New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-08-12

y.
poi din ipc1es,e Of tie revenue from customs waSo
ler an orosch equal or e1ces the reyenue ron cos
toms Of the high. tariff bot in s iustsn 'e- Avn
10 c,ssppOnt any expectation OF reduction % INC
on.,.u, in proportion 10 the statement of Toe rHt~S
second. The increase Of imports conrt 9ue.f upon
rSuciioo VI ute. below the point Of sdeq 1ate pro
ect Oh drives manufacturing capital ana Isoor mo
agriculture and tade, and by this meens vssuY ~
crea,ts the from the soe OF the pnosc tn's
and from fueien CONNIE; ce and thus makes up all de
6c pcy in the Custors and greatly overpa.ses ~ ana
10 pds to plethora IN the Treasury, instesa OF HUI
ting It's income and restraint its Overflow. D.,
y lard The indirect effects of the same pofcy "a 10
exhau.t the sources Of national ard ind ydu nepsr.
y, ard BY It's reaction bankrupt the Treasury and
PROSTATE the enterprise Of the country; leaving a.
public and private, to PudHh the e1travagA nce whlcn
pduc, sno iLduged
Your Committee, therefore, for reasons cogent a.
thee 81 many Others which depend upon these, but
are iriteyant 10 this sue Of mere national hnsnce,
would earnestly encourage any measure which ether
in prpcipe or in details aims at relieving the Tn asury
Of r present proept Give surplus by reduction
OF the present rates Of imp,-t duties below The point
which any branch OF our hoie inoustry requires iof Us
security prosperity. To guard aga'n-t aoy poes'
bic mi COM uc'ion il must be observed that oy the
frequent ausons Of this report TO excessive importa-
tlois OF foreign roods ano the differences drawn hom
-uch excess of impor son, the apparent pa Al OF
trade az amt the Unite States, which The statements
| OF the Tiea.ury Department exhibit for any single
year, for any grVups OF years Is 40, sks9
or intended 70 any effect or purpose for w1ieh the di
|
poits has be used by either party n the controversy.
| Tie total value, or valdatoo, of orr imports, a.
given by the DEPARTING Mt stat ments from the beg n
| mn o Of he l;ov-rrm-n Mt the 30fh of ia re- 1898,
amounts 10 s6 9s3 600 0OO the exports for the same
| period Of domestic ana foreign merchandise aud
spscie to s6l7O coo 600, differ, nee OF 1900 OOo
No conclusions whatever Drawn either a. to et'
feet or auouLt Of effect from the data which our m
formation AZ account current thus offers seems TO
Offer Tae discussion which thi. point would awaken
has been avoidtc, as wholly unn cessay 70 the afgu-
ment Of til report, and P--'by inconcusive aud un-
cerfain for any purpo e. But although the enormous
appareLt balance agsiI in The account ~ our TO-
eien trade be lot reliable for The actual difference IN
our exchanges With the rest Of the word asst probably
is not We, the amount of the National Stste muncl-
prl, r.ircsd bank and other corporation socks and
boz held by or,gIers, should De received as sub
sistirg balance OF debt resulting from psst balance
of trade which ii mus, represent
Foreign Debt a Balance of Trade against Us.
On tie Cd of March 1854 the Secretary OF the
Treasury in obedience to resolution of the senate
reported the amount of such sto, Ks and loans, from
| the stat, mepis rendered II the Deparmen al
| els+0oO,o0O, and estimated those not f-naered ~
! s3s, COO 0C0 more - carving up the aggregate oil
Ame csn boz d. and stocks held by foreigners on the
| 3cth June 1883 to the sum of 1929, 100000
In tn, report of MI. Andrews upon our Colonial ard
Lake trade, be ssys that the system ~ internal i'm
provtmenrs in progress in the year 1852 required an
annual ay of about SEQ, 600, 900; at or compa-
MES for trGt year would br borIogers IN the market
! fo $50 COO OC0 to b "a red, in a great degree,
|
| row,d moey from Eufopeau capitalists a. discount
OF 70 to Is Per cen, and a; per cent interes. per
arrum.
3Oth June 1852 be added 10 the ans aod stocks
created by raj roaa ompan'es thore ct the other
rlorauns in order TO estimate the present amo iot
Of tbe foreign indebtednes Of al these Borrowers IN
the foreign bond and stock marks; AID il j. is put
at an annual pcrt of only $50 100000 rte agsre-
gate will stbId low at foil $500 900 600; and n the
10, Gle reports show evidence If these funds coming
a. .Ia.. oh ali . A.
| form 10 which We have received them; and these
$4,000 eco NUT repce-tn AT least large differ
,uce III acfua value bet the pro ucts OF oar o~
ncpsiy end hose of foreigners 'n'ei into our for
| ecp exchanges duITg the period 10 which the debt
has b, tn crtat.c. The balance of BIT therefore,
vi al. ver its amount, may be nfieny set do as
an ascersined balance Of trade" to the fu extent
| of ito amount.
| Arailabie Means Of Reducing the RfreRue.
Blu, the practical %. elton emains Wnat m-asures
shall be accepted to fleet the reduction Of the revenue
| to the wants tf The Government
If the views e.sdy stated valid it IS clear that
any ion e duties upon those Imports which are
| b, q i'll cheek by fOttered hone poducton would
have the .xacy contrary effect to at intended, and
IT, ihere.or- wholly out Of the Questions and We must
ali. nton to other SUBJECTS aud other me tns
| t. accomplish the tel lion.
Ertession Of the Free list
In the first place. the ex'. hsio" # the free bet pro
poe 10y the Secretary Of the Treasury, If made 70
.mbiace only tbcse a'tic-s which not c4nno.
he y " uttd in the United states 10 snch extent "a
s.rtby to Diminish mpor alton, and at tue same time
shall b. made emb ell such articles, very de-,
cid uctioL-reacbius, perbapa, about s5ooo,ooo
per a. pLm--will be thereby Effected This mO1ics-
ton of the present tariff is deaandsd alike by the
duon Ct the treasury ano by all the interests OF the
community, ant il in every way coDformao'e ~ he
| principles Of q jut and enlig htened Of the
Obtituiion-l power of Congress in the premises.
Wbt never tsxa'ion uDn. ssary 10 the revenue
and seiviceable to DO interest Demanding govern
mental Gale, it il Lot only Us. ss, but Improper aud
| furious, aid ougnt to be abolished.
Diff Gu ties may present Themselves as TO some Of
the articles proposed in schedule consti'nted With
,b intention but they are not in their pature nsu
| perable.
Wool berg article whose culture depends upon
innate, roll and other natural conditions and i,s
| profits upon vanous contingencies demands sJule tt
crmihston and requires 70 he well cohsid red sc-
ult OF the great value and iDpOrta Of it, va ~ as
both to the revenues Of ths Treasury and
the interests OF the grover snd the manufacturer
Uncer the tariff Of 1912, such tisc imina'ion was
made az distinguished the co-rse wool which we do
cot grow, from the finer kincs TO which our climate
soil we'll sdap'td layi, duty of but per celt
upen al such as cost ess than cents pei pound for
the PURPOSES of revenue only, and importing prtc.
tiv, rate upon all such qnalti.s as our oSn country
wac ,pIpos,d capable Of producing
Ffects # he present Tar.gupon Woo, gro,cers, Man
| nfaetpers and upon the Rerenue.
The tai Il OF lsfo, unhspply rsised the duly on all
import WOOL to 80 per c. Mt while il retnced tb,
ou, Oh imported hshn.ls blaLk -ts to rs and 20
Per cent IND On tie coarser wooden fabrics 70 per
| cent.
| Now tbese low-priced mar ufactuJes of wool being
| The chief in quantity Ind vslue of VIII oh W. were
then capable, the business pro-tated by the pre-
um which tLat act IN Il, Il offer,d T. the foreign
nSIu'aciurfr snc the nomir al protection of the .
grow ut in the ruin Of BIS busines q, In III
Of the cotL maker. The home maj k. was DESTROY ed
for TIE fsru er IL the foreign be coua not yee,
ID. hocks were rent To .laughre, b. ca as the
wo, factories had been -od 81 sDc,on or converted
TO Other stryices. The .cts Of the policy on the