The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-12-18

/ OF the govenme OF so to discriminate in the levy
ing Of duties, IA, without falling below the neces
sary amount Ut revenue, Ia give the greatest en-
coursgement possible to all the industrial pursuits
OF our own people. One feature OF the law Of
1876, in the opinion of this department. is opposed
10 both the controlling principles just stated.
have reference 10 an equal or higher rate of duty
on the law material, than upon the Manufactured
article of which II In composed. Such provisienr
certainly take from the manufacturer and ariis an
that encouragement Which The present law doubt.
less. 10 some extent, was intended To afford, and
also check the importation Of the raw material 10
degree detrimental TO The revenue. The constant
fluctuations in prices, and consequently in the dn-
ties under any unrestricted ad vaiorem tariff give
10 The act of 1886 that most Objectionable feature
insiabniy. These variations GIVING high duty
when least required, aud low duties when prices
are runous, tend to en- excess Of importatons, aud
subject all the products Of labor IN our own
try, Ia The frequent and enormous fluctuations in
the markets abroad, arising from the disturbed
con diion Of those nations, with whom our foreign
commerce il chiefly carried on
Under the pesent system, duties are highest
when the article impaired IN highest, and when the
purchaser and consumer least afford to pay the
duty: and lowest when the price Of the article
wanted would allow heavy ADDITIONAL duty 10 ne
LEVIED on il. Thus, if an article costs SI0, duty
OF thirty per cent would compel an addition Of So;
If that article falls in value S. then is the duty
reduced one half.
Tbst eel not be a wholesome system of taxation
which follows the consumer IN his purch ,ses, in
ereasiIg HE burden wbtn prices are high, and TAX
ing II oil prices fail and his ability Ia bear il int
cresses. II applied TO articles OF subslste nee, ir
would operate M a heavy tax upon bread in yea
OF famine, inore asipg with the intensity OF the
evil, and gradually disappearing with the return of
abundance.
The objection TO the present system, from com.
mercisl fluctuations in prices is constantly forced
upon the attention Of the department by instances
OF extreme inequality and prejudicial operation
h. IN
above that which has prevailed for the last two
yesis IL the duties upon bar iron have been LEVIED
in strict accord with foreign cost, they would now
be but little more Than half of what they were
in 1876 by this process, besides the immeRse In
jury inflicted upon domestc industry, our revenue
10 made TO fiuctuate with the accidents and revul.
sons IN foreign commerce. and ihs BE accidents aud
fluctuations, which originate abroad, are imported
with their attendant nischiefs.
Our revenue, as slresay stated. must be mainly
dependent on duties on imports. Those imports
from abroad can only be paid tor by exports made
UP OF the products of lsber all It's varieties,
or in the precious metals Ii our imports shall ex-
coed the value OF our exports abroad IN ANY gwen
year, TO the extent OF such excess 90 we create a
foreign debt lfthis operation be repeated tor only
few years, II IL obvious that II VIII effect the with
draw Il from Of quantity at the precious metals
equsl, or nearly ia, TO the amount OF the accumn-
lated debt, bringing with II Bankruptcy IN all de-
perncnis OF business, consequent inability 10 pur-
chase foreign goods, ana thus for the time, caus-
ing a Iunous depression in the receipts into the
Treasury IL then becomes equally tho duty OF Con-
gess and the interests Of the people III possible)
10 regulate imports AZ 10 combine the imporiations
into this country, TO an punt about equal 10 such
exports of cur own Can ind a market at remu-
neIativc prices abroad. The bare statement of the
foregoing we'll established laws OF lradc would
seem TO furnsh safe guide In all legislation on the
subject.
Whilst Impor atoms should be secured in amount
sufficient at practical rate at duties 10 supply the
wants OF the Treasury, such duties should be ad.
eaf.. Ia
pursuits nj home IL duties on the necessary i'm
portsit ms should have the efrcl To impair the abi
ty OF the mass of the peopie to purchase and pay
for ioregn goods, then import ions 70 that extent
must cease, and by consequence the revenue TO an
equivalent smouBt would be diminished.
IL il believed that our own experience hos shown
sh-s eafor,e cannot be greatly cNtendod, az
some have supposed, by low duties upon foreign
Roodr in our porto. Ia a. iset. within the obser
yation OF all, that merchants ard ship-owners are
ever yiglsnt ana alert, with all the knowledge
which intersa' can impair, aud all the skill which
experience supply 10 send abroad aay and every
product Of thig country which can Any where Ind
prtfitsbie market. These agepeirs, which are
always active, extend our expor traffic AZ all times
thu utmost limit 81 advantage to the producer or
carrier. II at any time a given article Of export
should be carried beyond the fore ign demand, re-
duced prices the invar4hle result OF over-snppiy,
brings losa UPON ali concerned II foreign article
IL, in like manner, forced upon cur own market
hey oId the required supply, the effect OF reduced
pIices, while u ibfcts often ruinous Losses upDc
the importer ouv abroad, II felt by those engaged
Ia producing the like 6r1clc at home, IN conse-
quences tenfoid more injurious. AZ the reduction II
prce in our own market extends to end affects the
entire labor of the whole country, which may he
employed In such manufacture or produ c,ions.
Thus, while the injury Is temporary and hunted IN
its upon the importer, u IL often lasting and
widely extNded upon the labor ~ our own people
We see and feel II In the sudden breaking ny OF
establishments not yet sustained nv an amount
Of capital which afford 10 encounter temporary
eua AZ catea and rgduppd nfie pr moi
Yet worked with that sail aud economy which
lorg experience alone can impar. Ia such m
stances labor IL sUddely Withdrawn from
diversity of pursuits, ana driven 70 the production
IN q limited sphere; tina agaIn brings an over sup
Ply OF whatever may be- Procured ny the common
employ ments, white m the end u leaves the mar
ket al the arcle, whatever u may he, the produc-
tioo of which has been abandoned at home, nc the
mercy Of the foreign supply alone
The reeult an the end Co the consumer "a inva-
nshly rlse IN the price of such srucie aud there
being no cCmpeiItion with the foreign pToducer, NJ
has lusssssion of the market. aud e course, sip
plies IL nt the highest ptiCe which the denand VII
give him. Ills prices aud grohts, unshsck-d ny
conpetno in such CASES, continue Ia rsc wi N the
iDcr,ssss d, mand ana d,minished hone supply.
The operation aud Effect OF these laws ~ labor
and trsde. u ~ believed. have been Frequently and
pslpshly exhibited IN The history ~ cur country IL
l. from such efpcrie uce that the g'nrrfi plpcprs
ulon hich our tsrih Tvs are bascd, have become
the curimcn opiuious of the poole Heace the
almost uuiyersal impferson 10 our country pre-
vsila that IN assessing dutes on 'orrign mrrchin.
disc, such Discrimination should ~ made "a VIII
h. We the fleet Of producing all aticl's which can
be MANUFACTURED ~ home Ia such quantity. u post
bic Is 20 rsi.e no two markets tor 'he consumer,
the home end the foFeige-each compeuog 9Th
the oter, 80 that he may not h~ left 10 the mercy
Of one and that he for,igb one alone.
The harry indirect eff c. Of such Legislation uron
the lsbcr. ard, coosequenily, un the permanent
prosperity OF our cousry, ~ not the greatest,
by sny means, 81 be blesrings " cgni.s. by
giving diversity IN the occupations aud Industrial
pursuits a. the people, Ia bor s T. w,rded thu ABILITY
"a consume foisio products IL at aiusd, end me
wants % the national Treasury, d"p'ndent rnur,ly
uron duties collected upon foreign imports, are
smplv tuppled
While the greet end-'hst 81 a cor- peient reve-
nue-is thus surety reached by this policy, larger
n,tnbt of eNprrts 10 a. the same q NE obtaiucd to-
wards paying iot the uquired imyortaicus
Our exports, - The COMMERCIAL statistics WI
l. IL -. .h.l.