Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1857-11-26
NO. As.

millions or twenty-lbree Der cent. The
average Of the 6rst four years Of the tar.
III Of 1896 was thiny-three aud fourth
milliOOs-twenty-fVs per cent in four
years; the aVersse Of ils second four years,
vas hfty-four Sod three-fouhh millions;
rising IN eight yeas tWenty-Seven and a
half millions per anBum, Or one hundred
aud tbihy-thFee per cent.
The average annual consumption Of for.
eigu imports per cspita under the tariff Of
1924 amounted 10 t5.a6; dnder the TAR.
if Of 1928, 1851; uLder that Of 1912 to
$500; while under the lower tariff Of s46
during the four years Of It's operation pre-
vious to The influx Of the California gold,
the consumption rose to $3.50 per capita
Of the population, and under The very low
average duties Of whole period Of the com.
promise the consumption stood at S7.28.
These facts show how much more pro.
duetiye Of revenue the lower tariffs rates
are than those which, though considered
higher, are yet far short Of prohibiting i'm
Poration, or seriously interfering with The
prosperity Of the carrying trade.
Causes ofiarger reUeRue from loUer duties.
As means of lesseniDg the revenue
derived from customs, or Of lessening its
proportion to the public expenditure it is
thus made apparent, by the facts Of con-
elusive experience, that a mere reduction Of
the rates Of duty cannot be relied upon !;
but, on the contrary, that the policy has
always the directly opposite effect and this
for many obvious reasons.
A reduction Of duties induces increased
impotatiOOs Of foreign commodities, dis
turbing our money market by diminishing
the available capital, and enhancing its
rate Of interest 10 our own manufacturers.
The importer obtains command of the mar.
bet, and, to the extent to which the home
competition is crippled 10 the production
Of such articles, it opens q vacancy to be
supplied by importation, and adds Just 50
much more to the customs Us such supply
from abroad will yield; and, there
fore, so long as the country has the means
Of purchasing such quantity of foreign
goods, so replacing the home product. the
revenues will continue TO augment, instead
Of diminishing under the lower rates.
Again: an increased demand for our
breadstufs aud provisions in Europe, occa.
siOnel by failure Of crops there will have
the effect, under a low tariff, OF inducing
large importations, aud, consequently a
large enhancement Of the customs. In the
famine year of lS47 the customs rose ei rLt
millions above the receipts Of the year i'm.
meliateIy preceding, and every deficiency
Of crops abroad, to the extent to which il
occurs, must have proportionate effect in
the same direction.
Again: alarge increase In our agricultu-
raj and manufacturing products, BY afford.
ing a surplus for expectation at any price
which will pay transportation, will have
similar effect.
Again: foreign wars, By increasing the
demand upon Us for provisions, induces
corresponding increase of our importations
and a corresponding augmentation of the
revenues resulting from it.
Agsin:abundant productsof the precious
metals by stfording the means of large
purchases, operates in the same way.
And again: the system Of railroad and
other enterprises, uow in active operation
10 this country, which demand large capi-
tai on long credits, bring loans in i'm.
mense amounts in the shape of dutiable
merchandise. 10 swell the customs.
All the causes above mentioned, except
diminished rates of duty and great failure
Of crops abroad, have been in operation
upon the customs since the fiscal year Is49
80, and we have their combined effect in
raising the revenue derived from this source
from less than forty to over sixty four
millions of dollars per annum 10 the space
Of four years.
In the last year they fell of eleven mil
lions, owing to the absence of some of the
causes which We have noticed, but their pro-
duct still stood at thirteen millions above
that Of lS49-'50, and nearly six millions
above that Of l85I-'52.
Alterations of excess and deficiency IN
the revenue under daties lowsr than
proiectire.
From these facts, and the law of nation
al finance which they illustrate. it is otvi.
Gus that the ratio OF percentage imposed |
upon imports, acting within moderate
range OF differences, is the least influential,
and the most likely to deceive expectation, !
of all the causes which usually affect the
revenues arising from them. But low Gu
ties not only di,appoint the intention for
which they are recommended, in the man
ner and for the reasons given, but, by their
own inherent vices, they are not only liza. |
bic, but certain, in despite Of all modify
ing influences, ordinary and extraordina-
ry, to work mischievously in the opposite
direction--in spasmodic alterations from
excess to deficiency.
The first reduction of the duties of the
act of 1882, provided for the compromise
of 1888. took effect on the lst January,
1884. At the end of that year the pub.
lie debt was paid of, and there was bal
ance in the treasury of little less than
nine millions of dollars. In 1885 the
revenue from Customs aud the sales OF pab:
lie lands rose thirteen millions and half
above the receipts from the same sources
in the psOeeding year; and in the year
1886 they rose fourteen and a half mil
lions more; so that, at the end of the year
1889, there was balance in the treasury
of forty y.six and half millions. To dis
nosa of this enormous surnlus of nuklic