* BY DAVID OVER. From the American Agriculturist. Grafting and Transplanting Grapes. A correspondent writes us that be has seve ral roots of the ecmmon Fox grape, which he wishes to graft with improved sorts; and asks if he shall do the work at the same time and in the same way as for apple-trees. He also wish es to remove a large Isabella to a better loca tion. We are glad to see that the improving taste of our people will not let them rest satisfied with the old-fashioned grapes. There is a de licious sweetness and flavor in most of the new varieties, of which many people bad before read and dreamed, but which they supposed could be enjoyed only by the owners of costly glass structures for raising exotics. \\ edo not won der, therefore, that so many thousands of the new comers arc annually dissemiuated over the hud. Nor do we wrnder at the desire to en graft the old sorts with the new and better.— This work is easily done, though success is not as certain as with apples and pears. It may be done in the Spring, at the time of grafting fruit trees in general, if the stock is cut eff several inches beiow ground, and then well waxed over to prevent excessive bleeding. But it is more likely to succeed, if done later, when the leaves are nearly expanded, and the first flow of sap is mostly over, which occurs, in this latitude, from the let to the 10th of June. Saw off the stock moothly below ground, split it in the usual cloft-manuer, insert one or two scions, bind the stock firmly together if it docs not adhere well cover with wax, aud draw the earth over the whole, leaving one bud above the surface. If the weather is dry, it will be quite important to mulch the ground and shade the scions for a month or two, otherwise they will dry up and perish. Wheu the stock is large and difficult to split, several gimlet holes may be bored in it two or three inches deep, and the scions insert ed. Make the boles in the direction of the grain of the wood. Care must be taken to rub oft" the suckers which will spring up from the stock, and would otherwise rob the scions of their necessary food. If the scions get well established, they will make a growth from five to ten feet the first season, and will bear some fruit the second year. Wo can hardly advise to transplant a large vine. The roots extend far and wide, and axe very easily broken. If, however, one chooses to try it, take Ume enough. Take a leisure half day; begin at the stump, and uncover the roots for as great a distance as the branches would extend if laid upon the ground. Then, with a transplanting trowel and the fingers, follow out each root, lifting up the fibres carefully so as to break noDe. Then set it out as speedily as possible, so as to allow none of the roots to be come dry, giving it the Lest possible soil. Cut out the oldest canes, and shorten tho youngest to sor 6 feet, ilu'cii the roots for the first soltson, and water them if necessary to keep the viue from flagging. A HATTER SEARCH OF RUSSIA FUR. On one occasion a hatter named Walter Did dle, called to buy some furs of us. For cer tain reasons I was anxious to play a joke upon Lim. 1 sold him several kinds of fur, includ ing beaver and coney. He wanted some 'Bus >-ia.' 1 told Lim we had none, but Mrs. Whee ler, where 1 boarded, had several hundred pounds. 'What on earth is a woman doing with Rus. sia V said be. I could not answer, but assured him that there were 130 pounds of old Rushia, and 150 pounds youDg Rushia in Mrs. Wheeler's Louse, aud under her charge, but whether it was for sale I could not say. Off be started with a view to make the pur chase. He knocked at the door Mrs. IV heel er tho elder msde her appearance. •1 want to get your Russia,' said tbe hat ter. Mrs. Wfcecler asked him to walk in and he *eated. She, of course, supposed he had come after her daughter 'Rusbit.' ■ 'What do you want of Rushia 1' asked the old lady. 'To make bats,' was the reply. 'To trim bats, I suppose, you mean,' respon ded the old lady. 'No, for the outside of hats,' replied the hatter. 'Well, I don't know much about hats, but 1 will call my daughter,' said the old lady. Passing into another room where Rushia the younger was at work, sho informed her that a man wanted her to mak hats. 'O, he means sißter Mary, probably ; I sap pose he wants some ladies' hats/ replied Rushia, as she passed into the parlor. '1 suppose you wish to see my sister, Mary; she is our milliner,' said the younger Rushia. A Weekly Paper, Devoted to Literatnre, Politics, the Arts, Sciences, Agriculture, &c., &c—Terms: One Dollar and Fifty Cents in Advance. 'I wish to see whoever owns the property, said he. ■Sister Mary was sent for and soon made Lcr appearance. As soon as she was introduced, the hatter informed her that be wished to bay 'Russia.' 4 Buy Russia !' exclaimed Mary, in surprise. 'I don't understand you.' 'Your name is Miss Wheeler, I believe,' said the hatter, who was annoyed at the dif ficulty he met with in being understood. 'lt is, sir.' 'Ah ! very well. Is there old and young Russia in the bouse V 'J believe there is,' said Mary, surprised at the familiar manner in which he spoke of her mother and sister, both of whom were present. 'What is the price of old Russia per pound, asked the batter. '1 believe that old Rushia is not for sale,' replied Mary, indignantly. 'Well, what do you ask for young Rushia ? pursued the hatter. 'Sir,' said Miss Rushia, the younger, spring ing to her feet, 'do you oome here to insult de fenceless females I If you do we will soon call our brother, who is in the garden, and he will punish as you deserve.' 'Ladies !' exclaimed the hatter, ia astonish ment, 'what on earth have 1 done to offeud you ? I came here on a business matter. I wan't to buy some Russia. I was told you had old and young Russia in the house. Indeed, this young lsdy just stated such to be the fact, but she eays the old Russia is not for sale.— Now, if 1 can buy the young Russia, I wane to do so—but if that csn't be done, please say so, and I will trouble you no further. 'Mother, open the door and let this gentle man pass out, he is undoubtedly crazy,' said Mary. 'By thunder ! I believe I shall be if I re main here long,' exclaimed the hatter, consid erably excited. I wonder if folks never do business in these parts, that you think a man crazy if he attempts such a thing V 'Business 1 poor man,' said Mary, soothingly, approaching the door. *1 am not a poor man, madam,' replied the hatter. My name is Walter Diddle ; 1 carry on hatting extensively at Danbury ; 1 came to Grassy Plains to buy fur, and have purchased some beaver and coney, and now it seems I'm to be called 'crazy' and a 'poor man' because I want to buy a little 'Russia' to tnake up an as sortment.' The ladies began to open their eyes & little. They saw that Mr. Diddle was quite in earnest, and bis explanation threw considerable light on the subject. 'Who sent yon here V asked one of the sis ters. 'The clerk at the store opposite,' was the reply. 'He is a wicked young fellow for making this trouble,' said the old lady. 'He has been doing this for a joke.' 'A joke !' exclaimed Diddle, in surprise.— 'Have you not got any Russia then V 'My nauie is Jerushia, and so is my daugh ter's,' said Mrs. Wheeler, 'and that I suppose is what he meant by telling you about old and young Rushia.' Mr. Diddle bolted through the door without a word of explanation, and made directly for our store. 'You young scamp !' ho said, as ho entered, 'what did you mean fey sending me over there to buy Russia V '1 did not send you to buy Rushia, I suppo sed you were either a bachelor or a widower, and wanted to marry Rushia,' I replied, with a serious countenance. 'You lie, you dog, and you know it,' he re plied ; 'but never mind, I'll pay you off for that some day.' And taking his furs he de parted, less ill humored than could have been expected under the circumstances. WANTED TO KNOW. Tbe name of the tune which played upon the feelings. If the cup of sorrow has a saucer. In what form the phantoms of doubt ap pear. What is tho fine when people bocome intox cated with happiness. Why other iuen should not have a forge as well as a blacksmith. How many men have bolted from tbe course j of true love. If any one has strangled who Lung upon a doubt. How many dutiful sons belong to Mother Church. If tbe light of other days was gas or elec tricity. Tbe name of the Irishman who got to the top of tbe morning. If keeping a fast day don't destroy many a brood of chickens. If any one ever felt fatigued after the ex- I ercise of forbearance. I if the girl who clung to hope had'nt a slip | pery bold. The 'Hoop' Disease. Tbe Petersburg (Va.,) 'Express' is responsi ble for tbe annexed. We clipped it from the editorial column of a receut issue; "A Dew disease ba9 made its appearance since r the introduction of hoops. It exhibits itself ; only in cold weather, and then is only discover j able in cities where the buildings are warmed ' with furnaces. Two ladies were standing over ! a register the other day, talking and laughing, when one endeaveriug to sit, was suddenly at tacked and screamed violently. The other soon also tried to sit, and was attacked in toe same manner. The explanation is that by standing so long over tbo register, their metallic hoops became heated to such a degree that when they attempted to be seated, it was like sitting on a BEDFORD. PA., FRIDAY, APRIL 15, 1859. hot gridiron. Of course they were not a great length of time in getting up again, and natu rally enough uttered screams—all of which would be very mysterious to a looker on, un acquainted with the mysteries of hoops. RE-ISSUE OF TREASURY NOTES. SPEECH OF IIOJS. SIHOV CAMEROS, OF PENNSYLVANIA, IN THE SENATE, MARCH 2, 1859. The Senate, as in Committee of the Whole, took up for censideration the bill making ap propriations for sundry civil expenses of the Government for the year ending June 30, 1860. MR. CAMERON. Mr. President 1 cannot vote for this bill. In my judgment, it is unwise to borrow money without providing the means for its payment. Let it be accompanied by a sec tion changing our revenue system from ad valo rem to specific duties, and I will vote for this additional $20,000,000 of Treasury notes. I have becu disposed, hitherto, to hope that something would be done for the iudustry of the country at the present session; but 1 am satis fied now that it is not the intention of this Con gress, or of this Administration eitber, to cur tail their extravagant expenditures, or to pro vide the meaus of payment. We are to live upon credit, and those who follow us will have to pay the debts contracted under this Admin istration. The proposition of the very iuteliigent Sen ator from Khrode Island, to altar the form of collecting duties, was voted by tbe majority this morning as unconstitutional, upon the ground thai it was iu the nature of a revenue measure, and that such measures must oiiginate with the (louse of Representatives. Its purpose was to prevent frauds; and its effect upon the Treas ury would have been an increase of its receipts; but, in preventing frauds, it would also have benefitted, incidentally, the manufacturer, by keeping out of competition worthless and un der-valued fabrics. Now, wo are about to vote upon a measure wbich avowedly and opeDly raises revenue, in the shape of irredeemable Treasury notes. This measure will be voted constitutional by the same Senators who refus ed by tbeir votes, this morning, to BO adjust tbe present law as to make frauds mpossible. The Government should increase their income by a wise adjustment of the revenue system; bat they come here and ask us to allow them to borrow more money. If they get this new is sue, of eoursa they will act as all broken-down merchants do—-use tbat expedient fortho pres ent, and next year they will probably come for another Latch of irredeemable notes. In his annual message, the President told us tbat he was desirous of changing tbe revenue sustem from ad valorem to specific duties, iu accord ance with the interests of bis native State and with his promises made to her citizens, lfoes any Senator believe he was sincere in those prom ises? If be was sincere, then meu will wonder bow bis call for tbe Cuban fuud of §30,000,- 000 was so cordially supported by all his par ty. Will BDy one believe tbat the President was sincerc.in his recommendation when be gets no support for it in thus body, when a large ma jority aro his partisans, and many of them were the advocates of protection before they joined bis standard? lie would not himself be will ing to admit a fact so discreditable to his pow er. And yet such is the truth. All of bis friends are now doing" all they can to prevent any action on the subject. The organization of all ievenue bills belongs, property, to tbe House of Kepiesentativcs. It! is known here, it is known at the other end of the avenue, that no loan bill can reach us from the House of Representatives, unless it is ac companied by un alternation in the tariff. This ! subterfuge is, therefore, resorted to. It is a part of that skillful' legislation whiob the well i trained gentlemen who come from the section of j the country where, they say, they have no sec-; tionalism, always practice with signal ability. I They can always find some mode of getting j around the Constitution, when it suits tboir own purpose. They want no change in the tariff but they want money to carry on the Government: and tbe credit of the Government will raise money. Yesterday, an ameudment, originating in the Senate, changing the mode of merely collect ing the revenue, was, in their opinion, uncon stitutional. To day, it is constitutional to orig inate a loan bill in the Senate; for it has been discovered that such a bill, having passed this body, can be squeezed through tho house of Representatives by tbe skillful use of its rules. In all the discussions on this subjeot, wo of the North have been treated as not belonging to the country. Tbe honorable Senator from Virginia, [Mr. llun'.er,] as well as the distinguished Senator from Georgia, [Mr. Toombs,] have, in their dis cussion of the tariff question, endeavored to excite the prejudices of the people of their sec tiou by the alarming cry of taxation. They al lege that the South is unduly taxed for tbe ben efit of the North, in all revenue bills which even incidentally, or by accident, give protec tion to the manufacturer. They are highly hon orable gentlemen, of acknowledged ability, and wilh long-standing reputation as statesmen, — They seem, too, to be sincere; and I should not venture to contradict what comes from such high authority without the most ample proof.— But, believing the facts would prove them to be in error, 1 have taken some trouble to have carefully examined the census tables in the re port of the Treasury Department. Mr. Guthrie's report on tho finances for the year 1855 contains a number of important ta bles, compiled from the census of 1850. Turn ing to table No. 21, page 100, tbe population of oach State and Territory is given, separa ting the slave from the free; and giving the former the benefit of Delaware, whioh is often olassed as a free State, we have the following: POPULATION IN 1850. I'ree States, 13,465,576 —58 per cent. Slave States, 9,726,309 - 42 " Total, 23,191,876—100 Revenue derived from customs in 1849-50, (ace table 12, page 82,) $39,668,686 42; equal per capita, $1,715. Amount paid by free States, §27,106,935 Amount paid by slave States, 12,561,933 Total, $39,668,868 At page 100, table No. 21, you will find the following heading: "Amount of paying im ports, less foreign paying exports allotted to each State, based upqn its productions."— Tnese productions refer to the total value of agricultural and manufacturing productions of eaeh State. They sum up as follows: FREE STATES. Per capita , $7 51, $101,222,351-68 per ct. SLAVE STATES. Per cadita, $4 82, $46,829,224—32 " Total, $148,051,575 Here we find the free States and slave States showing the following ratio: SHAKE OF THE PUBLIC BURDEN PR. CAPITA. Free States, 58 per ceut. Actual allotment as above, 68£ " Excess, 10 i " " Slave States, 42 • " Actual allotment as above, 32i " " Deficiency, 9£ " " Apply these figures to the revenue derived from customs: Proportion due, per capita—free States, $23,032,823 Actually paid by free States, 29,106,935 Excess paid by free States, $4,074,112 Proportion due per capita, slave States, $16,635,863 Actually paid by slave States, 12,561,751 Deficiency of the share due from them, twen ty-fire 1 par cent. The share of the burden of the free States, per capita, of income from customs, was $1 71 4; but they paid, per capita, $2 01; equal to twenty-nine and six tenths per cent, too The share of the slave States was, per capi ta, $1 56.6; but they paid, per capita, only $1 29; equal to fifty-seven and six tenths per cent, too little. Now let us compare some of the manufactu ring free States with the strictly agricultural of the slave States. Iu the last column of ta We No. 21, we have the following heading: "Allotment per capita of the paying imports, less the foreign paying exports, as ellotted to each State, based upon its productions." I<roai this colutuu 1 select the following sev en manufacturing States, with their rations: Massachusetts, 812 26 Rhode Island, 12 H Connecticut, 11 48 New Jersey, 8 89 New Hampshire, 8 62 New York, 8 47 Pennsylvania, 7 61 Divided by 7) 69 14 Average per cent, $9 88 Also seven agricultural States: Georgia, $4 52 Florida, 4 03 North Carolina, 3 36 South Carolina, 4 19 Alabama, 4 83 Texas, 3 76 Virginia, 4 37 Divided by 7) 29 06 Average per cent, $4 15 Thus it appears that the seven manufactur ing States consumed two and three eighth time 3 per capita more of foreign products than the seven agricultural States did; and hence they paid two and three eighths times more than their per capita share of the burdens or taxation for the support of the General Govemmcut. Notwithstanding these facts, the planting States of the South, and those who ge with them, are constantly complainiog that the tar iffs have all been made for the benefit of the workmen of the North. In the north every man is a laborer, and ev ery man is proud of his pursuit. Every man there produces something for the benefit of the whole, and every man is a portion of the com munity. It is not so in the cotton States. — Tbero they have two classes —ono the free and the rich, and the other the slaves, who do the labor. 1 make these remarks because it is constantly said by southern gentlemen that we of the north are oppressing them with taxation for our own benefit. I have been told, too, that my State was a beggar here- that she came asking alms. Sir, 1 reject these asser tions with scorn. It is not necessary for me to say anything in defonse of that great old State which I represent —a State which has paid within the last twenty years nearly eight mil lion dollars for education; whose people volun tarily taxed themselves to the samo amount; a State where every man reads; whore every man is a portion of the general community; where all are equal, and all intelligent; where her f government has expended more than fifty mil lion dollars to improve her roads aod rivers; where her citizens have expended $>100,000,- 000 to construct railroads, aud to make her coal mines productive aod profitable. Such a people require no defense from me. They can defend themselves. Their ohurches, thair I school houses, their cultivated fields, their sub -1 stantial homesteads, their massive hams, their I beautiful cities, their thriving villages, and tbeir philanthropic edificos are monuments to I their patriotism, thoir intelligence, their virtues i aDd their greatness. They will stand as long !as this Union shall last, and I trust that will !be forever. That State, and her people, 1 rc- peat again, require no defense from any one. The planting States, having possession of the machinery of the once powerful Democrat ic party of jthe Union, have moulded its princi ples to suit themselves, aud, by the constant agitation of the slave question, have combined the whole South with them, in a position an tagonistical to the North. The real interests of the grain growing States of the South are identified with these of Pennsylvania, and yet she receives sympathy only from a part of Ma ryland, Kentucky aud Tennessee. It is time we were done with the negro question, so con stantly thrust upoD us by the cotton States. From the date of the Declaration of Inde pendence untiljnow,Pennsylvania has been Re publican. Republicans, as that term was un derstood by those who made the Constitution, and as it was understood and held by Jefferson Madison and Monroe, and the Republican par ty, before the North and South were arrayed against each other as sectional factions; before sectionalism became stronger than patrio'ism. Pennsylvania was then, aDd I hope will long continue to be, the Keystone of the Federal arch. Never failing in any emergency to re spond to the call of duty, whether her aid was required in the tented field, or at the polls; whether for war or peace, Pennsylvania has always been true to herself aud to ber duty, as a member of the Lnioa. What sbo has been she will continue to be. As an humble, but honored citizen of the State, lhave been train ed to fcalieve that it is no less the duty of ev ery citizen than of the President of the United States, to preserve, protect, and defend the Constitution; and this 1 construe to inelude the rights of the South DO less than the rights of my own State. This I construe to embrace no less the rights of the cotton and rice planter of Carolina and Georgia, than the rights of the miner or manufacturer of Pennsylvania and Massachusetts. 1 bold that we are one people, united by an identity of interest and of duty, ana I again assure southern Senators that I, as ar. individual, and Pennsylvania, as a State, ars now, and ever will be, ready and wiiling to preserve, protect and defend all and every one of their rights under the Constitu tion, whenever and however they may be as sailed, whether it may be by a foreign enemy or a domestic foe. Having said this much, I will add that I was oue of those known as the original Jack son men; that I was, ana am, of the school of Jefferson, Madison, Monroe, and Calhoun, and that 1 look to them, and to the Constitution for my rule of action. What, then, is the lan guage of the Constitution? It says: the Con gress "shall have power to levy and collect taxes, duties, imposts, and excise; to pay the debts and provide for the general welfare of the United States," and "to regulate commerce with foreign nations and among the several States." Now, what is the construction which Jefferson, Madison, Monroe, Calhoun, and the Republican fathers gave to these grants of Did they deny the power of Congress to pass a protective tariff? Was not the fact that the Parliament of England was opposed to tho growth of manufactures in the colonies one of the chief causes of the Revolution? Did not Pennsylvania, by her Senators Morris and Maclay, demand, in the first Congress, protect ive duties? Did not Jefferson, Madison, Mon roe, Calhoun, ail and each, advocate the en couragement of American manufactures, as conducive to the "general welfare?" Let not Senators be startled. I quote the words from the Constitution, and I will show them that they were properly and wisely placed there.— Did not General Jacksou recommend a pro tective duty on irou, because it is an article in dispensable to the "geueral welfare," for which we should not be dependent on foreign na tions? I will not take up the time of the Senate by quotations. I refer to the known and oft-re peated opinions of southern statesmen when they represented and spoke for the south; and 1 refer to their known opinions, because there are some who rely on the iufiuence of their names to sustain the new theory of ad valorem s —the modern bed of Procrustes, which regu lates the "general welfare" by the length of party platforms. 1 profess to be practical in the business relations of life. 1 have great re spect for the opinions and precepts of these great men. My purpose was not to cite their opinions as the rule which should at this time regulate our opinions; but I would show that they have all admitted not only the right to create, but the expediency of a protective tar iff; and to insist that that which was right aod expedient then, is now an indispensable neces sity. 1 propose to do this, by contrasting the tariff enacted by tho men who made the Con stitution, with the tariff of the present day; the tariff of specific and protective duties, with the new system of ad valorems; the tariff which gave life to our manufactures, and created a body of American merchants, ready with their wealth, with their lives, and their honors, to "preserve, pretcct and defend" the Constitu tion; with the tariff which makes us debtors, dependent upon the caprice and financial poli cy of forcigu bankers, and substitutes the agents of foreign manufactures for the American mer chant; converting into mere money chaDgers those who, under a wise regulation ot our for eign commerce, would be the hope, the pride and support of our country in peace aud in war; making them dealers in usurious interest, and shavers of notes, instead of dealers in tho pro duce of our industry, giving to it life and en ergy. The time was, when an American merchant could purchase foreign merchandise on credit. He gave his bond for tho duties, and was ena bled from his sales to realize the funds, not on ly to pay the duties, but to purchase American produce, wbicb he remitted to his correspon dents in Europe, in time to meet his payments. Then the British manufacturer furnished the capital, and commerce was a reciprocal exchange VOL. 32, NO. 16. of the surplus products of labor. The Ameri can merchant bought British manufactures and paid for them with American produce. It will be remembered, that in his speech on the tariff of ISIG, Mr. Calhoun admitted the propriety of protecting the manufacturing in terest which had been created by the war. It was not until after the election of John Quiney Adams, and the question of iuterna! improve ments by the General Government was made a part of Mr. Clay's American system, that the South rallied against a protective tariff as un constitutional. The question then was not so much whether there should be a protection for American manufacture, as whether a largo sur plus revenue should be created, to be expended by Congress on internal improvements. Con gress may have power to levy duties "to pro vide for the common defense and general welfare,'' and yet it may not be authorized to create a large surplus to be expended in internal improvements. I note this distinc tion to mark a period in our progress, and that I may call the attention of the Senate to the fact, that this part of Mr. Clay's system hav ing been arrested by the movement of South Carolina, the payment of the public debt, and the transfer of the public money to the State banks by General Jackson, led to such an in flation of the currency, and gave sucu a stimu lus to enterprise and speculation, that the States entered upon an expensive system of roads and canais, which led to an issue of State bonds, which became a new clement in our foreign commerce, and which element it is the duty of the statesmen of tho present day to study and comprehend. Failing to obtain a renewal of its charter, the Bank of the United States sold its branches, and invested the greater portion of the pro ceeds in State bonds, and sent them to London for sale, to reinstate its capital. We all know that the London Bankers and the Bank of England exerted their influence, and, by the depreciation of tho value of the State bonds, prevented their sale until, by the failure of the Bank of the United States, they were no longer fearful of its agency in placing our six per cent in competition with their securities. Having brokeD down tbo Bank of the United States, they permitted our credit to be so far reinsta ted that our railroad companies were enabled to purchase foreign iron with their bonds.— This has been done until we have accumulated a foreign debt of at least five hundred million dollars, the payment of tho interest upon which and the continued importation of foreigu iron, will soon create so large a balance against us that our condition will be much worse than a colonial dependant upon England: for 1 beg leave to remind southern Senators that our credit has become as much an article of com merce as their cotton. It is now used to pay for other merchandise, as well a6 iron and steel. and that this purchase of foreign merchandise with our bonds is a violation of the principles of trade, I beg to remind them that commerce should be a reciprocal exchange of tbo surplus products of labor, and that, by exchanging our credit for the products of English labor, wheth er it be in the shape of iron or other merchan dise, we create a debt, the payment of the prin cipal and interest of which, will subject us to all the contingencies which may at any time affect the rnouey market of Europe. I beg Senators to reflect for a moment on the cause and effect of the late monetary crisis, and to realize that the use of our credit in the shape of railroad bands is a new element of commerce unknown to Adam Smith and the. other masters who taught them the science of political economy. T ask, if a protective tariff is wise and expedient when our commerce was an exchange of the surplus produce of our labor, is it not indispensable now as the only means of preventing a ruiuous foreign debt ? I beg to remind them again, that the effect of the ad valorem system of duties has been to change the system of our foreign commerce. We no ionger have American merchants employed in the purchase of American produce to be ex changed "for foreign merchandise. In their place we have the agents of foreign manufac turers, who invoice their goods at the cost of production—not at the commercial price in the foreign markets. These goods are placed in our Government warehouses until the agent can sell them by bis patterns to the jobbers. These jobbors do not deal in American pro duce, but give their notes payable to their own order. These notes are placed in the hands of a broker, and sold at a discount, which diseoaut the agent of the foreign house charges as a pari of the price of the goods? Who, 1 ask, pays this discount! You all must sec that it is paid by the consumer. The jobber pays the face of the note ; the agent receives what tho jobber pays, less the discount. Would he sell the notes for such a price un less he had made himself whole by the price at which be had sold his goods ? Surely not who, then, profits by this mode of levyiugour duties ? The government does not, because this system favors a class of invoices charging the goods at less than their value in the foreign market. Is it not obvious that the consumer does, because ho is compelled to pay the duties and the pro fits on what the retailers pay, which includes the shave on the notes in the hands of the broker ? And what does the foreign agent do with the proceeds of these notes ? Does he buy Ameri can produce ? No. He remits specie aud thus derauges cur currency. Tho use of our credit in the shape of railroad bonds has oreated a balance against us, which, if the present system sontinues, will overwhelm us in irretrievable ruin. There is no hope of escape hut in such an increase of the duty on iron as to prevent the further importation of tho foreign article. If we estimate that the interest on our debt now payable in Europe be but thirty millions and our imports of foreign iron and steel be but I thirty millions, (and the averago for ten years j has been forty million?,) aud compound this I sum for thirty years at six per cent interest, it
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