The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-11-26
~ York \. ! !. Dc Cotton Tax.

n SIS
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"a New York w the Cotton Tax.
= INC city Of New York, through It's
chamber of Commerce, has again ex-
messed itself decidedly against the Federal
cotton tax, and determined again to memo
rialize Congress TO repeal Il. Acomm'stee
O. Intelligent merchants, to whom the SUD-
Secs was referred, made report, IN wnicn
fhey contend that the tax Is impolitic and
oppressive.
The Chamber Of Commerce assume that
our cotton has lost its influence In the mar
ks,s OF the world, and to sustain this
opinion they quote the table Of stocks on
hand In Liverpool In September and Octo-
Der last, the rise In prices Of cotton, and
the comparative consumption Of Ameri-
can and Of cottons from oil parts Of the
world.
The stock and prospective supply Of
American cotton in the port Of Liverpool
the "prospective supply" meaning the
amount known TO be "afloat" for LIVERPOOL
on the 18th September amounted to S04, 900
bales; stock Of India grown, 72O, 700 bales.
In the Ave weeks from the 18th September
to the 18th October the receipts and aaoat
for Liverpool amounted to $4,000 bales
American and ls4, 900 India-grown cotton.
The amount outgoing from Liverpool in the
same Eve weeks were Of American, l2l,.
600, aud Of Indis-grown cotton, 2Os,Ooo.
Notwithstanding these exhibits and the
known probability Of short crop in the
United States, the rise in prices in week
was Sd. per pound, or s7h per cent. OF
India cotton, and only 21ad. or TX pei
cent. on United States cotton. The com
mittee add that eminent Bombay mer
chants estimate the crop in India this yeal
ut one-fifth. more than last year.
The committee make the gradual falling
off in influence of the American-growI
cotton the more clear by the following ta'
ble:
coxsrxprIox OF COTTON IN ALL EUROPE, MEA
9 srREp IN POUNDS wEIGHr.
U.S.. Growth. Other Growths
Il s-t.---~sg per cent. per cent.
Average Of twen-
fty-two years,
ending ls60..... S2.2-lo Ts-lo
Average Of two
years, 1850 and
1850. ............ S44-lo o,6-lo
Supposed rate at
present, about 40 oo
These facts, it is very Justly conceded
cannot sustain the opinion entertained by
some that England will pay the tax upon
our cotton consumed there.
The memorial presented by the Chamber
to Congress in May last assumed that Sc
rions failure Of the cotton crop would me-
cessitate repeal of the cotton tax. This
failure has occurred, in addition to the
failure of the corn crop, operating most dis
astrously upon the South. The committee
Justly claim that our soil and climate are
better adapted to cotton than the soil and
climate of any other country, which ac-
counts for the United States furnishing
before the war eighty-four per cent. of the
consumption of all Europe. They see no
obstacle in recovering this position if the
growth of cotton is no more discouraged
than the growing Of wheat in Iowa, and the
pumping of petroleum in Pennsylvania.
But the tax on cotton will discourage its
production and prevent this result.
The revenue from this source, they as
sumo, does not compensate for the injury
it does the nation, while an immense por-
ton of il is consumed in salaries to officials
and in drawbacks to manufacturers. They
see no reason why cotton should be taxed
any more than wheat and petroleum; and
while they do not pretend to express an
opinion on the constitutionality of the tax,
they remark that it is productive of such
evils as the prohibition by the Constitution
of export duties was intended to prevent.
"A short debate occurred, in which the
tax was defended by Mr.. CoNKLIN, and
assailed as unjust and impolitic by Messrs.
NJ. MAURY, GEORGE OPDYKE, and A. A.
Low. Mr.. Low denounced the tax as un-
just because imposed upon q people not
represented, and because it crippled us in
the competition with cotton from otner
parts Of the world.
The report was adopted.
This intelligent view of this odious taA
taken by the merchants of New YORK
ought to make an impression even on Kaai-
Gals. They are smart enough 70 see the
practical injury it inficts, but their o,''er
and unkind sentiments TO the southern
people led them to impose 1t, and 1t may
be feared that the same cause will induce
them to retain 1t.
rcsonv Of Poles-Immipration.