The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-12-20
THE COTTON TAN.
Highly Interesting Debate In the United
States Senate.

H1&hly interesting Ocpdte HI inc Ohitcu
States Senate.
In the United States Senate on Monday, the bill
to exempt raw cotton grown after 1867, being un.
der consideration, an exceedingly interesting de-
bate sprang up, of which VIC subjoin an abstract ::
Mr.. Morrill,, of Vermont, moved to amend by
providing that after April l. 1868, all cotton i'm
ported from foreign countries shall be exempted
from duty. He said this amendment should be
incorpor tied. The Chairman of the Committee
(NIr. Sherman) and the Senator from Massachu-
sets (AIr. Wilson, he beloved had promised that
the tax should be repealed, and the idea seemed
to have generally gone forth. He therefore did
not expect to be able to retard the repeal. lie
claimed that there was as much necessity for the
repeal Of taxes North, East, West and South He
cited the woollen interest and tho pork interest as
recurring quite as much relief as cotton. But
millions OF taxes came out of the people OF the
United States, and the remainder OF the whole tax
out OF foreign countries this entire relief from
taxation was solely in regard to rebels be did
not understand it, He was not in favor OF OPP
pressive measures towards the South, but II cot
ton was to be relieved from tax for all time. 1t
would present the people there as imbecLe in in
dustral pursuits as they had always been. It was
wrong for the North to monopollze manufacturing,
gran-growing, &C., entirely. The grain-growlng
portion Of the country, already limited, would
sometime be exhausted. 1t this tax was al
lowed to remain, and the country should re-
ceive the drawback on manufactured goods,
great good would result, and tho impending
evil would be arrested. Cotton was really
king, and nowhere could it be so economl-
cally produced as in the United States. He
combatted the opinion of the Commissioner OF In
ternal Revenue, denying his conclusion. great
er difference existed between the prices OF English
and American cotton to-day than seven years ago.
He read from the report for 1865 in regard to the
extent Of land employed in cotton culture. Why
not, he said make the whole of the South add to
the productions Of the country! Referring to hen-
tucky, he said that like the goose Ill the old story,
that having it's nest on the bank OF a stream when
the stream rose and swept the eggs away still sat
on the stream over the place where the eggs had
been, that noble State still paddles slavery
long ago gone out. Ho read further from the yarl-
GUS reports from the London Economist to show
that the difference between the prices OF English
and American cotton was greater than ever. 1t
was impossible for other countries to compete with
the United States in the production of cotton. The
amount contributed by the East Indies had fallen
off very largely during the last year, while the
amount exported from the United States had arg ge-
" increased. He argued that it was inadvsable to
stimulate this crop at the expense OF all the others,
submitting statistics to show that more was uni
formly received for small crops in the aggregate
than for large ones, though the expenses OF the
production of the latter were much larger. The
crop of Brazil, Egypt and India was decreasing
and must decrease, while those OF China and Japan
had almost entirely ceased. Our chief danger was
from ourselves in increasing the crop.
Mr.. Sherma- Of opinion that this tax could
not longer be sustained without injury to the
country. he quoted the latest prices to which he
said cotton had fallen although the tax had last
year been greatly reduced. 1t still amounted to
about twenty-five per cent of the value. He point
ed cut the f4llacy of the claim that Cotton was
King" as advanced by the South at the outbreak
of the war; and referred to the fact that the whole
course of cotton production had been changed
during the war. i this tax were not removed
American cotton would never regain its former
advantageous position. He read letters from
several gentlemen in the South in support of his
views. Tho United States had entered into the
competition under different state of affairs, in
view of the changed circumstances OF labor.
Mr.. Fomeroy thought the argument OF MIR. Nor
rill proved too much, ii it proved anything, name-
": That because no oycess Of cotton was to be
feared from other countries, therefore VIC should
not stimulate our own production. That formed
reason for increasing It,
Mr. Fessenden thought this matter should bo
considered when the whole subject of taxation was
before them. He did not see why tho tax should
be removed at once. He held, with very distln-
guished ste esman that at the end OF all rebel
lions there should be clemency, but he was not in IA
vor OF exompting whole section from the support
of the government. He deprecated this party acy
tion without due consideration. He said it had
been claimed that the negroes would vote against
them if they did not repeal this tax. This, how
ever, was not political question but one OF poll
teal economy. he wished to build Up manufacto-
the policy OF the country. He denied that the low
price of cotton wes caused by the tax; it was pro-
badly in part caused by tho large quantities on
hand Was there not the same fall III India cot
ton that being the case, what argument could be
educed from the fall Of our cotton He donic1
the hypothesis of Mr.. Sherman that the price Of
cotton would Le enhanced by free Labor, when
slavery was claimed 10 be Z blessing. The arGu-
ment had been conclusive that free labor was
moro economical and thrifty. He was opposed to
striking of so suddenly this tax. Let them sus-
pend it, il necessary for time, or, Mt all events,
wait until it was seen what effect the repeal would
have on other articles. He feared tho Commits
sioner of Internal Revenue, whom he highly re-
spected, was TOO much influenced by outside talk
by the last speaker he heard. He hoped the Sen
ate would not act with precipitation
Mr. Morton gave notice thai AT the proper time he
should move an amendment to taxall cotton grown
after 1867 one ceIt per pound. lie thought the
present rate onerous, bnt before removing the en-
tire tax at tho South they should consider what
should be done for the relief of the whole nation
Mr.. Wilson advocated the bill at length. claim
lug the tax Oh cotton was imposed by Congress III
the belief that the price would continue at high
rate, and that since it had fallen so low, the tax
should be removed. He read letters from tho
South asserting that the industry OF the South
will be ruined if tilc.tax is not repeated.
Mr. Williams gave notice that he would move to
am0nd by providing "that no cotton remaining
unsold shall be taxed; also, that no tax on cotton
said it was manifest policy to legisae for the
material benefit OF the South. The people who
had been gagged i'll the cultivation OF cotton in
| vested their capital expecting TO realizo largo
profit; but after paying high for wages and sup
plies, cotton had fallen one-haf, and nov would