The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-07-18
rwEs l'r-niNra CONGRESS-.
In Senate.


high espectaby ofhs petitioners and moved that the
paper be read which was agreed to, and read accord
Mr. wrssrrR hopsa tina Senator from New York. in
presenting his petition would not be chargeabe with the
ds'gn OF creating paaic The organ i'se had now
taken up the nonotonous cry Of panic-p panic, panic
Mr.. w. knew Of no panic makers TO compare with the
powers that be They were the greatest panic makers
the country had ever produced but no mpua,ions of
this sort against him would prevent him from pursuing
the course no had resolved upon in presenting what
petitions upon the subject Of the Tariff he might
now receive with such smarks no thought the
sion requi od. MIR sbster would here take occasion
call the attention of the Chairman on Finance TO GER
tain estimates he would hero present upon the probable
amount OF revenue that will be derived under this
year OF Sas 00J00 from nd vsloem duties entirely Mr.
then referred TO the graduatons of the general sche
dulles Of all ranging from l4oi 10 per cent the
OF which the Chairman Finance had calculated at
AL per cent MIR w said he would take that the
acreage The question is will this average yield you
gas 900 600 The importation of the year ending 3Olh
June. ls45, sil7 asa os9 saw III millions larger
amount than the average of the Ave years preceding
This includes the dutiable goods and the free ARTICLES
The fr,e articles set down at S!2 0oO-say 80
millions But is said the free list will be dimn-
cles will continue Free The articles of tea and coffee
and specie are free. the mportations of which
to Deduct this from the gross importations.
and you have aggregate OF dutable imports of $I0i
3aees Many other articles continued on the free list
might be taken into the estimate, which would still d.
minlsh the net amount But we will throw them out
AMI take the aggregate of 1899 9l5 the Of
duta9ls imports and a. a per cent average Of duties
Mr.. LswIs-Aow much, sir1
MIR. WEBsTER-S2S,s la Sit.
Mr. Lgwis-I make 1t out little more than that SIR
Mr. WkBsrEm-This Is the g ross amount of the reye-
nue. which may be calculated upon assuming the fiscal
year Is4S most profitable one as the standard You
must deduct then rPresdent some two milens for the
costs OF collection We have another deduction TO make
of 4o7 on account Of draw backs taking the aggre.
gate Of the last year With these deductions ou will
derive ell The dutiuble imports of the assuming that
they will be as large those of last YEAR you will
rive het revenue Of Sl9, 935 .69 and in this will
allow, that unieI your al vslorem system the duties
will all be collected good faith But suppose put
your revenues IN round numbers at twenty millions aud
tubs will be ample, FULL and liberal allowance at 23s
per cent nett receipts will fall short by eight mil
lions OF dollars Of the amount that would be collected
under the act OF lol2 precisely the of
importaons To raise S2s 900 then or to make
mp this deficit of So 900 600 you the agg
doc 600 which Will require you an aggregate mpora.
don Tor the year. of slS7 asa 564 addition a CORES.
ponding increase in the impor,aons of free articles
Some twenty three millions ali You can get from
your BILL upon importaons equal those of last EAR
TO get our GOO on must have this Incl eased
importation OF forty millions duty paving goods in nd.
dition to the natural proportonate increase Of
ciss Is there any ground to expect tina, this will take
place Is there any possible hope for it If itdoes take
place on the other hand will this large increase
range the currency and the exchanges the county
the last not less than 81 0J0 900 suppose
you going to make issue OF Treasury notes. and
for loan Of some millions.
Mr.. LEwls-les sir. The bill is lying upon the table
Mr. WERssEn-The Senator says SO. low. sir il this
bill viii not yield the desired for the
rent ordinary expenses Of the government nothing
OF the extraordinary does not the honorable Chairman on
Finance see does he not that The basis of credit and
the commo cial stem Of the country will deranged
crippled and greatly embarrassel1 Does the honorable
Chairman not this that before he get loans
there must be evidences Of the capacity of the
Treasury opay them
Mo. Lswrs-i don'l know that answer the sena-
tor Ills estimate Of the revenues iron an aveIape of
1Sts per cent rs nearly correct; make II out SIR S23
SIS UOJ and some fractions In arriving this calcu
lauon lie has taken the tables of the last year the
basis, ant had employed two clerks Tor two DAYS in
making oat But the Senator ha deducted the draw.
backs from nis tie ought have done that be-
fore lJl millions reinlin in the country.
Mr. W. ssrES-Nou must seduct the free articles
Mr. L.ws-i know mat, There were SO 900 900
oil iree arutles imported Tie last year under the Of
lsij
Mr.. wIBsrER--A And they are free now
MIR L.wis-No, sir they are mostly included in the
OIL as taxed articles, And the senator mus. remember
that the revenues thus calculated the ne, duty
paying imports vi sl0l millions and from gross
air. WLssr,R-ila; rededTction must BIO made of 10
millions upon the iee articles of specie coffee and
l0l millions and hnally, that raise revenue Of %
millions under this BILL you must import increase of
20 millions OF duty paying goods.
Mr. CAnrRoN presented several petitions from Pennsy
vanis, against repeal of the tariff.
CLOSE OF SESSION
MT HANrEoAs moved to take up the resolution fixing
the day for the final adjournment of session at the
Goth July but gave way for moment.
TREASURY NOTES LOANS.
The bill was taken up, on motion of Mr.. Lewis, who
eminent wanted now the remedial aid the bill would af
ford
Mr. EVAN. hoped the bill would be laid aside till to.
morrow. He desired to make few observations
upon IL.
Mr.. Lewis asked for action to day.
:, Mr. Evans did not object TO the bill being passed
through committee but left open to amendment to-
morrow.
Mr. sEvr. hoped the bill would be passed to third
reading now.
Mr EVANS objected
MIR sEvER-Doe, the Senator wish to amend in
Mr.. EyANs-l don't know that do.
MIR JosNsos, of Md appealed in favor of tho post
po mna en- OF the Pin ul He thought there
derstanding the motion was agreed to-
THE TENTH AUGUST
MT hASNEeaS's resolution for adjourning the Goth
AIR. TuRsEr moved to modify the time to the 10th of
August. Accepted by MIR. Hannegan
motion made to POSTPONE
Lost 10 to SO. (see vote bsIow)
Mr. SEVER was not in favor Of this resolution al
though it allowed time enough get the business hefor
ms through. We have been hting for this great m.s
sure long Hannibal against the CITY of Rom.
And now, alter contest of tweaty years when tns
great object VI the struggle s in view opposed to
any limitation to the session. while this bill remains be.
lore the Senate. II the resolution were adopted the
Senate ought to meet at or 10 in the morning. adj
ourn at IN the evening, in order to get through.
Senate ami long sessions sndwere opposed to the
luton just now.
The question taken upon the resolution
YsAs-Me,su Archer, Atherton, Barrow Bcrrien
Bright, Calhoun Cameron, Cas-, Cilley Thomas CLAW.
on J. NJ Clayton, COrw'n Crittenden, Davis, Day ton,
Dickinson, DIX, Evans Fardsid, Greene. Hannegan
Houston, Huntington Janagin johnson, OF Md, john
lon, Of La, sangum, Miller Niles, Phelps scmplc, SIM.
mons, sturgeon, rurney, UPham, Webster 30.
NAYs-Messrs Allen, Ashley, Atchison, Benton
3rcese, Chalmers. Colquit Haywood, Lewis M'Dufie
'enny hacker, SEWER, speght, westcott Woodbridge
Yulee-I6
The Of the vote laying the table precise
y. 80 the resolution Tor final adjournment OF the two
houses on the 10th OF August, agreed to by the
senate.
rrS O'CLOCK, AM
Mr. Lgwis moved that the daily ting Of the Senate
10 ten O'Clock, A. VI. Objection being to its adop-
ion now, II was laid over.
Mr. Lswrs SAID he had next a motion TO submit which
you'd meet the case, aud that Senate ad
ourn II should adjourn at 10 lock to- morrow
iorniIs.
dr CaIrrESog raised question of order
Mr Berricn, MIR. Mangum, ar Johnson of Md Mr.
,nttenden and hF Cameron discussed the mston, as a
iesto VI order insusceptole of ton to-day II oblec-
IONS made.
The cs.a decided that 1t in order to act upon the
l0.iJn sO-day.