Brought forward .... Amount which they received from the public lands more than can be received by the present, as I have stated..... Making in all......... 49,227,000 current four years to show that we cannot estimate the probable amount. 17,726,000 $66,953,000 All of which has been received and expended during the past administration; and that too from sources from which the present administration has nothing to expect. This is equal to $16,738,000 for each year of that administration. In other words, had they come into power with no other means or resources than what the present administration has-assuming that the land bill becomes a law-they would have left the Treasury empty, and incurred a national debt of $66,953,000. Comment upon this state of things is unnecessary. It is clear that the administration cannot go on so. Something must be done to replenish an exhausted Treasury and to maintain the good faith of the government. I shall not assume to say what the amount of deficit in the Treasury will be, but the bare statement of the case shows that it must necessarily be very large. It calls loudly upon us for retrenchment and reform-not that retrenchment that is heard in strong professions before election and is never heard of afterwards, but for thorough practical retrenchment, by which every unnecessary office shall be abolished, and every salary that is too high cut down, and a system of rigid economy and accountability in the expenditures of the public money adopted. I hope my friend from Virginia (Mr. Gilmer) will, by the investigations of his Select Committee, show us how much money may be saved. But all this is a work of time. Investigations must first be had, and then laws passed, before any of these retrenchments can be realized. In the meantime our expenses are accruing, and we have no means of meeting them. We must look these things in the face. We must meet this crisis as best we can. No matter by whom the governmental machine has been permitted to get out of repair and run down, it is now in our charge, and we are bound to repair it, and set it in motion. On us, whether friends or foes to the present administration, rests this responsibility, and we cannot absolve ourselves from it. Our country's honor is involved, and I have no apprehensions that my constituents will not cheerfully and promptly meet any additional demands which it may be necessary to make upon their means to supply the wants of this government when it is economically administered; and when they think it is not, they will turn out the unfaithful stewards and put more trust-worthy ones in their places. But they will pay the honest creditor of the government, even though the steward may have proved unworthy of his trust. And I claim no more patriotism or magnanimity for my constitu. ents in this matter than I am willing to grant to those of every other member upon this floor. But, before I pass from this subject, I beg leave to say, that, in making up our minds as to the amount of additional revenue that may be wanted to meet the probable demands upon the Treasury for the four current years, while we flatter ourselves with the retrenchments we may effect, not only in the few expenditures to which I have alluded, but possibly by putting an end to that most inglorious, unfortunate, and ruinous of all wars-I mean that with the Florida Indians -yet it must also be borne in mind that we have to provide for the debt incurred during the last four years, and that the practice has been for several years past to stave off all private claims without much regard to their merit, many of which are doubtless just and should be paid, and that several of the States, particularly Maine, Georgia, Alabama and Louisiana, have large claims accruing under the past administration, which, if just and legal, must be paid, independent of the nameless and numberless unliquidated claims growing out of the Florida war and the removal of the Indians, many of which are doubtless just and must be paid. I barely mention these among the numerous demands that may be made upon the Treasury of an extraordinary character during the But the next question is. How is this deficit to be sup plied, whether you call it $16,000,000 or $18,000,000 per year, more or less? It is clear there must be a large deficit that must be supplied from some source, and I know of but three modes in which it can be done. 1st. You may borrow. 2d. You may lay a direct tax upon the property of the country. Or, 3d. You may lay a duty upon goods now imported free, and upon those bearing a less duty than 20 per cent.— equal to 20 per cent.-and in that way supply the wants of the Treasury to the extent of those means. I shall enter into no argument to show that we ought not to depend on borrowing to supply the ordinary wants of the Treasury. We have tried that, more or less, for the last four years, and have finally funded the debt with a view of paying it off during the current four years. A public debt is justly odious to the people of this country, and I am unwilling to see it increased except from absolute necessity. The next mode is by a direct tax. The gentleman from South Carolina, (Mr. Rhett,) and my colleague from New York (Mr. McKeon,) spoke in favor of this mode of supplying the Treasury a day or two since; but I apprehend there are very few members on this floor who would advocate that doctrine. [Here Mr. McKeon rose to explain, but as Mr. F.'s hour was nearly exhausted, he declined yielding the floor.] I shall be happy to hear that I have mistaken my colleague. Let those who prefer direct taxation to indirect by customs, look at England, where they both prevail, and see the picture of inquisitorial intrusion and official insolence and violence to which their excise system naturally leads, and I think he will prefer duties to excise or direct taxation. The only remaining mode is by duties as proposed in this bill; and this brings me to speak directly upon the merits of the measure itself. I beg leave to call the attention of the committee to the views entertained by the present Secretary of the Treasury on this subject. They will be found in Document No. 2 of this House, usually called the "Finance Report," at page 6, where, after speaking of the embarrassments of the Treasury and the public debt already accrued, and the constant increase of both, he says: 46 But as it may not comport with the views of Congress to go into a revision and adjustment of the customs so long before the act of March 2, 1833, comes to have its final and permanent operation, the undersigned would respectfully recommend, as a temporary measure, the levy of a duty of 20 per cent. ad valorem on all articles which are now free of duty, or which pay a less duty than 20 per cent, except gold and silver, and the articles specifically enumerated in the 5th section of the act of March 2, 1833. "If this measure be adopted, it is estimated that there will be received into the Treasury from customs, in the last quarter of the present year, about $5,300,000; in all of the year 1842, about $22,500,000; and in the year 1843, after the final reduction under the act of March 2, 1833, about $20,800,000. The details of the estimate will be found in the accompanying paper, marked E, and enclosures." These are the views of the present Secretary, Mr. Ewing, and the Committee of Ways and Means have, in the main, concurred in them, and the bill under consideration is intended to carry them out. But the members of this House, on a measure of so much importance, may desire to know what were the views of the late Secretary of the Treasury on this subject. I am happy to have it in my power to gratify them in this respect. Mr. Woodbury, the late Secretary of the Treasury, made a report to the Senate on this subject, dated January 18, 1841, which is No. 93 of Senate Documents, 2d session of the 26th Congress, and to which I invite the special attention of every member of this Committee that he may see how well these two Secretaries agree on this subject. Indeed, I cannot well see how they could disagree, for both knew the exhausted state of the Treasury, and no rational man could doubt as to the mode of replenishing it. The only chance of difference among statesmen and financiers must be as to the particular articles that should be selected from the free list on which to impose duties. Mr. Woodbury gives what he calls a list of all free articles, and then says a duty of 15 per cent. on them would raise the required amount, but thinks it objectionable, and finally says, at page 6 "Another mode of raising the same amount of revenue would therefore be preferable, if it could be accomplished without including those articles. Suppose, then, that there should be selected from the free articles those which may be regarded most as luxuries, though not in every respect belonging exclusively to that class: such are tea, coffee, and silks: should we then add to them others, conflicting with similar American productions, such as worsteds, linens, &c. and the aggregate deducting the amount re-exported would be $29,026,448. [See the second table B.] A duty of 20 per cent. on those, after paying the expenses of collection, would yield about the same amount of five millions. This seems to contain the general data for the most eligible and unexceptionable revision." I will now read you this table "B," (which may be found at page 10 of that report,) containing the articles on which he recommends the duty of 20 per cent. to be levied. It is in words and figures as follows: No. 1. [AUGUST, $7,897,343 1,520,154 3,878,941 Linens, bleached, &c. 3,098,557 Ticklenburgs, &c. 333,024 Sheetings 148,554 Bolting cloths 26,528 Wool under 8 cents per lb. 438,669 Crude saltpetre 119,606 Animals (not for breed) 150,219 Furs, (undressed) 300,045 Coffee Tea Copper, in pigs Sheeting 7,138,010 2,559,246 812,170 526,792 Old 78,590 $29,026,448 Thus you have the plan of the late Secretary of the Treasury, Mr. Woodbury, for the revision of the tariff, in order to supply the deficiency in the Treasury, which he has styled the most eligible and unexceptionable revision." [Here the hour having expired, Mr. F. was cut short in his remarks, but at the request of several gentlemen he has added what he had intended to say.] I now call the attention of the Committee to so much of tables Nos. 1, 2, 3 and 4, in House Document No. 31 of this session, as is necessary to show the articles upon which the proposed bill will operate, and the probable amount of duties to be raised thereby. The tables explain themselves, and are arranged in this manner, because, as I am informed, this is the mode in which the accounts are kept at the Treasury. The first table gives those articles now free that usually pay an ad valorem duty. The second, those now free that usually pay a specific duty, with the estimate of a specific duty equal to the ad valorem duty.The third, those wines that now pay a specific duty, with the increased revenue that would arise from an ad valorem duty of 20 per cent, and a specific duty per gallon equal to such ad valorem duty. And the fourth gives a list of those articles that now pay a less duty than 20 per cent. ad valorem, which, under this bill, will be raised to that amount. These tables have been prepared at the Treasury Department by order of the Committee of Ways and Means, and are presumed to be correct, and so much of them as is necessary to illustrate this subject I here give: No. 3.-Statement exhibiting the quantity and value of wines imported during the year ending 30th September, 1840, the amount of duty which accrued on the same at the rates now payable, and the amount of duty which would accrue on similar importations at the ad valorem rate herein specified, all of which will be dutiable under the proposed bill. T. L. SMITH, Register. TREASURY DEPARTMENT, Register's Office, June 22, 1841. No. 4.—A statement exhibiting the value of articles subject to a duty of less than 20 per cent. ad valorem, imported in 1840, which, under the proposed bill, will pay a duty of 20 per cent. Difference of 463 05 96,366 60 8,391 00 569 60 93,685 00 123,144 60 227 84 35,131 87 30,786 15 901 15 135 15 180 20 Hair cloth and hair-seating.. Copper bottoms for stills, &c. cut round, &c. 59,555 15 8,933 25 11,911 00 Quills, prepared.. 45 05 2,977 75 530 45 1,070 85 17,567 62 118 10 17,359 50 48,716 05 $797,203 80 $307,224 03 And an additional duty on those in No. 3, of And it makes a total of ............................ .$18,776,000 Being about $9,000,000 less than the annual average expenditures for the last four years. But the Secretary estimates the nett revenue under this bill, after 1842, at $20,890,000. His estimate may be found in House Document No. 2, of this session, at page 20, and is as follows: Estimate of the amount which will be received from customs in the last quarter of the year 1841, and in each of the two succeeding years, under the proposed modification of the revenue laws. Being nearly $8,000,000 less than the annual average expenditures for the last four years. Thus we see by these tables that, according to the importations of 1840, we shall raise annually on the articles mentioned in the first table, in round numbers .$1,785,000 I cannot now enter into the reasons for or against the seOn those in No. 2.... 3,230,000 lected articles for the imposition of duties. Though all would 245,000 agree in the propriety of some discrimination, no two would 307,000 perhaps think alike as to every article. No uniform rule can be established on this subject. Every case must stand or .$8,567,000 fall upon its own merits; and what might be very proper at one time might be equally improper at another. I doubt not some will be for including many articles which are exempt, and others will be for exempting many articles that are included. The committee were not unanimous on these subjects, and it cannot be expected the House will be. I anticipate a motion to exempt tea and coffee, and I will say one word on that subject. Tea and coffee are hardly necessaries; they rather belong to the class of luxuries. So Mr. Woodbury considered them, and therefore recommended them for taxation. We can hardly justify ourselves in taxing the necessary food and clothing of the poor man, both of which are indispensable to sustain life, and still exempt tea and coffee. Let us also consider that the duties on these articles, by the proposed bill, is so light that those who luxuriate over a good cup of tea or coffee will never know it.— It will be seen, by table No. 2, that a duty of twenty per cent. on tea is less, on an average, than five and a half cents per pound; whereas, by the act of 1816, the duty ranged 137,000,000 from twelve to sixty-eight cents per pound. And on coffee it is less than two cents per pound; but, by the act of 1816, it was five cents. These are duties that will never be felt 140,000,000 by the consumer. Were he not told of it, he would never know it. Again: if you exempt those articles, you cannot raise means enough to carry on the government. They will be quite inadequate, I fear, with them in; and by subtracting them you take away near three million dollars, and all most one-third of the whole amount proposed to be raised. In Great Britain, where about $100,000,000 is annually 125,700,000 raised from duties, more than one half of this enormous sum is raised on three articles-tea, sugar, and tobacco-neither of which is produced in Great Britain. It appears, also, that we consume more than five times as much coffee, per head, 25,140,000 as the inhabitants of that country. But I have not time to dwell upon it. The average value of the imports for the last The average annual value of the imports for The articles proposed to be admitted free of duty are estimated at..... Which makes the average es. timated amount of dutiable articles.... Which at 20 per cent. would yield an annual gross revenue of..... $14,300,000 Estimated deduction for draw $144,000,000 Nett revenue at 20 per cent. 20,890,000 The difference is mainly caused by his estimating upon the average amount of importations for the last seven years, which, it will be perceived by reference to the same page of that document, is $141,476,000; whereas these tables are based upon the importations of 1840, in which year the whole amount of imports was only $107,141,000, being near 25 per cent. less than the average amount. But it is doubtful whether the Secretary has allowed enough for drawbacks and expenses of collection. It is less, by more than $400,000, than the average amount which has been paid for the last six years. Probably the fairest estimate, from all the information before us, is this: Gross amount of duties on dutiable articles, at 20 per cent. under the Compromise Act. Gross amount by this act, as estimated in the four tables...$8,567,000 Add to that one quarter, or 25 per cent.. 2,142,000 And it makes a total of.... From which deduct average annual drawbacks and expenditures, &c. for last six years..... And it leaves a nett annual revenue of . I have a few words to say as to the form of the bill.— Contrary to our tariff laws heretofore passed, it names the articles excepted from duty instead of those on which the duty is imposed. This would be impossible when specific 4,250,000 duties are imposed, and can only be done when the duties are ad valorem. It is done in this case to prevent fraud.Experience has shown that where you name the articles on which duties are laid, there is a constant effort on the part of the foreign manufacturer to invent some new article and give it a new name, that can be imported free, and which may come in as a substitute for the dutiable article. This bill takes away all temptation to commit that fraud, for the article, unless excepted in the free list, must pay a duty. I have one word to say as to the necessity of immediate action. If we do not act now, but postpone this indispensa ble revenue measure until the next session, and then mingle it up with the tariff, it is not at all probable it will become a law until a year from this time. A whole year will thus be lost, which is of vast importance where the fruits of a measure are so slow in coming to maturity, and the demand is so pressing. Nothing can be realized under this act after it takes effect short of three months, and half of it not short of six; and on teas, one of the most important articles, a year's credit may be given. I deem it, therefore, indispensable, unless we would disgrace the country and the administration, that this act should be passed at this session, that an exhausted treasury may derive some benefit from it next winter and 10,709,000 spring, and not suffer it to be postponed a year longer. I beg leave to say, in conclusion, that I hope this revenue 24,659,000 measure will not be mingled up with questions of protection, home valuations, and cash duties. I hope all those important but perplexing questions will be postponed to the next ses4,672,000 sion, when we shall have more time and more information, and may be in a better situation to dispose of them properly 19,987,000 for the interest of all concerned.-[National Intelligencer. $13,950,000 [Continued from page 63.] Iron Ores. ore smelted, but the pure ore contains 69.04 per cent. of iron, as will be seen by the following analysis: 100 grains of the granular magnetic iron ore of Lisbon iron mine contain 96.20 2.30 1.50 100.00 Iron holds the first rank among the useful metals, and is essential to civilized man, for most of the arts are dependent upon it for the supply of instruments which are absolutely necessary for their prosecution. Civilized man alone makes use of iron, and to that metal he in a great degree owes his superiority over the savage. Science and skill in the arts, and a fixed abode, are essential to its manufacture, and therefore it never has been reduced from its ores by any but civilized people. Its magnetic properties guided the skilful navigator across the ocean, and enabled European civilization to extend itself to this continent. Arms manufactured from it enabled the first settlers to withstand the inroads of barbarians, while the more peaceful implements, the axe and the plough, constructed also of this metal, enabled the colonists to subdue the forest and to cultivate the soil. Steel is but a modification of iron, prepared by the introduction of a small proportion of carbon of charcoal. Cast iron is a coarser combination of iron with carbon, often accompanied also by some impurities, such as the bases of silex, alumina, and occasionally a little phosphorus or sulphur. Wrought or bar iron is nearly free from these impurities, and is in a great measure deprived of its carbon by the processes of manufacture. The ores of iron which can be profitably manufactured are the oxides of the metal. Those usually employed are the magnetic iron ore, consisting of a combination of the prot-oxide of iron with the per-oxide, in the proportions of Prot-oxide of iron, Per-oxide of iron, 312 containing oxygen = 28.215 69 S Iron 71.784 The ores of this class are black, give a black powder when pulverized, which is strongly attracted by the magnet. Its specific gravity varies from 4.74 to 5.09, according to its purity and compactness. It occurs crystallized in the form of the primary octahedron, and in its secondary form the rhombic dodecahedron: also in laminæ, and in grains more or less rounded, and in compact masses. The superficial portions of a vein of magnetic iron ore always possess strong polarity, in directions coinciding with the magnetic meridian of the place. This kind of iron is very abundant in New Hampshire, and in many places may be economically wrought for iron. The Franconia Works make use of the granular magnetic iron ore exclusively, and a very tough and excellent iron is made from it. Prot and per-oxide of iron,. 96.20 per cent. of the above oxides contain 69.04 per cent. of metallic iron. Capt. Putnam, the agent of the Franconia Iron Works, kindly furnished me with all the statistical information which was desired. The New Hampshire Iron Manufacturing Company was incorporated in June, 1805, when a forge was erected and bar iron was made. In 1811 a blast furnace was erected, which has been kept in operation since that time, and produces from 250 to 500 tons of excellent cast iron per annum. This is partly sold in the form of castings, and a part is converted into bar iron in the forges. From 100 to 140 tons of bar iron are made per annum. The furnace is kept in blast from 16 to 26 weeks at a time. The stack of the furnace was built of granite, and it is lined with mica slate, which is found in the vicinity. The hearth-stones are made of Landaff quartz rock. From two to three hundred thousand bushels of charcoal are consumed per annum. The average product of cast iron is 60 per cent. on theme by the agent: 1838. To 109,709 Bushels Coal, July 1, " 21,940 added for wasted and dirt, Blast Furnace, Winter, Spring and Summer of 1838. Cr. 97 31 8 00 2,297 97 66 |