E(&IRAP
H
A
VOL. XI -No 4.
PHILADELPHIA, TUESDAY, JANUAKY 5, 1869.
DOUBLE SHEETTHREE CENTS.
BENIN(G
JiiciJLd
FIRST EDITION
THE REVENUE.
Report of Special Commis
sioner, Hon. David A.
"Wells, to tho Secretary
cf tho Treasury.
The Income of tho Government
Where it is Derived from-Mis-tales
in Congressional Legislation-!
he Financial
and Tariff Qocstions
Their Speedy Set
tlement Re
quired. An. lulci'VHtin Dociunout.
The Eestoration of National Credit
and Resumption of Specie Pay
mentThe Protective Policy
and Marmfactur.s,
Washington. Jan. 5. The report of the Spe
cial Commissioner of Revenue, lion. David A.
Wei 1b, addressed to the Secretary of the Trea
enry, was laid before tbe House to day.
The re alia ot a somewhat extended invest.-
Eatlon are presented, uot with a view of esta
Usblng or continuing any particular tueory,
bot rather of determining,' througn the colleo
ttou ol positive dit.a, what policy iu legislation
in UKely to prove hereufter most, advantageous
to lb revenue, aud most certain to eslaollsh
tbe credit and Industry of the whole country
'upon a sound and substantial buss.
Tbe first step or starting-point of the Inquiry
is tbe preseut roudiilon ot the caoltal aud in
OUhtry of tbe United Htates:
Xbe facts which constitute an answer to this
question are to a considerable degree oan l radio
lory and paradoxical. On the one uand mere is
much that Indicate that tbe count ry lu rapidly
recovering from tbe t fleets of tbe war, and
returning that wonderful career of progress
aud development wnlcn especially charac
terized lis history during the period embraoed
Id the thirteen years from 1817 to i860. On the
other haDd, there is anot tier class ot tacts which
s 'juiis!aKRbly lnu lea te ihe exlatenoa of
agencies which tend to arrest or obstruct
national development, and which foster specu
lation, idleness, extravagance of living, disoon
tent with moderate and slow gains, haste to be
rich, and the spirit of trading as distinguished
firm tbe spirit ot production.
It Is proposed, in the first instance, to briefly
tale ihe evidence in support of tbe first propo
sition. This evidence bus been presented In
great part already by tbe CoramUlouer lu his
two previous reports, but a recapitulation of
tbe leading elements of national wealth, on
Which the national oredlt reposes, can never be
considered as untimely, so lung as a distrust of
the resources of the nation la 7r my purpose
fostered and encouraged particularly by per
sons holding otllcUl or other puoilo stations.
This evidence uiuy be grouped as follow:
- First Immigration. From tne 1st of July,
1805. to tnc 1st of December, 1808, about 1,000 000
native ol foreign countries have sought a per
xnanent borne in the United States. Investiga
tions made some years aio (and the oh trainer
of the Immigration has since greatly Improved)
bowed that tbese Immigrants brUig wlta them
specie or its equivalent to tbe average amount
of eighty dollars per heed; while their average
value to the country as producers cannot be
etlimaled at less tbau ball the average value of
an ordinary laborer lu tue Koutli prior to tbe
war, vis: 81000 each. Immigration, then, Blnce
the termination of tha war, may oe regarded as
having added 80.000 OOOdlreotly, and $500 000,000
indirectly, to the wealth and resources of tue
country,
r-conoly A general increase in the products
of domesiio Industry. The Commissioner Is
fully aware of ibe difficulties attendant upon
" the determination of estimates iu this depart
ment; prices, with the preseut irredeemable,
fluctuating currency, being woolly valueless as
a measure, while a statement of quantities, to
be strictly 'accurate, must be considered not
only with reference to quality, but also to the
normal increusein production, which under all
oiicUDistances accompanies an inorease of
populutlou. Neveitueless, the wealth of the
country is its capacity tor anuual production:
aid an analysis of ibis produot.'on is the
soitst, and at present tne only, available
method of testing ibat wealth.
Hi easing generally, however, In the first
Instance, tne ooramlssloneraserts that all the
available data tend to establish tne following
conclusions, viz.: That within tue last five
years more eoitou spindles have been put la
operation, more iron furnaces erected, more
lion swelled, mure bars rolled, nvire steel
made, more eoal and copper mined, more lum
ber sawed and hewn, more houses and shops
constructed, more manufactories of different
kinds started, and more petroleum collected,
refined, and exported, than during any equal
period in the history of the countiy;aud tut
this inorease has been greater both as regards
quality and quantity, and greater than tbe
legitimate Increase to be expeoted from ihe
liOrmal increase of wealth and pooulutlon.
besides this genejal statement, the Commis
sioner adduces much speclUo evidence on cot
ton manufacture, pig iron production, oopper,
petroleum, coal, lake tonnage, bio. lie next
bows the continued Increase in tbe agrloul
taral produce of the United Slates, wnether
measured by quantity or value.
Under the bead of railway extension and
movement, it appears that during ihe ten
years from 1858 to 1868, the lncreise of tonnage
moved on tbe roads has been at a rate of six
teen times greater than the ratio of the in
crease or population.
In dlsousslng tbe agencies concerned In
national development, he says that all investi
gation dearly shows them to have been mainly
two, namely, first, great natural resources in
respect to abundant and fertile territory, great
aatural facilities for Intercommunication,
abundant and cheap rawmaterial.anddlverslly
wilfeout Insalubrity of climate; aud secondly, a
for and spirit of government which hereto
fore) has left man and capital, over an area
almost, continental, free aud unrestrained to
work out their own development. Blnce 1810,
especially, other agencies have come in as
powerful adjuncts, vise., a continued influx of
- population and capital from tbe Old World; a
coatlnued Invention and application of labor
saving machinery, and a most rapid extension
of tbe railway sy atem; wbloh last, by giving a
market to all tbe pro loots of our uatloual
domain, has greatly stimulated the spirit of
indus: sod enterprise. With these, also.
sbouid undoubtedly be included the purohase
of California and the discovery of gold on the
pacific
As respects the relation of legislation by the
National Government to the results under
consideration, If we except the adoption of a
liberal policy in tbe disposition of tbe publlo
lands, it is difficult, at least for the period
which has elapsed between 1810 and 1800, to
affirm much that is positive, unless, In con
formity with tbe maxim that tbat government
li best which governs least, absence of legisla
tion is to be regarded in tbe light of a positive
good. If important results followed the accinl
iilion of California, such results were certainly
neither foreseen nor anticipated; while as re-
funis commercial legislation, a review of all
be facts cannot fail to suggest a doubt whether
tbe evils which have resulted from instability
pve not far more tbaa counterbalanced any
advantage that may have proceeded from the
arperieuoe of a fluctuating poiloy.
Tbe Commissioner is well aware that this
opinion will not be readily accepted by those
uo have been educated to believe tbat the in
dnstrlal and commercial prosperity of the
country wasserlon-ly affected by the legislation
which took place during the years which
lapsed from mi to U.0. Bat upon lull point
all investigation shows that tbe facts are en
'.rily contrary to what may be regarded its
tbe popular belief, whloh, Indeed, In this parti
cular, would appear to be based on little else
than mere assertions, which, remaining for a
longtime unquestioned, have at last aoqulrad
the force of aooepted blsiorlcnl truth. Tims, fur
example, it has been constantly asserted, b'th
in Congress and out or Congress, that tbe pro
duction of pig Iron was remarkably stimulated
m der the tariff of 1842 rising from 220.000 tons
in 1842 to 800,000 tons in 1818 and that nnder
the tariff of 1816 the same Industry was remark
ably depressed. Now, these assertions may be
correct, but tbe most reliable statistics to
which we have access, vlr, : those gathered by
tbe American Iron Association, instruct us as
follows
Production ot plir-lron In 1830, KVi.OOO tons; In
18-10, 347,000 tons. Increase In ten years, 110 per
tent.
Production In 1815. 486,000 tons; Increase In
Sytars, 40 perceu'.
Piodnctlonlu 1830, 661,000 tons; Increase In 10
yer re, 62 per cent.
Pi ootid Ion in 1855, 754.C0O tout; increase in 6
3 esrs, 1)3 per CDt.
Production in 1800,913,000 tone; Increase In lo
ytara, fll per cent.
It thus appears tbat the great annus! In.
rrease in the production of big Iron took place
prior to the year 1840, and for thirty years was
remarkably uniform at the rate of 10 to 11 per
cent per annum; and thai since theu, no mat
ter what has beeu ihe character of tbe legisla
tion, whether tbe tarllT was low or high,
w hether the condition of the con ntry was one
of war or pence, the luorea-e of the production
bus been at tbe average of about 6 p-r cent, per
urtuum, or about double the ratio of the in
crease of population.
Tbe Commissioner gives "another ctirlou
Illustration" of an apparent misoonceptloi of
t he efleoti. of past legislation upon thedevelop.
mem of theoountry; and then say: Tnere
di es not svem to be any reliable evidence which
cn be adduced to show thai the change which
took pltcein the legislative commercial policy
cf ti e country In 1840 hud any permanent or
morked effect whatever; while, oi the other
hand, the study of all the tacts pertaining to
national development from 1840 to I860, and
Irom 18(6 to the present lime, unmistakably
leaches this lesson; tbat the progress of the
country inrougn wnat we may terra tue
strength of Its elements of vitality Is indepen
dent of legislation and even olThe impoverish
ment and waste of a great war. Like one of
mr own mighty rivers, its movement is be
j ond control. Buceesslve years, like successive
Mllutnts, only add to and Increase its volume;
while legislative enactments and conflicting
commercial poilolss, like tbe construction of
pleis and the deposit of sunken wrecks, simply
dtflecl tbe ennent or constitute temporary ob
structions. In fact, if the nation has not yet
been llfttd to tbe full comprehension of its
own work, It builds determinated, as it were,
ly Instinct."
The Commissioner next proceeds to show
"the effect of the war in checking national
development," and passes to "the agencies
advene to the national development." As to
the latter be says.
Tbe immediate cause of the anomalous con
dition ot aflairs in question must noqanstloaa
Lily be referred to tne greatly Increased cost of
nearly all forms of labor and commodities as
compared with the prise for the same that
prevailed In the decade Immediately preceding
the war; while these in turn must be regarded
as the resultant mainly of three agencies grow
ing out of the war, vie : irredeemable paper
currency, unequal and heavy taxation, and a
limited supply of skilled labor, the last raanl
f. sting itself at the present time in specialties
ratber than in general.
Influence of an Irreileemable Paper Currency.
As the specific influence of the first agency has
Leen of late so olten and so thorouguly dis
cussed, the Commissioner will only ask atten
tion, nnder this bead, to a few points of pre
sumed novelty or interest; and, first, to a
specific statement of actual experience, Illus
trative of tbe mannerln which an irredeemable
paper currency, or, what la the same thing, a
national abnegation of specie payments, una
voidably tends to destroy all profitable com
mercial relations with foreign countries in
which trade and industry Is conduoted on a
specie basis. Tbe statement is furnished to tne
Commissioner by a manufacturer of furniture
in one of tbe Middle States, who, previous to
the war, bad built up au exteusive export busi
ness to tbe We Bt Indies, Central and Houtu,
America, of a variety of "cane-seated" and
' cane-backed" furniture suited to warm cli-
Thus, cn the 1st of March, 18CI, gold and cur
rency being at par. 1000 in gold possessed a
purchasing rower sufficient to obtain for the
South American importer 111 1-9 doaen ot what
are termed lu the trade "ordinary square post
cnne-seal chairs." About the 1st of January,
18(12, gold began to command a premium, aud
advanced during the next three years wlta
great rapidity. This movement was not,
however, participated in at first, to any
considerable extent, by either labor or c m
modities, and in consequence the purchasing
power oi gold greatly increased; somuohsothal
inlbelsiot July, 1861, the 1000 gold which In
1S61 bought 111 1-9 dozen chairs, then bougtn 143
dozen. Under these circumstances, as was ta
be expected, trade increased, as the foreign
purchaser found the American market by far
the best for bis interest; but from July, 18di, a
movement commenced in an exactly ODpusite
olrecllon, go.d receding and labor aud commo
dities advancing in very unequal ratios. Thus
In January, 18uo, tbe 11000 gold wblcb four
years previous bad a purcuaslng power of
111 1-9 dozen cbalrs, and on tbe 1st of July.
1864, of 143 dozeu, then commanded but 12fj i 3
dozen: In February, 1866, a still small number,
viz: 811$ dozen, and ultimately attained Us
minimum in January, 1867, when Ihe pur
chasing power of tbe sum named was ouly
MI2-3 uczoo. From this point the purchasing
power has gradually increased, and for tbe
just year, 1808, has remained at the rale of
about 102 dozen, or nine dozen less thauootlld
be bought with ibe same money in 1861,
Tbe result bos been that the foreign pur
chaser now goes to Kranoe or Uermany; wolle
the products of American industry, in the form
of furniture, being no longer available to ex
change for sugars, sploes, or dye-woods, gold
bos necessarily been substituted; and, lo use
the words of the manufacturer describing his
condition, -'unless there is a speedy re1 urn to
specie payments, custom will soon so fix the
channels and currents of trade that any at
lemptf on my part to divert them will be
attended with great difficulty;" and what has
thus been shown to be tbe case in respnet to
the export trade of the United Htates lu furni
ture, may be accepted as true of almost every
oiber manufactured pioducl, wbloh, as a na
tion, we were accustomed, previous to the war,
to exchange for foreign commodities.
Tbe Commissioner gives tbe "relative amount
of currency in UBeand required In tbe (Jotted
States, Great Britain, and France," and a "com
parison of prices of labor and commodities In
1860-61 aud 1867 68" He sys -the purchasing
power of the irredeemable paper money now lu
use is not nearly equal to what li was In the
immediate ante-war years of 1860-61;" and that
tbe wot king men and women of the oountry do
not now teoelve as much in return for their
labor as before the war. The theory of Incon
vertible paper money is, and the facts prove it,
tbat Uie rich become richer and the poor
poorer. In addition, however, to an Inconverti
ble paper currenoy, there are other agencies
wblcb are powerfully operating to the produc
tion of a like result, and the consideration of
these brings us to a new department of our in
vestigation, vis: The influenoe of taxation,
direct and indirect, upon the cost of domestic
production, and consequently upon the ability
of tbe country lo exchange with foreign na
tions upon terms of equality. Taxation as it
exists In tbe Uulted Htates may be classified
nnder tbree beads:
First. Taxation nnder the internal revenue.
Feoond. Taxation under the tariff.
Third Htate and local taxatlou. .
The Commissioner then proceeds to examine,
In the order enumerated, the present lnflneuoe
of each of these forms of taxation uoon the
cost of production and upon national develop
ment. . . . ,
The Commissioner says the Internal revenue
system of the United Htates, as it now stands,
approximates olosely to tbat which the experi
ence of more than three-quarters or a century
in Great Britain has shown to be capable of
yielding tbe maximum of revenue with the
minimum of disturbance to the wealth produc
ing elements of the country. Tbe ohanges,
apart from those pertaining to administration,
wbloh are required to still lurther perfect the
system, are not numerous, and with tbe termi
nation ol tbe large paymsnta for the equalisa
tion of bounties, and with an eoonomloal ad
ministration of tbe Government, can, undoubt
edly, be made with safety at no distant period.
Tbey mould unquestionably eiubraoe the
taxes now levied upon telegraph
And express companies; npon the
grors receipts of railroads, steamooals, aau
otner common carriers for the transportation
of passengers; and the percentage taxes on the
sales of merchandise; the gross receipts from
all of which Is les than one-half the annual
expenditures during the last two fUcal yer
for the equalization of bounties. Wnen this
bss been accomplished. It may with truth be
claimed that the entire Internal revenue system
has been made wholly suOordinate to the more
Important end or creating national wealth; and
that under 11 no direct onstnole whatever is Im
posed by the Government, which can prevent
the domestic producer from plnclng his pro
duct upon the market at the lowest possible
cost.
In concluding this review of the present in
fluence and condition or the national taxation
nnder the internal revenue, tne Commissioner
la constrained to confess that thus far the
abatement or prices conseqnent npon the large
annual reduction of taxes has not been what
was anticipated, or what the large amount of
revenue abandoned would seem to have wat
ranted. In the case of not a few articles, a pig
Iron, manufactured lumber and salt, tbenrlces
since the removal of taxation have actually ad
vanced, while In other Instances, as in tbe case
of agricultural Implements, sewtng machines,
hoop-skirts, manufactures or silk, newspapers,
i-nd In fact most articles which are the products
ot monopolies created by patents, established
custom, or other circumstances, the repeal or
ibe Internal tax. through the maintenance of
former prices, has been only equivalent to legis
lating a bounty Into the pockets of the pro.
dncer.
The OommiFsloner proceeds to the considera
tion of the influence of national taxation under
ihe tariff on prices and the cost of domestio
production a subject the discussion of which
Is attended with the embarrassment that It In
volves more or prejudice, and of opinion
founded on private self-Interest, than almost
any other which, since the abolition or slavery,
lias occupied tbe attention, of tbe Ame. loan,
people. Notwithstanding this, it is important
to recognize the fa. st that, nnder the existing
financial condition of tbe country, tbe old-time
Iptues between the advocates of free trade
r,n the one bend and protection on the
other have ceased to be or ny real
practical importance Inasmuch as in tbe ar
rangement or a tariff with a view to revenue
the requirements of the Government must
certainly, for the present, necessitate so high
an average of dntles as to afford all that can be
reasonably asked for on the grounds of protec
tion; and with a given requirement, moreover,
for revenue, in excess or what can be derived
from the taxailou nnder the tariff of acknow
ledged luxuries, there would seem to be no
valid objection to distributing the additional
taxation In such manner as to favor those
branches of industry most exposed to foreign
competition.
He next speaks of tbe recognition of the pro
tective eyBlem in Karope, and then asks atten
tion to two other points whloh have been m tde
Ibe subject of investigation, namelj: the direct
t fleet of the tariff on tbe prices of Imports and
the effect of the increase if tariff in check
ing importations. Ue savs: "All experience
and especially the experience of tbe United
Htates within the last three years, shows that
there is a point beyond which duties imposed
on importations cannot be carried without ren
dering them practically Inoperative, Thus,
under tbe existing tariff, the duties on wines,
liquors, and silks have been carried to such a
decree that only so much of these articles are
now Imported as are necessary to meet a popu
lar requirement that no law can prevent from
being satisfied. If carried beyond this point,
tbe requirement or necessity will still be met,
but tbe smuggler and illicit dealer, rather than
the regular importer, will become the agent of
supply; forin no country can evasion of the
excise or customs be carried out more success
fully than in a repuollo where popular opinion
Is both the law-maker and tbe law sustainer.
Ir proofs in support of this position are de
roauded, they are most abundant."
Tbe Commissioner discusses the "relations
of a tariff for revenue and a tariff for protea
tlon," and says "indiscriminate protection is a
characteristic of the existing tariff.' Under the
head of "itesnlt ol existing influences on na
tional development," be remark.:
"All commerce is in the nature of barter or
exchange. Tbe men who bring to us coffee,
sugar, tea, bides, silks, dye-stuffi, aud the like,
are cot the men whose labor or capital has been
directly coucerned in the production of these
articles, but men whose simple and sole busi
ness is to exchange these products at a profit,
lor tbe products of other nations. What the
exchanger desires most to receive Is product in
kind, which he may further exchange else
where, and at the same time realize a profit
botb ways on the agencies employed by him
In the transmission, viz: on his vessels, by
their freight. What he desires least to receive
Is gold or sliver, Inasmuch as the intriusic
value of tbese articles is nearly the same In all
countries, and their movement and transmis
sion, instead or being a source of prollt, is
rather a source of expesse,
"Now the condition of things In the United
States Is just this. We have so raised the coil
of all domestic products that exouange in kind
with all foreign nations is almost impossible.
Tbe majority of what foreign nattons nave to
sell us,.as already shown, we must or will have.
What loreign nations want and we produce
cotton and a tew other articles excepted they
un buy elsewhere cheaper. We are therefore
obliged to pay in no small prt for such foreign
productions as we need or will have, either iu
tne precious metal, or, what is worse, in unduly
depredated 'promises of national paymeut.
And yet there are men who are so far uu tola to
realize this condition of affairs, that they seve
rally desire and honestly think they can
remedy tbe evils in question by measures
wblcb, like the increase of ihe currency, the in
crease or the tariff, or other forms of taxation,
will Inevitably make prices and the cost of
production still higher, and thus aggravate the
very difficulties which are already so serious."
Asa practical Illustration or how the United
htates trades with the Argentine Hepublto, the
Commissioner subjects to analysis "tha com
mercial relations existing between the United
hiates and the Argentine Kepuolio of Boutu
America (Buenos Ay res). The necessity or
trade between tbe two oountrles belongs. In the
first Insianoe, to tbe United Htates, which doei
not afford a supply or domestio hides sutfiutent
to meet more than 68 per oent. of Its domestic
consumption of leather; and has, in addition,
practically no domestio supply whatever of
either goat skins or horse hair. How the
Argentine Republic has these articles especially
to sell and export, and If she is willing to
dispose of them on terms equally advantageous
with other nations, it is not a matter of choloe
on the part of the United Hiates whether she
will trade, but a matter of necessity.
"It is also worth while to diverge for a mo
ment from the dlvcusslou of the immediate
subject under consideration, and see how im
portant Is the relation of this supply of foreign
bides to American domestio industry, and how
good a thing the United Htates makes of It.
The estimated value of all the domestic bides
manufactured In tbe United Htates during the
year 1866, at t5 50 each, was gl9.2o0,000. The esti
mated value of the foreign tides reoelved at
tne principal Atlantic ports t tbe United
Htates during the same year was about 114,
OtlO.OtO (va'ues In both instances being reduoed
lo currenoy with an assumed gold premium of
40 per cent.), making a total of fi3.250.000
as the value of the raw mate
rial bides for the year In question. Now
during this same year there was received In the
oily ol Boston unmanufactured leather of do
mestio tanning to Ibe valae of f 17.403.098; and
there was sold and shipped from the Hlale of
Massaohusetlsalone boots and shoes of an esti
mated value of f55.000,000-totalj 172.463,908,
which large sum represents very Imperfectly,
but yet msst strikingly, tbe extent to whloh
tbe value of tbe bides became enhauoed by the
process or manufacturing, and also the remu
neration whloh, through such eubauoement,
necessarily accrued to labor, inasmuch as the
lnoreseed value In question represents to a
grtater degree than In most manufactures the
amount paid directly to labor,
"As might be inferred from this showing, the
United Htates continues to purcliate hides from
Buenos Ay res, aud continues to add to her
wealth and to the sources of employment for
her people by so doing; but In thus purchasing
we hud that the United States stands on a
different fooling from other commercial
nations; or, in otuer words, has a way of doing
things peculiar to herself, hoi us see how
this Is:
"The Argentina Hepublto, in sending hides,
goat sklus and horse hair to the United Htates,
requires an equivalent. It has uo forests, few
manmactures, and an Insufficient supply or
breadstuff it therefore requires lumber, flour,
textile fabrics, especially coarse ooltons and
calicoes, ready-made clothing, lurnlture,
wagons, hardware, saddlery, paints, paper, etc.,
all products wbloh the United HUtes is capable
if producing In unlimited qnnntlly, and Is
i ilrotiH ol selling. The people of the Argentine
H( public, furthermore, do not desire pay ment
tor these products In tbe precious metals, and
if obliged to receive them must immediately
exchange them lor the above-named commo
dities, which nre absolutely essential to their
existence as a civilized people. Now, as the
United Hiates stands to the Argentine Kepuolio
in t he relation of almost their beet customer,
and as the two nations are further assimilated
through continental position and a common
form of government, and as the former Is capa
ble and desirous of supplying those commodi
ties which the latter especially needs. It might
natnrally be so,)posed that the trade between
tbe two would be reclproosl. The exact con
trary, however, Is the caie. Tbe United Htates,
year by year Increases its purchases from the
Argentine llepubllc, while tne amount of do
mestic products which the latter, in turn, pur
chases from the former Increases very slowly,
or remains altogether stationary,"
The Commissioner snows the Influenoe of
State and local taxation on the oost of proJuo
Hon. etc. , and comes to the general conclusion:
"Having thus presented, In part, the evidence
which demonstrates ;tbe rapid development of
the country, and having also endeavored to
determine and analyze tnecanses whloh at the
same time tend to check or interfere wlta sau
development, we are now prepared to take up
and intelligently consider tUe lesson to be
deduced from these Investigations rela'ive to
tbe Inquiry proposed in the outset viz , wsat
policy ot legislation Is likely to prove hereafter
most advantageous to the revenue, and mo Hi
ctrtaln to establish the credit and industry of
the whole country ou a souud and subitantlal
basis.
"It seems clear that whatever fl-toal polloy
may be proposed for adoption, It must not only
be recognized and be Dosed on the exlstiug
condition of affairs, but must be also lathe
nature of an amendment which shall to the
smallest extent possible partake of the oaar
acler of an experiment. Vloleut change, un
certainty, end ltstabllity are, of ail things,
what the business interests of the oountry nave
moat reason to apprehend, while, on theotner
band, the determination and recognition of a
clear, well-defined, and praotlol issue, to be
attained to by a certain progressive, even
though a slow movemeut, is sure to bring with
it stability, hope, and confidence in the future,
the elements which constitute In no small
degree the basis ol both private and natloual
prosperity. Can such a policy be determined ?
Cuu such an Issue be consummated T
"The ends to be attained are, mainly, three:
First, full restoration of the national credit and
resumption ol specie paymonts; second, re
lunding the national debt at a lower rate of
interest; third, reduction of the cost of na
tional production, with a view of enabling the
products of American industry to oompeteon
terms of greater equality with the products of
loreign nations than Is now possible, thereby
establishing a system of national protection
ana Insuring stautllly. Increased product, and
a redevelopment of American oommeroe and
Kblp-bnlluing.
"Lt us now inquire wha' elements are ready
at hand for the ao :ompllshmeut of these re
suits. The nation at pn sent is exoesslvely in
debt, and is further embarrassed with the vo
lume of its matured and suspended paper. To
free itself from embarrassment and to redeem
its suspended paper, there would seem to be
but one method, which is alone available lo
Individuals nnder similar circumstances, viz :
to manage in some way to receive more than is
expended, and to apply the surplus of receipts
over expenditures lo tbe payment of debts and
to ihe restoration of credit."
The determination of the probability of ob
taining such a surplus, and also its possible ex
lent, involves the consideration of tue national
finances, present and prospective, and to this
tbe Commissioner asks attention. Aud, in a
subsequent part of his report, he say.:
"In ibe application or a moiety or tne antici
pated surplus to tbe reduction ol taxation, the
tt-peclal object songnl to be aooompllshed
should be the reduction or tbe cost or national
production, witna view of removing those im
pediments which now bo greatly restrict and, in
many Instances, prevent the free exchange of
the products or American Industry with the
needed products of other nations; and thus
bring to ihe country a more favorable balance
of trade than now exists. In using tbe expres
sion balance of trade, the Commissioner noes
not wish to be understood as recognizing in
any way the old exploded ideas in reaped to
this subject, viz.: that a nation gains in pro
portion lo what it sends abroad, and lo-.es in
proportion to wbat. it reoelves beok, but be
dues mean to cle-aly express the opinion tbat
a condition of affairs like that now existing in
the United Htates, whereby gold aud silver and
certificates of national indebtedness continu
ally tend lo flow out of tbe oountry In payment
for foreign commodities, In preference to the
products of domestic ladubiry, Is botb ua
nstural and injurious, and is a condition of
aflairs exactly ibe reverse of what prevails in
urest Britain, France, and other prosperous
commercial nations.
'The Commissioner believes that be his
already sufficiently indicated the. course ne
would recommend in reference to the applica
tion of the anticipated surplus to the reduction
or taxes. In tbe department or internal reve
nue, tbe removal cf taxes on tbe transportation
of passengers, the receipts of the telegrapu and
express companies, the manufacture of gas, and
possibly upon sales, would reduoe tbat oraoon
of our internal revenue system to almost lbs
simplest form that can be devised for the col
lection ol tue requisite amount of moey
which tbe requirements of the treasury may
Lecessilate.
"In ihe matter ef the tariff, the Commissioner
trusts that the Government will notation Itself
to be diverted from the consideration of tue
real question at issue, through any prejalloes
whlcn may be evoked either on behalf or free
trade or protection. There are no considerable
proportion or the people or tne United Htates In
tMvor or the adoption or free trade lo the
European sense, even were the necessities of
the treasury fur revenue fr less urgent tbau at
present. There are none worthy lo bear the
name of an American citizen who desire that
he Industry of foreign countries should prosoer
and be extended at ihe expense of our own."
The conclusion of ihe report is as follows:
"In what bas thus been submitted the Com
missioner believes that he has sufficiently in 11
cated his views lu respect to the tariff, lie can
not resist the conclusion that, as it now stands.
It is in many respects injurious and destruc
live, and does not afford to American industry
thai stimulus and protection whloh Is claimed
as lis chief merit, lie believes tbat to grant,
in tbe main, tbe advances asaed in the bills
now pending before Congress, would be but to
aggravate the very ultlieuliles under whlon the
country now labors, to impair the revenues and
binder the return to specie payments.
"In fact, our preseut tariff is in many par.
Denials apparently based noon tbe old fallacy
that, in tbe exebange or commodities between
nations, wblch constitutes commerce, whaloue
veins the other loses. It needs but a moment's
tbought to be convinced that there can be no
permanent trade or oommeroe uuless it is for
ibe gain of both nations; all trade is based upon
tbe mutuality of services, and It Is one or the
evidences or the progress or modern thought
that the Interdependence or nations is begin
ning to be recognized. This Is emiueutly true
in Kugland, France and Germany, true in China
and Japan, true even in Hpatn, but not yet re
cognized in tbe U i.l ted Htates, If our laws are
to De taken as ibe evidence of our tuougbt.
"With these feelings and convictions he would
therefore prove untrue to his trust did be uot
bere enter his most earnest protest against auy
further general increase of the tariff, but would,
on tbe contrary, recommend,
"First, An enlargement of the free list.
"Hecond. A reduction of some rates or duty,
and, as an exception, an lucrease of a lew
others, with a view to the Increase or tue
reveaue.
"Third. A redaction of some rates of duty
with a view to an absolute abatement, on tue
simple ground tbat the reduction of a duty Is
the reductlou of a tax. and that the most effi
cient method of protecting home Industry is by
tbe removal of obstacles in the form or taxes.
"Fourth. Tbe oouverslon to the utmost pos
sible extent of tbe present ad valorem duties
into specifics, ss the only practicable method ef
In.urlng certainty and eunality In the assess
ment of duties and the prevention of under
valuations, and theabrogalion of the privilege
wblcb enables reluming tourists to Import free
of duty an amount of goods corresponding to
their real or supposed soolal position.
"in behalf or the conclusions thus expressed,
tbe Commissioner confidently rnpcaU to the
tine friends of American lndu4.y fur oouaie
nance and support, for nothing can be more
certain than that, if unnecessary and Iniqui
tous burdens of taxation under tue tariff oou
ilnue to be laid npon tbe people, the day is not
far distant when a reaction of pabllo sentiment
will oo no pel either a sweeping reduction ot
duties, or iednoe through agitation such an
Instability In legislation as will in Itself prove
most injurious and destructive.
' The Commissioner does not believe It expe
dient In this, a general report, lo enter npon
the specific details of a tariff revision, but the
precise changes required in his Judgment to be
made will. If called for, be made in tbe form
ol a supplementary report, or be submitted
personally to the finance committees of Con
gress." LEGAL INTELLIGENCE.
TUE HILL MUKDEIi.
Mrs. Twltcbell lu Court.
Couut or OrR and Terminer Jul?es
Allison and Pelrce. This morning CamuU K.
Twltcbell was In the dook, having been brought
up In tbe van to be present at the naming ot a
day for her trial. Hbe was, as heretofore, closely
veiled; bat sbe was not so oast dowu in appear
auce or so reticent, but oonveraed wita her
counsel and with an old lady who sat beside
her.
As sbe signed a document at the Instanoa of
counsel, her delloate white hand was seen
In strong contrast with me deep black wltn
which Hie was dressed.
Mr. O'Byrne stated that he appeared npon
(he following petition, whloU was read by
General Collis:
To ihe Honorable Joseph Allison, Presiding
Judge of the Court of Oyer and Terminer and
General Jail Delivery of the oouutv of Tatla
delphla. The petition of Camilla K Xwitouoll
respectfully represents:
1. That upon tbe 22d day of Nven)r last
she was arrested upon the charge of having
murdered her mother, Mary K. mil, upon said
day.
2. That from that Mm nnill the present hoar
ne nes oeen inoarceratea lathe l'ailadelpuu
County Prlsoa.
8. That during that whole time she hat never
beeu Informed or any fuel within the know
ledge of tbe officers of ihe law wulo in nay way
connects her with the crime with whloti she
stands charged; and she Is Informed and be
lieves tbat her ouunscl have not been made
aware or any such fact.
4. That nnder tbe Constitution and lawn of
her country she Is entitled lo a speedy trial aud
to be madeaw reof the nature ani cause of the
accusation against her.
5. That protesting her entire innocence of the
acctiNallou her, or of any oonneotton whatever
directly or indirectly therewith, it beoomos to
her n matter of ire lust importance that she be
at OLoe confronted by tne witnesses ai-alnst
ber, thus enabling her to prooure and preserve
such evidences of her lunojenoe as miy be
tiect eary, and which evidences a lapse of time
may obliterate.
Hbe therefore humb!y pmys your Honor to
fix an early day for ber trial, and she will ever
pray, etc. Camilla K. Twi rcit bll.
Hworntoand subscribed before me tuis 6 lb.
day ol January. I860.
Joseph P. G Alton, pro. Clerk.
Dlstrlot Attorney Hbeppard replied tun the
Indictment had informed the prisoner fully of
the nature of the accusation. Tue Common
wealth's officers were as earnestly auxtout to
bring this case to a speedy trial as the defense
could be. Tuat It had not been tried already
whs no fault of tbe Commonwealth, for
toe writ or habeas corpns tbat wat taken
out, especially for the benefit or this prtsoaer,
postponed the presentment or an lniiotment
during the pendancy of that writ. But waea
that was disposed of anew bill was round, aud
toll sbe bad already pleaded: she had claimed
a separate ir al; and the case that was con
cluded last week had consumed fifteen days,
aud absorbed the whole ailentl-u or the Com
monwealth's officers. But it wai the purpose
lo lake up this case as soon as possible,
bud if he were to name a day certain, it would
be subject toany contingencies thatnilghtarlse.
Hubject to these conditions, he would say next
Monday week, which he though w-is speedy,
v lien compared with the cases of tnanv others
now In prison charged with murder. Hewomd
say Monday week, uot quite two weeks distant,
and would hope then to be ready.
Mr. O'Byrne said that in view of the labor of
tbe defense and the great Importance of the
case, it was the prisonet's earnest entreaty that
sbe should have a speedy trial. If Monday
week was fixed be sincerely hoped It would
not depend npon the convenience of the
prosecution or their desire for time to fix
up more' evidenoe. A! sneedy trial was her
constitutional right: and it was not orteu th it
prisoners made such requests in faot, of the
many now nnder a similar charge, she was the
only one who bad asked for a speedy trial.
Judge Allison said he did not uudarstiud the
District Attorney as qualifying the fixing of the
day further than to such ooutlug-ncles ai may
naturally arise in tbe trial of all o isos. He
understood that be expected to be ready on the
dy named, and lo proceed uuless some un
known or nnexneoted cause for postponement
should arise. He thought Monday week tnUht
be sufely named, and would expect both sidei
to be ready.
With this understanding the prisoner left the
Court, leaning noun ihe arm or her nude, tne
brother or Mrs. Hill.
It appears tbat many persons dli nit know
this proceeding was to take place, for mere
was no crowd about or la the Court House.
The Judge informed tbe Jurors that they had
been summoned to try homicide oases, out tbe
time and alteutlon of the Dlstrlot Attorney
bad been so constantly engaged In the trial of
the past few weeks that the business of the
Court was not yet ready for them, and there
fore they were discharged until nxt Monday.
Hcpkkmk Court Chief Justice Thomson
and Judges Agnew. Read, and dharswood. This
morning tbe following judgments were given:
By Agnew J.:
Htahle vs. Hneed. Error to the Dlstrlot Court
of Allegheny county. Judgment affirmed.
Kirk A Haiior vs. Clark & Grlcham. Ju lg
ment affirmed.
Cluley vs. Lockhart, Grow dc Co. Juditneat
Ky Hharswood, J.:
rue
e City of Erie vs. The Erie Coal Co..IMe
connty. Judgment affirmed.
Hiitsell vs. . Iteynolda. Judgment reversed
nnd v. f. d. n. awarded.
Klstler vs. Painter, Westmoreland connty.
Opinion affirmed.
Wood vs. Wood, Greene coauty, Daoree
affirmed.
Hunt vs. Gltmsn. Allegheny oounty. Jalg
ment revei ped. Thompson, C. J., dUseullng.
Wilde vs. Trainer. Allegheny county Judg
ment reversed, and v, f. d. u. awarded.
Prlngle vs. l'ringle. Cambria oounty. Judg
ment reversed, and v. t. d. n. awarded.
Rife vs. Geyer. Allegheny oounlv. Judgment
reversed, and Judgment given for the defendant
on tbe oase stated.
Tbe argument list was taken np.
Nisi Pkius Judge Williams. Peter K. Titus
vs. Charles Woournff. An action to reoover
damages for an alleged malicious prosecution.
On tiial.
District Court, No. 1 Judge nare. Moran
vs. Bourquin. An action upon au alleged
breaob or contract for the supply of map.
Before reported. On trial.
District Court No. 2 Judge Greenbank.
George Grler & Co. vs. U. H. Klein & Co. An
action of replevin to reoover certain properly
levied upon for debt, which was alleged to con
sist of partnership goods. Verdict for the
defendant.
Clagborn, Fleming & Co. vs. Benjamin Row
land t Co. A feigned issue lo try the right to
Gersoual property. It was alleged that .Lewis
. Jennings, a manufacturer in Klohmeud,
became largely Indebted to plaintiffs for goods
purchased, aud tben effected an extended oredlt
with them by giving them a bill of sale of the
machinery in bis establishment, and a judg
ment note. He became unable to pay his
debts, and plaintiffs went to take possession of
the property, but found that it bad been selzod
by defendants under a subsequent confessed
judgment from Jennings. They claimed tbat
i heir right was paramount to that or the de
fendants, and hence this suit. Oa trial.
Court ok- Common Plkas Judges Ludlow
find l'eirce. The Orphans' Court argument list
was under consideration to-day.
Stock Quotation by Telcgrraph 1 p. M,
Glendlnnlng, Davis A Co. report through their
New York house the lollowlnii:
N. Y. Cent. U. ......... 1 5W West. Union Tel.... 33 V
N. Y. and E. K. U
V anil W. It Mil :!1luv an.l TV. I 1 u
dev. and Tol.
Ph. and Hea. K.... Wi
Mlch.W. and N.I. K.87
Olev. A PltUb'g It.. 84
OhL and N.W. com 81
Cht and N.W. pref. 83
OhL and K. L R......ll '4
Pitta. V. W. A Chi. 118)'
Toledo A Wabash.. 64U
Mil. AH t. Pauloom.6H' J
Adams Express 47;2
Wells. Fargo Exp.. 22
United Hlatos Exp. 41
Tennessee Us, new. Atl
Gold
raoino Man a. oo,..ii7i
Market dull.
SECOND EDITION
LATEST BY TELEGRAPH,
Rnilrond Enterprlses-A Direct
Lino from New York to Wash
ington Advices from
Africa-Dr. LUing
stone's Safety.
FR OM BALTIMOR E.
Special Despatch to The livening Telegraph
I'crnotinl.
Baltimorb, Jan. 6. Gcner.il Grant passed
through here yesterday evening quietlj. Ue
returns in about ten day, and will spend some
time here the guest of William Albert.
Governor Swarm's ueillh hag improved, and
be will be able to attend Governor Bowie's In
auguration ou the 13. h.
Heavy rain last nicM.
Itallroitd Coalerenee.
Mespw. Isaac Hinckley, President of the
Ptiilad Iphii, Wilmington, and Baltimore Rail
rr nd Ccmpnoy, Wil.iam II Gutzmrr, General
Tirket Ageiit of Camden and Am boy Railroad
(0uitany, William Puicoit Biu lb. Esq., u
crlutcEdent of the tbrougfc li; betveeu
Washirtglou and New York, l'reKot Jackson,
of the New Jersey Central Railroad Company
II. II. Kenney, Superintendent of tbe Philadel
phia, Wllujini;tOD, and Baltimore RaiWosd
Company, and A. W. Markley, ot the Camden
and Am boy Ballroad Company, were all In Bal
timore jeslerday. In consultation with Johu II.
Garrett, Frq., President of tbe Baltimore and
Ohio Railroad, In reference to Senator Sher
man's bill, now brforo Congress, for an air ln
railroad from Washington to New York. They
visit Washington to-day.
Safety of Dr. Mvlugstone.
By Atlantic Oable.
London. Jan. 4. Latest news received here
from Africa confirms the recent report relative
to the safety of tbe great African traveller, Dr
Livingstone. It is taid he Is somewhere in the
vicinity ot Lake Kvasa, uear the confines of
Znzibnr. Victoria Nyanza or Ulcere we 8?a is
probably the lake meant. fp. Owinr, It is
tbought, to tbe wars between the native tribes
his progiccs bas beeu impeded, and conse
quently he has been suable to reach the sea
coast. Tlila Moraine's Qnotntlons.
I.on'jon, Jan. 6 A. M. Consols, 92.1 for
money and account. United States &TC-tweo.iet
quiet and steady at HI. socn quiet and
steady; Kne. 23i: Illinois Central, 95$; Atlantic
and Great Western, 44.
Liverpool, Jao. 5 A. M. Cotton bnoy&nt;
the sales to-day will reach 12,000 biles.
London, Jhu. 6 A. hi. Turpentine firm.
Other articles unchanged.
financxTand commer q e.
Orricx or tub Kvknino Tklkqkaph,
Tuesday, Jao. s. 1DU9. J
The Money market continues very cloe. Call
loans are quoted at 96410 per cent. FTit-ulass
mercantile paper ranges lrom 912 percent, per
annum.
There was rather more disposition to operate
in stocks this morning, aud puces generally were
steady.
Government securities were a fraction 1 ) ver.
City loans were unchanged; the new istue
sold at 10(4. no change.
Katiroad shares were the most active on the
list. Rending sold largely at 40J,!S46, divideud
Off. Lehigh Valley at 63J54, dtvilend olf;
aiid Pennsylvania Railroad at 55 j. no change,
Iu City Passenger Railway snares there was
nothing doiuK. 17 was bid for Tnirteeath and
Fttteentu; 26 lor Spruce and Pine; 10 for lies
Hmville; 25forGirard College; 2!) for German
town; and !I3 for Green and Coates.
Bank shures were in demand at full prices.
GO was bid for Commercial; 67 for Peon Town
ship; 70 lor City; and 123 for Central National.
Cnual t bares were firmly held. Schuylkill
Navigation preferred sold at 19, no change; nd
Lebtgh Valley at 2i)29, au advance of J; 10
was bid for Schuylkill Navigation common; 72
for Motris Canal preferred; and 49 for Delaware
Division.
The GIrard LKe Insurance Annuity aai
Trust Company, and the Kuterprise Iusurancn
Company each announce a dividend of 4 nr
rent., free of tax. payable on demaol. The
Fume Insurance Company makes 3 percent.,
payable ou demsnd.
Tbe Union Passencor Railway OmDaoy
announces a dividend ot one dollar aud titty
cents per share, clear of tax, payable on the
lltb tnstnnt.
Ibe Bank of North America annoancei a
srmi-armual dividand of 74 per cent., and an
extra dividend of 5 per cent., together 12) Pr
cent., puynble on the 8th inst.
TUe Cuesnut and Walnut Streets Passenger
Railway Company announces a dividend of one
dollar und titty cents per share, free ot tax, pay
able on the 14th Inst.
The National Exebange Bank announces a
dividend ot three per cent., payable ou demand,
clear of tax.
Tbe Little Schuy'kill Bailroad Company
announces a semi-annual dividend of 4J per
cent., ftce of tax.
PHIUDKLFUIA BT0CK KICHAJHJK BALKS TO-DAY
Reported by De Haven t Bro., No, 40 8. Third sues1
It-Ouo City Ss, New. Uluo'i
Its Btt Bead R. c. MX
fivu au cimiv
Ho do. - )
1UU aO,......iU".'4 IDK Tip
iiuoocam it a 6 "7n.. bi ie do ....Is... 6.49 l
l.lt SCI) 73 0. ', dO. IS. iSli
$ MCA Am 6m, 'SS.... SN)i 1(0 drt...l6AlU. 40 '
SU Sh 111 V B.d b.W, H 10 1 do....-046 ill
Iih do.opg.il o. li o do....tiu. H
1601b Pen uh i 65J, 100 do. .s3Uwn.l Si
SSUOho OIICrAAl 1U. 80 100 do ...... ....c 81
HniHUeadK-.b". 44 l0 do-010-4-.' il
lno do.....M 46'4 tco do..........
110 do.......30. 4S 101 dl 411V
100 dow.....c. 4SW loO d(l-m l. 484
IbO dO..b3tL 4(1', to I do..is
Messrs. Jay Coote & Co. quote uovern
ment securities, etc., as follows: U. 8. 6 of
1881, liojoni: 6-20s or isca, iioaiii;
6-20S, 1804, 107j107J: fi 204, Nov., WS, 10Ub
108; July, 1865, 1004aiU6J; do., J.W7, 106i'a
107: do. 1868, 107a'l07i; 10-40a, 105J10.
Gold. 135.
Thlladclphla Trade Report.
Tuesday, Jan. 5. The Flour market remilns
quiet, but prices are quotably unchanged. About
6U0 barrels were taken by ihe borne nousuiners
in lots at $55-75 lor stiperdne; la!6 60 for extra;
7'2d8 lor Iowa. Wlsoonsln, and Minnesota
extra family; $8-75(310 ft" for PennsylvanU aud
Ohio do. da; and Jll(13 for fanoy brands, ao
cordinit toqnallty. Hye Flour oommands $7 50
K V bbl. Nothing doiug In Corn Meal.
The demand for Wheat is limited to tbe im
mediate Wants of the home oonsumers, wiio
purchase principally of o- luie Iota. Hales or red
at 81 ) 2; amber at $i 01so2 08, and white at
2'25!-5. Ky els Aimer. Hales or 000 bushels
Western at 11-60(91 62. Corn is held firmly at an
advance. Hales of 8C0 bushels prime dry new
yellow at O.itfiWo; some damp do. at90$9lo.;
and new while at Hi-qtMn. ola are quiet al
former raUs. Bales of 20U0 bushels Western al
7375a,
Nothing doing In Barley orMtlU
Wuisky is held at tl-03106 V gal., duty
paid.