The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-23

pad In con the price Of goes up ss papcr monsv
price q ,he article upon which there h money
tsx. Tue consumer PAYS II For instance, tho
imports purchase purchases one do'laI's worth Of prints
m England When he oa&ers them fer cousumption
he pays so per cent duty THIS no adds 70 the Original
purchase, making 81 90 He also adds the difference in
duty, 81 90 On this he charges his profit Of 10
per cent, or 10 cents, which makes % CO., On this
s ns se s % S sha prS o. 70 or ~
under the present tariff and paper money system the
manufacturer gets an actual protection Of $50 per cent
no you wordor that tho manufacturers Massachusetts,
divide their regular 10 per cest and from 20 70 SO Der
extra The Is. Of january Tho Naumkeag Mills Of
Salem divided 10 per cent extra, and tho TepperI
Mills, B,ddeford, Maine, divided so per cent extra
Many other mills divided large extras at the came time
Do you wonder that certain persons IN Massachusetts,
other facts show now the agricultural interests are p-
yer@hcd, and how the life blood sucked by these
manufacturing vampires from the OF labor through
high tariff ard nconvertibe paper money. Agriculture
gets protection Its surplus above domestic consump-
ton seeks foreign market, and receives no benefit
from prohbitye or protective u.s. an inflated
currency Hence agricultural products do not rise Let
this process 20 on few years. and tho wealth the
West will DO transferred 10 the pockets Of New England
monopelsts and capitalists. This poor way 10 sustain
the credit Of government which depends on taxes con
ndence and Union II is poor return the patriotic
devotion OF the West TO the republic IL such policy
prevails will increase and not mitigate the feeling in the
West against New England. sneak this in warning and
earnest devotion TO the whole Union
Mr.. MORRILL,, (rep) OF w., remarked as the gentleman
from OHIO was distinguished leader Of the other side Of
almost the unanimous conclusion that the on the
permanent debt should be paid coin II this feature
OF the bill stricken out whence would the reaspry
procure coin for this purpose?
Mr. Cox's amendment rejected
The second section was amended SO % authorize tho
secretary 10 issue four hundred millions in Treasury
notes the interest not exceeding centu payable
semi annually IN coin and the principal payable any time
after three from date notes receivable for in
terna duties and all debts and demands due 70 the Unit
Cd States except imports, pohng in this section
construed to authorize any additional OF legal
der notes.
Mr. PENDIEToN (opp) OF OHIO moved TO strike out the
third section OF the BILL providing for tho of three
hundred millions Of legal tender notes. that on this
subject the administration divided against itself In
these days when loyalty TO the administration only s
deemed loyalty to the country those who support the
administration in somewhat strange position The
President says the currency already much inflated
prices beyond their real value and general nte
rests OF the country suffer- He had expected TO hear
something from the Committee of Ways and Means about
that message.
Mr. HORIZON, (rep) Of Ohio did not know that il was
exactly fair TO expect every member support every
thing cmanatng from every member OF the government
DE might quote familiar maxim, As the times change
we change with them and he would further say, when
the measures before the committee they would give
them careful and deliberate consideration ACCORDING 10
their best judgment and all the Information they coudob-
sion that there was TO along except giving the
Secretary this power The message had been referred TO
the Committee Of Ways and Means and when they got
time TO consider and report it. he had doubt they
would express their opinions frankly and explicitly The
bill before the committee should be judged It's own
merits
Mr.. RIDDLE, (opp) OF Pa said they should consider |
themselves most unfortunate that the President had not
issued proclamation declaring this system Of finance TO
be established rs matter OF financial necessity. He did
not doubt that the majority Of the House would have
supported him in doing (Iaughter.) or
Z he had issued proclamation altering the |
oeges Of the months or II" number Of the days Of the
-r 'es a.Esz 10 nanrst p thu French rv,x,-.s
\ ,.,,, nave gov maofity 70 sanction IL on the plea