New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-12-04

performs rs fui' part 10 OF Ntoos .comuiercia trans
ecii'Ia
TIE money statements OF the Treasury, and state.
fBts Of dfp0sis by oisbursDg officers. eNhbI. aba Il
Ell CCo Co0 ~ oil times il the National Treasury tn.
daily oip's and daily payment covering ,re thso
$3 eco eco Of aunual ICceip aud NOR, than az 900
go Of annual payments, are daily era sag from
banks and busrcss m.n, large amounts Of gold ard
silver into be National Treasury in psyn e1t Of Gus
toUs duty, sn1 in payment for public lands, aai con.
trOlI the bHi X and TIC traders in thfir operations
white The daily payments at the National s-ury ZIP.
ply he gold and silver TO channels Of circulation,
with ut c1usrg undue pressure In mooetlry affls.
For the weekly trans actions Of the National e,sury,
statement No 81 Tbs go 0H, 0C1 IL not dead capita.
The $40 200 or sl2 600 OF it alo we'd TO the
mint and branches, for the purch2e OF bullion, Is
always active being exchanged for bullion aud re-
placed by conege vet always ready for the wa0s OF
The National T,eusury While the the balance ccnsti-
tut the di-Tbuve fnLd that gives confidence in the
ability e the Treasury to NEE. all demands.
In The Uliied States, all real and personal property
IL salabe well The annual producors OF agcul-
ture manufactures and commerce, ano 10 proc peroas
times can easily be exchanged for money, and the
basis OF enlarged aud extended credits and acis in
CONJUNCTION with the bank credits aGd money IN clrcu-
latiOn giving increase 10 the value Of real and per-
s"pa estate, all aIclss Of commerce, and the wages
Of labor, aod thereby creating demand for more
money. IL lie upon this stae U things that wars, or
apprehended wars internal revolutions aud strifes
p6 itica alarms and appreheneed political changes,
defceLces Of crops, the explosion OF large mercantile
specDlatons aid unfavOrable trade, act, destroying
confidence and with it credit, inducing the boarding
The precious LIT tails the Withdrawal of deposits tue
return Of bank notes for redemption, the consequent
stagnaOn Of commerce. in all its channels and opera
tiOLs, the reduction of prices and wages with nabty
to purchase aud pay bank suspensions aud general 10
solveIcy There are no means of entirely preventing
this obstruction Of confidence credit and com nerce.
The failure Of few banks, merchants and dealers &C.
ours IN periods of the greatest prosperity, aud occurs
Annually without nach effect upon the great Interests
ofGo
cautious 8pd prudent. The destruction of all conh-
deDce dit aud commerce affects IN II; remarseless
For this the remedy must be looked for in a sound
currency well managed banks, and prudent merchants
and oesleIs. Under system of wise and just laws,
giving security to property far reward to labor, aud
sf1ordipg temperate and timely control of the cur
repcy aud all mercantile Transactions we may CONT
IDENTIFY hope such disaster will rarely occur. The n-
dependent treasury. when Oyer.trading takes place,
gradually fills its vaults, wtbdraws the depoh's, and,
rtssing the banks the merchants and the dealers e1
trcias that temperate and timely control which serves
to secure the fortunes OF individuals and preserve the
general prosperity.
The indie pendent Treasury heweyer, may exercise a
fatal control over the currency, the banks aud the
trade of the country, and viii do wheneN er the rev.
enue shall greatly exceed the expenditures. There has
been expended since the 4tb of March, 1888 more than
$ij,j!5 go. in the redemption of the public debt.
This debt has been presented from time 10 tune as the
money accumulated 10 the National IU2eury, and
III
been no public debt and no meas of discussing this
large sum, aad again giving it TO tue chlnhes OF com
meTCe, the accumulated sum would have acted fatally
On the banks and On trade. The only remedy
would have been reduction OF the revenue, there
being demand and no reason for lncrca;ed expehd
i.me.
After determining toraise revenue by tariff of tax
upon inn orts tn. question arises TO the best mode
OF fixing the amount Ii may be d ne by lev!ing
specific sum, with without minnums on all aciices
.trls.. 1.g rain Ft
fIegn value or on the home value or by coinb,na-
ton Of the specific and ad val0ren principles. Tue
fret mode requires weghe's, gaugers, and fneasurcrs,
fol The ascertain mt ct the quantity, aud with that,
tie 81 Ill 10 be paid. Inc second requires not only
weigheIs gaugers and measures to ascertain the quan-
tty bat praisefs to ascertain the foreign or home
value Bnd with that, the sum 10 be paid. The first has
but o Get of officers; while the second has the same
set and appraisers in addition. The gcrs gaugers
and mea may from accident, want OF knowledge,
or desen, fail i'll escertainng the true quantity and
so may the appraisers the dutatle value. La the hrst
case there may be 10 the pre- adice OF the Gov
q umelt; ia the secoud case like errors may, fJr like
causes exist III the apprdsement; aud With the double
ft of officers the C If aud fraud are d01-
bIcd he suCcitiC sum ali alike to all Qualities,
and results m unequal and IN us taxation. rhe afti
Gle Il at costs dollar pays tbc same tax as the article
that costs five. strong sense OF the injustice, re-
sultng from lsyying a fixed sum, with or without
minimum upon all articles no matter what the difference
i'm value pedent and unjust to resort to that
mode of |, wing duties Those who favor tariff Tor pro
lee len meier specific taX because the tax is general
Iy higher, and always the same not stlstandlng the
fluctuations in the foreign and home ilue Those VINO
favor tax for revchue, desire ad valoem duties, as
he most equal and equitable mode that nst Gov ern-
neIt can resort TO- IT, TO avoid tue Injustice and lac
quality resulting from specific taxation, IL provided
The value shall also be ascertaine5 and sp3cihc sum
mo rata according to the value II boco nc5 al
yalo,em There may be sOno two hundred articles OF
conme,Ce to which specific duties might be attached,
according to weight measure but there are many 10
which spt cite taxation is not applicable. IL Is uader-
stood hat Great Britain adopts specihc taxation upon
mort imported articles not admitted W Tree entry, anu
The houe valuation upon the residue. There remains
The ouestion between the hons value ana the foreign
value. One objection to the home vaioc, ARISES Ion
the difference III freight ana Insurance irodi loresh
nots 40 the tey,ra pots the United Slater, because
irerh and Insurance. would be component part OF tue
h, me value aud Iesult III making dnicfent bome
value in the different ports to the benefit OF one al tue
u,iudice of another. For ths and obe' reasons, the
totne yaue is Objectionable. The question was fully
consic cred, and my suggestions gwen 10 ne Oonl
tee of the iousc OF Representatives, in letter uader
date Of June :, 1856, which accompanies TINS Report
and is now TeieIiCd To. In ADDITION 10 "hs Is nere
said il is suggested that the al yalorem principle has
been in force ard practice ten years, Is Well unler
stood by the experts III the Treasury In the Cdstom
Houses and mott Of the questions which have presented
themselves during the ten years OF lis operation, haNo
bad the 81 csiou of the Department. ana many o them
u ssuc-ion of the Judiciary do not think 1t would
be expodient now 10 make change, aod give up the
kpos ledge and experience oi tue pas ten Years.
The EXISTING tarlti laws might be 80 mod al "a 10 be
Of nor, certain AID easy execution and TO tue proven
t,1 Of thai fucuaion IN duties OF which the manuIac-
tuIos and the friends of protection complain. The
greater payt Of the collected, Is from lroa
and stce ard manufactures Of iron and ste elk aud
manufactures q SILK, wool and manufactures OF wool,
/, MP aud flax ard the manufactures oil hemp aud max,
and the manufactures OF cotton aod manufactures
Of hich six, WOOL hemp, fax and cotton are eompo-
nept parts and braldies, wioes and sugar. Tie lm,
port Of these articles for the fiscal year 1885, am1unted
10 $685. $40, aud the dut Is ca them 10 80 NO.,
S5o u 90 per statement No - Of this Report.
The pres Mt tariff Laws place portions d these articles