New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-03-02
THE COTTON TAX.

THE COTION TIA
The Senate Yesterday voted to reduce the
Cotton tax one cent pound. This Is al IN
comprehensible movement. Because when you
drop the imaginary principle which requires
YOU not TO tax the article at all, and make 1t
n question of simply how much tax the article
will bear there would seem to be no reason
whatever for diminishing the existing tax. We
can understand why, in this view, it should he
raised, but know no reason at all why it should
be reduced 1t needs no elaborate exposition
to show that of all our products nothing can
more easily bear tax than cotton. 1t IL easy
to raise, and the profits of raising, at pres
cnt prices, are enormous. Under peace ana
specie payments there was no agricultural oc-
cupation so profitable as raising the ordinary
grade of cotton ut ten cents a pound. we
suppose no competent authority will deny this.
1t was a price perfectly satisfactory to the
planter With gold at 80 per cent. premium
which is more than its average for the last
year or two, - cents is thus ample rcmunera-
ton now TO the cettOn-grower. Now what
does ne getl What has he been getting
The price of average cotton now Is ~ to "a
cents. Six months ago it was about the same
year ago il was AZ to 80. Is there not III any
of these figures ample margin for a taxi TAX
ing them as a basis, what more profitable en-
ployment can there be than raising cotton and
paying the existing tax of cents per pound
on it, Hundreds and thousands of enter
prising people from the North embarked with
alacrity in the business of raising it last
season. The season was bad, and the crops poor
in many districts, and in such instances disap-
pointment and sometimes loss was the result.
But with all these drawbacks the cOttOn-raisers,
take them in a body, realized an immense
success; the value of the 100000 bales made
in 1866 bringing as many, or nearly as many,
hard dollars as a crop of 100000 bales did
before the war.
We say, then, that the inducements to en-
bark in cotton-raising for the present and fu-
ture years have not slackened under expert
cnce. There is nothing in the tax to hinder
the most vivaci0us efforts to engage i'll Its cul-
ture The fact that we had a bad cotton sea
son last year. instead of being a discourage
ment, is rather regarded as promising good
crop this, in view of the uniformity of the
successful experience of the country in cult
waiting this great staple. Until therefore, we
come to the point where we see that cotton
raising is stunned as hazardous pursuit, or
regarded with distrust, threatening to check
production we protest against the statesman
ship which proposes to relieve such Il great
and prosperous interest of its share of the
burdens which must be imposed upon the in
dustry of the country.
We raise the best cotton in the world. and a
kind which the spinners and weavers must have
i'll order to make their other stocks available.
India cotton is only worked to advantage by
mixing it with American, and the biting expert
ence of five years was wholly unable TO over
come the difficulties experienced by English
spinners in working India cotton by itself.
This is well illustrated by the story told of
Manchester clergyman who was praying, dur
ing our war, for IN increase In the supply OF
cotton. In the warmth and urgency of his feel
ings he for n moment forgot himself and eX-
claimed, But o Lord, no more Surat !" The
English capitalists, goadcd by the most power
full influences, did their best to increase and
Improve the Indian culture But in spite of all
their endeavors, Surat cotton would be Surat
cotton and the manufacturers both in and out
of the pulpit were agonized by the want of the
American article.
1t is under these circumstances that the
American plOuuCeI ItdpptdiS Ill tHe iIclu'
His article is eagerly sought for over all
others, aud at much higher prices than Others.
He enters the market not in pursuit of buyers,
for the buyers are in pursuit of HIM. And
so long as he has bale to sell, they will buy of
him instead of his rivals. And the first ques-
ton, the answer to which is necessary to de-
termne the amount of tax his product will
bear, is: What is the natural difference in
price between American cotton and foreign
grown cottonP And the second answer required
is to the query: How much American cotton
must be raised before the demand will be so
fully supplied that there will be any material
fall of prices9 And the third is, when the fall
does come, who of the producers is going to
cease raising cotton first; the India. the Turk
ish, the Egyptian, the Brazilian planters, who
failed to supply the market when it was half
dollar or u dollar pound, or the American
producer, who always.'made money whenit was
ten centsf
We commend these views to Congress, and
suggest that, until timo aud experience have