Letter from the Secretary of State, transmitting a statement of the commercial relations of the United States with foreign nations, for the year ending

by U.S. Bureau of Commerce

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. 1868 ...here at least, are not so well agreed, the advocates of free trade claiming that it is--those of protection, that it is not. In this table, after giving the toi«I internal revenue, and total decrease for the time mentioned, I have selected only a few leading items, and have chosen those only from which the yield of revenue has decreased. It must not be supposed, however, that there has been no increase in the yield from any of the sources of internal revenue; but it will be seen that those selected are such as indicate very nearly the comparative activity of business and commercial pursuits generally; and that in the aggregate tliere has been a large falling off. Table No. 3 shows the comparative amount of American shipping arrived at this port for the periods before mentioned. The decrease for 1867 is to be attributed partly to the present tariff; but probably, in a greater degree, to the vast difference in the cost of British and American-built vessels, which enables foreign bottoms to charter at rates with which American vessels cannot compete, and which is inducing many American ship-owners to invest in foreign vessels, some of whom are, I am creditably informed, now building merchant vessels in Great Britain. This difference in the cost of vessels is caused principally by the high excise tax in the United States on the materials which enter into their construction. For the protection of American shipping, is it not well worthy the consideration of Congress whether a drawback of the internal revenue or excise tax should not be allowed on the materials of which American vessels are composed, asi upon goods of American production or manufacture when exported in them? If something of this sort is not done, it seems evident that the high price of mater...

296 pages, Paperback

Published January 1, 2012