The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1866-11-26

Grosa. =; 81 d1eS&. hgaaa
liverpool stock 18th of September
Then known to be ahoat for Liver
pool- ............ $1,000 323, 900
gtock and prospective supply 18th
Liverpool stock on 18th October last sYsSOO
Then Known TO bo afoat for Liver
pool. $4,000 100000
gtock and prospective supply 18th
Liverpool import in the above iivo N'''0' A''0OO
weeks. ..........................3 $4,000 $4,000
Decrease In stock In same weeks. GS,000 77,000
Apparent outGoinSs for consumption,
Correction OF stock on 9th Scptcm. '0OO
tember. $4,000 $4,000
Corrected outgonss tho lvo weeks 121 200 100000
Yet, under these circumstances, and the known
e sa o h gea s so
Sd. per pound or 57I per CO t. in India cotton, and
only Id, or 17S por cent in United States cotton.
Bombay estimate the growth of India this year at
one-fifth moro than last year. Tho comparative
insignitcancc of our cotton in the European mar
kets may seem strange to those whose information
tho last five yoars, but tho following table will e1-
plain the change that has occurred:
CONSUMPTION OF COTTON IN ALL EUROPE, MEASURED IN
POUNDS WEIGHT.
US. OMcr
Grot0th. Growths.
ing is66 ............ .s22-10p.c 17a1op. G.
Average of years, 1859
and 1850; ;s4+1op.c 1860 p. C.
about. ..4opo. COPE.
The opinion, therefore, which has not beon un-
common in this country, that Europe would prac-
tcally pny tho tax on our COTTON consumed there
IN hardly in tho light Of Sacts hero presented,
meet with general acceptance. A reference to
ightened regard for the publ 9 interest would no.
cessarly require total repeal Of the cotton Tux in
the evont of any important failure Of tho crop.
n q Fo hoo
unfavorabe weather from tho timo of planting to
near the close Of September, accompanied by much
destruction i'll the Southwest by the caterpillar or
army worm, and this misfortune is tho more So
we're upon the South because Of tho great de-
fciency in the yield of Indian corn. Our Southern
-nds and climate arc better suited for the culti-
Hhon OF cotton than for any other purpose-much
etter than those Of other countries, as is proved
y the fact that, previous to the war; we were sup
lying eighty-four per cont of the consumption Of
III Europe and, notoriously, with great profit to
Tnrselves. We SEQ no obstacles to recovering our
positon chief cutivators, if the business is no
sore DISCOURAGED than that of growing wheat in
Iowa, or of pumping petroleum in Pennsylvania
TO continue tax upon cotton is only to discourage
its cultivation i'll the best cotton lands of the
world as 9rs nre and to encourage it in tho worst
be ready enough to devote much Of their soil to
othor purposes, as soon VIC begin to throw crops
Of threo or four millions of bales on the markets of
EurODo at the lowered prices which would naturally
ensue.
Your committee are unable to find satisfactory
reason in favor Of this tax. As question of rove
nuo it may !ieid eighteen or twenty millions, with
out compensating for the injury done to national
prosperity. The result Of the operation thon is
TINT Government i; paying high salaries to null
pay 1t away again in drawbacks upon cotton fabrics
exported w:lca it would have been better for all
concerned II !hcrc had been no tax ct all. Jusico
anc Inc lupc welfare arc supposed to be the great
aims OF legislation. And it il impossible to provo
she justice of this tax when there is mono upon
wheat and whilo tobacco and petroleum arc allow |
in and L. ~ct
tax. While refranins from any opinions on con-
stltutonal points, Your committee must say that il
1s very certain this tax is productive of such OWLS
as the ,prohb tion Of export duties must bo sup
posed to have been intended to prevent
Your committee must not BIO understood as con- |
demninS The tx which was lowed upon cotton left
srary perhaps That tax might, without impl opriety
havo boon twice thrice as largo as it was; bo- |
cause tho United States, by achieving peace at m
npon such cotton as had previously been Compare
lively worthless, and therefore might be hold to !
nave some rights as salvors Of property which was
prior to 1866, it is still very questionable whether
the subsequent growth ought to have been charg-
ca with higher tax or any ut oil. The real intor
thing could be done to discourage cultivation at |
home O. to encourage it abroad. In conclusion |
your committee find tho present tax to be ndefen-
country. North, South, East and West, and must |
believe that it is nexpedient unjust, oppressive
and practically unconstitutional, and that the |
longer it is kept in foroo the more injurious it will
DO found to national prosperity.
We therefore recommend an early memorial to |
Congress praying that the ta1 may be abolished |
Immediately.
New York, November II.
NJ. MAURY. Chairman,
JOHN s. WILLIAMS
STEWART BROWN, |
A. A. Low,
PAUL SPOFFORD.
hr. Maury strongly advocated the adoption Of
tho report hoping, by thorenoval Of tho fa1 that
the United States would ultimately export as much
cotton to Europe as was done before the war. Du-
ring the past four five years great skill had
peen acquired in the mandatory of cotton goods;
they can now make goods out Of India cotto: |
which wae formerly thought impossible. There
lore, In order that we may compete with India the
lax on American cotton must bo reduced
MR. Conklin was opposed to tho repeal Of the tax.