The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-07-06


m influence the compAras prosperity Of England and
America assuming practical shape nasauch A. that the
taxes have already become large and must soon Aeet te
migration Of capital and the cost d produenont~o very
important points bearing upon Engsh manufacturing pros
pery The important elements In the Of England
financial centre manufacturing and commercial EN-
porium for the world consist IN her large capital winch
be supplied freely In enterprises Of prdnennn IN
cheap food and low money price FOR labor which are the ee
Of employing that abundant capital and hnay, ID
the freedom from taxes on food and materials, which
with the modification OF old navigation laws enables me
vessels Of all bring thither their several national
products FOR They do THIS at es rates Of freight
because tey are sure finding the ample warehouses 81
England available eghts for every quarter Of the globe
In the Of Great Britain 10 be found the
Gpest aud cheapest asorenS Of the products Of al ma
ons vessel making MP trading cargo may there and,
although articles may b. dearcr than AZ home in
freight at cost averaging less than can be obtained
anywhere elise IN proceeding them it out she takes
freight cheap. From the English docks, therefore, rad
late vessels Of all nations with cargoes composed q
al national products assorted in different proportions Tor
every market in the world large portion of these car
goes the manufacture which cheap money food and
erial have enabled English labor produce The esab
shment Of the warehouse system, during Mr.. PoIk ad
mnisraton, has tranaerred considerable portion Of that
trade 10 the United States il has enhanced the facilities
or composing those cArgees here Nevertheless the eap
al and supplies have been greater there To preserve the
aeendeney the government Of ls42 commenced the plan of
transferring taxation from labor 10 capital and the object
(
alton upon many articles and becomes burdensome
upon capital The effect Of is the price Of
food and materials and must make capital dearer
thus taking away the elements of manufacturing ascend
the very moment when the United States most
vigorous in competition.
When the duties modified lsi2 Of I'd. in the
pound laid upon all El50. That tax has
been extended all incomes Of sl0o and over, and
raised TO led. in the poundthat say 81 per Of the
income The mode Of calculating it is TO deduct onehird
from the income and divide the balance BY TO- and the
mainder is the tax Thus person may own Is, 3s5
in percent consols his income will be sI0o, s4s4
his tax viii be E6 lbs. I'd, Sa2 20. This for all
cerkships and all other small is tax.
II has more than doubled in few years. and there is
but increase the expenditure Of the
year being placed 1000 against s5i,
600 600 last year. of esq 600 600 This
seren-y var win ii il is not increased
oneouth the present national debt The incomes under
ElG0 taxed by the income hence in corporate
companies the deducted from the dividends when paid
because the company paid the tax would cut
Of the profits Of those who draw less than E0o and who
adludged liable the Nevertheless large capital
lists feel this growing burden and the cessation
The present price Of consols is 81 for 60 200
buy Go 600 E300 dividend of which de-
ducte the s2o and there remains ESQ for interest
60 200 which less than per cent The amount Of
money 200, S4452s) invested in United States
lbs, would purchase $50 e4 which the interest
would be 81 ~, 4a cent the Investment The
increasing upon incomes practical reduction in inter
4
Of So the holder gets but e. 1885, and the dividends
OF all companies similarly affected. The operation o.
this in face Of the fact that confidence in American invest
revivng migration Of capital If the
fa consoIs might tempt investments the actual declining
those conso by Of taxation, must repe in
The mig ration Of capital large scale wsud
cheaper in America and it's value England The
manufacturers, then would lose the difference of about
their favor, which has nsuaiy resulted from the
comparative Talue Of money here and there and that is
important item the Of goods The exports and
Of England this year and last compare as follows;
1854 slOO, 1000 s56 So $40
\ 1855 sOo0ooeo S. 100000
The taxes were year but per cent Of the value
the exports they this year exceed them. This enhanced
be charged upon the productions and by
HANGING their diminish the power Of England compete
aith Der rivals Dear food is also incident OF the
Dear money food and labor with additional taxation result
from the Of war and many bonuses favor Of
American manufactures According the Of 1857
the number Of persons assessed the schedule d.
lA606l OF these, 900 under $3.50 each and
40 1879 between $3.50 and 81 600 The of the 40
c. $50, which average Of f64 1901 each
per the ETA 5ls $40 40 each. The
persons this year pay El70392, SIG each. be
marked that the number OF persons with incomes 81 600
il II ,D3l, and the number Of paHpers 500 600
United States food necessarily be cheap labor
Il migrating immense extent and capital pretty sure
follow What remains FOR Congress to do is remove
obstacles b. clearing away all duties upon least
materials.
The business the port for the past vsar presents
aluary features there has been large reduction al
ports with reduction III exports in diminished ratio The
Of gold IN the federal treasury has been $40
the supplies from California have been 81 coo less
making S. 100 gold for the service commerce.
Of the treasury such that feels but slightly the
revuson which has taken place during the past year
merce, giving very emphatic response that question
which was formerly asked Of Mr. Walker with 80 much unc
tnn--viz What il a revenue tariff n
There has renewed demand for money business
purposes but the offerings the banks have equaed the
receipts leading further loans upon securities
atinc stock market The bank Of The geek show
the exchanges towards this city. The payments Of
interest b. several ropanes States, and corporations and
the subscription to the New York State loan added
largely the depostes and specie The exports during the
past week Of specie 81 sSs 9ss Nevertheless the
bank increased 1886 and the interest on the
federal debt win increase Is st further this week The re-
turns a. follows
Lnans strc- gircu mon. ytepoxiiss.
JuHr q So 1ls45 5aag y gt5s5a s6a,ssl .sea
77,5-z- o,a q, o5 -
The greatest in the Manhattan Bank arising
from deposes the New York loan. The greatest in
the discounts has been upon stock loans There
be disposition 70 relax in the shipments