The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1866-05-14
Report OF the New York Chamber OF Conn
merce on the Cotton Tnx.

merce on the Cotton TnX.
A special meeting of the New York Chamber Of
Commerce was held at their Rooms, on the 10th
inst, to hear and take action upon the report Of
Committee appointed at a previous meeting to
consider the subject Of the proposition now before
Congress to impose tax Of five cents per pound
on oil cotton hereafter produced in this country.
The report of the committee was read by Mr..
MAuRY, the Chairman, as follows:
.s.a REPORT OF THE COMMITTEE.
The Committee appointed by the Chamber Of
Commerce to consider ''the effect Of the proposed
tax by Congress of five cents per pound upon cot
ton" beg to report:
They feel that the subject is one of vast interest
to that section OF the country in which cotton is
grown, Of great national concern, and especially
worthy OF consideration in view Of the political
state of the South. ''2. j.
OF merchants the Importance of dealing justly with
the South at the present juncture will be deeply
felt; and adopt, as the sentiment ef this com
national legislation it shall not be on the side of
severity. II II 1s necessary to exclude representa-
ves OF the Southern States from the halls Of Con-
gress, because o. disabilities growing out Of the
recent war, and measures are, to be adopted,
affecting the industries Of large section and Of
numerous people, these measures shonld be
charaeterized by spirit Of generosity which win
without representation is tyrannical."
It should appear in after years, when prosperity
IN the South takes the place OF present sdvere1Sy,
and fraternal relations again restored in and
out OF Congress- that in the days Of her weakness,
the North and WeBt did not take undue advantage
of the South, discriminating against her industry,
| and imposing burdenH too heavy to be borne; but,
on the contrary, that spirit Of magnanimity rul-
| ed In the councils Of the nation, disposing our
Legislators to deal generously with the people OF
the South, thus to aid In restoring them from q
| state OF weakness to condition Of strength.
| These are the views that animal your Commit
| tee, and they are such as In their opinion the
| Chamber should urge upon Congress, as OF the
/ most Importance in considering the amount OF In.
| ternal Revenue tax to be levied upon raw cotton
| They are deeply impressed with the feeling, as
they suppose allright-minded men are, that the
cultivation Of cotton should be encouraged by al
proper means, and should not be discouraged BY
Onerous taxation. a! lr ~
And your Committee beg TO present some Of the
reasons, which, In their Judgment, are conclusive
against q duty Of cents per pound on the grea
Southern staple:
First-That the cotton interest in India, Brazi
| and Egypt have accumulated large capitals from
1 the high prices Of the Last three years, while on
| planters, as a rule, have lost all theirs.
| iSecond-That nothing has yet occurred to ar
| rest the extension OF cotton production In thos
countries; and nothing will arrost IL short OF ma
| teriai and permanent decline In prices hereafter
/ Ihird-That in the Last Ave years railroad
have been opening the traffic 10 India, and othe
means OF transportation have been Improved; an
as the Indian Government guarantees an annua
divident OF not less than iye per cent. to raiwe
| stockholders, we must suppose branch railroad
will be made wherever they are likely TO pay.
Fourth-That during the four yesrs' famine Z
1 United States cotton In Europe, great improve