de Bow's Review Volume 4

de Bow's Review Volume 4

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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. 1867 edition. Excerpt: ...largest amount of skill or invention, commonly known as manufactures, will yield a revenue at the cost to the community only of the revenue thus raised. Protection decreases the abundance of commodities, and increases the absolute share of a small number of the people at the cost of a portion of the relative share of each. Free trade increases the abundance of commodities, gives to each the relative share which his education, skill or capital entitle him to, and leads to the harmonious development of the powers of all. We shall reach specie payment, not by the prohibition of imports, but by the increase of the products of labor, other than gold or silver, to such a point that other nations will buy them on account of their cheapness, rather than our specie, and thus enable us to retain specie and export cotton, oil, wheat, etc., in full for our imports. The larger portion of the revenue now required by the United States can be obtained from commodities which are not absolutely necessary to the productive power of the people, and the remainder from a moderate revenue tariff which shall cost the people only the amount of revenue thus obtained. A reduction of the aggregate of taxation from $16.04 currency or $11.46 gold per head to $8.60 per head will yield a revenue sufficient to meet the probable expenses of the Government, and pay the debt in less than twenty years. The amount of $8.60 per head can now be obtained from very moderate rates of taxes and duties, as compared with what we have been paying; and, as wealth, production, and consumption, increase faster than population, a less and less rate of tax or duty upon commodities or interests will yield the requisite amount per head. To secure these benefits, stability is absolutely essential;...
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Product details

  • Paperback | 318 pages
  • 189 x 246 x 17mm | 572g
  • Miami Fl, United States
  • English
  • Illustrations, black and white
  • 1236651006
  • 9781236651006