The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-01-26
THE ORESOENT's DISPATCHES.
FROM WASHINGTON.
Cor Orgress-FInaneial-Hou Proceedings on
the Cotton Tax.

Cor gress-FInaneial-House Proceedings on
the Cotton Tax.
WASHINGTON Jan. 25.-Sendte- session.
HOtse-Today's session devoted entirely to
spread eagle speeches.
Six hundred thousand dollars of fractional cur
rency was sent TO Charleston during the week.
National bank circulation, $299 100000.
Internal revenue receipts to-day, 1863 900; for
the week, S2 500 600; for the year, $ll2 $50 900.
The following are full House proceedings on the
cotton tax: Pending the disposition of the ques
ton, Mr.. Schenck, of Ohio, from the conference
committee on the cotton tax bill reported that
the committee had agreed TO recommend that the
Senate recede from its amendments and agree to
the bill with an amendment adding the following
words: And cotton imported from foreign coun-
tries on and after July lst 1865. shall be exempted
from duty. Mr.. Schenck explained the meaning
and operation of the report and the reason why
the conferees, on the part of the House, had
agreed TO it, The provision, he said, did not
affect materially, the interests Of the country or
the revenues of the country. Cotton would be
left relatively, in the same position that it had
been.
Mr. Moorehead, Republican from Pennsylvania,
one Of the conferees, said he did not rise to op-
pose the report, although he had not signed it.
but to explain his own position. He considered
the amendment entirely inconsistent with the
principles on which the House had been acting
for while, on the one band, the House was trying
TO stimulate the production of cotton, it try
rival. 60.
Nj. Beck, Democrat OF Kentucky, the third
cOnieTee, explained his action a member of the
conference committee in agreeing TO the report.
One reason was that prior conference on the
part of the House had agreed to it; another was
that the cotton imported was not such cotton as
comes into competition with the American pro-
duct.
Mr.. Maynard opposed the report, showing that
cotton could be brought from Brazil and India
and landed IN New York as cheaply as it could be
landed in Liverpool. The tax of three cents per
pound on imported cotton, had been required to
be paid in specie, while the tax on American cotton
was payable in currency, and to that extent the
tax had operated in favor or the domestic article
but the pending proposition would bring the
foreign article into immediate and ruinous cOmpe.
tit.on with the domestic article. If the duty was
taken Of domestic wool, why should it not be
taken off foreign WOOL He was for protection of
labor and industry, and he trusted the House wolld
not concur in the report A New Orleans com.
nittee might agree to something better; il Ger.
tsinly woold not agree TO anything worse.
Mr.. Allison, Republican, Of Iowa, said that,
though he might vote for the report, he would do
so under protest, because this was the first time
where, in the consideration of an internal rev.
enue bill, the House was called upon to treat of
a tariff measure. He thought the bill would work
great injustice to the holders of cotton prior to
The lst of July, 1868.
Mr.. Bain, Republican of Maine, expressed the
hope that the House would vote down the report,
aud see whether, with another conference com.
mtiee, the House could not get better report.
Mr.. Schenck said the committee had only made
the concession it had made from the assurance
that no better terms could be obtained from that
or any future conference committee on the part of
the Senate.
Dir. Covode, Republican, Of Pennsylvania,
said be could not vote for the report. The effect
Of removing the tax on imported cotton would be
TO let the manufacturers get in cheap article and
mske goods Of shoddy character.
The previous question was seconded, and the
conference report was disagreed to by yeas G7,
nays 79.
Mr.. Allison moved for new committee of con.
ference.
Mr.. Schenck moved that the new committee of
conference on the part of the House be instructed
to adhere TO the bill, he found that the Senate
committee was acting under instructions.
The speaker intmated that il was not parlia.
mentary to instruct a committee of conference.
1t was supposed 10 be a free committee of con-
ference.
Mr.. Schenck withdrew the motion.
Mr.. Allison OF Iowa, Blaine OF Maine, and Trim
BILE of Kentucky we're appointed as such COM
mittee,