The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-12-04

carrying trade which entered United states ports
Tons.
IN 1850 6n.'.,'. 50ll,2 ,2S5
In isSG .-'''''''. Ss,5'Sse 1SSss
The tonnage fsuc6 vessels which wore cleared ron
the uuited States was
In ls65,..."..... 3O25lH
lbe tonnage Of ioTesn vessels which entered l' our
ports was
N ,-.~..-,..-.. 5s,ssl. tS'
The tonnage Of foreign vessels which we're Cleared
was
IN ,soo 2Ssss gSss
IN iseo'' ''''''''-. s9Sg5sS
It Is true that large proportion OF this dimin1tion
ofshpplng ana shipbuiidng the effect The war
cruisers not only Induced sales to ne1irSis, but dis
seSIcy Of OA1 ar ~ n s1e
and, but for redundant currency and high taxes,
rapid increase Of tonnage but this has not been the
case mhe prices and materials are SO nfh tha.
S6aes and many o. our ship ysrds are being practi-
after on secunt of tber superiositY and ebeepness
other states on foreign account or sold TO foreigners
was being TepdIy incressed Now many of our ship
yards are Abandoned and IN others very little activity
prevails II is true there has recently been some in
ere se 10 our foreign tonnage but good part OF this
rule OF adm easurenent IL is an Important truth that
vessels can be built very much cheaper in the British
can be taken from Virginia to the provinces and from
which ca he sold AT nroft while The same Kind ~
vessels ca only be built in New Eugland a loss by
ev does stop here il the only loss was that which
building. there would be less cause OF Complaint Il
is weestabshed ge neral fact that the people who
to build ships, ceases, Of consequecce to be
commercial aud maritime nation Unless therefore, ,
United states shall cease the foreign carrying trade.
nations. TO this humiliation and loss the people Of
the United states ought not 70 be IL oinec @
be profitable and manufactures are TO be extended the
rRs Gnea viii not Be
dustrai interests continue long to prosper as they
ought her commerce shall be permitted TO langpish
faxes that prevent shp-buldng tend to prevent the
high are prices Of every description men hesitate
to build dwellings as fast as they are required and
essees and the healthy growth Of towns and cities is
which were built before the war be run proatabIy.
but so expensive are labor and materials that new
any prospect of fair returns upon the investment.
@ upon the m thae axes nsv w remain n a.
vanced. The same causes are inlurously affecting
sary TO partioularize II every where observed that
existing sgh & prices are n not r only 0ppTessag the
The the development, growth ana prosperity Of
which the country has sust aimed of able-bodied
men by the war is one cause Of existing high prices
but mainly they are the result OF redundant cur
rency and high taxes.
by systems OF internal and external duties which,
working in harmony shall neither repress industry
10 make taxation bear most heavily upon those who
renders taxation necessary requires great practical
knowledge and wise statesmanshp. rms subject,
always an interesting one to the heavily indebted
% @ of ssS has % S e ed6e Ss o bs
United States. The secrelaIy does not, as before
stated intend to discuss IT, but ne ventures TO suggest
have been acted upon by Congress, and the correct
tOuS. adopted
ton that is now reguired:-
lst That the fewest number Of articles, consistent
with The amount Of revenue to be raised. should be
subject 70 Internal axesn order thss ne sysem may
ant Dying as possible 10 the tax payers: -
should correspond and harm onize with upon
he me and that these duties should not be
so high as to be prohibtory, nor 70 build up nome
monopolies, nor to prevent that free exchange or
the other hand should they be so low to seriously
impair the reyenues nor to subject the nome manu-,
competition with cheaper labor and larger capital
3D. That the raw materials used in building and
manufacturing, and which areto be largely enhanced
them, shsuld De exempted from taxation Or that ths
bs sPSh p1on ober arces his Is e policy Of
other enlightened nations and i Is believed that the
adopted by the United states would Ps more than
give TO labor and by he increase Of productions and
OF exports which would be sure 20 result from u lt
raw materials directly Increase the cost Of
np az envs eT To- forean marfets "
attn That the burdens of taxes should a ohiehyupon
those whose interests are protected by taxation and
upon those TO whom 1.-THE public debt is & source Of
wealth and profit, and lightly upon the iaborlne
classes. to whom taxation and the debt are without
many compensatory advantages,
Tie next OF the series t0f proposed remedies is AN
issue bonds, bearing interest at the rate OF not
amount sufficient to absorb the six per cent bonds In
foreign hands. and supply The European demand for
No one Tssres more Than the Secretary the fact 6at
SO rs @ our % SSpds oSp Is ReG bat sorS S o. s
has been benefited by the expor securities
Is onnd upon the supposition that we have received
real capital In exchange for them. rms suppoSiti0n
Is 10 large extent, unfounded Our bonds have gone
abroad To- pay for goods which, without them might
The surplus products -four mines and our teds with
small amount ofOur manufacturers put large amount
ofsecures also 70 pay lot the aruqes % Wncn we nave
have been stimulated and Increased Dy the facility OF
paying for them ia bonds, can hardly be doubted Our
be Sno19t OF tRs bonds which have been ex ported
Not one dollar in five OF the amount the nVetwen-
been returned to United states in form Of
capital, II this were not true statement OF the
some three hundred and hfty millions ofGoverqnenI
bonds-nOt 10 mention state ana railroad bonds anq
other 40 tne HANGS OF tRe cllzens o.
for sale In the United states, and which being SO
held may seriously embarrass our etofts 70 reiufp 10
fnl consideration. the Secretary has concluded
that III Is advisable that be should be authorized
W Years sSHs e rTS ana bearing Tow rate Interest pay
able in England or Germany 70 pc USED n aklnE
npeetine sny ioreien demand for investnent that
may exist The question now 20 be considered Is not
how shall our bonds be prevented from going abroad,
otw ns as our credit Is good aud we continue 10
buy more than we can pay for IN any other way, brt
ne bone fae9ke To thvart DOR eifori IN lestorir9
the specie standard. The Secretary sees no praoceo