Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1846-08-03

can be no such augmented income from i'm.
portatlons as II relied upon. will not go Into |
this subject OF large. Ii has been discussed 1
abiy-i will say. admirably by |
gentlemen on this floor who have preceded 4
me. ] refer particularly To the inconpa rahle /
speech OF my friend, the member of the Senate
from the State OF Maine, Mr.. EsonsO Since
my attention has been called TO it, aud since
be has reminded us that the period of his SER
vice withinshes walls is about TO expire.
take tins occasion, even IN this Senate. and in
hts own presence to sly, that his retirement
VIII be serious loss 10 this government aud
this country. lie has been sons rs or IS
years ~ the public service. lie has devoted
himself especiallyto studying aud un lerstand
iig the revenue and the finances of the cuun-
Try and he understands tie subject as well as
any gentleman connected with the govern.
ineht, since The days oil Crawford uud Galatin.
Nay, as well a. either uf these gentlemen ever
understood n. hope lac may yet be- am
gal To know that be will b with Us Que sea
son mOrr, 1at We may have Tie benefit of his
advice aud assistance IN HAT nuanCidl orsi,
when IN ny ludg,lu NJ j, SURE TO arise il this
7 war continues. aud ihr, bill pass And can
only sa4, that Ieure Mice be- will he will car
~ with lhmt!lc goosl WISHES OF every member
oi this body -the general esteem and rcearl OF
the couulp --and (Piacins his haal upon his
I hsdrt aud boWmg to Mr.. Evans) the conlidl
I attachment OF hls umis, political and per
soual.
! But those who argtto IN favor OF an augmen-
4 tauon tu this extent lroni increase ui cApoua-
luuns seem to iOrgct--to forget altOgether-
4 what l. as common Truth as ANY other Truth,
thot there can b. sut IA thing as over proliC-
ton IL has happened many limts within
+ my short experience IN public lite. There
may be produced in Euglani aud in this coun-
frs Lot a "a. 4 III.
tries together with all that they eau sell To she
rest OF The world CON consume, aud that Gre
aies what i, commonly called "g0i" IN The
market. That there D. ON indefinite power ct
, consumption. IS assumed by all those who
think thdtau indefinite extent of importation
may be expected. The Hon member from
Maine stated with great truth AMI rTppriety
that the augmentation al imports, drawiAg al
, ter II ur supposi1g To draw after IL an aug
n menlatiou oi exports went upon the ground
OF an augmented CONSUMPTION on both sides
Well be II forever remembered that there j.
a limit to the power ot consumption both on
one side aud the other That has happened
frequently. IL may happen again. There
may be an excess OF production. aud therefore
II Is that hold il 20 b. exceedingly uncertain
and allaClous 10 rely for revenue in time of
war ulon matter 80 theoretical as that we
shall have a vast augmentation of impor,a-
4 lions, with capacity tO pay for them aud de
sire TO consume them | think that ii such
an importation shouid take place, which do
not expect and cannot anticipate we could
not pay Tor H.. Sir, what are our means for
/ paying Tor the importation OF foreign manu-
/ iacturcd articles, tn this country They are
! two. They are our exports, in the FIRST place
and they are the earnings of lrright-ol navi-
gation-lhe freight earned, in the second place !
for carrying out orr eNportations we earn a /
freight. For bringing foreign commodities |
home we earn a freight. Our ability there
fore 10 discharge foreign debt incurred by i'm
porlations consists IN the extent of our exports
and our earnings OF freight. Ii any thing be-
you'd that, il must be the drdin of the com
mon currency of The world, specie, To the eX-
tent that we possess IL. take that to b. the
truth. Well, now ! will say two or three
things upon this matter of expected imporia.
tons, although do not intend To 90 AT any
length into ihat subject. beg the attention
ot the Hon. membeS al the head Of the com
mittce on finance, aud all Others, To- this con-
sideration, which hope has been well weigh |
ed. Has il brca considered, or has il not /
what will TO- the loss Of revenue for The en-
suing quarter u tbls hill pass, by dcb,nlurc !
and ~ NVurjdtiuu2 There is i'm the country |
a vast quantity 81 mcT. ududi1e imported az |
high duties. After the first day of December I
next Al thiS bill passes, all that will come ia |
| al greatly reduced duty. Ii is now ull LA I
BILE 10 re expectation aud dcbcnturc. Take |
the case OF braudics-and there are many 9th
/ crs IN a memorandum furnished tu me by a
very respectable source ia New York quite
] friendly TO the government, and wishing il all
success-thcy now pay one dollar gallon,
aud have been purchased at 80 cents per gal
lon. There Is then fifty cents to b., made ON
every gallon Oi brandy ia the United States
II II can b. carried out OF the country now
and brought in On The first Of December next
i there not Sir, Il will ali 90 10 Cuba So
OF carpets and many other articles.
Well, sir. siacc this particular subject is
mentioned, viii beg To ask, whether the H.
mount OF losses on these articles has been du-
ly considered | know that there has been a
general estimate OF the treasury as to what
will BE- the amount OF revenue under this bill.
and under deductions from the probable a.
mount oi the bill ot 40 but since this subject
oil The brdndlcs has occurred tu me- would
suggest what has been stated from the very
\ highest mercantile authority, altogether favor
able, a. have said, To che government, wheth-
ef II has been known, ani Is now known tiat
on brdndi.oa and on spices, pimcnto aud things
( OF that sort, a loss OF three millions ycarwill
! occur under this taril Here is the cslctll,-
ton, from what may be called good auihofl-
". But am not going. as said under that
branch of Use case ~iv that we have no
means OF paying Tor tlns expected excess ct
importation, except by exports aud freight.
Now hoW ave we is increase our cxputtsl--
Not In manufactured goods. which now con.
sulu'e a considerable port oi our expectations.
/, Dccdusn hia bill /, an axe laid to ihr ROOT al
tbai productive tree. Il strikes down at once
!, the main iuiefcst which susfains these r,uo,
tauous. Il Is not therefore, from manulse
iured goods lh't Nc cdu expect ibis Increase.
l "a Irtf u Ia .r4
. Why sc have some national articles of ctpYr,
+. cotton tobacco. Now does any body SUN.
J, pose that twenty thirty or iofty millions of
. augmented eXpOra;lou Of cotton can pu.sihl.
take placer Allow me Co pu iic quls ion /,
. those concerned Il the casc-- those paciitail,
concerned lu this great interest IS ihs prf
, duct oi cotton increases, thc tendency in tht