The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-09-22
CITY INTELLIGENCE.
TUr wAREHOUSING SYSTEM.


A., 1mpor.ant Document in Relation Thereto
Thc subject Fully Considered mt the Late
1IeesInQ of the Board Of Trade.
he warehousng system OF this country mas Ior some
wears caused considerable discussion among our com.
me Roard of Trade of this city, the subject
der discussion. At the meeting on Monday night,
she snecia committee, consisting OF George L.
Pnzby Eso and George N. Allen, Esq, appointed for
the purpose, submitted q long report from which
the following has been abstracted--
II was a leading design Of this system to make our
great cities depos for the reexport of foreign goods
This purpose it facilitates their importation by the
provision on the part OF our Government OF vast
Storage accommodations for them. 1t was also de-
ri yned through its means TO furnish people with
articles of foreign manufacture 1t thus acts directly
states Your committee propose to comment briefly
apon these two points, in the order above stated.
According to report submitted 1nS to 00ngTess in in
this country in 1850 The re-exports * dt 200 from
shem for that year amounted to s5OCSCoS; c odd In
our total exports foreign and domestic, In
1866 amsunted TO s55OO0OOOO The exports from
onr bonded warehouses for chat year did not exceed
Ss 600 O0O-not two per cent Of the entire exports
According TO the estimates of those best informed,
the yearly exports from these warehouses do not
exceed 100000 0OO he project of making the bonded
warehouse tic entrepot of q universal commerce
has been found mpracticable. Inc expense Win
which t is attended demands that It should be either
materially modified or wholly abolished"
n was n vain concet that this country could, in
the comparat,ve imlnaturity OF her Industrial pur-
suits vie with foreign countries IN the distribution
of their wares among other nations, Great Brtaln,
who for centuries has encouraged by appropriate
legislation her manufacturing interests, ana placed
them upon so sure foundation that tney now dely
connection, afford to smile at our subordinate
function of distributors OF her wares. Our true
policy never lay in building up warehousing sys-
tenn for the benefit of foreigners but In such egsa-
tion as should develop and perfect our own manu-
factures until their acknowledged excellence should
The Second point to be considered is the positive
injury done to our domestic manufactures by this
system. Under its provisions, foreign goods can be
warehouse
ment of duties, and for the extended period OF three
more than an addition Of ten per cent to the orig
nal charges. During one whole year the Govern
ment exacts no interest on unpaid duties, making
goods to assist him in competing with our own
manufacturers In Short the Government furnishes
i'm gratuitousy with capital for the transaction Of
his business About half OF all the goods imported
are entered for warehousing. In 1867 duties were
warehoused S110,756,939, or about 46H per cent OF
the entire imports into the city Of New York for that
S?ar .,,uoo o,,,,, -, ,oco .no ,,o,,o, ,ro,o
q follows:- -
inferred and duties paid $50, 241, ,4e3
Z ltered and warehoused ............. 2S,337, ,459
or nearly so per cent. of the whole.
10 estmate properly T tne 70 orei U
ests we must consider the proportion that the
amount Of duties bears to the value OF the merchan
disc on which they are levied. There were in
April 80 81 see duties chargeabes 400 600
July !, Z" 32,021, ,303; 16,00000C
Jal'y L. '6S, 81, 1,49l, 1924; 1920, ,00(
From this table we learn that the duties charge
able amount to fifty per cent of the values remain
ing in warehouse. During 1868 there was aver.
age value of s43,OOO,OOO OF imported commodities
constantly in warehouse AS just exhibited the hall
Of this amount will give us the total of chargeable
duties, say s21, 100000 Interest at six per cent
this sum gives sl29O,OOO as the value of the dona-
tiOn bestowed in 1865 by too liberal Government
upon foreign manufacturers and producers
side Of the Atlantic @ ' enjoy large oh
nifty from ,eR rent ,,o.a and ora store expenses
with the saving of interest just named enables then
to drive the latter from the field. The people of this
country are taxed to furnish to strangers
conveniences injurious to themselves; fo
of the gross amount OF merchandise in the
bonded warehouses, the portion competing with the
products of our own people Is a very large one
Careful investigation has revealed the fact that there
is perpetual OF more than $40 900. 900 IL
value of competing goods. These piled upon the
edge Of the market, ready to burst upon it and de
range prices at any time.
It appears therefore, that the warehousing system
in effect offers premium upon foreign manufac
lures, and thus initiates against our own. AS WI
see no reason why Government should continu,
TO support policy Injurious to Its own citizens
your committee recommend the passage OF the fol
lowing law by Congress-
That upon the withdrawal Of any goods, wares, o
merchandise for consumption, there shall be paid b.
the owner, importer, conslgnee, or agent or suc
goods, wares, or merchandise, in addition to tn
proper duties or charges interest at the rate OF s
per cent per annum upon the whole amount of tn
duties upon such goods, wares or merchandise fror
the time of the entry Of such goods for warehousin
until the withdrawal of the same for consumption
Such interest to be paid in the same denomination
duties are payable.
The report was debated at length.
In opposition to it several OF the speakers cor
tended that this proposition was in effect incress
incidentally Of the taliff upon imported goods py
tatO and that in the interest eff Pennsylvania indus
try at the present time seriously threatened by FIRE
trade combinations, commanding unlimited amount
OF money, and enlistng much ability in concer
frated attack upon the whole system and policy
protective duties, the Board of Trade of Philade
phia should be very cautious not to take any posto
which should ALLEVIATE the commercial importn
class from Its support by a proposition tending
restrict commerce and deprive it OF those faclitt
which seem to be the natural and Indispensable n
quirements OF modern commercial expansion.
The subject was finally postponed until the nel
meeting.
ATTEMPTED ARsoN.-Between and O'Clock til
morning the resdenta of the Ninth nraninnt of