Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-07-20
CONGRESS-.
TnuRspAY, July TO, 1876.
I'm SENATE

IN SENATE.
Mr.. DIX presented memorial from merchants and im-
portc VI tho city Of New York. praying that specific duties
Instead Of nd vaofem duties may be imposed foreign
goods. and more particularly on silks.
The memorial having been read by the Secretary
Mr.. WEBSTER moved that IL be referred TO the Com.
miitee Printing.
wonder Cssid Mr. wkusrrn) that tho Hon. Senator from
New YORK. on presenting such petition this. s
little afraid that he will fall under the charge Of panic ma
kng; Tor Ind II Is be tho order OF thngs that when
ever member OF this body presents for Its considera-
uon the soHtmont Of his Constituents Of any other por
uon OF the people OF this Union against pen
dng here 50 deeply interesting all classes Of the com
muniy, he is to be regarded fulmnator OF denupci.
nons OF panicmaker. Upon all such occasions tho or
gsn win the monoony OF cuckoo-clock, cries out "pan
ie' "panie! Now, sir, in all honesty do NOT Know,
that any politicians in this country nc ed tak I'm IN, ,r,d.
., pane-making against tho gentlemen the other side
Ihey have shown themselves the accumulated pan
&c makers the country produced For one sir win
out regard to panies or false alarms, shall with r,en,
submission to the powers that be, continue the course
that have prescribed myself, in regard TO MAKING
known tho sentiments cf the people; and all memorial,
and ponuons transmitted TO representing those scnti-
men shall endeaSor TO prescott the Senate with such
cxpostions and explanations thereon aprear 10 ma %
be required. And may be permitted, perhaps. on hi,
occasion, as Il relates the genera subject of the tariff m
present mainly to the consideration OF the honorable
senator from Alabama. who is the head Of the Commit
tee on Finance abstract from the Treasury doeum.p,
and calculation founded thereon taking for il. other e.
ment the statements Of the honorable Senator himself n. 10
the average amount Of those proposed duties with via.
10 show what appears TO highly probable will be IN,
result OF this bill the amount Of revenue il will
duee or course will be open any criticism Of the
honorable Senator or OF any other gentleman here As
mere nothing speculative in it, for IL deals i'm fact, and
hsues and not IN coneetures will state il briefly ina,
every member may understand IL.
The object Of tho bill is 10 raise tyentv.eigb, ,II;
dollars for the service Of tho year by dute, ON
ns pfoposedo raise this by ad rsLoren
The articles being charged rc.peoty.v viii &
'o'V' 'hry, twenty hve twenty, fifteen ten and e.. 80
cent. Inc Chairman Of the Committee on Finsnc. -.
ha the Average OF these several rates OF due. 4, t.
three and 4 half per cent ""
Inc question, therefore. is whether we may Justly an,
suGn IN importation this as that rae
last year P'a"ons
the Treasury statement appears th.t the xa,u Of
merchandise imported from July l. 1874 In June an 1915
was Sll7,254. 564. This is n larger imno,,.,i 80
average OF the last five years. But this amount incId.
" ne nee sf'ices the value Of which is 500 81 $40
h inc nee list will be diminished by this bill
transferring several OF its articles to tho taxed lists But
the main articles still remain free Tea cofI,. and .n
ere are not to be taxed under this BILL and the value Of
these IN last years importation was SI59I4 500 M
' rom 'ne aggregate Of imporations, aud the ba-
lance remaining is Sol ,339 gl5 -
IN uath there are many articles left free. bp,..
ana cohee and specie the PRINCIPAL
Now this sum of Sl0l 1893 9I5 on an syer,s. d,,v c
60 p s ana nall per cent will produce S23SI4-
o ., and no more, But this is gross product
There TO be deducted the first place for COS, Of
Nu"n' 'Wo hhnohs In the place We ufe to he de-
duet the drawbacks the same amount a. ls,t vo, i
Sl,o'o'4oE 30 Alter these deductions there rcmsns on
INC sum OF Sl9936I 69 the nett revenue frnm an i'm
portauon as large as that oflast year.
IL We call this for the sake Of round nunhers ,,.,,
'ohs' "eh u follows that upon such an mpor,tion "a
% s' year The duties would fall short Of the amount
necessary Tor the uses OF the Government by the su
Of eight millions ~ " 'ne sum
provide these eight millions at the same rates of du
-, e vi" oe required an increased importation OF for
millions OF dollars, making an aggregate Of impor,a,,on
OF nee and dutable goods of SI57 25l 564
VOW is there any Just ground Of expectation that .nv
.I eu importation will take placer Or II il were
nat such an increase should accrue can the goods
be paid Tor without draining the eonpt,v % -; -
leelualIy deranging the currency
@ y oe remembered that TO the importatons of
" year specie was exported beyond the import of tho
same articles to the amount of "a 53e ga ~; ..os
Gle over imports OF the article 80 69I sO7. and
ported aInencan coin under the head of .onestc nro
Go14too; making together the Of S4,53G2 73
l. '"'s" a"u mat we expect increase of forty mil
Mons III the amount OF dutabe goods we must erp.ct al
ponuihg increase In the amount Of free goods
b, ,Sse. additional remarks to make, and one H.
h1 mere IS no substantial ground to say thai the ,oss
sure passed, will meet the wants of Goyernman, A.
oheI avery delicate one and to which desire mar
t 70 eau the attention Of the honorable Senator
rom Aa1sma take II for granted that there must be an
ssue oil treasury notes. Now will the honorable sena
lot allow me TO ask him consider we'll If his hin goes
Jul before the public, and those who acquainted with
ueh thngs and nsuto in such calculations should be Of
opinion that these provisions for revenue will NOT meet The
Apeeons OF the honorable Senator will not yield the
u SuISu ior oy the wants OF the Government, does
NOT see tha THIS affects the ercia and the money
20 world aud dmnhes the credit attached to the
government Does he not that necessary TO con-
hSe he puoe that provision, and ample provision was
nadeior revenue that the Treasury would be able 10
ee' the redemption OF those Treasury notes. before he
ah give mem circulation the rate Of interest which
presume he intends they shall bear7
Mr. LEWIS said he did not know that he co,IJ CON
'nce the public or tho honorable Senator from Mas.achu
mat the bill would produce what he expected from it,
nc honorable Senator had by his own calculation in
measure corroborated the statements which he had
unlimited The Senator had arrived by different pro-
al the same result But after arriving at that result
ne senator made deduction for drawbacks which should
io nave been made in this calculation because this was
ounded upon the quantity Of goods which really remained
n the country. ~
MI W EbSTER rosiated his calculations TO show TINT
ne at which he had arrived was the correct
IND added that the honorable Senator would require an
Importation oifory millions Of dutsbe goods this year be
ono the importation Of last mako up the agRroRae
AMOUNT OF revenue which ho expected.