The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-18

/ ox.o,. :, to the advantage of our own merchant
snd ;n,norss Here are the points,
/. prior 10 n. requirement Of cash duties, ant
when tho ;,Dno,... 'uld pass his bond for thu
omornt 90 ar,;o. =. L. IDS, on long credit, abou
three-fourths Of our importation. " 'ore'sn H""u
featured goods was in our own hands.
q When cash duties were substituted 'or pohds
our importers found the change to DO oppre>s
and in order to relieve commerce, without cndangsr
ing the public revenue, the warehousng system was
introduced.
.. Since that time the importation of foreign
manufactured goods has changed hands, and proba-
by not less than quarters is now imported for
foreign account.
The working Of this Is, that the foreign manufac-
turcr sends his own goods here, stores them in
the public warehouse in large quantities, and when
trade opens springs them upon the market, to
the detrment Of our own importers, for the
manufacturer can always successfully COM
pete with the importer, who has paid .
profit on his goods. The foreign manu-
facturer has, therefore, great advantage over our
own merchants owing to the facilities he enjoys I'M
der our revenue laws. II enables him to keep his
men at work and send his goods when made to q
sure market, thereby overstocking our market Now,
if cash was required for duties on arrival of his
goods, the foreign manufactures would not be 80
ready 70 send large quantities here to wait for
the opening of trade, and our own importers would
have much better chance for the disposal of their
goods.
The annexed is comparative statement OF the ex-
ports exclusive of spece) from New York to foreign
ports, for the week and since JAN -
1866. 1856. 1857.
Total for the week go. s2,542t7s 1o47596 2l2l 55l
Previously reported 55o20ea 6s AGA 1872 04Oa6 1856
Since January s57 ia 7o4ll,s27 6e,2os 2se
Within few weeks past Michigan State stocks
have appeared for sale at the Stock Exchange in
small lots. They have not often, heretofore, been
sold at the board and to enable persons TO judge Of
the value Of these bonds, il il desirable to know
something of the fiscal affairs OF that State The
State Treasurer in the last report made to the Legis-
ture on November 20, 1866, gives tive following &C
count of the State indebtedness
University bonds principal due ist July 1853 $4,000
Pontiac X. X. - " LIST July, 1855. " 600
Penitentary &" LIST jan, 1850. 900
&c LIST Jan, 1850. 10000
Full paid million loan bonds due JAM 1858. 177,oo0
Adjusted bonds due lst January, 1868 1708, z5
The part paid SIS 900 600 loan bonds outstanding
when funoed will amount 10. ............. 1872
Outstanding internal Improvement warrants. 4,l5S
Internal Improvement warrant bonds. interest
stopped and payable on demand .......... $3.50
Total. s., ga, 1856
Cash on hand December l. 1885, ........ ssss,o5
Brokers licenses. ......................... 800
Railroad specific tax .,................... 100000
Plank Road specific tax. ACKNOWLEDGEMENTS. 2,sS4
Mining companies II,lso
Interest on surplus funds 10000
Pedlers' licenses ....................,..... $50
Primary school interest ................... g24 $40
University interest Observation-Disclosures. 1854
Normal school interest NEUTRALITY-SUSPICIOUS.. $3.50