The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-02-24
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lea, reduced from II. Id to L. per h. 20

Total reduction Of duties H. AT 600
This proposed reduction equal double the whole
nual expenditure of tho United Saies and direct OBJ
ect is the consum on OF United States but
ter and cheese and provisions in general well bread
stus and Thai u.s. by removing from the poor of
England this of $55 900 per annum they will get
more food for their earnings and be enabled buy
manufactured articles. The reduction in the duty tea
is to encourage the consumption OF this article in England,
in order that China may have means of pa for
the goods she buys of England.
The plan Of Mr. Macgegor proposes similar reductions,
with the exception of the malt duty and he proposes tax
Of five per upon the profits of all realized
property, and estimates such yield Ell
instead OF f5 0O0 the product OF the present
income tax Mr. Golden rightly supposes that removing
the burdens upon the articles of consumption will improve
all business and therefore enhance the yield Of the
its present Now, these enlightened and prac
teal statesmen following the principle shadowed forth
the great report of Mr. Walker The Secretary starting
from tho point that fourfhs of tho people OF the United
States sellers OF farm produce and buyers of goods
clearly showed that tho their saes the
greater would DO their purchases of actures and
consequently the prosperity of the facurers In Eng
land the is the truth. Mr. Golden and the gre at
majority of the people makers and goods.
and buyers of produce. The great inter-
early recognised the fact that the earnings of the
people all paid for and food they could
goods They therefore insist that shall be abolished
and such restrictions removed will enable the people TO
buy food at low by saving 5000 600 in and
$500 600 in food there will he $3.50 OO0 spend in
lands industry. Tie people ofChina will buy almost any
quantity Of GOODS but they have nothing but give
Mr. Golden says reduce the tea, that will
DO consumed instead Of beer, and you sell goods.
Thus, them it is the OF the United States sell cot
on food and provisions high prices of England to
buy them at lower rates than those which The
taxed soil of England produce them and the equal
ization of prices, by mutual interchange benefits both
nations Both the new plans proposed retain the
bacco Duties which yield Et0OOOOO per annum. It is
obvious that large article of luxury can
not be abandoned-more particularly that the balance OF
trade, it is called, between the countries now
largely in favor Of the United States and rapidly increas
ing That is say, the value Of and food which
England of the Uutcd States larger than the
of goods purchased from England by the United
States and this difference annually paid by England in
cash and drafts, Is yearly swelling in magnitude Ii the
countries situated like England aad China the
tobacco duty would be abolished order to encourage its
import in exchange for goods but the difficulty is not that
the United States send hither little produce but that
they buy too few goods The idea of attempting in the
present age of tho world still further exclude those goods
by legal restrictions would be ridiculous if such an evil
ience OF unenighencd bgoty in high places did not lead
melancholy reflections, and induce doubt whether
Tho Of foreigners boosted intelligence as mn.
lion are not in some degree mcrited.
1t alone the saisac ton derived from the evi.
tence of progress in commercial literally that caused
,onsos to rise cent and tho market generally to
become buoyan the in Londo on that re-
AUCTIONS taking place in the military establishments
Tue fact indicated also the confidence of in con
nued peace, and therefore had practical influence
upon tho value of securities that would shrink very mate
rally before the report of the first soed gun. American
securities evidently in high favor, although Der
sent. United ates stock, twenty years run, ut 1876
vas not higher in the same market where English
per sells at 81 But it will be remembered that the
discussion of subjects here that threaten tho integrity of
he Union is likely strengthen confidence among
people who have long predicted political dissolution here
rs the result of the agitation of one subject
Money has become a little easy within day or
wo The supply of bills upon tho Market against stocks
and produce, has been than equal to the demand
the large imports, and falling
They have been 8 follows
Bills Net1 York
Jan.8 Jan. 81. a. Jan n
London, ska Al
Paris, short S22} =