New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-05-31

8. That the expenses in the United States Of
Transporting and selling at the ports,
exclusive oftaE, must be estimated t1ls year at
not less THANH 3 H.. in case Of yield Off 900
bales and about &C. more if the yield is less II is
sometimes said, but very inconslderately, that the
cultivation Of cotton in India and Egypt has been
a failure. Let US examine this up to the present
time, to give the latest possible light upon the
The average import into Liverpool, from the LIST
of January to the 10th Of April, has been as fol.
lows;
India Egypt Brazil
For ysars s53 to sS 5sS dd5 5Sg S5
For years 1865 to 1865 2g3gO) l400O l5QO0
Quantity known (on the 10th of April, at Liver
pooh to be at sea for England, from India, lin
bales)
On April 20, 1865, 545 900; on April 20, 1865,
3O5 600; on April 20, 1864, 248, 900; on April 20,
1863, 5000; on April 20, 1862, $4,000.
~ stock of all kinds of cotton in Liverpool April
20, 1866, $40 900; April 20, 1865, SO O0O April
20, 1864, Az 600; April 20, 1863, 1900 April
20, 1862, 422 900.
Average import of u months into Great Britain.
in 10 years, from
1913 to 1862, inclusive . 2i4Oi0 1000 10000
The like dur ng 1865 12576O0 $4,000 10000
The above tables show that the production of
cotton has been an eminent success in India,
Egypt and Brazil in quantity; and, whatever may
be said to the contrary, the quality seen Of India
/
| growth, as happened in Liverpool last month, to
the extent eff Cd. sterling per pound equal to 15C
or lGc' in our money, in less than six weeks.
The committee further say that the natural
course seems now to be for cotton to decline, per
haps very slowly, and by fits and starts until il
reaches half its present value, if the growths OF
1866 and 1867 are prolific; and it is equally natural
| to suppose our planters must make two successive
crops each Of O00,0 900 or 600 900 bales, and sell
them at very low prices before the cultivation il
the Bombay district will be materially curtailed
The prospective difficulties of the American plant
Ell even without any tax on cotton, are great
probably greater than he supposes, as both in the
North and South there are still lurking ideas tina
" Amer can cotton is king"
For if he secures a large CROP he is sure to NEE
low price, while, if his crop is short, and hi
earnings therefore, small, the cultivation in othe
countries will continue to increase. Yet, at th
very time, when he is struggling for existence,
tax Of five cents per pound is proposed, which
beng practically an export duty, Is equivalent Il
charging him with that amount for the purpose 0
paying it over to the cultivation of Egvpt, [ndi
and Brazil And still it is expected he Is TO con
pete successfully with these growers.
Our knowledge of the proposition is mainly dc
rived from the sketch Of bill for amending tn
: internal revenue act, published some days ago
our papers. We deem it reasonable TO suppos
n that it was first suggested when cotton was wort
: 80 cents, ard expected by some persons to be {
9 or 10 cents y Ii. this sumner, while the preseI
; average value at the ports of the United States
be from speculation for resale chiefly to our spil
ners, and because of the Anticipated failure of Il
/ growth Of this year.
f The bill is based upon the assumption TIL
/ thrty-four millions of the revenue will be derive
, from this tax, and connects with the recommend
r ton other proposed changes in the law, which a.
D as favorable to the Weather portions of Of
country as the tax referred to is oppressive to Il
A South viz
l. The reduction of taxes on incomes.
@ A drawback on cotton goods when nSnOTtt
Of five cents per pound, thus increasing the boun
on their production from two to five cents p
t pound.
i 8. The abolition of the tax of 81 per barrel
A crude and one-ffth of that on refined petroleum
There is in these and other notifications suggest
s in the existing law want of impartialty which,
e the judgment Of your committee, is calculated
A provoke hostility in the South and to excite
II honest minds at the North the hope that such
people of the South were prepared to enter il
,s competition with the manufactures Of the No
a for the benefit to be conferred through the pt
e ment of the proposed bounty on cotton goods
j. ported.
Il They are not, and cannot be, for years to CON
" and the imposition of discriminating tax, VIII
at tends to make the rich ofthe North richer and
poor of the North poorer, operates as a disco
n agement to those who, with heavy hearts,
d honest endeavors, strive to regain their lost
in tunes. The committee feel that it would be "
and better to lift up those who are now cast do'
H. by just and generous legislation to inspire
I'd Southern people with hope of better days, rat
than, by an opposite course prolong the era
ts political aud commercial distrust.
n. If it is true that when zone member suffers,
ie the members suffer with it, your committee wo
e urge more moderate tax than that now prOpos
ks not in the interest of the South alone, but for
% common good Of all the States of the Uuion.
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