The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-16
'rHuH.DI, July is. 1886.
IN SENATE.
The journal having been read


cd joint resolution authorizing the Preslden, Of the
United States 20 cause medals from the trophies Of
Palo Alto and Resaca dc la Palma, to be made and
distributed among the soldiers engaged IN those bat
ties Also, that the President Of the United States
had notified said House that he had signed sundry
enrolled bills.
PETITIONS.
Mr.. DIX presented the petition of between 80
ard 4o merchants and importers Of the city OF New
York, praying thar in imposing duties on imports,
SPECIFIC duties may be levied in certain cases and
demonstrating against that portion of the new tariff
stead OF specific; and, the subject to which il
referred was then before the Senate for considera
tion, he moved TO lay il on the table.
Mr.. WEBSTER moved that il be referred to the
Printing Committee.
Mr.. DIX. have no objection to the proposed
reference.
| Mr.. WEBSTER then rose and said | wonder
not little II the senator from New York should in
presenting such petition be not afraid Of falling
under charge of "panic-msking;" for | find II is
TO 6e the order Of things, that whenever a gentle
man IN this body presents TO its consideration the
sentiments of his constituents or any other portion
oil the people, against measure pending here so
deeply Interesting TO all classes of the community,
he ID TO be called person eliminating denuncia-
ions, or "panle-maker." On all these occasions
the organ, with the monotony of cuckoo clock cries
out "panic !" "panie |" "pane!" Now, sir, in all con-
science, do not know one politician in the Countrywide
VIII take up the trade of panicmaking against the gem
tlemep uat now control the government. They
have shown themselves TO be the most accomplished
panic makers that the country produced. For
one, without desiring to produce any panic-that is,
false ALARM shall, with great submission TO the
powers that be, continue the course which ] have
prescribed for myself | intend to make the senti-
ments of the people respecting this tariff known;
and all and petitions, addressed in respect
full language 10 the Senate, sent 10 me, shall
deayor to present. with such exposition and expla-
nation as may appear TO me TO he proper. And
may this occasion, as IL relates 10 the general
subject Of the tariff well as on any other, pre-
| sent-as do mainly for the consideration Of the
| honorable member from Alabama, who is at the
head Of the Committee on Finance-an extract from
the treasury documents, and a calculation founded
thereon, taking for its other elements the statements
| of the honorable member himself TO the average
amount Of these proposed duties, which paper de-
| sire TO read the contents OF with view 10 show
what appears to me to be the probable, the highly
probable, result Of the bill TO the amount Of rev.
| enue which IL will produce or course my state
ment will be open TO the criticism of the honorable
member, or any others There is nothing specula-
tive IN II. Ii deals In facts and documents purely.
THE honorable genteman'then read the following
paper, Of which he politely furnished the reporter a
| copy
The oil Jet OF the bill is to raise twenty eight mil
lions Of dollars for the service Of the year by duties
| on imported goods
IL Is proposed 10 raise this amount by ad yalorem
duties entirely.
These duties are arranged by the bill into eight
classes, the articles being charged respectively with
| 100, 40, 30, 25, 20, Is, 10, and 5 per cents.
The chairman % the Committee on Finance says
that the average Of these several rates Of duty 23
per cent.
The question, therefore, is, whether we may just
expect such importation this year as, at that
average rate, will yield revenue of twenty-eight
millions Of dollars.
To Judge Of this we may look, in the first place,
| TO the amount Of importations last year.
BY the treasury statement 1t appears that the
value Of merchandise imported from July !, 1874, to
June 30, l6+5, was Silt ,254 ,564.
This is larger importation than the average of
the last FIVE years; but this includes all the
free articles, the value of which is S22 l67, $40.
1t is said that the free list will be diminished by
this bill, by transferring several of its articles to the
taxed lists; but the main articles still remain free
Tea, coffee, and specie are not to be taxed under this
bill; and the value of these in last years impora
| ton, was Sl5,9l4, 649.
tons, and the balance remaining is Sl0l, $3.50, 9l5
In truth, there many other articles left free;
| but tea, coffee, and specie are the principal.
Now this sum of sl0l 1888 ,9l5, on an average du-
ty of 23I per cent, will produce S23,Sl4,S77, and
| no more; but this is gross product From this there
is to be deducted, in the first place. for cost of col
lection, two millions
In the next place, TO deduct the
drawbacks, at the same amounts last year,
viz: 81 ,S78,407 SIS.
sum of sl9 ,936, 469 as the nett revenue from an
impor' alton as large that of last year.
| II we call this, for the sake of round numbers,
twenty millions, then it follows that upon such an
importation as that Of last year, the duties would
fall short OF the amount Judged necessary for the
| uses Of the government by the sum OF eight mil
lions.
To produce these eight millions, at the same rates
Of duties, there will be required increased mpor
tation of forty millions Of dolars-makns an ag-
gregate ofimportaton, of free and duable goods of
SIS, 1854, 564.
Now, is there any just ground Of expectation
that any such increased importation will take place?
Or if it were possible that such increase should
accrue, can the goods be paid for without draining
the country of SPECIE and effectuay deranging the
currency. ........
Let il be remembered that to meet the importa-
tons Of last year, specie exported beyond the
import of the same article TO the amount Of "a $780,
273-thus viz: of "specie" over imports of the
under the head of domestic products" SS44, 406;
making together the sum of "a ,536273
might add that if we expect increase Of forty
millions in the amount Of dutiabe goods, must
expect also corresponding increase in the amount
| of free goods !
Now, (added Mr.. w, y Ihavc but two remarks to
make at present-one is, that we all ought to
that there is substantial ground of believing that
the measure will meet the wants Of the government. /
The other is very delicate matter to which ]
would particularly call the attention Of the honor
able member. ! expressed three months ago the
opinion that there ought to be issue of treasury
notes, and suppose there must be an issue.
Mr.. LEWIS. am ready to report bill for
that purpose.
Mr.. WEBSTER. The honorable member says !
the bill is ready to be reported. Now, allow me to
ask him to consider well if his bill goes out before
the country, and those who acquainted with !
such things and assist in such calculations, shall be
of opinion that this provision for revenue will not
meet the expectations Of the honorable member
will not yield the amount called for by the wants Of
the NEUTRALITY-SUSPICIOUS. he give his treasury
notes that circulation which is deslredi II there Is
that the revenue will be adequate for
the redemption Of those notes when they become
due does he not see that he cannot obtain for them
the desired circulationi
Mr.. LEWIS said he did not know that he could
rer, The lahnred uhich