Abridgment of the Debates of Congress, from 1789 to 1856.

DEBATES OF CONGRESS. 137 JANsIARY, 1833.] Reduction of the Tariff —Mr. Verplanck's Bill. [H. OF R. neighborhood. If itwas wise and statesmanlike months ago, it is now sought to take away in 1816 to regulate your duties, with a view to three-fourths. Can any pursuit or occupation your existing manufactories, amounting then bear such an application of the retrenching probably to not more than thirty millions of knife? I believe there is no mistake in my prodollars, (though I have no means of ascertaining position. The present duty on cottons, under accurately,) can it be judicious in 1832 to throw and not exceeding thirty cents the square yard, out of consideration interests ten times as great? is seven cents and one-half; on those over that I speak not now of the amount of revenue; value, eight and three fourth-cents. What is that shall be thought of presently. the rate provided by the bill? The duty of To see the full operation of the proposed re- 1816, which was five cents per yard? NTo, sir. duction, it is all-important that we should bear But to bring down the duty to twenty per cent. in mind what the duties have been on the ad valoremn, abolishing the minimum that was various articles to be affected by it. I ask the adopted in that year, which will leave you members of this committee to recur to the leg- about one-fourth the present duty. On articles islation on this subject, and contrast the various costing ten cents the square yard, two cents is enactments with the bill submitted. By the law charged; on those of the value of eight cents, of 1816, you imposed a duty on woollen manu- one cent and six mills; and on those priced at factures generally of twenty-five per cent. until six cents, one cent and two mills. The finest the 30th June, 1819, and afterwards of twenty will not cost in England, above sixteen cents; per cent.; by that of 1824, a duty of thirty per and as the coarsest are most used, the probacent. until 1825, and subsequently thirty-three ble average value will be about ten cents, and and one-third per cent.; by the provisions of the whole range of duty about two cents the 1828, forty-five per cent. on cloths under four square yard. Those manufactures which you dollars in price, and fifty per cent. on all ex- have invited into existence, and reared in a hotceeding that value; and the law of 1832 im- bed if you please, you now seem disposed to posed fifty per cent. ad valorem, and abolished, abandon to their fate. Is this, can it be, right? on this article, the system of minimums. It At the last session, as an inducement to the will be seen, at once, that the measure now passage of the pending bill, it was said it would under debate, reaches by a single bound, the give permanency to the system; and, to my regulation adopted seventeen years ago; for I own knowledge, some gentlemen then, and not regard as of no consequence the retention of until then, regarded the policy of the Governforty per cent. until March, 1834, and of thirty mnent as settled, and embarked their means in per cent. until 1835. You had as well seal this species of property. their fate at once. It is like the gradual ex- The honorable chairman of the Committee of tinction of human life, and, on a level of kind- Ways and Means (Mr. VERPLAINCi) informed ness, with the lopping off a man's legs and this committee that this bill was framed, with arms before you strike a vital part. How are the view to the production of eleven millions hundreds of millions to be arranged in two of dollars from customs, and that the foundayears to prevent the crash which the provision tion of his calculation was the importation of seems to admit must follow if the change were last year. I do not think any just calculations immediate? On cottons, the change is still can be made upon the imports of any one year, more to be regretted; for it will be soon per- more than that an increase of duty, judging ceived that it sweeps from under their feet the from experience, is followed by an increase of ground upon which those concerned stood in revenue; though I believe that an increase of 1816, and leaves them in an infinitely worse imports will be the consequence of a diminution situation. By the law of that year, foreign of duty, and that the revenue will be enlarged, cottons paid twenty-five per cent. for three instead of lessened. The Europeans who find years, with a provision that if they cost less a market in this country, are so situated that than twenty-five cents per yard, they were to they must export, to a certain extent, under be rated as worth that sum, and afterwards a almost any circumstances-less, however, when duty of twenty per cent. By the regulation of the duties are high-and the increased quantity, 1824, they were charged with a duty of twenty- at the lowest rate, will often pour more money five per cent. with an increased minimum, into the treasury than when the duties are from which the enactment of the last session higher. And I believe it is morally certain did not materially vary, and the law of 1828 that it will always do it, so long as you vibrate did not touch cottons. I request gentlemen to between two medium points; say, in reference look for a moment seriously at the change they to the present inquiry, between twenty and are about to effect, and inquire if they have forty per cent. It is true, you may reach a examined narrowly into the certainly destruc- point so low, that more than a certain amount tive consequences which must follow if this of revenue cannot be raised, or so high as to project be consummated. You have, heretofore, amount to a prohibition; and either way you deemed a certain degree of protection neces- will not be burdened by money. I dread the sary, not to the profitable and thrifty condition disclosure of the fact, which the operation of this of your cotton manufactures, but to their exist- bill, if enacted into a law, will probably make, ence; and of that duty so deemed by the very that the revenue is larger, instead of smaller; body I am addressing, and so deemed not six and then will come the necessity, as it will be

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Title: Abridgment of the Debates of Congress, from 1789 to 1856.
Author: United States. Congress.
Canvas: Page 137
Publication: New York, [etc.]: D. Appleton and company [etc.]; 1857-61.
Subject terms: United States -- Politics and government

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Abridgment of the Debates of Congress, from 1789 to 1856.

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