The national Republican., 1866-12-04

the Acting Comptroller cf the Currency, in his rs.
port In regard to the Importance Of furnishing the
people Of the South with tho bsnk-note ciroulston
which their business may require, and agrees with
him in the opinion which be expresses Of the bono
hoisl results political, financial and social to be
effected By the organization Of National Banks in
the Southern States. but bs cannot recommend an
increase Of the bank circulation Of the country
beyond $500, ,00o 900. and hopes that the neosssi-
ties Of those States may bs supplied rather BY
| reduction OF the amount awarded TO other States,
than BY an increase Of the volume Of currency.
The third remedy suggested Is revision Of the
tariff for the purpose Of harmoniring 10 with in
tsrn.l taxes, reduction Of taxes upon raw ma.
| terial, Ac., DC.
The seth section Of tho act entitled can act To
reduce internal taxation, 30, approved July Is,
1866 provides: THAT the Secretary ofths Treasury
10 hereby authorised to appoint an officer In his
Department, who shall be styled Special cOmmis.
:loner Of the Revenue. Whose once shall terminate
shall be- the duty Of the Special Commi,sionsr Of
the Revenue to enquire into all the sources Of ma
tional revenue. and the best method Of collecting
che revenue the relation Of foreign trade TO domestic
taxation By customs and excise, with the view Of
snsuring the requisite revenue with the least dis.
turbance or inconveniencs to the progress Of In.
dustry and the development Of the resources Of the
country; and to inquire, from time TO time, under
the direction Of tho Secretary Of the Treasury into
the manner In which officers charged with the sd-
mnistrstion and collection Of the revenues perform
their duties. And the said Special Commissioner Of
the Revenue shall from tme to time report through
the Secretary Of the Treasury to Congress- eithern
the form Of bill or otherwise, such notifications
Of the rates Of taxation, or Of tho methods Of col
lectng the revenues, and such other facts pertain.
ing to the trade, industry commerce. or taxation Of
the country a. he may find, BY actual observation
Of the operation Of the law, to be conducive to the
public interest" ...
On the 10th Of July last Mr.. David A. Wells was
appointed Special Commissioner Of the Revenue
under the authority above rected, and he was in
sructed to proceed at onoe to perform the contem.
plated work, giving his chief attention to the tariff
with the view Of ascertaining what modincati
are required to adjust II to the system of internal
productive.
Tho ability displayed by Mr. Wells in tho per.
iormance Of his duties as one Of the commissioners
for the revision Of the internal revenue laws and
the heartinsss with which he Is prosecuting his In
vsstigations, give the best assurance that he will
perform the work In manner creditable to himself
and satisfao!ory to Copgro. and tho people. Tho
Secretary addressed to him on the 14th day Of Sep
tember 1865, letter, from which the following 10
extracted
ain view ofths fact that the revision Of the tariff s
certain to engage the aention Of Congress at its next
session consider Il especially desirable that the
much information pertinent to the subject be OBJ.
ained and collected within the limited time available
hereby requested give the subject Of the revision of
the tariff especial attention, and TO report bill which,
acts Imposing customs duties aud which will render
the ADMINISTRATION Of this branch Of the system
ain The discharge Of this duty, You will consider the
necessity Of providing for large certain and perma
proved most ssHs in I'll. :n sseoa aS 9os
viii therefore, endeavor, rst, to secure for the Gov
ernment revenue eommensurate with its necessities
and secondly, to propose such notifications Of the
arf law. in force viii better adjust and equal.
ne the duties upon foreign imports with the internal
decreasing the cost Of production and Increasing the
NJ ,s S" IoTsr o. wages greatly promote the inter
There 10 no subject which has In times past pro.
voksd SO much discussion, and In regard to which
opinions have differed so widely, as the tariff It
has been standing matter Of sectional and polit.
cal strife for nearly half century and tho senti
ment Of the people In regard to 1t Is still quite
much divided as when the discussion of II COM
mencsd. Always o complex and difficult question,
1t Is particularly so at the present time. Prior
taxes, for this form Of Federal taxation was then
unknown to our people. It had little connection
with tho currency, for, until the year 1862, al.
though tho banks had repeatedly suspended specie
payments, specie was tho only legally recognized
question Of the tariff is to be considered in connec
ton with permanent system Of internal taxes and
deprecated. but it is hoped q temporary lega
tender currency. IT Is obvious that scale Of du
tics upon imports which might have been sufficient
i judicious and beneficial when there were no in.
ternsl federal taxes and business was conducted
upon q specie basis, may bo insufficient,
injudcious and injurious now A largo rev.
enue Is at present indispensable for the payment
Of the ordinary expenses Of the Government the in
forest upon the public debt, and for q gradual and
regular reduction Of the principal Free trade al.
though In accord with the principles Of the Gov
ernment and the instincts Of the people, cannot be
adopted as policy a. long as the public debt sI-
lists In anything like its present magnitude. The
long period when there shall be no legal OBJ
structions to q free exchange Of commodities be-
tween the United States and other countries Is still
far in the future. Duties upon imports are not
only necessary for revenue but also for the protec
tion Of those home interests upon which heavy in.
tsrnsl taxes arc to be assessed Tho question now
before the country Is therefore Of adaptation,
rather than principle. How shall the necessary
revenue be raised under system Of internal and
external taxes without sustaining monopolies, with
out repressing industry, without discouraging on.
terprise without expressing labor In other words
how shall the revenue be raised in o manner the
least oppressive to the people, without checking
the prosperity and growth of the country The
Secretary 10 not disposed to discuss the question In
this report. This will, It Is expected, be done
elsborately and thoroughly in the report Of the
Commissioner. He desires, however, to call atten.
tion to . few important facts In regard to some
branches Of business In the United States the con-
sideration Of which may tend to give a proper d.
rection to the public mind upon question so alb.
sorbing and important.
No single interest In the United States, fostered
although It may be by legislation, long prosper
at the expense Of other great interests. Nor can
any important interests be crushed by unwise or
unequal laws, without other interests being thereby
prejudiced. For illustration: tho people Of the
United States are naturally commercial and mari.
time people-fond Of adventure, bold, enterprising,
persistent. Now the disagreeable fact must be nd.
mitted, that, with unequaed facilities for obtain.
ing the materials and with acknowledged skill In
shipbuilding-wtht thousands Of miles Of sea-coast,
indonted with the finest harbors in the worli-with
surplus products that require in their expectation
q large end increasing tonnage-we can neither
proftably baid ships successfully compete with
English thps in the transportation Of our own pro.
ductons. Twenty years ago It was anticipated that
ere this the United States would be tho first mari.
time power in the world. Contrary to our antici.
pations, our foreign commerce has declined nearly
fifty per cent within tho last six years. The ton.
mage Of American vessels engaged In the foreign
carrying trade which entered United States ports
was: In 1860, 5,92l,2s5 TONS in 1865, 2,943, ,66l
tons; In 1885, 1872, 900 tons
The tonnage Of such vessels which were cleared
| from thu tad States WI Tn 1SR0