Special Report on the Customs-Tariff Legislation of the United States; With Appendixes (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1872 Excerpt: ... I hold it to be so, that these are the strongest reasons, both political and financial, for our resorting to some measure to diminish the revenues from customs, to diminish the surplus which is accumulating in our Treasury, I may say there never was a period when it could be done with greater safety to all those interests which have been heretofore considered as protected by the operation of our revenue laws. Becanse it is evident that the rate of profit of production is rising all over the world. I affirm that rate to be rising, because, with the acknowledged fact before ns of a great increase of money, the rate of interest is constantly rising, all the world over, which could not be but for an increase in the rate of.profit, which canses a demand for money greater than the supply, great as that is growing to be. We are living in that regard in a remarkable period of the history of the world. Surely, then, this must be a safe period at which to make some reduction in tJae duties. It is safe for all the interests that are concerned. It is not only eminently desirable for the consumer, but it is safe for those great branches of productive industry which have grown up, as they suppose, under the shadow of protective legislation. The question then arises, in what way is this to bo done? It seems, by general consent to have been thought, and in that I concur, that the only plan of molding a measure which may pass would be to take the tariff of 1846, and modify its schedules--not that the tariff of 1846 was a perfect measure, yet it performed a great office in its day, but interests and investments have grown up under it, and it is our duty so to proceed in modifying it as to respect those interests, and, provided we can make a sensible step in the right direct...