The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1871-09-30
BALTIMORE.
The Commercial Conv ention.

BALTIMORE, September 29.-The Ma.
tional Commercial Convention met at
ten o'clock this morning, with Presi'
dent Bishop in the Chair Prayer was
offered by Rev. DR.. McCrow.
Mr.. Thurston, Of Pennsylvania,
Chairman, presented the report of the
committee on Finance and Taxation.
The Report, after alluding briefly to
the propriety of the action by this Con-
vention as a representative body OF the
people in recommending measures to
Congress, proposes that the Convention
declare
First. That an early return TO specie
payment will promote the best interests
OF the Nation.
Second-That while the public debt
is a high character of financial obigat
ton, and any evasion thereof is dishou-
orable, to maintain and preserve that
high standard OF honesty that should
always characterize people in their
individual transactions, az well as their
national obligations, yet the punctual
payment OF the interest upon the debt
and such portion OF the principal there
OF answers to show the perfect fiscal
ability and good faith Of the nation to-
wards its creditors, is all that is neces-
sary to maintain the public credit, there
fore We declare that We are in favor OF
such very gradual payment of the public
debt as will not interfere with the pro.
ductive energy Of the nation, and enable
us by prolongation OF it to finally liqui-
date it from year TO year, and give the
population chance to share and light
en- the burden of its payment, and to
develop the resources OF the nation to
the increase OF revenue to meet the
obligation.
Third-Equality requires that taxa
ton should be equally and fairly levied
and collected that the civil services
should be administered with economy
that the government should derive its
revenues, in the language OF our fathers,
chiefly from importation, and direct
taxation should only be resorted to in
extreme cases, but the present income
taxes should be at once abolished, for |
that it is not to the interest OF the nation
to levy any prohibition duties and that
every facility should be given to the di-
rect importation Of merchandise into the
inland towns and cities, productive Of
lessened cost 10 the consumer, saving Of |
time and charges at the seaport and that
duties and commissions on the packages
involve charges except on the cost Of
the commodity, is questionable utility.
Fifth-That any taxation in addition
to import duties that it may be neces-
sarv from a financial emergency of the
Gayeyssaapt, 'ea,1aaa saon. aSadncts af
character, and that the tax upon All
kinds Of manufactured tobacco should
be uniform, and reduction Of the pre-
sent tax would be an advantage to the
Government and manufacturing inter
ests, thereby increasing the revenue
from that source. As reduction in cost
increases consumption, and excessive
taxation leads to fraud, all regulations
respecting the tax on whisky should be
50 arranged as to easily collect the tax
without embarrassment to that IN
dustry. These declarations your com
mittee believe fully embrace the intent
of all the resolutions referred to them,
and are submitted as their unanimous
report for your consideration anl dis.
posal.
Mr.. Ramsey, Of Ohio, moved to strike
ont that portion of the report declaring
tn at the Government should raise Its
revenue from imports. After debate
the motion was lost.
Mr.. Snyder, of Tennessee, moved to
strike out the clause relative TO an
early return to specie payment and
offered as a substitute resolution de-
claring gold commodity to be bought
and sold as any other and iavorlng paper
currency.
An animated debate ensued, after
which the resolution was lost.