An exposition of the unequal, unjust and oppressive operation of the present tariff system; in relation to iron, wool, hemp, paper, and the ... Select Committee, appointed by the Free Trade

by Clement Cornell Biddle

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1832 ...not taken into account by the importing merchants in making their calculations. It will also be perceived that in estimating the actual protection enjoyed by the American manufacturers, we have included as an item the premium paid by the importing merchant for the bills he remits to England irf payment for his goods. If the premium be nominally 10 per cent, we are aware that the manufacturer loses a certain portion of this protection, (varying according to the difference in the rate of duty,) by the erroneous mode of estimating the value of the pound sterling pursued at. our custom houses. A pound sterling is there estimated fin conformity with the act of Congress regulating the value of foreign coin) as being equivalent to $4.44. Whereas if exchange be at 10 per cent premium, the price which the importing merchant must pay for one pound sterling's worth of goods, is actually $4.88 of our currency. This of course will make some difference in the whole amount of expenses incident to the importation of foreign goods; but in most of the cases mentioned in our table, it will not vary very materially the amount of protection we have stated the American manufacturer to enjoy, and with the aid of the explanation just given the requisite correction can in all instances be applied to the tables. A TABLE Showing the Cost in sterling and in dollars and cents, at par; also the present rate of Duty, and two other rates of Duty on most of the kinds of Woollen Cloth now imported into the United States, together with some other matters connected with the woollen trade. 00 00 00 00 00 00 50 50 re50 50 50 50 2 50 2 50 2 50 2 50 2 50 2 50 2 50 2 50 4 00 4 00 4 00 III In order to render the Table which we have furnished more intelligible to those unacquainted with the practica...

28 pages, Paperback

Published January 1, 2012