Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-01-06
Finance and Trade.
Foreign Dry Goods Trade.

The statistics of the importation of foreign dry
| goods during the past year; Will surprise those
who have not follower, week by week, the condi-
ton of our foreign trade. The present tariff il
naturally prohibitory in its character. and, under
| ordinary circumstances, would have prevented
extent, outside of some kinds Of hosiery and dress
goods not manufactured in this country; and yet
we find that during the past year there were i'm
e Ns" isVhv e try t N an onS
ton OF the American market at the close of the
war For four years the supply of cotton had
very 5nd IN he north HERR
scarcely family but stood in need of them, and
was deierring purchasing until prices should fall.
In the south, there was an anunaance OF raw cot
and the wardrobes Of the people had been reduc-
ed to a greater extent than at the north. The
close of the war reduced prices to such point
northern families we're ready to buy, and opened
the southern markets. bare of all descriptions Of
goods to the trade of the world. The result was
a demand which home manufacturers could not
supply. and which sustained prices at point
where foreign goods, despite our prohibtory tariff.
could be sold with profit in our markets.
The figures afford some data from which the
people can count the cost of the protective tariff.
The average duty imposed upon this $gl 965, l3S
worth of foreign dry goods was about ~ 2 cent,
yielding a revenue of Sa40, 924sS6. Were this tax
or any part of it. paid by the foreign manufactu-
rer, but few would complain of it; but every part
of Il is paid by the consumer, the importer adding
$40 924 4s6 in gold to the 50, 965, 49, which was
and selling them to the people for Sl32, $50 ,624.
so that the trade tax came out OF the American
people. -,
ground left for complaint, for we should certainly
bear our burdens, and pay our own taxes; and the
high tariff might be sanctioned as an indirect sys-
TEN of taxation. But we cannot stop here. We
have statistics showing the precise value of the
goods consumed during the past year, but we be-
ieve that the foreign imports cannot have consti-
tuted one-fifth. Admitting however, that they
did constitute oneffth, and calling the imports at
other ports besides New DIRK sufficient to swell
the grand total TO $l25 900 in gold, and reduc-
ing this valuation to currency the basis of gold
at 49, which is fair average for the year. and we
have the currency value of imported dry goods as
$lT7, 5000 00, and the total value of domestic dry
total of $ss7, 100000 The SIT 100000 of foreign
dry goods paid an import duty of about 40 per
cent. IN gold. with gold at $50 duty of about
66A per cent. in currency. This duty regulated
the price of domestic goods, as well as foreign !;
and domestic manufacturers sold their goods at
prices 6624 per cent higher than they would have
sold them had there been no tariff. Taking these
figures and his slate and pencil any school boy in
the land will discover that the $685., 700 worth
of dry goods consumed during the past year cost
the people Just 66A per cent. more than they were
worth and that the consumers paid for these goods
81, Al 800, 80. This increased cost Is kind OF
bounty paid for the support and protection OF
of F dry goods alone amounted to $5si 80 dur
ing the past year. This sum would pay the ma
tional debt in less than sixyears. Now we ask, in
all candOr. Whether the nome mdnuiucIuTeS nave
been of sufficient benefit to the country to remu-
nerate the nation for maintaining them at this
enormous expenseE If they have, we hope some
day TO be informed in what form they have given
an equivalent.
The bounty paid TO the home manufacturers of
dry goods amounts each year to more than the
whole revenues of the government, and to more
than one-sixth Of the public debt. This bounty
is the most onerous and oppressive tax imposed
upon the people. Every yard of calico every
of sRen
worsted pound of yarn, or article OF WOOL cotton,
linen or silk in this broad land is taxed 66zs
per cent OF ats value i3r the Denens OF Anerlcan
hibited, and the present tariff on dry goods to re-
MAN, the revenues received by the government
through its custom houses would be so large that
il would be able to discharge all its current ex
penses, and pay the interest and principal OF the
public debt without imposing tax Of one single
cent upon the people.
dundancy of currency, nor speculation; nor the
demand for goods which is maintaining high pri-
ces. 1t is the teriff, and the tariff alone
THE QUESTION OF TAxEs.-A Washington dis
patch of the 17th to the Cincinnati Commercial
says:
The House Ways and Means Committee have
held two or three. meetings, and informally con-
in the taxes. There are some of the members who
have favored it from the first but after a confer
ence with the Secretary of the Treasury, abandon
ed H. II may therefore be regarded as settled that
the Committee will not recommend any reduc-
ton of the taxes. The tax bill will be modified in
many important particulars, making the provis-
ions which are now obscure, and in some instances
unjust, more simple and practicable Mr.. Wells,
Chairman of the Committee who have had the tax
bill under revision for four five months, is here,
and has had several conferences with Secretary
McCulloch on the subject. The Committee will
not have the report ready for some weeks yet;
They have collected vast amount of maternal
relating to the matter. which will be Immediately
impaired TO Congress, in adjusting and simplifying
the present crude BILL