, 1870-10-21

lax or spy system ahieh provi ,es for collect
inr money ficu tho rcnf1e IL necessarily
l.u5tasn. 1 have no faith in any financial
SLY nc which rror- res to l:nt money ints the
It ron lie Industry a=d labor Q: tho coun-
in. IS one nf the means fa- collecting the
1tyerne rccesaa1y tor ihc administration Of
the cosetnmeut, and without which it cannot
10 ca; ,iei on. dssics have fsoIn the Begin
pirC. br the acquiescerce Of all parties, hecu
Levied On certain .siicles imported from
abroaa. Tho tariff Of 179o imposes au aver
age duty Of Only 81 tcc cent, and tha aver
age duty in 1861. at the comu,cnccu,t7: OF
the war, was only 2o1,< per cent. which, na'er
the tarin act, AZ it ozia:ed in July l'rs,
hports she 'vssss' rs a9'y per on cert. :''a 10 70
sane person woulI think Of ad:Iirg ~
yer cent to the S4t5, ,2..3, tue value
of the dntiable imports brought into the
country during the year 1862 either under tho
An.e ericSn system, or any ether usme, nnless
the s192, ,87e,265, which the people paid by
way Of an enhanced PRICE on this sstieles ttey
consumed l,a4i gene into the pnnlc Treasury
and relieved them from Ike atuonnt Of tax
alton in some other form. The duty on cofree
last year va. five cents peg pound /; it is now
reduced to three, arsl there was collected
from duties on that article a!ouo t1u.iaS the
ses1 1863 uoEe than 512,G9o, 600. OF course
this was tax upon the people to that e1tert-
Every person who bouGht J. pound of coffee
raid hve cents more for it than he wonl.i have
hsd 10 ray bnt for the imposition Of the dl'y.
In fact, 1o paid something more than
diticnal ca5i,al Which it would require
10 tral in coffee in consequence Of having
to rar tie duty. A tariff IN coffee il pnrely
n rcyt nue. tariff. becau-e coff-c ie rti+s'! III
,iar g. u.trr. H"w tioes saa Gaze diIer ~I.sn
cu;y IL inlost ~. al a1ticla which is partly
rIcr.uied or manufactured here: Take. IA an
i!nstlatltu, lumber, much the greater porsiou
of a1.ich ia 3rnGu ed or manufactured in the
Erl.ed States, aud of couzso tue government
receive. Io revenue from that. hut onlr from
30 uucl, AZ comes from abroad.
AccoEcicE to tue report Of tue Special tom
missioner ct the l:cyeEne, Mr. Wells. the .suty
was % PCT cent, and there was collected fram
imported lu1aber, during the year 1865,
S1..G2, ,ts0.iT, and he estimated t.at ths a9-
dltieral fr7ca whieh tie nco7lo paid on all
lun.l~r consumed in consequence Of the
duty on that imported from abroad,
arI,ro, mated 16,0oo, COO. Assuming
tllht the price Of lumber. not only thAt i'm
| Torted ut that produced IN this country, III
| in tte case OF coffee, Was raised to the pur-
chaHtr to the extent Of flte duty imposed, that
is 20 Per cent OIL the wi.ele s1nunut Of lumber
urt Il in tic eoEta.zy 1u.inS tsc year, AID t!tp
enharced prices cn the wlsoe, foreign aud do
u1t eic. would AMonns TO rlearly @l6- U.}l, ,M}D,
! ahly II 10. 0:tt,i7 Of wlich went in"a tec
! IreaEnry. t1 that the renrle OF t..i- torutcs.
III c,eer 10 get little over s-.60t 600 into the
TIcasnIy Of the Uni'ed States. psi:a bounty
Of Leasly E15.0ou.G01 to tho luna.'cru.en Of THE
county; a1al thi- u hal isea1iei l'Y eonle sft
"Ame,itan :;,sten." or Protection to Am
eriran Iunustly.' Nothing bas tended mort
To ni=i* al. the p,s:,ic a. to tho true character
ofs r.otssiise :'s'a ia" ths ap2ie ,tIea 70 !
"l'rotec.ion to American Industry
ard the d'nuucia:1on Of tl,ozs
who cp3rse a protective, tnsiI as th'
aevcrAtrr cf n ttfcr' ign Ynficy." There ncrr.
was d greater misnon!er. Iiowis il protect
irE American fetfn4try any more to give
bounty to lnnahcsmap, man workin:; in Al
iron establishment. or in any sort of a U11nu
factory, tlsau il he we're fmrf1Se'a cultiy1sln:
the soil or digging iu ynAr ttr1nts: Is no
one sort ct labor as inucl, American a- Al,
other? Wly, then, should n refusal to IA:
ore, and much tie larger, :aba-l:s ln,etrs: y
| the country, for the benefit of another an.
smaller Interest, he denounced az d fotcisi
policy Z: Be not deceived By names or phrases
| That rx stem of fnNs il mort just. ard aifer.i.
tho test protection to American industry
which treats all branches Of industry a1ik''
ants Iefnees to burden one for the lteuefit al
ann'1er. end e-recialiv when t.at other con
hIitutes but sm1ll portion nf the cnnutEr>
industry. Any tariff is 8 tax nn tue domeet;,
Industry OF the cnuGty. considered AZ +:
Whole: and it ir only tu particular interests
and thotc engaged i'll them, thai il is ever I'll
Advantage. Ilox then ought this tar to b.
arranged, 20 as to iupose its chief burden
OH the wealthy, aud 10 nc iesst burlensouls
to the great boGy OF t1,c people: Not suras'
a,F importing the Psme per cent Of duty on al
articles. ini br judicious determinations. in,
ptrire high duties Oh 1uxuEics which 1Ee con
e,ln,. q eh1-EE by the sich. ard lewez duties o.
articles which enter into general consumption
stch ah tea, coffee. sngsr. salt, and tbe like
! which are consumed ty rich and poor alike
4 family in moderate circumstances nften cor
huIner ss mauS pounds OF ccitte, and, there
fore. pays as much tax Gu th,s article Az tn
wealthy millionaire; Willie, OF casllnattt
ehsw!s. laces, fill. silks, ard hiEl-r:ieed aine :
Abe wealthy are the oalS ,pu.ct,.strs: a::d, b.
hyying higher duty on imports Of that cha.
acsel, they are made to pay, ~ tges ought.
greater proportion st the taxes shau ne,s o
Experience Las rh0Wn that one Of tlIe cas;es
ways tn raise portion OF it. anil ore wllc!, i
least felt by the people. i. 10 Impose dsi.ic
on imports. Free trade II. therefore. rcf sd
vi.able. What is the primary and great obtec
III lpoeing duties 1t all : Surely to raisc th
.l,en, slln'l they br arranged gu az best to &C
campIish thnt nhjrci, Thar il. 70 al to rails
rt,eluo with ite least burden 10 the poopls
Tic enlcnnt collected from iuro:ts t1e lie
fiscal year wae S192. s1s. 295, Witch was I'll
lasscst amount ever collected in . single year
!
tie coin interest on our indebtedness. Tht
| cortcuucnce ia. that there h.s been 1arE'
surplus Of gold in lite Treasury, come Of ~hc!
l,sr beeD used in purchasing The ho7ds Of ih
United Statts, aud 13rSe amount, so:n'
eighty tt1d million, il atil hoaidei II, in tn.
. Treasury. where ii ought NOT TO be. 1ne tariff
il my oI,iHion. ought to be etii further re
; dGce,l, aud III making That reduction sttictF
upan revenue principles. with discsirntnatloa
! in iavor OF ARTICLES entering into general use
Eli the protection will IL, atsur1sd to part cu
lar b,sncls6 Of industry which they caa raa
so1Ialls require.
,, In regard to the currency Of the cnuntrl
| MT Yiewa hare undergone come ch7nHs With
! the last feW- ytkre. | wAs always Lls
! money man. and bclicve1 that gold and silrs
:. fuEnish~d the Eest circulating netliu1a for tt
masses Of tho people. and 20 I still thial
! hoWever, necessary to c.r7y en- the com.ae'
> cia1 bu-inese Of the country. After gr'd 81
! rilrtr, the be1t hest circulating mesinm Il
: the great body Of tue people il paper cn
:, reEcy Of utifo.m value in al parts Of tt
country, msdo secnre, sna convertible in'
y dt-s s1c got out Of the say, aud the couutt
!. sl'sll haye 1esuned specie paymt;,.,s. the u
- iional Banks will sf5ors. I was at ona rim
! il Git ~ iu assent to the proposition which
r ~thl sdvocated by st1nc, - lEsue legal te
as,ss atrs Z e [a, ,ee x. Of o S;tisna ss II d. -
: inE M the National Eauk-. i=sui,
= threc tuua:ed million Of legal tcndo
ID or ereenbscks III lieu Of thcir circulation, d.
!; With ,hffe hnEing tfp and cancelling an cqu
20 sEeuIt Of aterestbeasing hon1h =eer.as pla
,s -.'1t- Siucs the SECURITIES on viii: tic y
Il ticntl Bark til1s sro based are The intera
e eesricg tond. of the U1itcd States, wl
:, .hp1;ld not the Government issue tho bills
- sertty in The thape Of legal tcrders, a1d "a
~ the eighteen mi'Ilon Of interest in col
~ which it aunually pays the banks on tbs bon
- depeeitcd AZ security for THAR circulation
+ not be wise policy, even il it were true til
~ the Government could eavc eighteen ruilIi
!. Of dollars By adopting it. Merchants ln1
- :, mere : trading in dry goods sfioem7kers a
~ halter. IN the manufacture Of sbces and ha
~ ~ and yet it does not follow that it wouli
a Wi.e for the Government to prohibit 1,1lv:
: prrrcu from engaging iu encf pursuits. 4
~ =. tax" to itself the exclusive sale nf Gry g,o:
=, or the making Of shoee and hats. because
!. WAS supposed that money might te nals
20 doing.
"a nent to tnrn msielapst manufacturer.
- Na1Rer. But ii il hot tue that the gore
~ mstt could save 4l3, ,0Gg. .0o1 BIZ Issuing le
,e tenders ia ri,ce OF the National 1'snls not
i for TIT leaeon tlstt the Satlosal Banks ps
~ -, lassu rtSerue il tho way Of taxss lut4
~ .reasuty. which would i,s lost it :!sey y
u, s, *.e .;s' - ~. 49,: .1snn;. 80 ~sI
Ut 'sen e!ca'.nou. " .ne.l aepes;' 49, ~
" " Dl1 900 Of intere It ili"x receiy. from gove
\; mcpl. There are. howt yer, objections 70 is
f.; r., ing Esore legal tenders Such an is:ue VIZ
~ ~ st'I further depfeciate til.ir value. and wo
III ! indefinitely po-tW ne return to Hpetie r
~ Meutt. IeEsl tenders arc nov deprecta
T., somc II per cent, ard il the amount RI
- ~. doubled, doubt r3t woufd 10
-. p1ecikted more tnan twics t
- amount. 1t IL but 4 few moa
Il since thes were wctth but: sixty cents On
~ | dollar. The reason for their presept apt
Il CATION do not profess to understand. 1