Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1857-04-18

paws upon hi capital. is TINS nothIiig -
How plainly does such a fact show the ex-
travsgance Of the usual ideas upon the sub
ject of protection.
But, sir, in point OF fact, there is another
reason which should induce him to lay aside
all apprehension in regard to the price Of
wool. 1t is the fact that the raw material
for all textile fabrics is rising rapidly, and
rising everywhere. The demands of the
manufacturer are SO great that raw wool,
silk, flax, cotton, all are rising, SO as to af-
ford the best prospect to the producer Of am
pie prices hereafter. ] believe that the eff
feet Of such change as that which | pre-
pose, general reduction of something like
one fourth in the taxes laid on the people,
will be to remove the heavy weight which
how lies on the spring of productive indus
try, and to send forward all our great in
dustrisl pursuits as with bound. The nav
i.ator viii launch more ships on the ocean,
the cotton planter will put out a larger
breadth of his crop, the farmer will increase
his fields, the grazier his herds, the manu-
facturer his spndles-yes, sir, and even the
sheep master will stock his pastries and his
walks with larger flocks. These great into
rests will grow, not at the expense of each
other, but with mutual support and sympa-
thy The increase of one will but extend
the market for another. Auxilaries, and
not adversaries they will live and thrive to-
gethcr.
If all this be so, the only other question
which suggests itself to us in regard to this
matter is, will the proposed scheme produce
the desired quantity of revenue Upon that
point | am convinced, from the examination
| have given it, that the danger is, not that
it will produce too little, but too much The
estimate of the Secretary of the Treasury Is
that for this fiscal year we shall have S66,-
900, 600 of revenue The general redue-
tion which propose is about one-fourth.
I will not say that it is exactly accurate, but
it is nearly so, because the reduction Of the
schedules are not precisely uniform; but |
shall come near enough for all practical and
approximate purposes when / say that the
reduction is about one-fourth. When you
come to deduct from the S66, 600, 000 one
fourth, it will leave us forty-nine Or fifty
millions; but it is to be remembered that
the amount of those duties which has here
tofore been laid out in the shape of price in
the consumption of these commodities, will
not the less be invested in them when the
price is lower; so that it is fair to presume
that the consumption of these articles will
be increased by the amount Of the reduction
of the duties, and the revenue by the aver
age rate of duty ON them. The present av-
erage is nearly twenty-four per cent. !; the
reduced average will be eighteen per cent.
We shall find, when We come to put this
eighteen per cent. on the amount saved In
duties, but which will nevertheless be laid
out in imports, that the amount Of revenue
will at least be Gfty-two or iifty-three mil
lions of dollars j have tabular ealcula-
ton on that basis for the year 1855, which
gives less, Of course, as the receipts of that
year were less than those estimated for this.
But | need not go into particulars. | give
the above as the round result s; and whoever
will take the pains to make the calculation
on that estimate will hnd it so.
But, sir it is Obvious that when we come
to reduce the duties, the consumption will
be increased; the people will lay out not
merely the principal and the duties hereto-
fore paid on those commodities, but some
thing more; SO that it is fair to assume
that the revenue from customs, under
the reduction which I propose, will bo
something more than the estimate which
I am giving. For the same period it is
estimated by the Secretary Of the Treasury
that there will be six millions of dollars
from the public lands. making s0ee fifty
seven or fifty-eight millions of dollars; and
he tells us that in the last five years the av
erage of expenditure, exclusive Of payments
of the public debt, has been S., Gee, goo;
80 that we can see that even this reduction.
as great as we can venture on at present. Is
more apt to produce an excessive than de-
6cient revenue. At any rate. it is as far as
it would he safe, under present cfeum>tan-
ces, to go. believe, however the day is
not far distant when a mere revenue duty
OF fifteen per cent on our imports will give
us more money than we ought to use.
Such, Mr.. President, is the probable ope-
ration of the measure which design now
10 propose. | ask very short tine fur
Their, for the purpose of contrasting it with
that which came from the House of Repre-
sentatives The bill which passed the House
Of Representatives did nothing but add to
he free list. II placed amongst the free
articles others which had last year given us
a revenue of little over six millions Of del
lars All, therefore, that it reduced the
revenue, according to the usual principle Of
calculation, was about six million three hun
bred thousand dollars, leaving, if Mr. Guth-
rie's estimate Of 500, 100000 be right,
something like $50 900, 600 to be derived
from customs; and this, in addition to the
revenue from public lands, would give US
500, 900 900, which is far too much for the
economical wants CT this Government.
But that is not all that bill does no.
thing for the consumer. On all the arti-
sles which he uses the duties remain as
they are; the addition to the free list is
only for the benefit Of the manufacturer. As
said before, in the first part of my remarks,
/ am willing to give the manufacturer the
raw material, for which he creates the only
demand, free, when you bring down the o.
Their duties to the revenue standard But
until you do that, / am not willing to give
the manufacturer ali that Ee waits, whilst
you leave high duties to be paid for by the
consumer think that every modification
should go pa,ai passa. AS We relieve tie
one, relieve also the other, so as to create
an interest in both parties for changes, when
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