Year: 1876




WASHINGTON, Jan. 81, 1870
THE NEW TARIFP BILL-DETAILs OF THE MORE


IMPORTANT CHANGES MADE.


Mr.. Morrison brought In his revised tariff to-day,
and It 10 the committee. II contains au-
TO the reimpostion Of an import tax and the
port this effect some OF the New York papers is
The most important changes pro-
posed are those regarding wool and wool
lens The general opinion OF the woollen
manufacturers o, the country at present is
thai they would be greatly better of with free wool
and duty Of twenty five per cent on woolen goods
than they under the existing tariff for OF all the
industries Of the country is depressed than
the woollen mills Nearly all the great woollcn mills,
except the Pacific at Lawrence have gone into bank
ruptcy the enactment OF the famous wool
tariff OF 1865 Nor have the wool growers
Jared better though they demanded the
now in force. The product of wool east OF
the Mississippi is to-day not moro than half what 1t was
In 1868 and prices not equal In currency to
prices in gold in 1859, when all woods in duty
free The committee to have thought 1t unwise,
however, to propose radical change and make wool
Free They have reduced the duty wool about hall,
and manufactures proportonaly.


The duties on cotton goods have been brought down
to average OF about thirty per ad vaorem The
naNlBatOu SNOW tndb no reVenue
Of any account has been derived from such goods
where duty much higher than thirty per cent has
been exacted. Tea and coffee are put back at
duties of four and ten cents. This. If adopted
will give a revenue of about SIS, oOo, 900. In
doing this the trainers OF the bill disclaim
all idea OF increasing taxation in the slightest degree
because prices did fall with tho repeal Of these
duties but they assert that by laying these duties
they relieve the people OF much greater amount
OF taxation which falls on the consumer and only in
slight degree benefits the Treasury. With a
view OF making these facts clear It Is
proposed that the Ways and Means shall
publish an annotated BILL showing what each duty
amounts to ad vaorem, and also what Il has
produced during the past year. Such bill was for
mery prepared At every session by the Special Com
missioner of Revenue, but since Mr.. Wells OF
Office It has not been attempted


Duties proposed OF three cents per pound on
bar and block tin. These are FREQ now, but are
the only metals not producing and
is held that the light duty laid will be much less bur-
densome than many duties imposed on other articles,
In the existing tariff, as, for example, anline dyes
which hold Important part in woolen and silk
manufactures, and the present duty on which Grip
pies our manufacturers and disabes them from CON-
peting with foreign rivals in our own country
Some OF the most important articles put the free
list in the bill soda ash and the salts OF soda
These articles essential to the manufacture OF soap
and glass, and TO the processes OF bleaching dyeing
and oil refining. Many OF the most important OF our
industries require these articles be cheap as pos
sible.


Duties on most irons are reduced to an average of
about thirty per cent pig falling from 81 to IS per
ton and scrap from SO to 81 Copper is reduced from
Eve to two cents per pound and thus end is pro-
posed to the present copper monopoly, while chance
given TO reesablsh large smelling industry employing
many hands, which was crushed out deliberately by the
old duty when imposed on copper ores, which
is proposed shall now be free OF duty.


Altogether the changes very conservative in
character, and have been purposely made so, there
being disposition to disturb industries prosper
by arbitrary changes but strong desire revive
the great Industries OF the country by making cheap
the materials which they use and thus counter.
acting the present tendency reduction OF the wages
OF workpeople.


THE PRESENT CONDITION OF THE TBEAsURY-A


MEMBER WHO WISHES TO KNOW


Mr. Hewitt, OF New York to-day introduced a reso-
luton calling the Secretary the Treasury to fur
nsh the House with a detailed statement showing tho
Of actual cash hand the Treasury and tho
several government repositories at the close OF
business the 25th day OF January, 1870
specifying how much thereof was In frac.
tional currency; how much legal tender notes;
how much in national bank notes; how much in gold
coin or bullion how much In silver coin or bullion;
how much In gold notes, counted cash how much
in coupons, counted or held as cash; how
much In called bonds, counted or held as
cash. how much in any other items not
specified above, counted held cash.
and how many legal tender are actually held





whom bonds held for circulation have boen surren.
dered and whether these legal tenders received for the
redemption OF such bank were held as a special
deposit or accounted in general cash balance reported
in accordance with the terms OF this resolution.


Tho resolution attracted Immediate attention In the
House because OF It's mysterious demands. The story
fany has Is supposed to lie in It's tail, although the
inquiry believed also to have reference the
accumulation OF silver substitute for the fractional
currency. But tho main object is to and what the
actual condition Of tho daily OF the Treasury is
THE CURRENCY QUESTION FEELING


AGAINST THE RESUMPTION ACT


As 10 the currency strenuous effort is making 10
unite the friends OF sound money the democratic
side favor OF practical pan for the resumption
act so called has few friends In the House on either
side but there unwillngness repealn until
thing better Is done lest the repeal should look like
turning back There Is certain amount Of reluctance
among some democrats to touch the currency
question at ALL and Mr. Fernando Wood appears TO be
the leader Of those who wish nothing dona He begins
70 be regarded by tho friends Of lound legislation In
Congress as tho most obstructive man. capable OF
erting any considerable influence on the floor. He Is
said to have expressed himself as decidedly in favor OF
doing nothing


FROM OUR REGULAR CORRESPONDENT.


WASHINGTON. Jan. 81, 1874