The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1863-01-28


protection to New England manufactures. -
The customs being paid in coin, the price OF
coin goes up. As paper money, increases,
the price OF coin enters into the price OF
the article upon which there is money tar
the conturner pays it. For instance. the
importer purchases one dollars worth OF
prints.in England. When he enters them
Tor consumption be pays 80 per cent. duty,
and be adds to TIE original purchase making
l30. He also adds the difference in ex
T change. GO per cent, making, with the first
cost and duty. 100. On this sum he charg
es bis profit OF 10 per cent, or 10 cents,
which makes 50 %. On this sum the re
taller adds his profit OF 20 per cent, or ~
cents, MAXI the cost to the customer
50 81. Thus, under the preseur tariff and
paper money system, the manufacturer gets
an actual protection of $50 per cent. Do
yea wonder that the manufacturers OF Mas
sacbusetts divide their regular 10 per cent,
and from 20 to &C per cent extra on the
FIRST OF January? The Naumkeag Mills of
Salem divided 66 per cent. extra, and the
Peperill Mills at Biddeford, Me-, divided
! 80 per cent extra. Many other mills dlvid
ed large extras at the same time. Do you
wonder that certain pefsonsI in Massachu>
sets want the war 10 continue for selfish
purposes? These and other aeis show how
the agricultural interests are impoverished,
and how the lieblood is sucked out by these
manufacturing vampires from the veins OF
labor, though q high tariff and inconvertble
paper money. Agriculture gets no protec>
tion. Its surplus above domestic consump-
tion seeks foreign markets and receives no
benefit from prohibition or protective tariff
or IRON an inflated currency. Hence. sgri
cultural products do not rise. Let this pro.
cess go on lew years, and the wealth OF
the West will be transf sferred to the pockets
Of New England monopolists and capitalists.
This is poor way to sustain The credit Of
the Government, which depends on taxes,
confidence and union. 1t was poor return
for the pat, lotto devotion Of the " est to the
Republic. II such policy prevail, it will
increase and not mitigate the feeling in the
West against New Englsad. | speak this
in warning and earnest devotion to the
Whole Union.
Mr.. Morrill, OF Vermont remarked: As
, the gentleman from Ohio was distinguish
ed leader on the other side OF the House, it
was perhaps necessary to say that it was the
almost unanimous conclusion that the inter
est on the permanent debt should be paid in
coin II this feature Of the bill were strick
/, en- out, whence would the Treasury procure
coin Tor this purpose?
Mr. Cox S ann ndment was rejected.
The second section was amended So rs to
authorize the Secre iary to issue 100000,
600 in treasury notes, the interest, not ex
ceedng six per cent. payable semi annually
in coin, and the principal payable any time
A after three ears from date, such notes re
0 ceivabe for internal duties and all debts and
' demands due TO the United States, except
. imports, Nothing in this section is to be
# constructed to authorize any additional issue
Of legal lender notes.
MIR Pendleton mov,d to strike out the
third section Of HE bill providing for the
issue OF S500,0G0,O0O legal tender notes,
saying that on this subject the Admnstra.
i tion was divided against itself.
+. After some discussion, Mr.. Pendleton's
amendment was rejected.
A new section was adopted, that after the
o 1st Of March, 1868, the coupons OF all bonds
e OF the United Safes heretofore issued, OF
n which uay be issued under this act may al
] any time thirty DAYS before they become
due, be received for customs as coin. under
such regulations as the Secretary of the
Treasury may prescribe.
n The committee, beloio completing action
on the clause taxing banks, laid the bill
e aside.
. Mr.. Arnold addressed the committee en-
d the subject OF ship canal to the Mississippi
d lie said it was the duty OF statesman moi
t only TO crush the rebellion but to sement
r the Union. lie spoke of the devotion o
IT the West to the Union, and that no section,
al appeal could ever shake the loyalty of The
glorious band Of loyal States. The Wes
: would regard as traitors alike those wht
o suggested peace with any portion of the
# Mississippi in rebel hands, and those who
n suggested Union with patriotic, brave New
. England lett out. The Northern from iel
e must be defended. This canal is the cheapes
5, and best means Of de lending 1t. While thu
70 Atlantic coast is projected by forts from
T. Maine to Florida, and by navy the North
ern frontier, not less important, is entirel,
i within easy cannon range for hundreds 0
miles Of foreign territory. The Northwes
! cheerlully pays her portion Tor the de'ens
d of the Atlantic, and will pay further tn
le large appropriations req quired but we ask, il
,e justice, that the Northern frontier shoul,
:, be- secured. He showed that the lakes b
lie British gunboats, and that lake cities an,
l> commerce were alike exposed to destruction
He read letter rom Admiral Porter show
e ing that we had now afloat more than fit
lie sunboats which could pass from lakes t
ID ocean by The canal lie then presente,
ne the fiscal commercial and agricultural inter
est seeking protection 5Q900O,0OO busbel
OF breadstuffs were shipped from Chicag
Sc during the last year. The commerce OF tn
in lakes was at least $400,000000 per annuu
l. Corn was now king, and kept peace betwee
he Europe and America. This enlarged cana
ry il the cheapest mode OF defending the lake
10 This will turn the Mississippi into the lake
and u ite forever the East and West. Ever
de dollar thus expended in defense cheaper
nd Evaporation The capacity OF the propose
he Illinois canal will be Twelve times that
e the Erie canal, The largest steamers whic
ng navigate the MISSES pp will steam direct
'm INTO Lake Michigan These grand resul
he will cost only $l3 100000. it will rap d
ID pay for itsell, and will be grand nation
highway. 1t will add to the taxable prope
lr- ty OF the Union as much as the Erie can
rt has done. 1t will increase both our abil
ors to borrow money and to pay it.
rs; The committee rose and the House a.
he journed.
led -
in WASHINGTON, Jan. %.
ate SENATE Mr.. Foote was excused fro
no further service on the Naval committee
,ad Mr., Hicks was appointed on the comm
to tee on Foreign Relations, Mr.. Arnold
Naval Affairs aud Mr. Turpie on the COZ
i've mittee on Public Lands and Claims. q
tnr Mr. Grimag asked IN hp pxnuspd from Fl,