The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-11

Edo I'd. sss s,., g s,;::
s s.S% a., e sSSS sSSs SSS
The above tables show that the production Of cotton
IN z and
the quality India cotton Is good enough 70 drag
down the price Sfcur own growth a. happened in Liver
pound equal to fifteen or sixteen cents Of money in
less than six weeks.
The natural course seems to be for cotton 70 de-
cline perhaps very slowly, and BY Ats and starts until
IL reaches half IL present value II the growths OF 1909
and asos ave ana equally natural 70 suppose
three four millions Of bales and sell them very low
prices before the cultivation in the Bombay district will
The prospective dinhcultee Of the American planter,
even without my tae on cotton, are great; probably
SOUTH there are s, larEns IDEAS that American cot
ton king" For " he secures large crop he 10
TO meet low price, while i his crop s short and his
earnings therefore small the cultivation In other
tries will continue 70 increase
Yet at this very time whom he is struggling for exist
being practically export duty equivalent 70 chsrs
ing him with that amount for the purpose Of paying II
ssiI il is expected he Is 70 compete succsssfuiy with
those growerk Our knowledge Of the proposition 10
mainly derived from the sketch 81 bill for amending
the Internal Revenue act published days ago in our
pARsm s.. ,...o,..,. \. ,u,no,. ,n., va -. s,,,
pected BY some persons 70 be sixty seventy cents pr
pound this summer, while the present average value 1t
csSts, and s 70 20 % forty cents muss Be nom
q sa;pss:d isurs q d. growth o. ss
millions q revenue win be derived from this tax and
connects with the Recommendation other proposed
weather portion Of chr country the tax referred 70 s
oppressive 70 the south vs:1 The reduction Of taxes
On income 20 On cotton Sn goods when az
bounty on Their production from two i've cents per
pound The abolition Of the TAI Of one dollar psf
barrel crude and one nfth 81 that refined psro
There In shsss and other notifications suggested In
o oS q YOUR Committee % CALCULATED 70 5rOvoss
hostility the South and 20 excite all hone6f minds
a. the North The hope that such purpose VII not pre-
prepared enter into competition with the manufao
iursn OF the North for the benefits 70 be conferred
goods exported They not and cannot be for years
70 come; and the impcston OF discriminating tan,
the poor Of the south poorer operates as discourage
meS 10 those who, with heavy hearts but honest en-
desvcrs, strive y regain their lost footing
to lin up those who ARE now cast down. by juss and
generous Legislation 70 inspire the Southern people with
70 psoous the era oi political and commercial disruss
" 10 Is true that whom lone member suffers all the
member .aosr With s ~ your committee r would grgs
interest Of the South alone, but for the good
Of all the States Of the Union.
Mr. r. A CovxIno said he had listened with great
deal Of pleasure and instruction TO the reading Of the
report, but iAiled TO be convinced Of the wisdom o
some OF the conclusions arrived at The fact that Con
gres-tbs representatives Of the peops-had though
over the matter with great elaboration, aud decided
what best 10 he done for the interest OF tho coun
try made him rcnt the subject with great delicacy. Hc
prepared show that tho cotton cop Of the United
States could bear duty Of i've cents pound without
injury 10 amy particular section OF the community Ths
committee have srrivcd 10 the conclusion that cotton
cannot be produced al lees on thirteen cents per pound
which, with the prcpord duty, would bring u 10 eisn
teen for export II appeared from the report Of
the Secretary Of the Treasury That the crop Of fsco
which reached ave million bales raised Al tho cos
Of Ten and $500 VI cent per pound THIS ~.st