New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-05-21
IMPORTAEr ACTION ON The COTTON TAX.

attracted the attention and excited the alarm
!. the merchants Of New York. The persons con
: posing that class of the New York community
although they may not be educated in all tn
wiles of politics, or capable Of approaching Nj
Summers syllogisms, are sufficiently enlghtene
TO foresee the eneTYating and destructive effect
of the proposed measure. Accordingly as 500
as the report Of the committee was published, K
gether with the speech of the chairman, Nj
Morrill,, in its support, meeting of the New Yor
chamber of commerce was called to take th
subject into consideration. A committee wa
appointed to examine the question, and to make
report on the effect Of the proposed tax of fY
cents per pound on cotton.'' At subsequeI
meeting, held on the llth inst, the report wa
made. 1t is very decided in opposition to tn
proposed increase of the tax on cotton, an
II exposes very lucidly the many reasons of politi
cal and economical nature which combine to rem
der the measure in the highest degree unjust
impolitic and injurious to the agricultural ant
commercial interests of the country. 1t is very
suggestive of the present tendencies of opinion
in that great commercial metropolis that the mo
tives which appear to influence body like the
chamber Of commerce should be as well political
q as commercial. The report declares that when
measures are to be adopted affecting the indus
tries Of large section and Of numerous people,
these measures should be characterized by a
/ spirit Of generosity, which will take the sting
from the declaration that taxation without
representation is tyranncal,i" and that it ought
to appear in after years, when prosperity is again
restored to the South, that " in the days of her
weakness, the North and West did not take undue
advantage of the South, discriminating against her
industry and imposing burdens too heavy to be
borne but, on the contrary, that spirit Of mag
nanimity ruled in the councils of the nation dis
posing our Legislators to deal generously with the
people Of the South, thus to aid in restoring
| them from state of weakness to condition of
strength"
This is peculiarly important, in view of the fact
that among those who strenuously supported the
report were Mr.. Opdyke, formerly Republican
mayor Of New York, and Mr.. @. W. Field, who
has always hitherto been identified with the Re.
publican party.
The practical reasons which influenced the com
mittee, and which are deemed by them to be CON
elusive against the policy Of laying tax OF FIVE
cents per pound, are as follows;
Eirst-Ihat the cotton interests in India, Brazil
and Egypt have accumulated large capitals from
the high prices of the last three years. while our
planters, as a rule, have lost all theirs
Second-That nothing has yet occurred to arrest
the extension of the cotton production in those
countries, and nothing will arrest it short of ma
teIial and permanent decline in prices hereafter.
Third-That in the last five years railroads have
been opening the traffic in India, and other
means OF transportation have been improved ; and
as the Indian government guarantees an annual
dividend of not less than five per cent. to railway
stockholders, we must suppose branch railroads |
viii be made wherever they are likely to pay
FoHrth--Ihat during the four years famine of |
fnH fafn1 o1ffa ~,
ments have been made in the manufacture of yarns
and fabrics from India cotton, SO that eminent |
who thought formerly that they |
could only use American in making their standard |
fabrics, have found that mixture of four-fffths
India and one-iifth American or even nine-tenths
India and one-tenth American, produced the reuui-
site quality; at least SO it is stated authority
which your committee are forced to respect with
out beng competent to indorse lit.
Fifth That the expenses in the United States Of
producing, transporting and selling at the ports
exclusive of tax, must be estimated this year at
not less than thirteen cents per pound in case of
yield of two and half millions Of bales and abont
Two cents more if the yield is less.
Accompanying this are some figures and Stats I
tics, which at this moment are fraught with much
Importance. In order to show the amount Of for
aign cotton which is now imported into England
he following statement is given
The average imports into Liverpool, from Let az
January 70 10Th April have been as follows, in
lales:
er threeyeaFs- 1gpIA EdYrr. Bnazn.
~ Is8 isSS5 s 1899 s 3$S
ISIS e isJs .s...!.., $4,000 1AOoo $1,000 4
Quantity known ION 2Oth April, atLiverpoolJ to 4
K At sea for England from India Gin bales];
On 10th April each year.
- "a 8Ss IsiS
Stock Of all kinds nf cotton in Tisarroo1 a., A,,;