The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-01-11
Mss.,ns or the Petroleum Trade.


MEMORIAL TO CONGRESS- FOR MODIFICATION OF
THE TAX.
largo and enthusiastic meeting producers, refuers
and merchants engaged the petroleum trade held
Friday at go Pearl street, Mr.. Cogzans IN the
and Mr. lhos. s. Dakin acting secretary There
was very in attendance Of producers, refpers aud
other prominent interested the trade, from the
various localities where petroleum produced refined
aud sold The object of the meeting, stnted by the
pointed al previous meeting, Of which Judge SeIdcn
Marvin chairman, and TO discuss tie proprfety aud
pediency II memoriazing Congress 10 modify the tax
proposed by tho Comm ssoser of Internal Revenue on
petroleum, believing TO DC disastrous the md
the future development OF ,ss product4on.
II further stated that this meeting called for
the purpose OF obtaining the OF the trade OF the
country large aud of any particular class OF ope
rators; also, that meeting had been held, pur
suapt n call .: the United States Petroleum
Association Of tho city of New York, At which it
resolved 10 Congress impose tax
crude OIL but Increase tho present tax of
fifteen cents per gallon rebped for domestic consump
uon
The committees report, in the form Of a memorial ,
unanimously adoptedasking for a or tive
per gallon on crude at the wells and draw backof the
same amount refined oil exported. THIS tax, ~ would
seem from statistics, would afford fully the amount Of
asked from petroleum. ut the same time be OF
less expense TO collect the most simple and least obeC
tonable 10 the export trade besides being greater
lection to home manufacturers. ~ committee consisting
OF Messrs. Marvin baom, Downing tozzans, Waess Bar
Mowbray and Finch appointed TO proceed 70
Washington to confer with the Committee ON Ways and
Means urge the adoption forth the
memorial Of which the following is a copy
10 THE HONORABLE COMMITTEE WAYS MEANS
rfE HoUsE o RgpREsESrArrNgs-
Whereas. he United States Petroleum Association OF
the city New York, did call convention Of the pro-
dncers manufacturers and dealers petroleum AZ their
roos on the 9th inst for the purpose OF considering the
best method Of meeting the wishes or the government
regard TO the imposition OF increased petroleum.
we, the undersigned, being delegates 10 said cOnventon
ana dissenting from the action or The same-beev!lg
that their recommendations do not meet the Of
large majority OF the manufacturers, producers, and
general dealers pesroeunwoad urge the adoption Of
the principle embodied in resolution submitted the
Der, who also neInher ar the Committee on Re.olu
tons Of toe said convention, which was substantially AZ
follows-
Resolved That lieu Of The method present prescribed
by the Internal ta,in raising
nue. from petroleum, is eSpedent ,hna exceeding
hve gallon collars per bsrreli should
imposed on crude petroleum wells. that
illuminating OIL and exported % foreign countries draw
the eraae arcle, sua be allowed and PAID the
We believe that the Recommendation OF the Hon Secre-
tary Of the Treasury W repeal The present tax on manu-
featured Illuminating oils, and impose tax crude
petroleum al The wells when sold any purpose what
the true basis OF taxation this article and that
the method Indicated 10 the foregoing resolution is much
10 be preferred 10 the plan recommended by the majority
o the aforementioned coDventon which directed 10
be presented consideration by special committee
from that body of which Samuel Downer tsq. chair
maa. IN support Of our views We would urge the fol-
low rs consbotThtponS-
Firs; Tie tax above recommended would yield the
amount OF desired by toe government, while
would Eo Increase the price OF the article for domestic
coDsumpt,or.
Second "A tax TINS imposed would much simplify the
mode OF collecting the aud render the OF
collecting than under present system,
han IL would be under the system recommended by
majority II the above convention while IL would, at
tbc TINE operate Incidental protection the
relIers {! petroleum. in the Cnitea States.
IL relation TO the hrst proposition 10 wit that the tax
Of i've per gallon crude OIL with drawback Of
i've cents Ter gallon refined, when exported, would
yield sufficient revenue the following statements
submitted
u estimated that the production crude petroleum
In the United states, for the 1888
Of 600 barrels daiy 2.ie0C 600 for the year.
o. five cents gallon, ~ per barrel upon said pro-
ducton when sold, would tie $4,000 per day, or
~ $50 0oo for the year and with the present develop
ments equal production may be safely anticipated for
1864.
From statistics furnished by the export trade IL an
pears OF the production goeg 10 for
eign countries OF the whole amount exported. about
oueihird is crude-whch would make the amount OF
fned exported, about 10000 barrels, upon which draw
taken from the gross receipts would revenue
10 the government OF s3,430o00 by this system, the
government VIII receive tax OF hve cents per gallon
all the crude exported and about three gallon
oil the refined exported whereas, by the law now in
force revenue has been obtained from the large
amount CT oil exported The would thus he Ia.
creased more than ~ 900 900 per nnnum.
We would also recommend that the certificate 81
government officials upon proper proof u expectation OF
manufactured OIL be used IN payment or tax ut the wells
Fully believing and expoeitons TO be correct.
We pray your honorable body 10 give 10 them favorable
confederation. and that adopt them report
the House o. Representatives by he adoption Of this
system Of tax petroleum, believe that uetce will
be rendered all branches Of the trade aud suitable
protection afforded TO the manufacturing interest
NV YoKE, Jan. 8, 1864.