The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-08-25

the revenue, not one of those making the objection
VIII admit that II is because the rate of duty is TO
any extent prohibtory. Prohibition is term not
admitted into their vocabulary. On the contrary,
one portion Of them will attack this bill because it
will not raise enough revenue while another portion
will cry out, that by reducing the duties, we shall
be Hooded with English goods, and that the manu-
lectures OF the country are TO completely inundated
with the abundance Of imporations. Now both of
these propositions cannot be true. Ii we mum
dated with English goods, we must also be inunda-
ted with revenue. In my opinion, the nundation
will not be great it ought to be- either for the
purposes of unrestricted trade of increased reve-
nue.. As have before said still lower rate Of du-
| ~ would give US a greater importation and more
revenue. Therefore, while do not look for a
heavy Inundation, expect one sufficient TO give US
twenty-elght or thirty millions Of revenue.
! No man, sir, can look over the statistics of our
trade and revenue, and remain unconvinced of the
justice OF this expectation. While have reduced,
by this bill, the higher rate Of duties many Of them
prohibory, we have placed duties on very heavy
list Of free artlces-on almost everything, except II
be tea and coffee and specie. On many OF these free
articles we have imposed very high rates of duty
and thus the average rate Of duty under the prese
bill is but little reduced below that of lS42 while il
is infinitely better arranged for all the purposes OF
revenue. The importations, IL Is true, carry but
little less weight, but that weight is much better
adjusted, and therefore will be less oppressively
borne.
What will be the exact amount of revenue under
this bal is Of course entirely conjectura and every
one is entitled TO the privilege Of guessing. have
made an estimate with great care, entirely indepen-
dent Of the treasury but with all the aid could find
and with the fullest information the short time al
lowed me to collect; and though do not promise
myself even an approximation TO the accuracy OF
the estimates which may shortly be expected from
the Treasury Department, shall frankly submit my
estimate 10 the Senate for what II Is worth. Found
ing my estimates on the impoTtations of lS45, and
assuming the rates Of duty imposed by this bill,
calculate the revenue which would accrue on those
lmportatons Of s23 1856 657-within small fraction
of tWenty -four millions.
MIR CAMERON. On what do you base your cal.
culation'l
Mr. LEWIS. On the importatons of last year
after deductlng the articles re-exported. But will
there be, under this bill, increase Of lmporta
tions' This is an important question, which every
senator must decide for himself think there vii
he very considerable increase and In that opinion
| | am persuaded a majority Of this body mus
concur. On what do ground this opinion The
answer is
First. An increase of importations correspond.
ing to the regular augmentation of the population
resources, and commercial activity Of the country
Taking average of ten years, the increase OF pop
ulation alone has been thTty-four per cent
Secondly. From the admission Of Texas into thu
Union The population Of that fine State, thougt
important llbtll II On winch oas'
my expectations of increase, but 1t ID the addition
large exporting section Of the finest cotton land IL
the world to our Union The expectations from
Texas will form Of course the basis of cores
ponding importation of sufficient consequence to de
serve place in this calculation.
Third | look with great confidence to the relax
alton Of duties by Great Britain American pro
ducts, as an important element in increasing th'
amount Of our importstions. What will be tn
increase, no one certainly predict, but that i
will be large, can hardly be doubted. Suppose /
should increase explorations to the extent II
the present and coming year of twenty millions o
dollars; it will give US a corresponding increase O
Iimportations from that cause alone. have a table
which will read, to show the magnetic speed will
which our exports have increased, in anticipation
merely, of the modification Of the corn-laws BY
England. The table shows the amount of export
IN the city of New York alone, from January LIST Z
June Both, 1876, as compared with the exports 70
the same period of time in lS45: