The daily union., 1854-12-17
THE DAILY UNION
REDUCTION OF THE TARIFF.


Accompanying the report of the Secretary of the Treas
ury the finances table No H. under the following
head Comparative of the working of the
istng tariff of the project of the Secretary the Treasury
and of the bill of the Committee Of Ways and Means at
the last SESSION. for the year ending June 80 1852 and the
annual average for the six years ending date with the
percentage Of each article This a valuable table show
ing at one view the changes proposed in the existing tariff
by the Secretary and by the Committee of Ways and
Means The general result according this table is fol-
lows
By the existing tariff the amount of duties for the year
ending June 3o 1853 $5s,672,39o 26 the average
during the six preceding years was S409o7is 2s
BY Secrearys project the amount for the year ending
June 30 1853, would have been S477o9,32o 81 and the
average for six years $3o,s43,ols 90.
BY the committees bill the amount for the year ending
June 3O 1853 would have been S43757osl l6 and the
average for six years $3o,3sa,3ll 10.
1t will be that the reduction proposed by the Secre
try for the year would be $l0372069 75 by the com
mitte $3l5309 To- the average reduction for six years
proposed by the Secretary is $7264Ge9 &c. and by the
| committee, $lO574,376 54
According to the existing tariff, the articles which
duties imposed divided into eight classes and the
fixed suit this classification The Committee OF
Ways and Means take the present law the basis of their
notifications and reduce the schedules from 40 80 and
rs per cent all to per cent retaining the 5 TO- and s.
percent schedules with ransposton of articles from
schedule another but with these differences pursu-
ing the general policy of the act of s46 The committee
therefore, propose five duties instead of eight viz
| 100, 20, Is, TO- and 5.
The Secretary agrees with the committee in retaining
the lOOper-cen rate exists in the present law, but
rejects all the Others and imposes duty Of % cent
all other articles not made free Most of the articles in
l5 TO- and 5percent schedules he adds to the free list
In his report the Secretary says that upon mature reec
ton he is fully satisfied the 40percent schedule should
be retained keeping in it wines not made Free and adding
to silks of all kinds aces of all kinds millinery of al
kinds and other sumptuary articles" Thus modified h'
project of the Secretary proposes to make three schedules
of 100, 40, and rs per cent
From this statement it will appear that the Secretary
proposes reduce the mainly by increasing thu
free list whilst the committee propose to reduce it by di
mnishing the existing rates the articles which now
pay duties of 4 3 and rs per cent The Secretary
ognises in his report the principle that duties should b.
levied for and not for protection but he con
sders departure from the principle to counteract thu
legislation of other countries, and make the articles
free under our laws that free under theirs" The Com
mittee of Ways and Means recognise the principle
and consider that will be best preserved by conforming
the reductions the policy OF the act of 1896 II
purpose present to discuss the question OF protection
involved in the difference between the two propositions
The country has generally acquiesced in the polio,
adopted in framing the tariff of s46 that the reasons o
its abandonment mus be made strong in order to secur
the popular approval Upon the whole as the Secretary
and the committee agree to the great principle upol
which the tariff ought be modified the results of the
plans differ but little good reason to doub
that the differences between the two projects to the de
tails may be arranged and bib be agreed which vii
preserve the policy Of the act of ls4 and out tn
principle of imposing duties for revenue and not for pro
lection