The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-05-14
The Tax on Cotton.

We are pleased to see that so respccta-
BILE a body as the New York Chamber OF
Commerce has determined to memoraliHe
Congress not to put a tax of five cents per
pound upon cotton. If Il regard for the
teachings Of political economy rather than
for the wishes OF fanaticai leaders shall
govern Congress in its action npon this
subject, the tax will not be laid. The view
we have taken of the question is exactly
the one taken in New York, and, indeed,
10y every one not prejudiced against the
cotton growers themselves. The World
says:
alt is ADM tied by every one convcrSant
"with the facts that a tax of five cents
"would be ruinonS 10 cotton culture in
"this country, and if persisted in, would
"lose us the monopoly Of the markets of
"the world. II would be killing the goose
"that is ready to keep laying golden eggs
"for Ms for all time to come. 1t is as false
"economv to tax cotton as to tax wheat,
"corn, or potatoes
In the meeting of the Chamber of Com
mcrcc held on Thursday last, Mr.. MArRl
presented a report, which is said to be very
elaborate, and which contends that the tax
should not be imposed. "The taS," il ar
CUES, " would tend in few years 10 lessen
"thc revenue of the government from cot
"ton sources, and have the effect Of in
"ducing other countries to outbid Us III
"the traffic and culture of the staple"
"Judgc Marvin doubted whether the
cotton could bear the tax without SO lessen
ing the production of the article as to do ma
terial damage to the country. A gentle
man from England in the first year Of the
war told him he wished the war would last
five years, and said that il ii did, England,
being deprived of cotton from the United
States, would grow il in India and else
where. If this tax was put on, England
would overcompetc with us. Encourage
the production OF cotton in the Southern
States. Ii might bear two or three cents
a pound tax, but he thought live cents IA
little too much.
"Mr. Opdyke said he agreed with every
thing spoken of inrthe report. In the first
,f,6e, 1t was unwiso on the part OF our
of anynent To discourage the production
questionable in the country. The Con
VAS an act to,psition of five cents pound
staple. II was Sce the production Of the
cotton could be grS.::azss tested whether
labor than slave labor. Dfhsyer by free
hon,it would be dearer under the transit
tenn oi things, hut that would soon s,ys-
away Inc cotton manufacturers No.,
wanted TO tax thc growers Ave noi'
pound, and the result would'be - o,; n's
, 10 smother, and destroy one az A., a'ippi'
i profitable interests of the country - me- ~
/ tax was imposed because the Soutl, La
rebelled, 1t was very bad policy. The r.
u bellion had been put down, and he wa
xwiiling for the two sections to come {,
kether again In union and harmony. II
8 had convefsed with the chairman of IN
i committee who had proposed the tax. ii
! sAid the;tax was to be enforced bnt Tor on
y year. This tax would despoil the souther
8&t1D es oe hundred million of dollars fo
sfhe mere sake Of few thousands of reve
3ue.
ilSsH Ms. A. A. Low said, as it had beei
\ Rgested to send the report TO Congress
Vgnight be put in the shape of a me
1his motion prevailed, and the report
Ann, unanimously adopted.
- Cyrus w. Field said that cotton
~ N6in India and Egypt was much cheaper
@WA " United States, and hs hoped