Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-05-05
THE ENQUIRER.
RICHMOND, VA.
Monday Morning, May 4, Is46.
THE WAREHouslNG SYSTEM.

monopoly which il now enjoys over industry and
skill. Under the present system, the heavy
duties are all 10 be paid in cash. The merchant
of moderate means is precluded from advanc-
| ing the whole amount OF duties upon The ar
,ices imported. fIe is compelled either not
TO import at all, or 10 call upon the CAPT
talist for The funds, and by way OF security
surrender the whole control Of the importations
Under the proposed system, however, he may en-
ter his goods in the public warehouse, and may
draw them out as he finds occasion to sell them,
paying at The time with great convenience the
duties upon what he removes from the ware
| house, because his sales will furnish him album
dant means 10 defray all charges. As it is now,
he j. forced to remain out Of pocket 10 large
amount, and 10 rely upon The chances OF sale,
TO get back The money he has handed over TO the
Government This We repeat is one OF the
great benefits 10 be expected from the warehous-
lag system. Ii strips from the capitalist The un-
dne privileges he now exerciscs-it allowsto
man of moderate means fair share OF business
and, in this respect it will prove of great ser
vice 10 The South, by placing it more upon par
with the vast capital Of The North 10 which it is
now so liberal tributary.
| Al present the payment OF duties on goods, as
they arrive, abstracts from active trade millions
OF dollars and locks them up in bank, 10 be dis
counted upon by few favored institutions. often
producing great fluctuations in the currency; un-
der the Ware-housing system, The goods will lie
in the public warehouses, and the duties due upon
Them will be retained in the importers hands tOy
lis Yegiliar business.
The public dsposes will not be concentrated
in banks, 10 produce overrading and specula-
lion, Blu, will remain in circulation, exercising
The proper functions Of currency, and not FORM
ing basis Tor bank discounts The warehous-
ing system will also prevent the accumulation OF
the heavy balances in The Treasury, which SO
many have urged as an objection TO the Sub
treasury. Thus, by taking The two bills together,
the change from The present 10 the new system
may be made without any sensible effect on the
marke, or on business, and disappoint The croak-
| ing predictions Of the Wings.
| Again, The warehousing system will benefit
The agricultural interest Of This country, by low.
ering the rate OF freight on agricultural products
to Europe. The necessity OF paying cash duties,
at present, prevents our vessels from bringing
return careoes, and forces them TO demand high
freighs on their outward voyages. Give them
the privilege of entering their goods, the dulles TO
be paid when they are actually reimbursed by
the demand for consumption or expectation 10
other ports, and they will be enabled 10 bring
back return cargoes and thereby TO lower the
freight on our agricultural products sent abroad.
Thus, in addition 10 the advantages 10 agrieul-
lure, a new impetus will be given 10 our COM
mercia marine. BY the facilities held out 10 the
introduction and warehousing Of goods here, a
full and valuable sntrepot Of goods will be CONT
nually at hand, in our own ports which will be
resorted to by the West Indies, &c.-and new en-
ploymen, thereby given TO our own vessels.
In the success Of the Warebousing system, there
fore, are involved The most important interests of
the country. We trust that Congress will at This
session organize such SYSTEM which will move
on pari passu with Revenue Tariff and Con-
sri,utonal Treasury. Stability and soundness
will be impaired TO the business transactions OF
The country and all classes have fair and equal
advantages.
We are not sufficiently versed in the subject 10
decide whether The Warehousng bill pending be-
fore Congress may not be essentially improved.
| The principle is what we warmly contend Tor.
For the information of our readers we extract from
The Philadelphia Ledger The following abstract Of
The leading features OF this most important bill:
The fret section authorizes the warehousing for
IL. g ~ he ,.el- m
Of III imports subject TO duty.
| The second section requires the regular entry
of all goods so warehoused, and bond for the du-
lies, conditioned for the payment at the end o.
The three years ii the goods he moi sooner exported.
The third section authorizes the withdrawal for
consumption at any time before the expiration of
the three years, upon tweniy-fonr hours notice to
the collector, of any entire packages of not less
than one hundred dollars in value or OF The same
value OF any articles; the duties and any charges
! for warehousing and one dollar for The permit
| being first paid.
The fourth section provides tina, goods may be
Withdrawn from expectation in like manner and
Of like value as in the preceding section on paw.
ment OF the charges OF warchousing, and one dol
lar for the permit on bond being given for the
full value of goods 10 be exported that they be not
re-Ianded within The United States, and certih-
cate, as now in use, Of their being landed without
/ The United States 10 he produced.
The fifth section permits under stringent pro-
visions 10 guard against lrand the removal Of
warehoused goods from The warehouse of one port
to that of another port in The United States there
| 10 be on the same footing, either for consumption
or expectation, as if originally entered there
| The sixth section stipnla.es that bonds given
on The transit Of warehoused goods, from the
warehouse ofone port 10 that OF another shall not
be discharged until new bonds are executed al
the port of destination, If the goods go into i'm
mediate consumption until The duties be paid.
The seventh section regulates The details under
which goods thus transported from one warehouse
TO another, may be Immediately exported, or go
into consumption, without being actually lodged
a! ihs time in the last warehouse.
The eighth section directs the collector to use
the euslom-house, or such buildings as, under the
direction of the Secretary of the Treasury, he
may hire for warehouses, charging on goods only
sufficient storage to pay rent-any surplus TO be
| paid TO the Treasury of the Unied Siates-but
no gunpowder or other explosive material 10 be
deposited in such stores, under penalty of one
thousand dollars.
The ninth section requires that any warehoused
goods fraudulently received shall be forfeited and
| the parties concerned rendered liable 10 penalty
OF one thousand dollars.
The tenth section authorizes the captain or
owner of any ship from foreign port lodepo.i, in
The warehouse, al any lime within FIVE days ap-
plication to the collector, any portion ofbe cargo
not entered by the owner, consisnec or agent
thereof.
The eleventh section authorizes collectors TO
cause the quantity, character and value Of all
goods warehoused under existing laws, and not
In conformity with this act, upon, which duty
shall moi have been paid in ninety DAYS from the
importation thereof, 10 be appraised and ascer-
tanned, and then the same to sell in the manner
now prescribed for selling unclaimed goods
The proceeds, after deducling expenses, TO be
paid over 10 The owners, iflhey shall appear in
sixty days; if not, into The United states lrea-
.ury, there 10 be held for the owners.
The twelfth section stipnlates that all imports
warehoused under this acL and not withdrawn 10
three years from the original importation, shall
be sold at auction under like regulations as 10
time, notice and disposition OF the proceeds, as
stated in The preceding section
The thirteenth section authorizes the collectors
10 sell any warehoused articles that may be in
Il