New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-02-11

placed that Of 1916. BY it TIE 100 per cent
schedule of 1916 was reduced to 30, the 80 to
"a. the IS TO 10, the 90 to Is, and large in
crease was made in the free list. The result
was q reduction in the aggregate OF - per cent;
and the consequences, by the lst OF july next,
public debt of uncertain amount, but approach
ing the frichtful sum Of 500 600, OCO, so nearly,
at least that these four years of peace will have
left us saddled with as large a debt remained
from the two wars with Great Britain in the
year 1894. Beside the burden of this debt we
have now the prospective troubles and derangc-
ments of business to encounter. We require
system of finance that has in itself fair prom
Use of adequacy, in its returns to the Treasury,
and trustworthy offer of security to the public
creditors.
The bill before the Senate meets these wants
as well as any that can be devised. The proof
that it does so is that it is, substantially, the
tariff of 1876 revised to rates, and only changed
in the manner of evying them. 1t has been in
the hands of the members of Congress who are
now supporting it for quite two years. They
have industrousy examined it with the help of
"a
its provisions. Nothing of labor and inquiry has
been spared that could be commanded IN the
investigation; and the result is a system of rates
in the specific duty lists as nearly corresponding
te the dd uaiorcm rates Of 1876 upon the same
articles as could well be accomplished.
Passing by such calculations are difficult
we present the following instances Of the sub
a., I,t, al
lected from thirty.si1 millions worth of railroad
iron--calcuated at appraiseEent prices-in the
six years ending on the LIST Of July, 1859, was
equal to Sl2 10 per tun; the specific duty fixed
by the bill is SD per tun. The price Of all the
bar iron imported in the five years ending June
80, 1857, averaged $50 % per un yielding at 3Opcr
cent, duty of SIS &C per tun; the specific
duty in the bill is SIS. The I'D ralorem duty on
pig iron for the same five years was at the rate
of s. 81 per tun; the specific duty asked Is So
The reduction of the nd rdiOrem duties of the
Tariff of 1916 upon textile fabrics to their equiv
alents in specifics is not so easily and obviously
demonstrated; but we are well assured that con-
formty is attained in these as nearly as the na-
ture of the subject permits. An intended de-
parsure in woOlens especially IN flannels and
blankets, s made to correct an enormous blum
der of the Tariff of 1876 in respect TO them In
it the raw material was rated at five and ten
per cent higher than the manufactured articles.
The pending bill puts the matter right, aud in
harmony with the principles Of the standard
which it follows; altering the duties upon wool
and wooens rightly and with due respect to the
interests Of all the parties concerned. The bill,
We are satisfied, leaves to the supporters Of the
Tariff Of lSi6 no ground of objection as to rates
of duty; aud the virtual correspondence in this
respect is sufficient assurance to all who must
judge it generally by the standard best known
to them.
Its differences are: first, in its largely -ncreas-
ed free list, TO which its Opponents-eIcept those
Of the ultra free-trade, Cobb Secession school
viii take no exceptions. But as we are not now
concerned with those who would bankrupt the
Treasury to destroy the Union, or resort TO
direct taxation for the purpose of crushing every
form of American production except that of the
Gulf States, we will not stop to defend the sys-
TEN of protection against the charge of its mani
feet tendency to introduce legitimate free trade
as the country grows into fitness for its adoption.
The other difference is in the substitution of
specific for ad raiorem duties, ~ far as they are
practicable and convenient. We can scarcely
tell whether this aspect Of the bill is its first cr
second best claim upon our appreciation. Its
probable adjustment TO the demands OF the
Treasury gives it the first rank in the emergency
to be met It's fitness to foster the industry of
the country is less satisfactory if not instant
ly pressing. But they are 70 intimately i'll
yolyed and 20 mutually dependent that they
may be considered together. Indeed, larger
aud more thorough view OF this subject than
we can present just now, would show that
that Revenue and Protection so together, how
ever they may be put at war with each other
by bad legislatiOn-that they suffer mutually and
equally ia the issue of every conflict that occurs
between them; not always step by step, but
always before their differences are reconciled.
Combining ourselves for the illustration of this
proposition to articles of import giving the readest
and safest demonstration, We present the fluctua
tons in the revenue raised from foreign iron
under nd uaiOrem duties. The import price has
varied in single year from e. lbs. to ca l5s.,
at the highest price yielding, under the duty of
30 per cent Sl2 50 per tun; at the lower,
falling to 81 %. The aggregate of the customs
revenue, upon our whole foreign imports for the
fiscal year, has varied in Immediately successive
years from thirty.Dine to forty millions, from
sixty-four to y-three millions, aud from forty
seven to ffty-nne millions, under the same tariff,
that of l8IG-and all within the Six prosperous
years Of 1850 to 1855. Here 80 have u differ |