The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-24


not for the demand existing the fancy rail-
read stecks to deliver contracts made some time
ince and maturing, quotations would title down
rapidly than has yet been realized. The bears
purchasing largely. aod soon as they have
supplied tbemf elves the ket must FALL from
weight. At the first board to-day Erie rs new, sd-
vsuced q per cent; Cautou Co. q; Erie railroad III
Harlem, q; Reading Rsilroad, "a; North Aneric an
Trust, u. At the second board, Reading and Harlem
went up e per cent each There a sale to- day of
one hundred shares of Harlem at 60 seller IL months
equal to SO at the m aturity Of the contract.
The receipts at the Office of the Assistant Treasurer
of this port day. amounted 10 $40 33 5e payments
S33 ,662 10 Balance, So 9ls,4i0 A.
BY experiments recently made IA the Harrisburg and
Mount Joy Railroad II hs. been proved that the Dau-
phip and Susquebannah coal Is the very perfection Of
fuel for locomotive purposes. This Is semi bitumin-
GUS coal and has lately been brought into market
The experiment referred TO above was successful in
every way The fire regulated by the able and ex-
p.reuced superintendent Of The railroad accom- panied
by several gentlemen interested ia tho application OF
this fuel for steamng purposes Although the Ere box
was constructed for the Of wood, the combustion
Of the coal rapid and the flame intense that
steam generated that required 1t to be-
blown off frequently. Even while going up grade aud
both pumps supplying water 10 INC boiler the steam
was in such excess as to be required to be blown off,
The railroad to the mines will be finished In a few
weeks and an inc xhsustble supply awaits the indus
try Of the miner.
The organ of the government ut WASHINGTON admits
that the deficiency in the treasury has not been occa
stoned by nsufieepcv of the current revenue to.
the ordinary expenditures u the but
by the extraordinary expenditures growing out of the
Mexican and the treaty Of peace. 1t appears
therefore that the admits that the present
tariff produces revenue enough tn meet the ordinary
expep 81 the rreasury Department. but an ef
fort made TO throw the entire odum of the deficiency
upon the previous administration and attribute it to
the under estimates Secretary Walker of the Of
the in his calls tor loans Mr. Walker sure to
be within bounds He did not call for more money
than he really wanted for the time and he no doubt
thought the provided by Congress sufficient
but the final settlement, or final adjustment Of con-
tracts In ware well in the construction of rail-
reads generally amount to nearly much as the orr
gnal agreed upon There is doubt but that In.
closing up the Mexican contracts, Q sum larger
than previously estimated has been paid The
treasury has Therefore had greater drafts upon IL than
coptempla ed and the deficiency is already quite large
The government astcpate deficiency at the close Of
the fiscal years ending June 80 1850 aud of about
twenty millions Of dollars which added the deficiency
the seth of June last. will make aggregate Of
about Thirty millions within the eighteen months.
ing at this result iu opinion rather equvoca
and they spread over such length Of time that
the result anticipated may b. realized 1t i'm
possible tell what may be the of foreign
trade during the next two years; eau tell whe-
Their the from customs year will be thirty
forty millions OF dollars and it IL, therefore, the
height Of folly the part Of the government make
such estimates. II is stated by the wicked and hard
hearted organs Of the opp sion, that the object Of
showing such great deficiency is to make 1t appear
that the present tariff dees produce enough
to answer the purposes Of the government and that
certain alterations necessary to provide for the
resent and all future deficiencies This Is plausi-
bic enough, and may b. true but we take q
different view OF the question The government
have, no doubt calculated upon deficiency and wish
to provide for IL at once; but IL take its organ
guide II Is not the belief OF the cabinet that any alter
alton Of the tariff would increase the from
tens. The changes the government will probably
propose, will have contrary feet they will be calcu-
lated to reduce rather than add to- the income from
duties That the changes rte ,mmended will be OF o
protective character, we do not for moment doubt;
ard the effect Of such changes will be by means
favorable to revenue,
The administration profess to have great horror
Of the ad raiorem system of levying duties; and
the Secretary Of the Treasury w without doubt re-
commend the adoption Of specific rates that about
the sua mixture Of the two ~ will exist IL
our impression before the ad raioe tariff OF 1si5
Iasssd that the system II made universal would not
work well and We Therefore opposed Its adoption
The result has confirmed our hrst impressions. and
We have no doubta partial return % specia, duties
would be hailed by the commercial clssses with
Joy Under the cd raior,m system. much IL
left to the appraisers in the valuation Of merchandise
ard such disposition IL exhibited by importers II In
.
great.tt difficulties have from the start been eIpe-
ii.rceo and iunumsrs BIZ plants made 90 the 20.
verpment by the importing olss,ss The arbitrary
valuation Of goods b. appraisers when the invoice price
va. knorn 90 be below cost bsa In many Gases brought
the government aud importers into collisions aod evil
upon evil has b, the result We kno~ OF hundreds
Of eases where gosds have been and duties paid
upon appraisers valuation under protest. and 1t viii
tske many years to dispose of the claims which have
been will be preferred against the government for
sxc,fs Of duties paid Ad vaorem duties best in
majority Of cStesperhsps in nine out Often but there
are where specific duties absolutely necessary
not only 70 prevent fraud bot 60 aosd such facilities
20 importers will incrae imporstons aud enlarge
the revenue. In all where there is wide margin
for reducing the invoice price Of goods where II IL
difficult to fix valuation in the port Of entry specific
duties desirable, rather absolutely necessary
We list Of articles that 20 at this
moment upon which specific duties should be levied,
viz brandy and distilled sprts cordsls and all other
spurious beverages, wines Of all kinds ale, beer por-
ter Sc spice. CT all kinds iron and steel not
fsctured coal tobacco, segsrs, manufactures Of fax,
wool and hemp tea and coffee glass, glass mauur.c-
lures aud copper The difficulty OF mskioss fair vaus
tion Of these and other articles Of similar character
calls for change in the stem Of levying duties and
the only fair aud just system is the specific. In the
valuation 81 wines aud liquors Of oil kinds, for the pur
rose Of sxng the proper Of duty 1t is i'm possible
20 safety ell parties the importer Of brand Of
champagne for instance values IL In his invoice at
price absut hs what other brands selling in the
market The appraiser feels satisfied that In compare
with other brands this IL undervslued sui there
fore places value Il ard levies the ad ragrem duty
accordingly Nov, IL Is possible that the invoice price
vss what IL actually cost and the duty should have
been calculated on Il at that price; aud " so,
the importer will have been very upjustly used and