Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-12-29

as cannot undeEtake to return r sctsd coumunicstoh
sAsTAs Co. and nat personally Of tie Prorsi
ReP0rt Of ths Secretary Of the rrcasnE1
On ihe state % the Finances.
g9osrssEDI
The experts Of Agricultural production. exeep
cotton ard tobacco during he sane period. shoi
an actual deefease, which, however, is not q faf
Comparison as Is47 vas year 8 fauains ia EuroDe
out the increase of those exporis By q liF eompsr
ison Of the iva periods IS about from Is 10 100 pcl
cent 10
or the experts Of nanafaosarss; tssse or iron
and the manufattures Of Iron are f0und 10 be 1871
so5 o5iiossls3 lS9s, . s4''-v q A Increase s. 562,
am aware that large exports Of an article nav
sDmetmes result frOG adveriiy Instead Of prosper
\ ~, as when TIE holder unaele to make sales a,
home ships goods abroad, az LIST rcsert But It is
taxing cur ere -uliiy 70 be told that experts of
large class Of articles VIII ge on from year 70 year
/ While the manufactures are anabls 10 compste A.
home Wiah the inPorier. though PFotecle Cd hy fsR-
y four or even nineteen per cent And II IL be said
Z that the year 1858 vas one in which the state Of
1sngs referred to espeeiaiiy existed, comparison
q sas exports Of tae preceding year. oaneedsd 70
( pc oae e remarka5ls prosperity, wiz shOH the
same resalt
Z win not ssaiss to say that his prosperity IS
/ ewing to the i1far 81 gold from California Tbat
has been eeuse o seusral rise 10 prices and Of
increased asilvty ia ~ i1lsirel depart uents, but
no reason is Psre ,fPa Wy .hs agrieullgrp Of he
country should not Be as much stmulaled b thai
cause IS the man1factures. Yet, While both have.
increased the mantiiaciafe8 have incrta-za lsstar
whereas If they had beeR SERIOUSLY injured 81 ~
tariff OF l84e, they would, at most hsve irprar,i
more slowly than other interests not 30 sfecfed
I prOeeedto to consider the Quesifon Of the best
mode Of revising the present tariff with 3 vier 20
raising sufficient sum to meet the demands Of the
public service, II has been proposed tc repeal the
act o. 1857, and restore the act Of 1916 10 this
suggestion there are serious objections, which 90
my mind, are insupeTable I am Well.satisiied that
the wants Of she government do not require psrma
neat increase Of the taxes 10 the extent Of rey7ng
the tariff Of 1916. The duties Of forty and one
hundred per cent imposed by that act are, in the
present condition Of trade and e0mmercs, wholly
iHdefensible- The public mind Of the country will
scarcely be brought again to cquiesce in any higher
schedule than thirty per cent, he maximum OF t6e
present Law. Il would ceTtainly require scne r6re
urgent necessity than exists at this time 70 Justify
such measure.
Il has also been proposed 70 adopt the principle Of
home Va uation, VIII view. fret, OF increasing The
rates Of duty, and, secondly, Of guarding agsiust
undervahlation and other frauds which are alleged
70 exist under our present system -...' -,
As a measure for increasing the revenue. ibis
proposition possesses no merit It seeks 10 DO fnis
recly Whst can be better effected directly II the
So b shod and manly way. Al present the duty
is imposed aFeRt he market value Of tbe mefchan~
disc 81 tse ffi1ci 81 rsrkeis Of the country frcm
whlol hs islleraeiica incleding an costs
ard charges V sai
To substiiute FOR this tcie treipt y kue-
valuation Would be 70 add TO su5A 71lu5 g t
chandise the insurance, cost Of transp p5Ieais ,i..
levied, aud profits Of the Importer
Il ought to be sufficient reply to the proposition
that some OF these elements entering into the homs
value are not legitimate subjects Of taxation. 0th-
er and more serious objections VIII be considered
in another connection The reason in favor Of home
valuation, which has been pressed with the most
earnestness, is, that il Wipro,ect The revenue from
fraud by under valuation. The sdvogales OF the
change allege that, under present system, the
governments is defrauded, BY various means Of iis
legitimate duties upon large portion Of tae ins
ports. In proof Of this charge a comparison has.
been Instituted between the value Of cur exports and
imports for the last three years showing that the
imports were less, BY large amount than the ez-
pOFts. --r 81
This difference is charged 10 under valuation.
The remedy proposed is either home valuation OF
specific duties. L is true that The exports for the
last few years have exceeded the Imports. but
the inference which has been drawn from it Is not.
necessarily correct. Other causes have coutrib
uted 10 bying about this result It should be borne
in mind that ports are valued at the port Of
exportation. When these exports reach falling
market abroad the retnfn cargo win exhibit in he
diminished value Of the Importation the loss sus-
tanned by the persons whose account the exports
have been shipped This often constitutes an I'M
poTtaat element in accounting for that excess Of
exports which has been attributed 10 fraud. The
payment BY our citizens Of their debts in Europe,
which for two years past has been largely dcRe, the
transactions OF bankers and brokers in excaaEge
and smuggling, a species Of fraud conmon 70 every
system, all atf'ot the OouparaiiFe amounis Of ex-
ports and Imports $3.50.
haf Fho1 Il n, f.r4 a.
ports imports ehafggabIs 70 the al valOrem
system and the present mode valuation, the fact
should be found 10 exist net only during She last
few years. but during the whole period Of the exis>
tence of the present system. An examination Of
experts and Imports (as will be by refers
enos to table for series Of Yearss will shOF that
such is not the case Tariff OF 1886 Was in opera
ton over ten years. During that period the whole
amount Of cur exports was 81 5I2 BSl 5ZT, aud our
imports duribg the same period abaounfsd 10 81 566
250,828 fhs adyocaies Of hOme Valnation have
fallen into the error BY oOufning their comparison
to a limited number Of years.
The general result which have stated indicates
that If frauds have been pfaetieed uponih rsgeane
il is not owing 10 our present al yalorem system
This viii appear from a comparison Of the exports
and Imports during the operation Of the tariff act
Of 1872. That act the distinguishing features Of
which we're specific duaies and minimnm valuations.
was ia operation nearly four years BuFing that.
time our exports amounl ed TO S423 681 CAB and our
Imports 70 S4t2, l35, 1885, IL che argument drawn
from the excess Of exports over imports be correct
this statement would indicate that greater frauds
have been committed under a tariff Of specific dutes
than under the ad yalorem &c. Of 1876. IT, howey-
er, il be true that frauds are committed uuder cur
present system 10 the extent charged, viii change
to home valuation prevent he svifl 10 furnish
satisfactory 10 this inquiry it win BE prop
10 examine the manner Of asoertainiDg The dusia-
bic value Of imports under existing laws, and what
would be required to be done under the proposed
charge Al present the appraiser is called upon to
ascertain the valus q The article il the principal
markets Of the country from which it is broGght
The data upon which he Is TO make up his jud gment
are; lst. The prices current which every CONNER
cial community supplies. ID The information 70 be
derived from the Communication Of consuls aud
other commercial agents Sd. The invoice Of the
importer, made under cath, and also made in view
Of heavy penalties incurred for fraud and undsr
valuation. 4th comparison Of The invoices o
the various importers engaged in The same business
and not unirequenily Of the same daiea 5lh The
experience derived from daily examinations ef The
ehsFacter, value, and price Of the article
These, with other ordinary ehsnneis Of iaformae
ton common to the pubic furnish, It you'd seem.
ample means for the oorrset aud fsiihfl disobaraS
Of the duty.
The additional element Of cost and charges q