The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-12-13
The Cotton Tax,

The Cotton Tax,
From The N. Y. World
From the time the cotton tax was first laid,
in October, 1862, until August l, 1866, the
rate was two cents per pound after the latter
date it was increased to three cents, where it
remained until last September, when the two
and a-half-oent rate took effect. During this
entire period the public treasury has re-
allied net proceeds from this single source
amounting, all told, to less than fifty millions,
while we venture to assert that foreign nations,
but England particularly, taking advantage of
the burdens which retarded our cotton manu-
featuring interests, have been benefited to an
amount not less than two hundred and fifty
millions in the displacement effected in this
branch of our trade in the markets of the far
East where we have held such stubborn and
promising foothold, to the ehagrin of the Bri-
tish manufacturers. How much more we are
yet to be displaced in that trade remains
to be seen. But if the tax on cotton is to be
retained, even for another session, we can
readily answer that question Cling to that
drag, and we shall lose the trade. Cast it of,
and we have serious doubts as to the length
of time it will require even then for us to re-
gain the ground lost already.
In considering the question of repeal, it be-
which virtually put an end to our trade in
this channel-the whole bulk of which was
relinquished to competing nations-our stifest
rivals were not idle. Every sinew was strained
| to improve to the tttermost our absence from
the coveted markets, and to 30 effectually
| weaken our hold there as to prevent our future
| control of the trade ON the termination of the
war. No stone was left unturned-no plan un-
| tried. Government patronage; public and private
| enterprise; combined and individual efforts;
| heavy aggregation Of capital; the stimulus of
deep national jealousy, and general COM
! plete appreciation of the incalculable import
| ance of success in the undertaking, were
among the influences that were at work
against us; to say nothing of the intense
zeal that was certainly impaired by the reali-
zation that it was then or neUer with them
that we might never again be so entirely and
so long absent from the great commercial
arena of the world. And what was the result
of all this energy, skill, and capital
| hThe result was that England, which sent
from her shores in 1860 cotton goods valued
at two hundred and ten millions, exported in
1868, of these goods, two hundred and thirty
seven millions worth; in 1864 two hundred
and seventy -four millions; and in 1865 two
hundred and eighty y-six Misunderstanding an
increase of seventy-siX millions in five years,
at our cost, mainly. Retain the tax and you
lessen the cultivation of the product in this
country, and impart of course, appreciable
stimulus to cultivate elsewhere. India,
| Egypt, and Brazil are all experienced in the
production of the staple, and possess large
| facilities therefor; and the chief reasons why
the American growth was used in preference
to that OF these other countries were because
of lower price, better start in the market, and
adaptation of machinery to its length OF
fibre. Let America burden her growth with
oppressive tax, thereby increasing the cost,
afford her rivals more room, and encourage
alt M tO or orc VT
than her own, and no more could be asked by
the most exacting OF her competitors.
Trade bulletins show that in 1860 our cotton
sold in the Liverpool market at eleven and 8
half cents; Brazilian fifteen and a half; Egyp
tian the same; and Indian fifteen: and that il
1864, in, the same market, American cottoI
sold for fifty-fve cents; Brazilian, ffty-six
Egyptian ffty-f and Indian, fifty-four II
1864, England paid over four hundred and
twelve millions for cotton, against two hun
dIed and five millions in 1860. Nine-tenthI
of the staple used by Great Britain in 1860
and nearly eight-tenths of the quantity used
on the continent of Europe, was American
while in 1864 we We're last on the list of sup
pliers. If Congress would know the success;
which has rewarded Englands exertions, lei
it be seen in the fact, pregnant with sgnif
canoe for this country that she paid the Eas
Indies more than one hundred and seven mil
lions for cotton in 1864, and Egypt over sixty
six millions; and that neither of these coun
tries received more than seven millions tn,
year preceding the Rebellion.
The prompt repeal of this tax is demanded
by every consideration for the true intersst
of the country and by every principle of soun(
political economy.
1t is no time now to permit the influence o
sectional views, or to cavil about one part o
the country bearing less of the public burdel
than another part The fact stares us in tn
face, we are rapidly losing prestige and contro
in important markets abroad, because of ill
3 advised measures at home and the longer W,
delay application of the remedy the create
will be the damage incurred.