The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-04

6ucon by the pronts o. the importer tie tn on the
material and the pronh a She manufacturer his
sssy Cor mat tax and me importers sreOn and
q the merchant through whom IL passes 10 the consul
ner, interfering wMh the manacturers enjoyment Of
both the home and the foreign market on the
Of other nations, who obtains the raw mate
rial, free OF duty. single example illustrates
no osse Great Britain admits .ool raw material free
81 duty, and The United States impose upoa duty Of
oAirty per cent This enables the Eagsh manufacturer
% interfere with the American tacturer In the Anne
Ucan markets. and 70 exclude him from the foreign
kss II does more: surrenders the markets Of .he
countries producing the material the nations
IKE H. free Of duty Our manufacturing and CONNER
ciA States enjoy the markets OF planting and pros
ssn States because there exits impeding duty, giving
seSerence TO foreign nations; but manufacturing,
conn erca and provision States do enjoy the mark
es Of Mexico Central and South Aueri0e and the West
hdes nor Of other nations inhabtng 6 shores OF the
because these nations DO MOI s ,h
nv material, which we tax. and other nansas tAxe,
es Of duty, in exchange for manufactures and other
red com nercial with them yield the
trade 10 the European nations Had tho suggestion for
admission of the maseriA-the productions OF those
oOuntries-free duty, received favorable oonsdera
on at the session OF the thirty third Congress-,
would have been importing the raw material the produc
Of tboee countries, IN ships, and those countries
would have been taking from In exchange the produc
OF all sections the Union. With preiucces and
aRtpahies essenng we would 5000 have become bound
them and they 10 the strong and enduring hgs
nept u Of mutual and beneficial commerce. Additional
employ ment would have been secured IN our tonnage
md ADDITIONAL markets Tor our manufactures OF cotton
and other products Mexico, Central America, South
America the West indies and other nations the shores
u The Pacific, would have been learning to dde
and would have had increased interest in the
bbty and prosperity OF their governments. The
hxgement Of the free list and the Admission of the
naserial 10 suggested ~ the best and sureot mode
Il giving increased beneficial employment,
tonpsge and increased beneficial markets Tor our man
afactures and other products and of cutvatng Amty
and nendshp with of Southern neghbors Rad also Toe
best mode O promoting own property next after
the mutual free trade enjoy with other. Mutual
dCfnl commerce REQUIRED 70 eetAbllbn
with nations lasting relations OF and friend
uhp and re- move from their minds ali sporenenson
eur expansion We should seek CON merca and not do
minion When they shall know aod feel that commerce
alone Object and thst a. beneficial 70 snem as
us, shall win their confidence and friendship
VII be lasting.
Hw be seen that the Total GOLD silver coinage OF
ne United States mint from 1893 when the mint
sabshed, TO stu september, 1885, has been $54s, 3
Ola H. and that the in port from 1920 wnen the
account drst kept has been s!ss 6C5, 43 aud The
export Si36 ,bs1, 354nere being account OF toe ion
pogtz and exports prior 70 1870.
h he not desmea possible Tor agricultural. manufAc-
turing and commercial nation 70 prevent the export OF
eeld and silver commercial anssc asns gold
and silver, besides being . OF value, constitute
Articles commerce, and obey a Of demand
and supply. The export may be restrained by having
gold and silver currency OF nxsd value and allowing
the circulation Of bank notes or bank notes not
soaverble into gold and silver demand and q foreign
thai calls for larger exports OF other articles
ohAo OF citizens make IL necessary in
BORT; but whilst od silver continue products Of
mines remain articles OF commerce. int rual and
tesna requiring equivAen exchanges, the export and
6pors Of gold and silver vii connnae and should Dc no
OF alarm. The desideratum OF sufficient uniform
currency OF . fixed vsiue, in all the States and
Territories, al that required, so far as currency
II concerned TO secure Q sound and healthy forega
Asd Internal trade. currency, partly composed
q bank notes. has q liability and 70 some ex.
bsns tendency 70 excess against which convertbinty
lnso gold and silver 10 security, the
ssanning discounts 70 notes and bills representing real
transactions, security and never viii be. whilst there
such thing over trading and over prodaction and
ig the reasons pure metallic currency would not
constitute perfect security against dimn shed or re
aundant supply. Coin vanishes under the influence OF
vars or pprehended wars Internal revolutions sres
posscai andAppsebended political chan DELI
Soocy N The gram crops, recurring large imoorAaoas
lassons End continued unfavorabe course Of ioreig
trade.
me Establishment Of pure metallic currency would
require the Withdrawal Of the corporate authority gwen
BY Stale charters 70 ,Ses banks " and circu
ss bank n':ss os oo0 mooey and me SoassqIens nth
Ccnsrezs has no power 70 act upon the cnar
ssrs granted by tne States, and the ssates may
Starters, and certainly would agree
Asr Of The 20 Congress; therefore pure mealnc
sslIeney NY oo ss' osa - p .saoe =, saeo. oui
nent ot people Statement No 81 gives, rs expect,
Cd increase In the number Of chartered baaks il me
Unted and increase In the capital Soy cd by
than. They constitute commercial q encios with S3t
eco Geo Of capital rney circulation seariy
200 900 OF bank notes and AFFORD such valuable a.
sa1sles all branches OF our INDUSTRY 10
desirable 10 dis pense with taem Their circulation
~ DO 80 regrisiei Is 70 give prscc. uniformity sna
ana aloSns the gold and silver coinage 70 take
Ihs place The bank reports 40 NOT the several de-
OF notes, and amount Of each In crculatoc
bus leave u 70 estimate Of OF S5 and under,
vhsh may be SET down u siourh Of me whole. or
In lsa4 before the gold mines OF California we're dis
covered the amount Of gold and silver tho country
vss estimated 500 ooo, 0oo The imports, aod toe
e~pas Of buIoa the mint from mines aftrr deduct
M exports, the sotn September, 1885, have
added TO the smouat o. god and All
Yer country without taxas into consideraton
auDo emlxYDLR Yoturuok trIvelcrs
amount carried out ~ travellers and merchants
entered ~ ths custom house. nor the Sunt used in
manufactures employ ed in tne asn The superin
Of The matte TIE gold and silver
M country n $40 ooo, the daA stated Ia
department ., $3.50, coo, o0o upon data and
khs rrssons stated in my lss report Bat whe
DER be the one or me other there n mas e. oeeS
n stso, eco 600 sipce the working OF the mines
W California Ths acords satisfactory PROF thai toe
ESQ., oCo OF small nosc circulation could be sap2hei
from In the OF tsrce ~ four years.
wuhout dersnsing our currency OF expressing any
srs ocn o. productive Industry. Ins only difference
reign demand and the CONSUMPTION OF less amount OF
issisn merchandise. THIS healthy operation of trade
manner provision be made 70 have tns snail note
circQlaton Withdrawn ano prohibited. In zone OF the
Ases there chartered banks, ana Other OF tue
states have authorz d the ISSUE OF small notes;
Whit others under COZ vcton o. the III eject upon tne
eunercy and upon their productive interest have proo
s1sed their and Their withdrawal rna u
rest a correct corrected pu ,hc sentiment ami
may expected, later, 10 extend sef she
ssher Aiss and thus accomplish the entire sthdra~sl
a. sman notes. and the substitution Of gold sad
silver 10 Their stesd Tor all small daily
transactions, including The psymens Of wAss
This may not be accomplished for years;
bat Justice those compelled 70 ann, notes. aaf y
States tha, have used have prohibited tner
10 coppexion rnn the losses failure - redeem
sAsn demand, always inllcis Upon labor, or suoh
81 them, ~ n render presentation for paymsni IN
ys.sss.ele a.a ,as nIsuen o ., IKE los: may vel
gress authority 10 prohibit All restrain their aad
such amendment 70 be called for By the Slaves
shas have not used, have ceased 10 them. A,
present attempt prohibit and restrain the ssue and
circulation 81 small notes oy resort 70 taxsfon, or oy
appiyre bankrupt Lass 70 these corporaiens voud be
prcmasure. 10 my former reports tue sabet has been
brought the sttsnuou or Consr with view 70 the
consideration Of the evil snd dagger 10 currency
from Their continued under the hope that Congress
~ the states authorizing their issue. sould tate
aCeson 10 extend the restriction and make gene
rnl TX th8 small notes are withdrnsn And
ywobibitsd, believed the operations OF tbs
treasury, In the collection ADD disbursement OF the
49,