10 The Tariff as it is, compared with Hundred Millions’* worth of Silk abroad, we had for the Iasi twenty years studiously protected and fostered the Horne Production of Silk, so as to import less at first and by this time none at all ? Il we had imported but Seventy.five Millions’ w»r!h in the twenty years, and produced One Hundred and Fifty Millions’ worth for ourselves—of course, in the rude infancy of the business, at a little larger nominal cost—does any man believe our Nation would Have been poorer than now ?' I cannot imagine it. I am confident the Nation would have, been One Hundred Millions richer than it now is, in a mere pecuniary view, and in a larger sense still more sensibly benefited. The introduction and vigorous prosecution of this new department of industry—or rather, this variety of departments—would have called into exercise and activity much talent, ingenuity andin- dustry which have lain dormant and unused—it would have given employment and at least independent subsistence to many thousands of aged, feeble, decrepit persons, who have in its absence been idl« and a burthen on the benevolent or the public—it would have trained thousands after thousands of.the young to habits of industry and of finding pleasure therein—it would have made lands productive and valuable which are now fruitless and worthless—and it would by this time have secured a home supply of Silk at a less cost than is now incurred in its importation. We possess those varieties of Soil and Climate most favorable io the production of Silk. We have an abundance of the labor requisite for the business, without diverting essentially from other occupa tions, and we have more skill and ingenuity in our industrious classes than can be found in any other Country. Already, in the veriest infancy of the Silk business, we have made important improvements and inventions in facilitation of its processes. The Multicaulis fever, which once raged through the land, has subsided, and the business of growing and manufacturing Silk, tinder the benignant operation of the Tariff of 1842, is beginning to assume a consistency and strength, as well as activity and progress, unknown to its former history among us. It is in this interesting and hopeful crisis of this new but most essential branch of production that the McKay bill is interposed to crush it, by reducing the duties, not to the usual 30. per cent, which even that bill declares necessary for Revenue,'but to twenty five, (the highest,) twenty, fifteen and twelve and a half per cent. ! The production of raw Silk is to be allowed but twelve and a half per cent 1—and this under the bill which is said to afford an incidental production of thirty per cent, to American-industry, by wisely discriminated duties I Does not this one section expose the utter futility of such pretences ? Here is an important interest whose infantile weakness specially requires protection but only encourages attack, and it is to be crushed remorselessly at a blow. It is crushed, too, to the advantage of France and Italy—countries which take nothing of us which they can produce for themselves. Ought this to prevail ? J * importations of Silks into this Country for five years preceding the adoption of the present Tariff, from the official returns of the Secretary of the Treasury : 1838..........................$15,434,606 1840....................... '. $12,982,284 1839..................... $31,362,670 1841...........................$21,312,107 1842..... (previous to the Whig Tariff)......... ...$13,342,822 Average per year.$19,088,837. Total..,.,.,...........$95,434,489 XV. The Mode of Levying Duties on Silk. Informer Tariffs, the duties on Silks were usually levied ad valorem; in the Tariff of 1842, these were almost entirely replaced by specific duties, of so much per pound, according to the quality and value of the article. This change was suggested and urged by eminent American importers of Silks, who had found by sore experience that their business could not be safely, profitably prosecuted by Americans under ad valorem duties. The reason is this: the American importer goes to Europe and buys Silks for the American market—say $100,000 worth—at the lowest market rates, and pays on the importation thereof, say twenty.five per cent, or $25,000. But a great French or Italian Silk Manufacturer also sends over the same quantity and qualities of his fabrics, consigned to his brother, cousin or factor here, and he swears that the goods cost but $90,000, which is in his sense the truth—he putting nothing into the account for Rent, Machinery, Interest of Capital, &c. for he says, ‘ All these expenses were incurred or inevitable even if I had not made these goods for America. Making these has kept my works going, and my workers employed ; they have actually cost me but the price of the stock and labor consumed in them.’ He thus pays $2,500 less duty on goods precisely alike in quantity and quality to those imported by his American'rival. Can the latter go on in this way ? Clearly not. Here is the fundamental mischief which has caused the almost universal ruin of American Importers of fabrics, whether Woolen or Silk, so that of a list of one hundred American Importers of these goods ninety-seven were found to have failed at the close of twenty years. Here is the evil which in its inevitable effects, has given the more Commercial portion of New-York the semblance of a Foreign City, whose sign-boards speak all the languages of Europe. I am confident that there is not another City in the civilized world whose resident wholesale merchants are to so great an extent Citizens of other Countries. Far is it from me to dispute the right of merchants of other lands to locate here as a favorable mart for the disposition of their goods; I only object to the injustice and wrong of giving to Foreigners a preference over our own citizens in the proseeu- tion of American internal trade. A great advantage is given them whenever duties on importations are assessed ad valorem on the Foreign cost of the goods; and it is the, clear dictate of equity and sound policy that duties should be specific wherever that is possible. Such is the uniform rule of all enlightened Governments. In the case of Silks, this mode has been deliberately adopted in the existing Tariff, after abundant experience of the evils and ine'qualities of the opposite system. The new rule has been tested, and works well. The American importer has now a fair and equal chance with the Foreigner, so far as the Government affects either; for though the Foreigner’s silk might be sworn through the Custom House at a lower valuation, and consequently pay a lower ad valorem duty, it weighs just as much in the Custom House balances as the American’s, and now pays the same duty. Here is a broad avenue for fraud and injustice closed at once, and the effect is most salutary. I have spoken here only of Silk goods, but these
RkJQdWJsaXNoZXIy MTM4ODY=