The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-02-07

more than three times many those beyond that pro-
portion
But the Secretary has not Disseminated in this table be
tween those invoices which were marked up" by
chants and those which advanced by the appraisers
The act OF lS46 allows merchant, if he has TO
believe he bought his goods at than ten per cent.
below the market value TO mark his goods up that
value. for the purpose Of avoiding the forfeiture The
law does not presume such act 10 be fraud Ii did
II would not give that permission Indeed that provs-
OF ,he act OF s46 arose out OF the fact that much
percnce had shown its necessity in order protect
sometimes an honest importer from undeserved PEN
atty Before that act, the merchant If he were honest,
mad 70 produce his invoice, and If that showed that he
bought ms goods, as often happened than ten per
cent below The appraised value, be incurred forfeiture
This occurred often that the Secretary frequently had
70 remit the forfeiture, under power vested in him by
the act OF May 1880, its being proved that there
no design to deceive Now the Secretary does not tell
us how many OF these cases. the table to which have
Ielered were cases where goods marked up by the
importer HIMSELF nor does he show how many the mp
pTHsers advanced
But take il either way: suppose they were marked up
by the appraisers, does il not show the sagacity, the
aerness and hdelty with which public officers dis
charge their duty in relation to these matters! When
come TO ses the great majority OF in which the ad
vances were less than ten per cent cannot avoid the
conclusion that II is very difficult deceive officers,
and that their scrutiny is close and so accurate
detect any small differences between the invoice and the
market price take. then. Mr. President this very table
to prove the sagacity, energy, and fidelity with which
officers discharge their duties and detect fraud
But the Secretary also furnishes with table Of
wines and sprs in which he shows the average price OF
wines and spirits imported under specific duties and the
average price of the articles under ad vaorem du
tes From this It appears that the average value OF the
wine imported was much higher under the system Of spe
c6c duties than under that of al valorems But that fact
does not prove fraud 1t proves precisely what the friends
OF the ad valOrem system predicted would take place. 1t
proves that under the system OF high specific duties the
consumption OF the article is confined TO the wealthie
classes and to the higher priced varieties; while under
the ad valoem the poorer and classes
enabled to consume much larger of the cheaper
kinds OF the same article Let take the article of Ma
de,ra wine, for example, which figures largely in this
table On this the specific duty was 60 cents. The
price under that specific duty for the nine months
ending June &c. is4s was $a 20 per gallon or The year
ending June 30 1884, 81 49, After the specific duty had
been done away WITH and AL valorem OF 40 per cent
substituted, the price was reduced 1t for the year
ending June 80, ls4s, Al cents Tor the year ending
June 30 S49 4S cents and for the year 1850 81
per gallon.
We thus that under the high specific duty the rich
man. who consumed wines at 81 80 per gallon, did not
pay 40 per cent OF ad yaorem but under that sys
tenn the VINE at 4S cents per gallon would have been
taxed more than 100 cent and thus placed beyond the
reach OF the more numerous and poorer classes But,
under an ad vaorem as high even 40 per cent, this
article was placed within the reach of the poorer
and the itself thus greatly increased
This fact then. much relied upon evidence of
iaud is rather proof OF the farer operation OF the ad
vaoem SYSTEM not for the purposes of revenue bat
also IN the distribution OF personal and individual
fort.
ad vaorem duties IS by no means new subject OF dis
cussion and this difference has been used heretofore
an Argument IN favor OF the latter mode of raising
enue This subject, too, has been discussed in more
countries than II you take up almost any modern
book on the English system OF finance, You will find they
discuss the operation of the high specific duty upon
French wine in diminishing the and excluding
the poorer classes from the enjoyment Of innocent
tiee of consumption Such is the precise Argument OF
Mr. Porter in favor OF lower duties He saye "the
sumption then would be much increased, and great ad
he IN m he n 10
people"
repeat. then, Mr. President, that this table, SO far
from proving fraud on the part OF the Importer is TO be
taken rather evideHce OF the Improvement in the OPP
Grafton o our revenue laws under the ad valoTem sys
TEN.
Bu, there Of the accuracy OF our apprasemen,s
which, in my opinion, certain still than any yet
referred to The Secretary OF the Treasury has given
table OF mpors and exports for period OF twenty
years and nine months from 1921 TO $780, Ii you take
the sum OF the imports consumed in this country and OF
the specie brought in, and deduct from that the
the domestic exports from this country and the exports of
specie the difference between the two will represent the
share OF the profits the export trade and the share of
the reights which we receive. say this of i'm
ports represents these elements because imports
valued IN the foreign market Now, il take periods
of me and show that this of imports over ex-
ports greater al period than at another greater
der one ath than under another, II shows OF two
thingse,her that share OF the relghs and profits
upon exports greater when the Of imports
greatest, or else that the imports fairly APP
praised, and estimated more nearly according their
value daring that period say nearly according to
their true value, because there danger of from
over-valuatlon That such must indicate OF
these two facts not 10 be doubted unless to
suppose. what known not to be that, addition
other things, we had imported securities from abroad
which, not appearing the custom house books, reR-
deed II impossible to institute comparison between the
imports OF different periods.
Now, SIR have taken the trouble OF going into this
calculation Tor the purpose OF seeing how IT works.
find that, calculating upon this principle, (see table a,
end of speech) for period OF twenty years and
nine months, share of the profits upon the export
trade, together with our share OF the eighs, amounts
TO about $40 per cent but find this does not rep
resent the whole OF those profits when we come TO look
little closely into The statistics OF the period Du.
produced IN this country, and during that period there
steady current OF specie setting in shores
or other words OF the importation OF specie
over the expectation from this country. The presump-
while importing tha, OF Others. We should add then
the specie item what produced. That is TO be added,
because II differs from the other productions Of labor in
respect 10 it's capacity Tor being accumulated in unequal
proportions by different countries II is the common
property OF the world II flows through all the avenues
lions OF The earth who currency, each nation
having precisely the proportion due TO the relations be-
tween its export and import trade, precisely the proper
ton which the OF exchange has given it 1t mat
efs not then, whether you import seventy Millions and
add 10 IT forty-seven millions produced at home, or
whether you import one hundred and ten millions
Either result would demonstrate the same fact in the
course OF trade and indicate the relations between
exports and imports. The amount, then, OF gold
produced here should be added 10 show the profits of
trade. Making the calculations upon that basis,
shall find, during the period Of twenty nine year.
and nine months, that we mus, add per cent, !,
which will make the whole profits II Clio per cent
Now. | take three years unuer the tariff OF 1886