Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1867-02-27

doubtedly enhanced in price by reason of the
tax, but exactly to what extent must at pres
cnt remain undetermined. Should the tax
ever be found oppressive to loyal mem it will |
be repealed. The cotton mills of the South
were seldom buster or more proftably en-
ployed, and new mills are constantly spring |
ing up. Only last week | a notice of
twelve mills in operation in South Carolina
The time when the South, with the provi |
sion in relation to the drawbacks on manu-
factured goods in force, will be likely to in |
sist upon the perpetuation of all our laws
intact this subject may be assumed to be
not more distant than the time of repeal. |
Other countries have been stimulated by ex
traordinary prices to increase their produc-
ton, and with some success, but not much
more than equal to the increase of the world
consumption, which appears to be growing
with marvellous rapidity. The price also re-
mains dear.
The disposition to understate the crop of
cotton is chronic and universal. Last year
the amount in the country was SO adroltly
concealed that the experts were all deceived,
and 50 greatly exceeded expectations that all
who laid in stocks for a rise came to gret.
The Secretary of the Treasury, Mr. McCul-
loch, estimated the cotton remaining III the
country and the new crop of 1863 at one
million three hundred thousand bales, but
it proved to be about twice as much, or two
million five hundred thousand bales. The Llv-
erpool cotton-brokers estimated the amount
which they might receive from America at
but little than half the amount they
got An accurate inventory even OF the
stock on hand in Liverpool is a pursuit OF
knowledge under difficulties. When the
price falls the stock is hidden, and only comes
out when it is safe to uncover the actual
facts The India crop was similarly under
estimated, being misled, too, by the indian
! government The amount already brought
| to the sea- board and the amount of the week
| ly shipments show that the crop of last
/ wear has vet by no means been brought to
market. and the expectations OF two mill
ion bales is likely to be fulfilled. The crop
cannot be hidden forever, although both the
planters and spectators conspire to mislead.
The price is too tempting to allow cotton
hands to remain idle. Next year, if the
season should be unpropitious, we may an
ticipate a handsome increase over the pres
ent. The crop of the past year, after pay
ing the three cents per pound tax. Will have
been sold for three-fourths much in golo
as that of the largest crop (lS59) ever pro
duced in the United States.
Liverpool is the great cotton market, and
although the stock on hand is larger thar
for FIVE years, yet the price is higher nov
, and growing firmer than it was last May
, selling for middling uplands at about twenty
nine cents per pound in gold, and tending
: upwards, and it is selling in New York a
thirty-four cents per pound. currency.
, The promises for cotton from most Other
. countries for 1867 is not improving. EgyP
= and Brazil will not increase their crops, not
e withstanding the temptation of high prices
: and India will, it is estimated. fall short o
: the crop of the present year by four hun
: dred thousand bales. There is no discour
agement in the way of the production c
, cotton in the United States, and the ia
, should no sooner he removed from it tha
4 that on petroleum.
: The manufacture of leather is hardly les
. extensive than its Nearly every Stat
/ and Territory has more or less capital EN-
r. 'arked in its production The outlay r.
y boots and shoes in the log-cabin Is not III
n frequently greater than in the tour-stor
il brown-stonc mansion. The harness. TRUNK
: and carriage maker also use it a raw ms
e terial. which if taxed duplicates their bun
- dcns Before he was compelled To lev
/ internal taxes we had Il prosperous an
Il rowing export trade of several millions
r boots and shoes. which of course. must
Is nearly or quite annihilatcd by the tax {
/ leather. no part of which could he returnt
n hv virtue of a drawback but with leath
l. free this trade NAV again have a better chan
To of being recovered.
II Tinware. hollowware. stone and crocker
n ware employing large numbers of workmel
l.. i, used 10y all classes of people for all d
2. mestic purposes. and by those in modera
= circumstances perhaps beyond the fair pr
+ portion If excmpting tin pals and tin pa
: Shall tend 10 diminish the cost of good bu
l. ter. who would be likely to complain?
,e Last wear we exempted all dry casks al
al barrels but why should not pork or be
is or oil or fish barrel be free well flo
7 1. = IL ri
+ ton bv making all the work of the merit
= riou- class of coopcrs free
n | have before had occasion 10 say that
X. tax in the nature of an excise tax on man
he factures could have been resorted TO OF
he from the imperative necessity of at or
if placing III the hands of the Government
he unusual and large amount of revenue ii
= resort has been successful. Last wear it p
duced Sis 356. .66l 81 But the exigeI
To has passed. and measures desi gned t. be |
10 temporary must he replaced hv Others o
is more satisfactory character in the speedi
+ time possible. do not doubt that we sh
yn at very early dav he able to relieve ir'
ii cotton wooden. and all other general MAJ
he tactures from any internal tax. 1t is "
br this prominent idea that the committee h;
le. diligently labored in framing the present b
IN \ reduction of expenditures and a more
he fectual collection of taxes on the few artlcl
pc which the Judgment of the world consigns
such burdens will hasten the day when th
Is will be full relief to the industry of
The country from all such taxes Meantime.
zen addition 10 concessions in various other dir
tions 1T is proposed to reduce the tax on WOO
me manufactures from five per cent. To two an
ate half per cent. Some may think that bari
he should have been liberated instead of W,
IN ems, but the tax on bar-iron has been in
put form of specific, and is not now and ne
hat has been equal to the ad rOior'em tax of
inc per cent. The trade in each branch of bu
de ness is equally depressed, and the act
of now proposed will make the distribution
ars favors not unequal But higher mott
mt perhaps moved the committee. and that
MS to place WOODEN manufactures in the ha
do of the consumer at reduced cost. BY REQ
ma ing the tax on home manufactures of WOO
TIL two and u half per cent. reduction of
ere ratet otherwise asked for bv manufactu
wn can bc made i'll the duties on imported "
pie ems of five per cent. as an equivalent.
han will tend in some degree TO satisfy the
hoy clames Of consumers. The amount of in
and nal revenue from woolens last wear at
.ent per cent. was IS, ,SI4 .l0l .03 but in
re- act of July last it was, with all other ma
less facturies. reduced TO five per cent. The
sell to the revenue this year by the proposed
The duction To two and half per cent. if
lglv production remained the same. it is
,bie likely To remain, would be S3. l72.542 Ia
,een The revision of the income tax,
ars. VIII he seen. presents the SUBJECT III
late mann az 1t was presented last year. or,
mt diherentlai rate excepted as IL passed
,uld House, though not then accepted by
X of Senate That every person should contri
,ent to the support of the Government in the
act ratio of the interests protected by
tax Government, is principal that will be
der versally admitted. An income tax Is D