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Limerick, York County, Maine
What is this article about?
U.S. Congress, after nearly four months in session, has passed no major beneficial acts; Revolutionary Officers' bill tabled in Senate. Tariff bill debated; Ways and Means Committee reports proposed import duty increases could reduce imports and exports by $10M annually, losing $4M revenue from specific goods.
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Congress.—The Committee of Ways and Means presented a report on the 12th inst. in which the arguments of the Secretary of the Treasury in favor of an increase of duties on imports, are examined at length. The Committee, believe, that, by adopting the recommendations of the Secretary, the imports would be reduced $10,000,000 per annum, and that, as the export trade depends upon the import, our export trade would suffer a correspondent reduction. The Committee cannot estimate the loss of revenue from the proposed duties on cotton and woolen manufactures, raw wool, bar iron and hemp, at less than $4,000,000 per annum.—Phil. Gaz.
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Domestic News Details
Event Date
Nearly 4 Months In Session; Report On 12th Inst.
Key Persons
Outcome
revolutionary officers' bill tabled; projected $10m reduction in imports/exports, $4m revenue loss from duties on cotton/woolen manufactures, raw wool, bar iron, hemp.
Event Details
Congress slow to act, no beneficial laws passed; hopes for justice to Revolutionary heroes dashed. Tariff bill main debate. Committee examines Secretary's duty increase arguments, predicts trade reductions and revenue losses.