Year: 1861

b a,Aolhe inferred from The speech of Mr..
Stephens, upon, his acceptance Of the Vice
Presidency of the Cotton Confederacy, that the
Constitution agreed upon for it, limits import
duties by maximum Of ten per cent.


Constitutional restrictions can be of very little
Importance, where Constitutions are made by
Commissioners, representing nothing but State
Conventions, and these Conventions acting en-
tirely outside Of and beyond any authority with
which they were clothed. Such Constitutions
can be unmade as easily as made.


The real question is, upon the assumption
that this Cotton Confederacy is to be main
tanned, what sort of policy will be dictated by
the necessities of its position?


Az it will need, of all things, revenue, and
cannot rely upon direct taxes upon poor pop.
ulation, it must resort to all indirect taxes which
are available.


They cannot impose an export duty upon
cotton, without placing their cotton growers at
such disadvantage, as compared with cotton
growers elsewhere, as will ruin that great branch
of their industry. And this is especially true
now, when such extraordinary efforts will be
made to stimulate the production of cotton, in
every region where it can be grown. If the
Gulf States had the monopoly Of that staple,
they could tax its export to any extent, but as
they have ne such monopoly, they must per.
NIT it to pass untaxed into the markets of the
world.


The limit to import duties, is indicated by
the rates at which smuggling comes in to de-.
feat duties.


Upon the long land line between this cotton
empire and the United States, smuggling is
physically as practicable in one direction, as
in the other, but it is not so commercially
The South is in the habit of receiving its sup
plies Of European goods by the way of the
North, and this habit, or fact, is the result o.
another fact, that this has been the cheapest
and best way in which such supplies could be
obtained. If such goods were inportable duty
free at Charleston, they could not be furnished
to the Northwest so cheaply, as by importation
at New York, paying moderate duty. With
equal duties at both ports, the Southwest could
be furnished so much more cheaply from New
York, that smuggling into the Southwest from
New York would be inevitable. The only
method Of equalzing the advantages of Charles
ton and New York, is to have the scale of du
ties at the former port much lower than at the
latter.


A writer in the Charleston Mercury, cor
rectly apprehending this point, and even in
sisting that any duty at all is out of the ques.
ton, says:


1t has been argued that a moderate duty
on all goods from abroad would give protection
to our commerce, by subjecting goods coming
from New York, and that had already paid dut,
there, to second duty here. We have no con
fdence in the efficacy Of this ssggestion. Som
goods lciH be iodreh0used and exported to III
South in unbroken packages, as gunny baggin
for example, and the great bulk of the foreig
imports, certainly all the fine goods that ar
sold almost in retail quantities, piH pay til
duties in NeW Fork, and be sent to the Soul
By q thousand channels Of RAILROADS, riper.
kc, and be introduced free Of duty. 1t woul'