New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-23

United States will speedily regain control Of the cotton
market and again supply by far the larger portion OF the
total demand OF Europe for consumption In this opinion
moreover he finds himself sustained by what may be
garded the best authorities cotton IN this country
and particularly by the late Commissioner of the United
states 10 the Paris Exposition the Hon T. X Nudge OF
Massachusetts, TO whom as chairman OF committee the
subject OF the future supply Of cotton especially
ferred for investigation by his colleagues on the Commits
slOh The conclusion OF the report OF TINS COMMITTEE not
heretofore made public, Is as follows;
Having carefully observed what has been done and is
DONG by other nations, the Committee present the loo"
ing conclusions:
FIRST That cottongrowing the Southern states il un
taxed can be conducted proftaby ana successfully as
against all competition elsewhere. ost.. -. ,.,
Second That II burdened by tax sufficient to be worth
to the Treasury the cost OF its c0iecO II cannot al
present, II ever be successfully prosecuted.
THIRD That already familiar 10 our people IN an lts
details IL is the only industry immediately available and
practicable 10 the great body of the aDorng population
Of the South for the profitable employment OF surplus
labor that is beyond the necessities OF crops for subss-
ence i'm the production of something saable and eX-
changeable, whereby wealth can be regained; and,
Fourth That 1.-THE importance OF large production OF
cotton as the chief export OF the country in adjusting
balances Of trade and oNcnhcs anu ehpcClaAy III lts
LARGELY held and To e held abroad cannot well be over
stated, and far transcehds e value OF tne eSeht
tax that TO preserve tine atcr AT the cost OF losing th
former would be a "hapenny Orh of wisdom 70 pound
Tie whole amount OF Internal Revenue derived from
the tax ON IA cotton for the fiscal year ending June 3d.
1867 was 9G9Os and although this sum comprises
nearly all the revenue derived from the southern seG0
of the country and constitutes an amount that can III be
spared from the Treasury, yet, under an the clrcun
stances, the Commissioner has no HESITATION IN recon-
mcndng the immediate passage by Congress OF an act
rcpeg ling the entire tax upon raw COttOh ana Ihe cotlc
snoudnC existing duty imported cotton the same 10
take effect on its passage
As vet but a small quantity OF the new crop OF cot
ton has been marketed but if the repeating act be de-
laycd to later period it will evidently WORK injustice 10
those producers who may be forced 10 send their crop
forward Immediately, unless the removal OF the TAX
should he deferred take effect at the close OF the pres
ent cotton year Sept. l, 1868
If a repeal OF the take effect immediately should
be enacted by Congress- IL Is important That one cO-
gency should De efcctualy provided against Contracts
Ii understood proposed and possibly already made
for purchase cotton unpaid to be held III store
until the repeating legislation Of Congress has taken eli
feot-thus nsurng the pcculaOr or exporting buyer
gain equivalent 20 the amount Of the tax IL seems dc
srable therefore, that the Of repeal should be so
wOrded as relieve from the payment Of the tax only
so much cotton as the date named IN the act remained
unsod by the producer all cotton having passed out o
the hands of the producer 10 the tax II IL mas MOI
already done Only III this can the rcef go where
il is intended, wiz to the Impoverished culuYatOr ,
IL may be interesting in this connection TO mention thal
the Committee Of the Commissioners OF the Paris ENpOs
ton assisted by H. NOurse, esq of Boston, have cor
lected and caused 10 be suitably arranged series Oh
samples of from nearly all the cottongTowlng d
trcts of the world, which collection they proer to me
Government, with the suggestion that 1t be placed lu
preservation and reference in Of the public Offices al
Washington. in witch suggestion the Special Commits
sioner cordially am, Sir your, most respect
fully DAVID \. WELLS,
Special Commissioner OF che Revenue.