Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-07-11
Co tarIlr to Be added to ths co.t Of their

heavy tariff to be sdded to the cost Of their
railroads
Second. Because, with most railroad enter
prise, the roads have to be CONSTRUCTED by
the people leYying tax subscriptions upon
their property, sufficient to make such
basis for the road as to enable the company
to issue mortgage bonds for the remainder
required to build the road ard every dollar
Of tariff laid upon iron and other materials
required to build railroad is 30 much adj
ditionai tax laid upon the citizens, to be ac-
commodated by the road, over and above
the means they would otherwise have to
raise
Third. Because it is manifestly unjust to
place burdens upon the efforts Of the people
to develop the resources Of the country.
Fourth. Because it places the Government
in the inconsistent position Of amicably
making large appropriations to improve
rivers and harbors, Of donating the public
lands and loaning the public credit to bulid
railroads to accommodate commerce and de
velop the resources of the country whilst
on the other hand ii levies, by tariff, enorm-
Gus burdens on independent railroad COM
panies that ask nothing from the Govern
ment further than that the liberality of her
citizens be not taxed for developing the
resources OF the country.
Fifth Because there is far more capital
invested in railroads, and many more en-
ployes engaged with them than in rolling
mills.
lSixth. Because every dollar of tariff laid
upon iron or other materials required in
building railroads, is to require that, addi-
tional sum from the people, already too
Door to raise the means to build their roads
4. -
whereby often they lose the whole stock in
vested By them.
lSeceRh Because by discouraging the build
ing Of railroads you retard the development
of the country, and to that extent lessen the
ability Of the people to meet the taxes re-
duired for the support of the Government.
Eighth. Because it burdens the agricultu-
raj interests of the country for the benefit of
an interest far less important than the agri-
cultural and railroad interests which are one
and the same
Ninth Because, by increasing the cost Of
railroads, you increase the amount of means
to be raised by stockholders and cost Of
transportation to the farmer for all he has to
sell or buy, and lessen the yearly profits Of
his farm to this extent.
Tenth. Because, if we are correctly in
formed the iron interests of the country at
this time are making enormous dividends,
and could afford to have the tariff reduced,
if they would be content with eight or even
ten per cent. dividends on the capital in
vested, while very large number of rail-
roads are now unable to pay dividends.
Eteueath. Because the cost of iron rails,
the most expensive item in railroad con-
struction and repair is under the present
tariff, so enormous that it may well be ques-
toned whether there are not now existing
railroads Of no small public value, which
must be discontinued for want of sufficient
earnings to purchase rails to replace those
now fast wearing out.
Tiuelfh. Because, in addition to the cost
Of.Ocean transportation, freight, commissions,
&c, we are of the opinion that duty Of
lower rate than the present per ton on iron
rails will afford all the protection that
American rolling mills judiCiously located
and managed can reasonably ask, and yield
the Government a much larger revenue than
existing or proposed rates of duty, and that
such rate once fixed will, by its greater
probabilities Of stability, do more for the
permanent iron interests of the country than
any higher tariff
In conclusion, because the increase of du-
ties proposed in the present Congress upon
railroad iron would be unjust and oppressive
in the extreme to the railroad interests of
the country, and that the interests of the
domestic manufacturer, as well as the indus
trial pursuits of the whole country, will not
be promoted by such increase; that the effect
would be to deter capital from engaging in
the manufacture of iron, in consequence of
the want of stability and the danger of re-
action TO the other extreme occasioned by
an unreasonably high tariff.
Ordered: That the foregoing memorial be
printed, and a copy of it sent to the press of
the United States, and to each member Of
the Senate and House of Representatives.
A resolution accompanied the report, to
the effect that committee be appointed to
visit Washington and use their influence to
secure a reduction of the tariff on railroad
iron and other materials required in build
ing and operating railroads, or that the
committee select proper persons for that
purpose.