New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-01-28
Profit nnd Loss-The League.

The formation of a Free Trade League
in our City for the avowed purpose of pro-
noting the abolition of all Import Duties
whatever and the substitution of Direct
Taxes therefor, has very naturally excited
interest in Great Britain. The Glasgo,o
Ddilu Mail thus speculates thereon;
"Our able New-York correspondent notices
new organization in the United States, for the
purpose of changing the common mode of levying
taxes. At present, the general revenue of the
Union is almost entirely derived from customs
duties. The local expenditure is chiefly raised
by direct taxes. So long as the Republic depends
for its general revenue customs duties, free
importations will be impossible. A respectable,
although a small party in New. York, have ex
pressed desire TO change the present plan Of
meeting the expenditure. They are chiefly con
nected with me European commerce, and they
want free exports and imports AS preliminary
and proper condition, they want to remodel the
taxation OF the community. The wisdom which
has led them 70 commerce at the beginning OF the
question nstea d OF dsshing into the middle rather
augurs well for their ultimate success. The NeU-
York EpeHiRg Post is the only journal IN which,
so far as we have yet observed, their views are
clearly defended. The Evening Post does not
even appear to be paper OF great commercial
weight but this party IN the States wall ulti.
mately embrace & large part OF the commercial
community At present, Mr. Collins, whose name
is connected with the steamers from New York,
is the principal promoter OF direct taxation. Mr..
Collins differs IN this respect materially from
many Of his contemporaries IN this country. lie
sees, however, in his plan the only means OF car
ryiug unrestricted commercial intercourse His
project is comprehensive aud interesting 70 the
people O! Great Britain, who get little OF their
revenue from the importation OF United States
produce and could therefore lose only that little,
and would gam mUck more By Tie success Of this
Transatlantic rttora Our correspondent IS man
of facts aud figures He has al evident tendency
70 the investigation OF probabilities. without the
tinee thst party enthusiasm sometimes throws
over the account. He has studied the American
character deeply, and he distinctly says that the
new party cannot progress. The Americans en-
terrain rooted hatred TO many proposals. ami 10
none more than that Of direct taxes. We have
no doubt that he is perfectly right in the mean
time The constituencies Of the United States
left 10 their sense Of justice their desire OF profit,
their feeling Of rectitude-leit 70 themselves will
not impose & direct tax on their wn earnings, or
indirect taxes on their Own predictions. They
Kali require 10 be stimulated b. htte eTsrti0H on
this SIDE fthe scater They will acr in the matter
with more yigor ii they learn that the scheme is
necessary for their own benefit than II no such
intimation be received. Although we have no
reason to expect the success OF this scheme In the
United States ct al early date, or so long as our
present regulations exist yet we notice its an
nouncement in evidence that some Of the princi-
pal merchants IN the Union do not lear direct
taxes but perhaps they do not understand them