Year: 1866

dOUSE-


Mr.. MORRILL, said that the general pur-
pose of the Committee of Ways and Means
had been to follow the votes Of the House on
all questions debated and acted on by the
House. The most important amendment
was in regard to cotton The House, by q
very large and decisive vote, had put the
tax at cents per pound, and the Senate
had reduced it to two cents He for one
much preferred to have the tax FIVE cents,
and at all events it should be nothing less
than three cents. He believed that it would
inflict no injury on the people of the South,
but that they would be earnestly in favor
of it. The reduction of the tax from five to
tw) cents would make a sad hole in the rev.
enues of the government.


Mr.. RAYMOND enquired what would be
the probable amount of diminution in the
revenue if the tax were reduced to two
cents?


Mr.. MORRILL, gave the estimate at ST.
100000.


EMr. RAYMOND enquired further what
The diminuiion would be with the tax at
three cents2


Mr.. MORRILL, estimated it at SIS, ,OOO, 900.


He went on to speak about the tobacco
amendment, and declared as his opinion
that tax of twenty cents per pound was
little enough.


In regard to the amendment allowing
gas companies to add tax TO the price of
gas where such price is fixed by law, he
thought a refusal to concur in it would be
species of hardships and tyranny which
the House would not like TO be responsible
for.


Mr.. GRISWOLD expressed his concur
renee with the Chairman of the Committee
of Ways and Means on the question of the
4 /. =. r4sa,-
discussion before in the House, he had
stated that at twenty-five conts pound
American cotton would be used in England
in preference to the cotton of other eOun-
tries. The gentleman from Massachusetts,
(Hooper) had demurred to that statement.
He now gave as his authority for it the
member of Parliament from Carlisle, large
Manchester cotton spinner, and the Lon
don Chronicle of April 9TH, 1866.


Mr.. HOOPER, of Massachusetts thought
the sources of information rather suspic-
iOus, as that great cotton spinner might be
interested in the growth of cotton in India,
and would in that case prefer to have Amer
lean cotton taxed five cents a pound


Mr. GRISW0LD expressed his belief
that England would gladly consume three
millions of bales of American cotton at
price not less than % cents pound. No
branch ofindustry could so we'll contribute
to the national revenue,


Mr. KASSON thought he (Griswold) had
entirely overlooked two things; that the
accumulation in England had been ex-
hausted during the war and consequently
there was an extra demand at the first Op-
portunity, and that the tax would have TO
be borne entirely by the people Of this
country Under this tax aud with draw
back on manufactured goods exported, these
goods would be sold cheaper abroad than at
home. The profits of the manufacturer
would come not from the foreign, but the
domestic consumer. He was informed that
at the present cost of labor cotton could not
be produced at less than Is or 1G cents per
pound, and tax Of cents on that would
be equal to 3314 per cent.


Mr.. STEVENS said that enY man who
had studied the history of the soils, climate
and productions must know that America
can produce cotton at less than half the
cost of its production in other countries Ii
the cost of producing it in this country were
80 cents a pound, it would be all bought.
A tax of FIVE cents a pound would not
therefore, stop the sale Of single pound OF
it, neither would tax Of ten cents. If Con-
gress had been wise enough TO adopt the
cor stitutional amendment he had proposed
10 levy an export duty Of ten cents pound



two to three million dollars, and thus the
country would have got some little pecuni-
ary compensation from those who had been
the cause of this mighty debt of the nation,
but as this was not done Congress should
levy the tax of Eve cents.


Mr.. BANKS advocated the tax Of i've
cents on cotton as one Of the means Of de-
irving a revenue 70 pay the debts Of the
Government Before the cotton crop of
the country could be largely increased it
would be necessary for the Government TO
extend its aid in repairing the leVees on the
Mississippi, in relieving the planters of the
Southern States from their proportion of the
taxes for a time at least, and in sustaining
and supporting the people engaged in
agricultural pursuits. He believed that
the quantity Of cotton produced would be
doubled or trebled and that it would be sold
for half its former price. He believed it
could be raised for two and half cents per
pound when the former slave becomes the
owner and planter Of one, two or five acres
Heretofore cotton had been raised in only
five States. He believed it could be grown,
more or less pro6tably in twenty States.


The debate closed by the previous ques-
tion and the House proceeded to vote. The