Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-01-17
Our Industrial Interests<-Com-
missioner Wells Report. e.

Our Industrial Interests<-Com-
missioner Wells Report. e.
This is document Of 100 octave pages.
Its extreme length will prevent us from pub.
fishing entire. The following synopsis will
present its main recommendations: In the
matter of the tax on distilled spirits the
Commissioner shows that, by reason Of the
heavy excise, frauds upon the revenue have
been committed to the enormous extent Of
fue gallons Of illicit distillation to every three
gallons that paid the tar. He ommends,
therefore, that the tax be reduced to one
dollar per gallon, as q measure in the inter.
est not only Of the revenue but Of public
morals He recommends that the tax on
raw cotton be fixed temporarily, or expert
mentally, at three cents per pound that
the petty taxes on watches, plate, etc, be
removed entirely; and that the demand for
increased duties on imports, made by vari-
Gus class interests, on the ground Of exces.
aiss Internal taxation, be answered by re-
moving the internal taxes complained Of.
F The eindustrial condition of tie country is
examined by .Mr. Wells at considerable
length, and with much ..minuteness. The
average increase, of prices of commodities
and Of rents is shown TO be equal to ninety
per cent. as compared with the average scale
prevailing in the four years l859-62. The
wages Of labor show an average increase of
only sixty.two per cent. The effect of the
increase Of prices has been' extraordinary,
and in some respects alarming. As is
almost always the case, the first effect of such
increase is diminution Of production and
consumption. Thus it has happened that
there has been decrease.Sf feIeven per cent.
Al ...1ba- IocIs ~, ~ "A =, -, n,,.
featuring industry in Massachusetts as COM
pared with the year 1855, and decrease Of
three and one. half per cent in the value Of
the same year. In some branches of manu-
facture the decrease has been very remark
able-in cotton manufactures the dimiuu-
ton in the number of hands employed being
thirtp one per cent, and in the value Of
goods manufactured fffy sir per cent. 1t
is shown also, that during the past six years
there has been ne increase in the manufac-
turing industry of Pittsburgh, although the
tariff on the articles principally produced in
Pittsburgh has beer enormously increased
the extreme high prices having nullified
any advantage which Pittsburgh might have
heen expected to derive from the tariff. =
The capital invested in manufactures during
this period has increased at the rate of only
one fifth of the general increase of popula-
ton and capital in the country This, MIR.
Wells thinks. must be regarded as retire.
gression. Our exports have likewise large
ly diminished. In 1860 we exported nine
million dollars worth of cotton manufac-
lures. In 1866 they had fallen to one nil
lion. Our copper and brass exports have
fallen from 81. .664. l22 to $40, POS, and our
wooden wares from 2,702, ,095 to $720, ,625.
Our trade with South America has dimin-
ished to one. sixth of its former magnitude,
while that of Great Britain with South
America has increased three.fold in the
same time. Finally, it is shown that -four
| has been imported from France. and starch
from England to New York within year,
and sold at aproft.
The increase of prices which has made all
these things possible is attributed by Mr..
Wells to three things. lst scarcity of
labor I'd, an irredecmable and fuctuating
paper currency 81, excessive and unprece-
dented taxation in the form of internal and
external duties. As to the first difficulty
no remedy can be provided by legislation,
except, perhaps, in the way OF encouraging
immigration. As to the second. 4 gradual
return to specie standard is recommended !;
and as to the third, and most important, be
remarks that IL is entlreiy Wltnln the con-
troll Of the legislative department of the
Government, and that the only question is,
in what manner and to what extent can a
reduction of existing taxes be now made,
compatible with the requirements of the
Treasury.
The whole amount of revenue by internal
taxation during the fiscal year ending June
! 80, 1866, was 1910, 906 0s4 currency. and
from customs duties $l79, 046,630 gold
Reducing the customs duties to currency,
the total amount of revenue drawn from
the country in the various forms of taxation
for the year was 1851, $40, 266, which is
equivalent to a tax of SIC 04 currency per
capita, or $Il. Ga gold, in population of
thirty five millions The per capita tax in
Great Britain is $1,000, and in France
81 81. The national debt per capita in the
United States is $74 1s, in Great Britain
$l25. 90, and in France $53. 90.
The vexed question of the tariff on wool
and weolen manufactures is discussed at
considerable length. The conclusion ar
rived at is, that if the demands of the wool
growers aud woollen. manufactures were
complied With, the result would be an ag,
gravation of the evils they now complain of,
and an unjustifabls, burden upon the con-
sumers of woolen goods.