Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-02-04
TABLE OF VALUE OF IRON IMPORTED AND DrTIE,

When MIR. Walker preparing the tarie of 1886, OF
he had returns later than 1874 and 1915 It was
apparent that the larger when the duty aver
aged 60 per than at 10 per cent was probable that
still would still further raise the revenue But
from Of data the rate was necessarily an experimental
one He adopted 80 per 10 determine whether that
is 100 high low, compare the returns OF lSic with
those 1915 The imports nearly doubled, while the
revenue diminished about S3OUuUu ii wasapparent
that 30 per cent low for revenues for increase OF
imports ought, with duty TO have produced more
instead of less The true rate H. therefore, somewhere be-
tween 80 and 60 per This Mr.. Walker himself was
the perceive and consequently reported to Congress
that iron would bear duty OF 40 per cent which, In the
opinion Of those most familiar with the iron trade s the true
standards for although the returns OF l-o0 show
than in any preceding year. an Oh one
third in the rate Of duty would not have checked mpoa
tons in the proportion and the revenue would there
fore have gained by the operation.
port that per is the tass-tnd we have
shown what undertook d. that the present ar!f I'M
poses neither an nd yao.em nor duty.
While horizontal or ad preur duty OF 81 per cent Goes
not produce all the il might now when PAGES
are low further examination VI the diagram VIII snow maj
ii Will produce any revenue when Flices reach lie nigh
est lir, Ii be remembered that the present Gny,
with In, l2Y ucr cent commission charged adds
third English price. In 1875 the consumer would
had pay ego lon in addition 10 freight Insurance.
& in 1850, Els per IN 1915, els los per ton Tals
would have lett HIM entirely nj the mercy If the domestic
producers would probably have met oil Demands be-
cause hi.h prices check consumption. The revenues
would fall zero, and the government and the consumer
would for have interest TO abolish the sys-
tenn which had placed them In so awkward predcamenI
II will be that specific duties would under such cir
cumsances be liable 10 the same objections as the lad pre-
tium' duties.
The present system then seems clearly open the follow
ing directions ls Tha, in oil high prices puts
an unnecessary and bucnsome tax on tile Consumer be-
comes prohibory and depvcs the government entirely oil
End In OF low prices do-s produce much
1t ought nnd We would add ruins the producer
if we had not determined prove case standing SIM
ply the attitude Of and advocate for reve
nue.
What il the renedy7 Choose the duty that will yield the
largest upon the price all departures
from that price apply tho sliding scale If the price advance
one dollar deduct dollar from the duty because re-
cyes the consumer and tends to enlarge the imporatlons
keeps the revenue nearly uniform as the cuse Will allow
and imposes saluary check upon tho producer II the
price fall one dollar below the average add dollar 10 the
duty the afford 10 pay IT, and the 60
vernmeni ought get all the revenue II can II II De an
object TO 10 sustain domestic production as
seasonabe check upon foreign prices then the producers
saved from ruin In proposing the sliding scale therefore,
YOU do not Except from the theory of ad vaorem revenue
duties" but you simply bring II within their PALE 1t may
be said that because ~ per cent Womb yield more revenue
than 30 per cent when the price is 20 II does not follow
will do so the average price of fSs taken as the basis
If this be So make duty IS per CENT 50 per c
but little reflection will show that high duties serve to
check and low duties tend 10 increase Importation two very
different rates OF duty will produce precisely the same
amount OF Thus, in Si5. with duty OF oo per
cent the revenue very different from le4S when
the duties were only 80 cent The reason obvous the
amount OF imporations nearly doubled 1t s apparent
also that when the minimum duty has been found that will
produce the maximum Of revenue by producing maximum
of imports that rate of duty might be gradually Increased
without diminishing the revenue because the dmnnton OF
imports would Just keep pacejwh the increase oil DUTY In
other words is plainly choice OF revenue rates OF GU
The producer would naturally desire tie highest possible
rate But the producer Of iron must not be grahed a the
expense of the consumer What then Is the consumer
INTEREST," At the fret glance, would seem mani!esty the
lowest rate OF duty; because II would impose less tax
Let suppose hen that so low rate Ia ADOPTED tnat
no iron DO made In this country In compenuon win
the Enesh is an undeniabe fact that while we can
make iron With as little labor on the the English we
have pay three times much for labor and therefore,
without counepoise the production OF iron must cease
in this country.
The whole production Of England is about 2GOOOUo tons
per annum Her consumption is fully l,5uU,ouo IONS,
leaving 100000 tons for expectation 10 all the world Our
consumption iron is 1000 900 per annum of which We
produce 600 600 TONS The business ceasng this
must come from England We undertake TO buy II IN COM
petition with all the Of the world, who must have Iron;
and the result is obvious. \ demand tor oVVuVo TONS
must be followed BY increase in The price or IN
production 1t will be said tina, the former will take place
temporarily, anc the laer permanently This Is an error
The production Of iron Crea; Britain Is already one OF
the wonders O. the world and is fac; that every avaa-
bic spot for the cheap production Of iron is ALREADY occupied
Her beds only nexhausibie bur well Defined
thai in most places you caculte with unerrnS pTecl-
for how many years the will last. Thus at the
Gartsene Works the centre OF Scotch Pig we were
informed by the highly intelligent manager who lately vs
ted this country that all the easily accessible would be
exhausted in about ten years. at the present rate OF produc
ton.
that TO throw the business Of making iron entirely into the
hands of Great Brtan would be raise the price very
high point and operate as permanently onerous tax on the