The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-10-02
Airltntond Dlspatth.
MONDAY. .oCToBER 2, 1871.
THE CIRCULATION OF THE DISPATCH
IS LARGER THAN THE COMBINED CIR.
CULATION OF ALL THE OTHER DAILY
NEWSPAPERS OF THE CITY.
4 he National Commercial COnven.
tson-Friday.

THE PILOT LAWS AND STATE INSPECTIONS.
Mr.. Clancy, of PENNSYLVANIA, from Com
mittee on State INSPECTIONS, submitted a
report recommending the repeal or amend
ment of all State inspection laws, so that
traffic may be made as free as possible, and
commerce left untPummeled also, recon-
! mcndinC the passage Of laws by the States
providing for the inspection OF stationary
boilers on land; also, that the subject OF q
general pilot law he left over until the next
convention, In order to enable the Virginia
delegation to more fully present their
grievances. The report was adopted.
sPECIE PAYMENTs-THE PUBLIC DEBT-THE
INCOME TAXA TARIFF-THE TOBACCO TAX.
The following were adopted:
First. That an early return to specie pay
mcnts will promote the best interests OF the
nation.
Second. That while public debt is of
the highest character of financial obliga-
ton, and any evasion thereof dishonorable
! to nation, and subversive Of that high
! standard of honesty that should character
| ize people in their individual transactions
| rs we'll rs in their national obligations, yet
the punctual payment Of the interest upon
! its debt, and such portion Of the prInc pal
| thereof as serves to show the perfect tinan-
cial ability aud good faith OF mutton to-
| ward its creditors, is all that is necessary to
maintain the public credit. Therefore we
declare that we are in favor of such very
gradual payment of the public debt as will
not interfere with the productive energy OF
the nation, and enable us, by Il nrolopSa.
, tion of its final liquidation, to acquire from
,ycar to year IL greater population to share
aud tighten the burden of its payment, and
to aevrlope the resources Of the nation to
the Increase OF its revenues to meet its ob-
legations.
Third. Equity requires that taxation
should he equally and fairly levied and col
leclcd that the civil service should be adj
ministered with 4 rigid and economical
care; that the government should derive its
revenues, i'll the language of our fathers,
chiefly from imposts; and that direct taxes
should only be reSorted to in extreme
cases, and that the present income tax
should be at once abolished.
Fourth. That it is not 10 the interest OF
the nation to levy any prohibitory duties,
and that every facility should be given to
the direct importation of merchandise into
the inland cities and towns, as productive
of lcssened cost to the consumer, and
saving OF time and charges ut the seaport,
and that duties Oh the commissions, pack.
ages, and all other charges, except those on
the cost Of the commodities, are Of ques.
tlnnable utility.
|
impost duties that it may be necessary from
the financial necessities of the Government
to levy upon the products Of the country
should be moderate in its character. That
the tax upon all kinds Of manufactured
tobacco should be uniform. and reduction
Of the present tax would I've advantageous
to both the Government and the manufac
!: turing interest, thereby increasing the rerc
hue from that source as reduction in coS
increases consumption. and excessive tax
! alton leads TO fraud. That all regulation!
respecting tie tax upon whiskey should bt
50 arranged IS TO surely collect the tai
without embarrassment TO that industry.
The "Specie payments question ha
two sides To it. We also copy the rejected
resolutions:
Rcsolred, That gold should be regarded
only as an article Of merchandise, whicl
may he bought and sold, exported aud i'm
ported, the same as any other product, ant
is inadequate for the purposes OF exchange
Resolccd. That Il national paper curren
cy, secured by the faith and credit of tht
country, and convertible into Govcrnmcn
bonds at the option Of the holder, will If
ford II better medium of exchange, main
tain Il more uniform value, and be suhicc
to less fluctuations and the control OF spec
ulatOrs than any other.