The New York Herald Newspaper, January 7, 1869, Page 8

8 NEW YORK HERALD, THURSDAY, JANUARY 7, 1869.—TRIPLE SHEKT.. Some mmagine that the Industrial and commer. NATIONAL FINANCES. cial prosperity of the country was serious!y affected by legislation from 1842 to 1843. But ms ‘Nie issaldy fF anstanes: that, ie production of pig s for instance, tha juction a! iron was remarkably suinulated wader tue tari of tae rising froin 229,000 tous i 1342 to $20,009 tons a Report ef Hon. David A. Weiley Special Come missioner of the Revenue. We have given a brief synopsis of We important Feport of Hoa. David A, Wella, Special Commissioner ‘of the Revenue, upoa the national Auances, the tari, protecuon, capial, indusuy aud We general poli. cal economy of the country, We annex & ore ¢ol- prehensive abstract:— CAPITAL AND INDUSTRY, Mr. Weils frat considers dhe. Hpac hig art tf the capite! and industry 0! ol A on tis ‘question seem contradictory, On the oue hand the country seeing rapidly recovering alter the war, aud resumlag its career of progress and de- velopment. On the other hand there ls excessive speculation, idleuess, extravagance of living, dis- ovntent with moderate and slow gains and haste to And that under the pressed, Now, the statistics of the American iron Association show that the greatest annual incres @ in the production of pig iron took place before 149, and for thirty years 2t was remai ly uniform at the rate of ten @ eleven percent per annum; and that since then, no matter whether the qi! was low or high, whether tire c: 4d war or peacs, has a about eight per cent per Spann, or more than twice the increase of popula- mn. A Congressional committee recently spoke of the decline of production, imuigratton, prosperity aud revenne under the “free trade sys‘em of 1546"! a3 no- torious, Mr. Wells presents the following — Increase in the uction of pig iron—In 1840, 347,000 tons; im 1: 436,000; in 564,765; 1855, ek 754,178; 1806, 913,700 = Mr. Wells recapttulates both classes of facts; first, ‘ y the clemouts of national wealth, and among them:— Ph er in the oncanty at yen Peta et: First—iwmigraton. Fron tle 1st of July, 1865, to the Ist of December, 1868, abouc 1,000,000 natives of foreign countries have sought a permanent home in the United States, ‘These immigrants bring with Shem in money at least eighty dollars on the aver- age, und thelr laber is worth to the country $1,000 eval 1847, $ ; 1360, US4z, 3,882,900; 16M, 3,217,041; 1855, 6,480,097; 13 Increase tn the domestic consumption of cotton, 633,000; 1458-50, 100,000: 1850-00, 702,000, apiece. . 0 ‘ iiamigration, then, since the ena of the war has Petre bi Ly ponent $4,000; 1845, 174,000; added $80,000,000 directly and $600,000,000 imdirecily = Aa wc oe 419,000,000; to tire weaith and resources of the country, Secondiy—A geueral increase in the products of $29,000,000; 1850, $52,000,005 $74,000, 000. @omestic Industry. ‘The Commissioner asserts tuat || , Increase of national wealth rom 1340 to 1850, Wilila tbe iasi ive years more cotton spindies have | 80 Per cent; from 1350 to 1860, 126 per cent. In 184, beea et Pity more iron furnaces erecied, fae per cent ponds of the Ge ited States, issued more fron sivelted, more bars rolled, more steel | 101848, commanded a ao at pen cent, Muade, uiure coal wba copper mined, more lumber | , Commercial tonnage he United States—In guwed and hewn, more houses aud suops constructed, more manufaciories of dierent kus started, aad more petroleum coliected, reflued aud exported than during any equa! period in the history of the coun- try, aud Ulat lus increase Las beeu greater than be- fore, both as regurds quality and quantiiy, and weater than the legitimate increase to be expected han the norma! icrease of Weuith aud population. Of this he gives detatied prools:— L Colon Manifacture.—tn 1860 there were in the country 6, spindies, From 1890 to 1864 there ‘was no Increase, the demand being for woollens for aruy clothing. ‘Now there are 7,000,000 spindles; a gai cfol.78 per cent in foar or five fg ‘This esti- neate 48 more accurate than that of Mr. Wells a year ago, beiug founded oa the returus of the new “AinerivaR Cotton Manufacturers’ aud Plunters’ Association.” These are more accurate than the estimates hitherto made; and show that the crop of 1563, instead Ol beimg, as the weekly commercial sialewents wade it, 2,300,000 bales, Was really 2,500,000 bales; or froia 65 to 70 per cent of ihe aver age crop for tiv 's before the war. 2 Wooten Menwacture,—Inmaperfect statistics from seven States—Olio, Michigan, Indiaua, Lilinois, Wis- cousin, lows and Minuesota—show an increase under this head since 1860 as (ollows: Capital Sets of ma- NO, Of estdd> Ushinents, invested, ogra WS vu $1,016,740 637 5,448,000 " cion.—The recent average an- nual increase in the production of pig iron ta re- Markabiy uniform aad greaily in excess of the ratio 1840, 2,180,000; 1850, 3,538,000; 1850, 5,353,000, Exports and im, In 1840, $2%9,000,000; 1845, Oe 1350), $330,000,000; "1355, $50,000,000; Increase in shipbutlding—1842, 129,084 tons; 1845, 146,018; 1850, 272,219; 1855, 583,455, road constractio! pred sor nites: rots 256; Shar 66); 1849, 1,369 1 nilles: é P i 1859, 3,043 miles, 7? : Tn short, he insists that the pt of the coun- try, through what we ay teria the strengch of its elements of nag 13 independent of legislation and even of the impoverisiiment and waste of a great war. BEFROT OF THE WAR IN CHECKING NATIONAL DB- VELOPMENT. What would have been the progress of the country from 1860 to-1S70 had not the war intervened cannot be deflaitely determined, but that many branches of preconton would have exverieuced a development imited oaly by the amount of @vailabie capital and skilled labor cannot be doubted. In many depart- ments of industry the cost of sxilled iabor and ot Taw material in Great Britain and the United states very closely approximated in 1860; while food of do- mestic production and certain articles of import, SuCi as Sugars, teas and coifees Were much cheaper here. In 1860 American coarse cottons were obtain- ing the command of most extra European markets. 1a 1800 Wooden snipe, allowing for. quality, could be ballt chase in med fy radnege ghngen ed ar country; although the e ship! \- the United States, so much coon eaten began several years before the break- 1800. Lys. of increase of popaiation, the Jatter being about eo of the war. three and a half per cent, while the annual increase 1860 copper in the from the 2 the product of pig iron for five years has been as | United Le in profitable competition oe one vilows:— rot ANNUAL PRODUCT OF PIG 1RON FROM 1863 TO 1868, Tons. A. rates far lower than the average of Europe, 941,604 = the power of the wages paid was con- 1,136,497 19.82 per cent, | siderably than at present. 1,861,143, 9.50 per cent. But the war came, bringing with it certain inevi- 1,443,771 7.16 per cent. | table resulta, which now consusute the per contra 1,550,000 7.06 per cent, | Upon the national ledger. It seems contradictory For the seven years from 1860 (when the produc- | 804 paradoxical that while our resources as @ na- ‘tion was 913,770 tous) to 1567 the average anuual in- | tion have, on the whole, continued “go crease has been 8,45 cent. while we continue to possess the greatest area This increase is in excess of the increase in Great | fertile territory, the most unrivalled means of inter- Britain, which, since 1863, bas been a6 foliows:— Tons, Increase, 1m of government; while the 4,510,040 = protien oe the soil have continu: increased, 4,707,951, 6.71 per cent. ‘of the anvil, the forge, the loom and 4,819,254 1.03 per cent. | the jie have also multiplied, there is, ‘Decrease. ectnolate, hardly a single domestic articie sereseeesces 4,523,897 6.50 per cent. agricultural or manufactured, in behalf iron was in 1866 | of which the claim, either directly or indirectly, has In France the product of pig 4,253,100 tons, and im 1807 1,142,800 tons, showing a decline of 110,300 tons. ‘ Ju Austria the deciine has been much greater. 4, Copper.—The product of the copper mines of Lake Superior froin 1860 to 1867, inclusive, is re- turned a8 follows:—1860, 6,000 tons; 1861, 7,400 tous; 1s6%, 9,062 tons; 1863, 8,543 tons; 1864, 8,472 tons; 1363, hg tons; 1866, se tons; 1867, 11,735 tona, uring the same pecan e COP] matt Pacis Jargely decliaed, viz., From 15,968 tous in 1900 $9 11,163 Lous tn 1866 and 10,800 tons in 1867, + 5. Petroleum m 1362 was expats to the amount ‘of 10,887,761 gallons; in 1864and 1865, about 30,000,000 Soinlenies in white awiorn and in 1368, up bce! Oy 7 & Coal.—The product of anthracite coal is es follows:—1502, 7,499,550 tons; 1866, 12,379,490 tons; 1:97, 12,050,571 tons; 1668, to Devember 12, 13,600,000 dons. 1sé3 it was seriously adected by en and constant interruptions of labor; 3 would have shown a wuch a tucrease, ability te it—irredeemable currency, unt and heavy taxation and 8. ilithed supply of sxilied this head a few details are given from the of @ manufacturer who, before the war, exported largely to the West Indies and Sout i jat the conditions consutue, and and pa @s¢ maiuly industrial, have increased during } lavor advanced unequally. In January 19 goa the past year about three times as much as the popu- | gold, bought 120% dozen; O13 lation, dozen; and in January, 1867, only 893 dozen.’ Th 7. The Lake Tonnage, as the Chicago Board of | was the minimum, and for ‘1868 the rate has Trade show, was:—In 1864, 648 202,304 tona; | about 102 dozen for 81,00, gold. or nine dozen leas oi ateont ta ae tien tomar ‘natn Yee goes 3 Festa Goats, ia is oe Sete tensed sels, 27 ns. a pe aud’ ine But the clearances frum Chicago in 1867, | of furniture, and the channels of im vessels, tonnage and number of seamen were far greater than ever before. 8. Consumption of Sugar and —The import- consumed ed sugar month 1868 averaged ND 2, 144,760 pounds; In 1887 1 Was 70,084,480 pounds; a4 es Mr. Wells clies in 1365, 65,296,600 pounds. That of coifee, in 1608, | views 2 ee ene in @ letter printed with 8,294 tons; in 1687, 7,560 tons; in 1566, 6,999 tons, $i Paks el of which was published in Thirdsy—The continued increase in the ae ee two weeks con- clusion ts. the United product of the United States, whether measured by quantity or value. The tenth of the Sortuern States for 1867 were ‘to be greater ‘Luan those of aay previous year, ppp for the past year are Known to exceed those of . Some specitic evidence is given. In the State about 90 Onio the ‘nuiber of sheep iM 1865 is reported, s Pec ont walle © Giga ras nes tn cases of ‘26; Loés, 1,680,000, on Bp cent, iD ashe years the fogs of Ohio are reported as having more than doubled. Im 1968 there were | and inquiry proves that the average increase 1,400,000 flogs in Obio; ia 1868, 2,100,000, in the price ‘of groceries and provisions in 1367, aa The wheai, corn @ud oats in 1865 were 107,414,278 | compared with 1660-61, was 6% per cent; or, caicu- Dusvels; 1a 1806, 118,961,911; im 1868, 141,000, lated on the basis of a workman’s family supply, a Tae number of phan pacestiet the West for three rears is freported as WS:—In 1865-6, 1,705,055; (808-7, 2,491,791; 1567-8, 2,781,084. ‘This Jatter number was, however, exceeded during ‘the “inst three years of the war. The crop of Indian corn in the country ts said to facroase three aud one-half per cent per annum. vop of 1859 was returned by the census at bushe's, and at that rate the crop of ‘knowiedged to be a full one, must be esti (0,000,009 bushels, and at the low price ceuts per bushel would net over Th States the cotton crop of 1967-3 2,50),009 bales, or about 65 per cent of inclading clothing, 86% per cent; of fuel, 57 per cent; of hoase rent, 65 per cent. Bas this inelulles New land, where corporations own the tene- meute of their operatives and rents have not been advanced much. Excluding New England from tue calculation the average advance in rents for 1567, as compared with 1860-61, is much more, Thus in the smaller manuiactaring towns of Pennsylvania opera- tives pay about $1 per cent more and in New Jerse 1il percent. In the cities of New York, Philadel- hia, Newark and Pitteburg the increase has been 90 to 100 per vent, Gn the whole the increase in cost of the food, cloth- ing and shelter of @ famtiy has been about 78 per Lt average etop for dve years before the war; while | cent, as compared with 1860-61. foe the ~ loét-9 the estlinaces are in But the wages of the maa hi fa.or o 09,000 bales. ‘ihe results of the two | on the ai for the year a3 compared with ime interests of the South will, however, rially diferent. During the crop year 1807-5 th did not raise food suficient on of nat year were used to bu pay advances. Tuis year (1868-9) the soutn bas food eaough, and the proceeds of nearly the entire crop considered a8 a surplus for future deveiop- 1300-61—unskilled mechanical ‘avor, SO per cent; skilled mechanical labor, 60 per cent. are by them having been only about 75 per ceut—as board in manufacturing towns, 71 per cent; clothing, __—— ordinary boots and shoes, 60 cent. ied workmen who are uw wages from 65 to 70 per cent more than about a4 well off as Vefore the war. Mr. Wells bas prepared @ tabie sli ment Toe following are the estimated cotton crops of the south since (we termination of the war:—1566-6, 2,165,476 Uules; 165-7, 1,954,988 bales; 1867-8, the actaal earnings, the necessary weekly expenses for house 2,168 505 bales; 1868-9, estimated, 2,700,000 bales, rent and table, and the surplus for c! savil Phe rice culture, destroyed by the war, has been | recreation, &c, for @ large number faci restored, 80 that 70,000 terees are raised this year— | of various sizes in different parte of the e.cugu for home consumpusn. Aue Lob Co (ops sulce 1860 are estimated by the tude as follows:;—Iin 1069, 201,460,603 pounds; in 1s, 267,404,082 pounds; in 1864, 177,400,229 pounds; in iscs,” 183,316,963 ponnds; in 1866, $25,000,000 Pounds; in 1:67, 260,000,000, °ALLWAY EXTENSION AND MOVEMENT. 1825 the United States had bat 1,098 miles of Tailway, in 1867, 09,244 mules. Average increase, 1,\ 36 milles per year. In isdv there were built 1,846 sl only 621 miles, In 738 miles; i 1566; 1.892 mules in 1866; 2,227 miles in (09 inties in 1868, ‘Thus the rate of increase yj. Mr, Doors book on railroads at the earuings of tae roads in 1567 were oue per cent—in the Northern States twenty- per cent of their cost—and this rauo increases «is moved on these ratlroads are estimated country. He finds, upon ‘he ipo that, su) . fond general requirements for food, clothing and shelter to have been the same ja is67 as in I the operati: who received in 1-67 an average Of $15 96 per obtained in that year only sucicient to give them the actual neces- saries and most common comforts of life; and wie the same men, Whose average Weekly Wages in 1840- 1861 were only $1216, obtained with such earnings at that time the same articies of comfort or necessity, and nad in addition @ surpins of $1 41 (goul) per week, of $63 12 (gold) per annum. Hie regards it as @ fact, established by incontro- veruble that the condition of working men and women in @ majority of the manufacturing towns of the United Siates is not as good at the present time aa it was previous to the war, although r Wages are greater, im gold, m 1867-$ than they were in 1960-1, we Most of the persons, whose © jence has been collated are skilied workmen. But if their condition has pot improved, the condition of unskilied work- en, such as day laborers, teamaters, watchmen and the uke is even worse. Thus 4 careful comparison of @ large numberof returns from furnaces, miils, foundries and factories of every description, in almost all sections, establishes the fact that the aye- rage weekly wages of unskilled workmen for the years 1:60-i and 1861-8, respectively, were as fvl- 1OWS:—1860-1, §6 04 pes Week; 1867-8, $9 54. Assuming now that the jaborers expended their entire earnings in 1867, viz., $9 4, the same ne- cesearies and comforts could have been obtained in 1800-1 for $6 62 per week, leaving @ surplus of 62 cents per week; or, m other words, the unskilled workmen of the country, obtaining the mere neces- saries and none of the luxuries of life, were ina Worse condition by $27 4 year in 1867, with receipts of $9 54 per week, than they were in 1860-1, with re- ceipts of $6 04 per week. PRICK OF A BARREL OF FLOUR Before the war @ barrel of four represented the average Weekly earnings of an unskilled laborer, ‘The price of four has advanced from’ 1866 to 1864 more than 90 per cent; the price of iabor of ali sorts, on the average, 98 per cent, The laborer, thereiore, 1s not 80 well off in flour ag in 1890, by 40 per cent. This estimate is confirmed by retui Mr. Weils La Troy, Buffalo, Paterson, other manulactu: ct os well a8 from the cot- ton mitis of New Eugiana’ Op the whole, whether reckoned in money or in flour, it conclusively appears that the working wea ahd women of the country do not receive as iuuch in war, hivition of facts reurn jor their labor as before gokng setoner closes thi iy commending the system of Co. the ptores, for tue it benefits to the workin : ‘enabling them to obtain something Uk: market vane of their money in yoots and the | without paying the unreasonable amount now con j sumed as (be profits of middiemen aad retativrs, Lire Bivcanily. The ge at 45,.88,000 Lons, Worth §7,273,200,000, Im 1861 the BD. rehdadise tonnage was estimated at 6,000,000, ao tust the Increase 1s $00 pet cent, and in vaiue, say, $ ,5.3,200,000, or at the rate uf $400,000,000 per au- oun, During the ten years from 1968 to 1968 the lucrease oi tonnage moved on the ratlways of the United Btates bas been at a rate sixteen times greater than (he fperease of population, deegraphs.—tu 1866 there were put up about 2,000 mies Of wire; iD 1867, 4,000; in isé8, 6,000 mee REDUCTION OF STATE DERTS. Tae debt of New Hampshire tn 186% wae reduced (per cent; that of Vermont, 16.2 per cent, as against 1.7 cent in 1867; of Rhode Isiand, 13.7 a i one par cab Misclnes, pry al per comty Ublo, 4.5 per cent; r cent, aud indiana, 25 pet cent. During 1867 and 1068 lilinots reduced ber debt 30.6 per cent, while New York, 4 & largest state indebted- . 10 per og” and 7.6 per cent. West Vj ia, Kentucky, lowa, Wisconsin, Nebraska aod Minnesota have po State oeuls, A NCIRS CONCERNED IN NsTIONAL DEVELOPMENT. ir. Wells next inquires:—-To what agenc.es is seemingly fabulous national it to be alirbuted, and to what exten: te i to be eeuerred. 10 re in hes sue have been Serie tectuory, greet everss teent inter rime rritory, bu Ae amupication, Sendant and cheap raw siaterial \d cuversity without inaalubeity of cimates and -conaty, @ form and spirit of government which ewiore has man aud capita’, over an ares S\uivat continental, free and onrestrained to work out their own developmeut. Since 1840 especial! cuer agencies have aided. these adjuncts: erauoa, imyenton, wachinery snd extension of rewaya, also the purchase of Cailfornia ciscoveries of guid on the Pactia taruf of 2946 it was de- | e GENERAL INFERENCES, sve'n or hank of nuwound thread oe rae of eight Finally. Mr. Welis conciaiea:— | hundred and forty yards, and, in addition there.o, ‘the a? -regate wealth of the country (® increasing, | thirty per cent ad Valorcim, which amounted to pro- robably, as rapidly as at any iormer period; yeiit | Ribitiou. But it was soon found that the fine cottoa | does no. for ow that there ts the same increase in | tircadsor yarns, thus exciuded, were needed for gengeal prosperity. The iaborer, especsaily ene wiih | Taany other purposes than for sewing, and that some a large amity, ot a8 prosperous AS M156), Tayre | Of tiem could not at that time be furnished under Ban inequali a distribution, OWing largely to | any circumstances im this country. They were artiiicid: causes. For example, amonz the working | essential for tue manufacture of elast'c fabries, for ¢lasses un varried operatives gain, While those who | suspenders, gaiters and other products; and these support families lose, Hence deposits tn savings | manufactures would have been utterly ruined could banks increase, while marclaye ts discouraged, aud | th> duty have beed collected, the lorcea emp oyiment of young childrea is made Tie Treasury, ufter a mine prpeteally, nullified the ia necessity. se duty by its interpretation of the law, and skein yarn, This is an inevitablé result of a fluctuating mea- | &c., are still imporied at the rates existing before sure of Value, viZ.:—Inconvertible paper mouey, it | 1304 is clear a prewrt that tue use Of such money ins olves @ most oppressive tax, whieh fails heaviest upon the laborer and lightest upon the owner of capita. An- tagonism is produced where none ought to exist; (Ne capitalist is forced to charge an additional profit for the increased risk, and tue consumer Gf tos, COoul- modity is forced to pay for such risk. Such ts the theory of the eifects of inconvertible paper money, and the facts prove it, The rich become richer an tae poor poorer. TAXATION. But second only to the influence of the currency in this direction is that of taxation, In this couuty we have three kinds of it:—Taxation unser the li- ternal revenue, taxation under the tarli/aad State and local taxadon. NATIONAL TAXATION UNDER THE INTERAL REVENUR. At the ciosz of the war the internal reveaue taxes had been extended enormously and were aluiost universal, Nov only manuiacturers were taxed, but generally every constituent wiicu entered into the composition of them. Tals was one of the wisest and most successful measures of the war and ougat to have been adopted earlier. The revenue actually collected from the inauguration of the system In 1863 to the guth of Juue, 1383, has amouated to over eleven hundred iilitons of dollars. At first, owing to the enormous consuinption of the aa. and the withdrawal of labor trom other occupations, these taxes were not to most producers at all oppressive, but often increased the price more than the cost to the manufacturer, and go added to hts protits. But afver the war prices fell, and {t becatae evi- dent that a system wich violated every principle of taxatioa; which brought wita it constint omcial in- quisition3; which provoxed to concealment, evasion and falsehood; whicu, by duplications and ensance- ment of profits, took far more from the pockets of the ple than was received into the treasury, could not exist much longer among a free'peop.e than necessity enforced it. The digerent reforms which have been made, although they abandod at least $170,000,000 of an- nual revenue, have done no, lasting harm to the na- tional revenues. ‘This great relief from taxation hus both stimulated and strengthened: the productive interests of the country, and thus the perlod within which the national debt can be discharged has been shoriened rather ‘han protracted, THE INTERNAL REVENUE SYSTEM A GOOD ONE. Mr. Wells regards our present system as very simi- lar to that which experience has approved in Great Britaia, and thinks that 1t needs but few changes, es} rectally the repeal of the taxes now levied upon hey and express companies, upon tie gross ipts of railroads, steamboats and other common carriers for the transportauen of ngers, and the percent taxes.on the sales of merciandise; the — receipts from ali of which is less than one-half e annual expenditures during the last two fisca) “bene for the: equalization of bounties. When this as been done our enilre internal revenue system ‘will be, ne thinks, wholly subordinate to the more important end of creating national wealth. PRICES HAVE NOT FALLEN ENOUGH, It is noticed with regret that thus far the abate- ment of prices consequent upon the large annuai re- duction,of taxes has not been what the large amount of revenue abandoned would warrant. Several arti- cles, as pig iron, manufactured jumber and salt, THR TARIFF AND SHIPBUILDING. Mr, Wells ipecendn $0 show that the attempt to protect shipbuilding has broken down under the at- tempt to protect copper, cordage, canvas, &c., and this universa! taxation has so extended to every brinch of production “hat if ships available for foreign ie Were to-day furnished to hand, without cost, their use must be exceedingly , for the reason that the high prices of all domestic cow- modities would eifectually prevent that exchange with fore:gn countries which in itself constitutes commerce.” c TAXATION OF LUMBER. The duty on lumber is twenty per cent ad valo- ren, which rate, with the importer’s percentage, ay. be considered as equivalent to twenty-five percen' Now, tie demau@® increases steadily and prices of the cheapest varicties of lumber in the Albany mar- ke®have advanced since 1861 about one hundred per cent, Foreign lumber being absolutely essential to the Sees of the country—a fact generally con- ceded—two things follow:—First, that the duty is paid wholly by the consumer, and is therefore equiv- alent to so much direct tax; and secondly, that the price of the Imported article regulates the price of the domestic product. Or, in other words, 4 tax on the {maportation of foreign Jamber becomes also a tax upon the consumers of the whole domestic peoduct; with this dimerence, that in the one case tie pro- ceeds of the tax into the national treasury, and 1n the other benefit Sxoluairely private interests. Let us now see to what respective taxes amount, The value of the rough lumber imported in 1368 was about seven and a half millions of dot While the value of the domestic product is estimate at fitiy-four militons. For every dollar taken in the form of a direct tax seven ‘are taken indirectly through the increase of prices; or, in other words, * $2,260,000 currency are received into the Treasury at an indirect cost of about sixteen millions, And this is not all; 25 per cent ou the increased price of lum- bee means 25 per cent tm the increased price of houses, 25 per cent in the increased price of vessels, of fences, of railroad ties, &c. These act on wages and on other materials; and thus the wave of taxa- tion continues to extend and enlarge until no man can measure the breadth of its influence, breaking ultimately with its full force upon two classes of so- ciety, viz.:—Those living upon fixed incomes and the day laborer, for neither of these cun increase his in- come as a matter of compensation, And all this pee erican in- been done in the name of protect to Americ) dustry, it 18 plain, on principle, that lumber onght to be exempt from all duty. Nor doés it need any; the in- terest was prosperous under the reciprocity treaty, when lumber came in free; and since the war began lumber has advanced in price far more than the average of other commodities, TAXATION ON SALT. Mr, Wells next shows that salt is now burdened with a duty of from 100 to 170 per cent. In 1860 the duty was but fitteen per cent. A still higher duty is demanded by the producers. The manufacture is practically @ monopoly in the hands of two great companies; aud the sworn testimony adduced by the Commissioner shows that they have made enormous profits under the present daty, and that the interests of the whole country demand the re- since the remove of taxation, have Co oe duction of eee reid inoie ik eel’ vant while upon others, as uitaral imple ments, sewing ret skirts, manufactures | _ The duty on pig fron is nine dollars, gold, or over fact most articies are the pro- | twelve dollars, currency. It costs to make a ton of ducts of monopoites, the repeal of the internal tax pigaron. in the United States to-day not more than has only legislated a bounty iuto the pockets of the renty-aix dollars currency, and in some per ing price of Nos? nad pig won tn the, markets of joa. pig iron im the ° ‘the United States for the last year has ranged from thirty-seven to forty-two dollars per ton. ‘Thus the manufacturers of pig iron have, to the detriment of the rolling mill and to the ex- pense of every consumer of iron, from a rall to a ploughshare and from a boiler plate to a tenpenny nail, realized continued protits which have hardly legitimate industry, the idle ee mmisstoner, showing Sow Product of 35,000 tous, on a capital of i“ 000, 801d at @ profit of from ten to thirteen dol- per Surely the makers of pig iron ought to join all the consamers in asking Congress to reduce this duty; but “the commusstuner has not heard that any such movement has been contemplated." NATIONAL TAXATION UNDER THE TARIFF. ‘Mr. Wells remarks that the oid issues of free trade ‘and protection have iost all im portance, inasmuch ag we must have aiarge revenue; and, these being necessary, he thinks there is no good ob- Jection to distribu the additional taxation in such @ manner as to favor those branches of indus- Faere exposed to foreign competition. tax aystem of England is devised to remove burdens, to cheapen cost and reduce prices; Our me: on the certanee. 560 levy @ tax, thereby in cost and luctng consumption, The one method may be called a bounty to the con- sumer, the other a bounty to the producer; one the method of abundance, the other of scarcity or pri- vation; and as our main difficulty at present is ex- cessive cost and high prices, we would do well to and study the lesson which it teac! The RESULT = Neorg (rat apt ESSENTIAL FEATURES OF THE BXISTING TARIFF. condition of afairs We have so raised ‘The basis of the existing tari ls the uct of March | the cost of all domestic products that exchatge in sim enhee elever? fimes; in July 14, 1862, ard aie with all coos: masons i aa ling june ost anew. they already The rate of duty im Uy te existing tart bas | tw, we must or wil have," What foreign nalious averaged for the e years ut 48 | Want, and we produce—cotton and a few other arti- percent, Add to lets insurance and com. | Clea excepted—they can buy elsewhere cheaper. We Ww ry ives constitute a natural | #te therelore obliged to pay in no small part for such ahd unavoidable tari, ‘amount to 10 or 15 per | foreign productious as we need or will have, either cent more. Duties were |i increased in the in the ryeeeesmne oe eee 2 unduly acts of June 30, 1864, and b , to compen- sate home industry for internal revenue toxes. ‘his is illustrated by the trade of the United States t since July 13, 1860, the internal taxes have | With the tine Republic in the article of hides, been jed on almost all domestic with. we import thence in large numbers, returning out eh: in the tariff. This is equ! nt, in point oe epee ~ pegs Le: ally hears we ot —e to a mininum increase cent in gold and ailver oo! ee are ccainee ny" pod On liquors it is oqual to 40 per cent In- crease. Yet these rates, the rome fiat (oH apy civilized nation of modern ti do not he claimants f ‘has explained party bythe cond precious metals. Other nations are increasing their @xjorte thither, while ours remain stationary, or de- crease. core sia of the | INVLURNCE OP TAXATION ON COS? OF PRODUCTION. Pin but ry the Seren ae ‘On this subject the Commissioner ms a ee dicious attempts itself. | rate coi een, on Since the war revenue iteelf has been systematically | taxation is adjusted among rent interests in made subordinate to the protection of inter- ad and France, and the want of principles in ests in levying new duties. ite adjustment here; showing that a propor- Thus, Mr. Wells remarks: interest that a.ng of taxation amon, Interests which ir has been strong enougir or at ly persistent to can lighten the on the in- secure efficient representation at Washington has | qustry of tue country. He suggests to several received @ fall measure of Cente evel ‘States the of this question; bold- other interest that bas mot had suMcient ing “‘that if any determine to adopt a behind it to prompt to ection has been 1 rs ‘of local analogous to that treated or entirely ni ted. Thus, let one | nized in Great Britain or France it might confident! at the great departments of wool fron, | anticipate a very influx of capital manu- wWiil Oud that the duties on ali the leading | factures from thereby rap- prodncts have been increased, harmo- wealth and development and nized and adjusted ina jt in accordance as an ultimate ult, compelin ‘with the wishes of those interested." oe Tes other jta‘es to adopt the same liberal and enlightened policy as & measure of defence and protection.” PUTURB FINANCIAL POLICY. onweh Some now arises, what policy of legis! a- tion will be most advantageous tothe revenue and most certain to establish the credit and industry of the whole country on a sound end substantial Such « policy must not only recognize the'existing condition of aduirs, Dut must be, at the smaliest ex- TARIFF ON DRUGS AND CHEMICALS, Now, in seins, ment of Ane and chemicles, Wik eaeeoeeey one half of all the articies on which a duty is In this department everybody is directly interested. It regulates the pi early all medicines and remedies, from the expeusive alkaloid that a from malaria to the cheap infusion of the humble housewife; the gums of the varnish maker and paper stainer; of ali ewoods, dye extracts, reaists | tent possil an Vioient un- and mordanta; of sulphur and the hitrates that ty ity are, of all things, what the form the basis of the great commercial acids; of the | pusiness interests of the try have most reason salts of artificial manures; of all the re: ta and | to dread. Tney want the determi testa of the chemlst; of the materials which assiat in | nition of a clear, well defined and practical issue, to the weiding and polishing of the metals; of the easen- | he attat a and tial oll# that constivute the raw material of the | though slow, movement. Can such a policy be de- perfumer, the soap maker, and manufacturer ’ Can such an tssue be consum: of extracts; of the great alkalies, bleaching powders nd antiseptica; of all photographic salts and pre- ; the enamels of the jeweller; tae duxes of he glassmaker; the astringents of the tanner and leatherdresser—upon ail of these and many other articles and products embraced in this em ‘the duties are discordant and serve no g permane atali, ad valorem being mixed up with yn and neither having we slightest regard to or use of a product. On some articles, like optum and the alkaloids, the duties are so excessive that the chief import is already made through the of the smuggler; on others of corresponding use and cost the duty is nominal. On the drugs used as medicines the duties which might be made specific are generally ad valorem and 60 high as to be a bounty for the importation of the worthiess material which all other markets have rejected. On some of the varnish gums, articles which com- paytuen:s; second, jebt at a lower rate of interest; third, reduction of the cost of national production, with a view of enabiing the products of American industry to com- pete on terms of greater equality with the products of foreign nations than is now possibie. He then inquires what elementa are ready at hand for the accomplishment of these resnita. RECEIPTS AND EXPRNDITURES FOR THE CAL YEAR ENDING JUNE 30, 1868 ‘The accounts of the national Treasury for the fis- cal year ending June 30, 1868, sow an of receipts $406,088,083, and of ex) res of $477,40,284, leaving a balance to the credit of in- come of $25,207,798, not including in expenditures the bonds issued to the Pacific railroads, For the current fiscal year, ending June 30, 1869, estimates =the ein no degree with any domestic product, the issioner receipts at Baty is more than the cost, while in Teapot 00 $396,100,000, and the expendt:ures at $5217300, 000, more duty ts paid to the government by the a leaving @ surplus of say 000,000. This estimate, tic glassmaker on the imported raw materials ased by him in his business ihan is received from table glas¢ware of foreign manufacture. Now the reason of this is that it has never been mace the special interest of intelligent and influential parties wie this matter upon the attention of Congress, the claims of the great special interests have been too urgen( and imperative to aliow time to consider them. ‘Two years since the Commissioner, aided by some of the best experts in the country, submitted to Congress a complete revision of this branch of the tari, His work, however, was not ouly not ac cepted, bat was complained of as useless, INDISCRIMINATE PROVECIION BY THE TARIPR. Another feature of the existing tari ts that 1 at tempts uniyersal protection, an idea which renders all protection a nullity and does more for foreign as compared with domestic industry than almost any other ene agency. Ail products go through several stages of progress, like the resuits of tons come, on ae basis of a very imperfect revenue , FOR THE YEAR ENDING JUN® 30, 1870, Mr. ae looks for an tree ae ooo bere ee A saving of expenditures from tue incr ase of the country in wealth and popu- lation, of $25,000,000 from the termination claims for pay and a and a goin from the farther general reduction of national ex; which might be made, he thinks, nearer 100,000 than $30,000,000, though he places it at the latter ri vpurther, | mam De 2 by L yeas aix ha t Years irom to 5 : ro The ‘reform ot the revenue adminiseration might be made to add $75,000,000 to the internat revenue also, On the other |, the miscelianeous receipts from the premium on gold wili fail of, and there a be unforeseen xpedlures Bat, ail f ‘Treasury have an avatiable LTRS ati tat fata Socom | ganna. Mo ey se other. x were Uailf apportioned —as if ali duties were {n reaned DY roireeh qraaen m aretiases grants, pr.vate claims of purchases of for- eign territory. Rirequires rigid Lee J of adminia- jon and honest the purposes the govern- ment concerning \he debt. | RESUMPTION OF SPRCIF PAYMENTS, Mr, Wells’ pian ta simply to uve half the sorpius revenne, or fron two to two and a half per cent on the whole debt, regularly, month after month ee es eee to parchase in the o; market and iocance: 16 gold interest-bearing obi of the government, #o long as they can be ed below ar in gold, And at the sarne time to make the | der notes, under certain restrictions, convert into interest-bearing bonds. He thinks the value of both bonds and currency might thus be so greatly and so rapidiy evha as make resumption of fpecie payments a matter of much leas dimiculty obe act ten per cent—prices after @littie would be adected uniformly; all raw material of foreign pro- duction or those of domestic origin Whose price is reguiated by the foreign supply would rise equally Od the coat of vias would relatively reumaain ag before. Butif the tax were not uniiorm, whal- ever was iaid upon @ raw roaterial would redtice protection to the product obtained ‘fro: its mana- jacture, Lif fact, it le hard to say wiat is “raw material.” Thus, coal isthe Mnished product of the miner, but the raw material for the manufacture of. pig tron; pig iron becomes the raw material for bat irom; bar iron for machinery, machinery for textile fabrics, textile fabrics tor clotwing, and clothing for te laborer, whose efforts in the single depart t of agriculture determine the national prosperity. Besides, tag number of persons empioyed ia these than it now epp are. : se@verai stages '8 very various; thus inure persons 119 implies ¢ ntraction of the currency. This he ing clothing in the city of pteters nth ‘attempt to hoard goid ate employed in Boston alone than tere are in ali the woollen tntilé of Massachusetts; while the number of jaborers ployed in agriculture is far in excess of those im ail other industries combined. Hence in making a tartif, whether the object aimed at be revenne or protection, discrimination is needed, founded a ge os of the whole body Of interests In- voived. he mye he to redeem ali tl ie Hi trnction of iast dia ny fens harm. He con a harm. ia wining that Lae ~ “ideation lowe as the government circulation > T FOUNDING THR DEBT. On this point Mr, Wells shows that, the govern- Ment credit being depreciated, funding at a lower rate of ‘terest only eucrifices in the price at which the bunds are sold the apparent gain in the rate of A STRIKING INCIDENT. In the year 1864 the mannfacturers of spoo} rv ascertained that ah thread wae being b interest ; that the fuading, to ve of any value, ed 8 Yarw cinder utntrty-tva por cont dat, Ps”) | must be Wilan the nation’s credit 19 restured, ‘wards @povied In the \ n ted States, eva ifig GOLD CONTRACTS. i thread. Accordingly the tariit was pf Mr. Wells urgentiy recoinme the immediate duty of four ceaia was imposed upon each passage of jaw legalizing contracts invoin. He one ed, certainty and eqi and the prevention of undervaluations and tne ab- rogation of the privilege which enables returnins tourists to 1mport, free of duty, an amount of goods ne to their real or supposed social po- in. J The Steamship mpany pass along out but in winter, when the weather is stoi miles tm former during,the winter spread across and therefore when it is stormy in the Atlantic it ts stormy in the Guif of Tehuantepec; for the fat land of the isthmus tn! the Guif of Mexico on one side to answers the objection that holders of bonds, tc., will call in loans and renew them at higher rates; showing that the risk of depreciation im money 18 now reaily charged for in loans, and therefore the rate of interest for depreciated paper is always higher than for gold, REDUCTION OF TAXATION. Under this head, Mr, Wells argues on general P pereeg in favor of discriminating by taxation for ‘he protection of special interests; but adds nothing new to the familiar arguments for this notion, and gives no tacts to support thei, WAGES. Mr. Wells has collected some interesting statistics on the comparative wages paid in the United States and in EOwRe. ‘These are given in an appendix to the report; but he speciiles a few instances in the Manufacture of Cotton,— Average excess of wages paid in the Uuited States in 1867, over those patd for correspon abor in Great Britain (both in gold), 8546 per cent, A reduction having been made in the wages of some operatives in cotion silis during 1403 of five =p cent, the excess over the average rates se Great Britgin is thereby Fegnces to 28.7 per yn In Belgium, from an examination of eas complete data, the average depression 1a wages, as com- pees i the United States, appears to be about 43 In France the average weekly earn! in manu- factories of cotton are as. follow: len, $4 27; Haat tanh eal tales path » eekly wages of adul i francs, or $2 98. eas ¥ Man factures Of Wool.—The average excess of Wages paid in woollen milis of the United States in 1867-8 over those in Great Britain, would appear to be about 25 per cent (24.53 per cent); and in carpet and other worsted milla 58 per cent. in Making Firearms the wages in the United States are 66 percent more than in England and 105 per cent more than in France, while tie rates in England are 24 per cent in eXcess of those in France, Iron Founding and Machine Butlding.—Average excesg in wages paid tn iron foundries and machine shops in the United States in 1807-8, over those paid for similar labor in Eugiand, 53 per cent. Price of puddling tron per ton in New England, $5; in New York. $5 50; New Jersey, $6: E Pennsylvania, $6; Western Pennsylvania, Western States, $7 60; average price In currency, $6 12%. Average price in gold, United States, $4 8734; England, $2 3734: Belgium, $1 20. COST OF PRODUCTION. ¢ Mr. Wells shows that no legisiative protection can restore the producer in this country to @ level wilh European competition, The productiveness of in- dustry is one of the most essential clements of na- tional prosperity, and is that which gives England her superiority to the Continent. He asks poimblediy it American labor has no superiority, even to Eng- lish? The protection it needs is sagacity, energy, economy and the use, to the utmost extent, of its natural advantages, ‘The tariff legislation of the country has hitherto neutralized all these advantages. It has raised the rice of coal and raw material, and it has offered ounties to incompetence and bad mauageiment. He gives illustrations which show that py pro- ducts which have lately claimed protection do not need it atall, It hus destreyed foreign commerce by preventing exchange in kind. It has repeiled the immigration of skilled labor. In short, and on the whoie, it is plain that what the country needs 18 @ taruf looking urst to the attainment of public rev- enue, and not primarily to the furtherance of mere vate interests. pri ‘THE FUTURE OF AMERICAN INDUSTRY. Under this head Mr. Wells points out some of the considerations which point to an immense end Tapid development, from natural causes, of the pro- ductive mage of the country as inevitable. It will come by the demand of the world, and espe- clally of our own increasing population, for the pro- ducts of that tdustry, and not by legisiation. ROOMMENDATIONS. The Comminopet. adds:— With these ings and convictions he would therefore prove untrue to his trust did he not here enter his most earnest protest inst further increase of the tariff, but would, onthe con- , Yecommend— An enlargement of the free list. reduction of some rates of duty, and, a8 aD exception, an increase of a few others, with a view to the increase of the revenue. Third—A redrction of some rates of duty, with a view to an absolute abatement, on the simpie ground ped reduction of a duty is the reduction of a tax, that the most efficient method of protect- ing home industry is by the femoval of obstacles in the form of taxes. Fourth—The conversion to the utmost possible extent of the present ad valorem duties into spe- ciflcs as the only jicable method of insuring ity in the assessment of duties A STORM ON THE PACIFIC, Constitution in a Storm— Narrow Escape from Shipwreck—The Top- mast Carried Away and Rudder Disabled She Drifts Forty Miles in the Gulf of Tebunntepec—Safe Arrival at Panama with Jary Rudder. ‘The Pacific Mail Company’s steamship Constitu- tion, Captain Hudson, sailed from San Francisco December 14, with passengers, en roule to New York. [They arrived in this city yesterday on the Rising Star.) The Constitution encountered veg stormy weather, and at one time was in imminent anger of becoming @ total wreck. The vessel, ap to reaching Acupulco, made excellent time. She kept close to shore, the ocean being a8 smooth and even as the face of a mirror. Tonamaca and entered the Gulf of*Tehuantepec December 22, Tonamaca is a point on the Mexican coast from which @ start is taken to cross the Gulf, which is about two hun- dread miles in The ship rounded length, or, tarn tated waters, make a@ ciroult Noi ong coast ne oentee: the Pacific at a point that may considered the northern oor of Guatamela. In the summer season the ships of the Pacific Matl the mouth or entrance to J , for the coast is hi |, and & led to the feaies to Panama The district of Tehuantepec 1s tn eee the most southern of the Mexican States. peparates the Guif of Mexico @ Pacific is not more tian 150 The gules that prevail in the the Conu! no otgtacle to the blasts’ of sto their fary on the ordinarily placid waters of Pacific, It for this reason steamships plying between San Francisco and Panama sail on di courses in winter and tn summer, as far as the Gulf of Tehuan- tepec Is concerned. ‘The sea rons very high oif shore ‘at this season, though after | 0g something of ciose shore weather about a for@iight atnce it may be salely stated that if it were mach worse outside than ‘what the Constitution experienced in sight of land prayers would be exceedingly apropos for the salety of ships and passengers that might pen to be im ‘that ill-starred locality, TUM DISASTER IN THR GULP, After passing Tonamaca, the Constitution soon reached Ventosa (Spanish tor “Windy Hole”) and pursued the course usuai in winter—that is, close to shore. ‘The weather was pleasant and caim up to midnight December 22, The wind now sprang up and continued to grow in viovence, when the jib was Bet to steady the ship. At the end of two hours (the sea meanwiile, though a remaining high, waa yet short and snappish) foretopmast was carried away, striking the deck and causing considerable damage. Shortiy before daylight the twisting of the rudder also gave way, and the salp was left without big D apparatus and, in plain verms, at the entire mercy of winds and waves, THE RUDDER. After this occurrence the engines ceased working, and active measures were adopted by Captain Hud- gon and his officers to repair the damage sustained. ‘The first and most important business was to put the rudder in orler. It was discovered on examina- tion that that portion of it above the main deck was com; d of timber much decayed, and that it be a to steer the ship by art of it below the maii deck. The i r mates and boatswain (Carroll, Rich- ardgon and Noonan) were placed in char, of working parties, who at Once commenced to rig spars, with ropes and chains attached to blocks, 60 as to bring the, jder under control of the wheel. ‘The rigging of @ juty steering apparatus Js tedious and res no small share of nautical Axil, It is necdjese to state that @ Vessel at sea ‘without a rudder is in just the same condition as a tub would be if placed afloat in the middie of the ‘ocean, Fortunately for the Constitution, the wind blew from the land; ise there wi not have been the slightest chance of her * being ariven ashore and to pleces, The sva was run- ning high, the waves, a8 far as the eye could reach, were covered wil silvery white ff and those ‘Wat struck the ship, a8 she rolled ho y in the pasa of the ocean, shook every timber from stem stern, JURY STEERING GRAR, t is a dificult matter to arrange @ jury ing for a vessel as | a3 the Constitt tion, When ‘@ gale of wind prevaiis, With a short, ugly and chop- ping sea running and the ship close to shore, com- pletely at their mercy, the 6: is rather a #e- rious one and sufcient to make the stoutest heart quail, As byt known oe Lat in course of and even mporary ex; a preparation might fail to work, ‘The officers steer of the ship seemed equat to the occa sion, aad hard to finish the jury gearing. Heavy spars, While the wind blew with extreme violence, were stretched across the main and harrt- cane cornea several feet below the at each These were secured after ten ’ jabor ima Very complete manner by means of ropes and chains and placed in connection with the deti- machinery of the wheel iocated on the forward THE DAMAGE FINALLY REPAIRED. ¢ Constitution was placed for the Gry the didaster ander the control of the Helm at hati. ast three P. M, December 24, having drifted seaward forty miles during ten hoora from the point where her rudder Lecawe uumauageavie, aod which Was 190 miles from the Gulf of Mexico, on the other side of the Continent, The ship. » placed before tne wind, did not act weil; she lis! ‘earfully, and matters Wore anything bat an encourag: aSpeok, After half an hour the jury steeriny gear po § it of order; the engines were again sto; ped and the ves- sel was once more at the mercy of ‘Wind an) Waves. By five o’clock P, M. ail azain’ Was 11 order, and aiter steaming twelve hours the Costa Grande shore, ow Guatemala, was reached. ‘The f gers cone sidered their escape q!most providential, and felt immense relief whea the ship pursucd her course on the Paciflc to Panama, PERILOUS SITUATION OF THR SHIP, During the many hours the Constitution was drifting about some apprehension was felt that the rough usage she was rece.ving might so sree timbers as to cause heavy leaks. As ment before uhe seas that struck her told sev on her upper works, and it was with the utmost diMculty @ person could maintain a footing on the decks, The men at work on the spars had ropes lashed around their waists, the ends of which were heid by others: on board, ‘The boatswain (Noonan) particularly dis- tinguished hiinself for his coolness aud fearlessness, a3 at times a portion of his body waa submerged im the sea, and the next moment he was to be seen elevated high in the air. It turned out that no leak oceurrea, but what would have happened if the rud- der continued unmanageabie during the night it ta: easy to imagine. BE TuE CREW. The Pacific Mail Steamship Company have a large: number of Chinamen in their service. They act as laborers on shore and as sailors on board thelr ves- sela. The compensation they receive is much below that paid white mea, and, as 13 well known, power- ful organizations exist in California to check the immigration of what are calied “coolies.” The Constitution had a considerable number of Chinese hanas, and truth requires it to ve said very few of the class of mariners generally known as able-bodied seamen, The fact is that when ‘anytming had to be done requiring skill or experience the actual labor had to be performed by the oiicers of the ship them- selves. Itis true that the voyage from San Francisco to Panama in nine cases out of tea is made without encountering severe weather; but at times storms occur, and it is a serious question if Chinese are the right material to work sitps in such emergencies. Certatly, the passengers on the Constitution would have felt far more at ease if the crew was composed of such men as are to be found on the Rising Star. PREPARATIONS FOK THE WORST, fi During Wednesday, 2id uit., Captain Hudson, while giving attention to matters on deck, did not overlook taking the necessury miecasures for ther safety of passengers if the worst came to the worst. ‘The life raft was prepared for instant use, as well ag the ship’s bouts. The saloon doors were closed and lucked, with the exception of a@ small portion or the mam entrance, and similar arrangements of pre- cautions were carried out in other portions of the vessel. It was hardly necessary to have taken the latter trouble, for the passengers were a3 cool a8 the otticers, and looked upon the iatter, amid the howl- ing of the winds (and there is no exaggeration in using the word howling”), with the greatest com- posure. Ajl—then and women—knew there was un- common danger, and that their lives depended upon the wind holding on oif shore, and that at least the chances of reaching Panama or some place of safety rested upon the uncertain chance of the jury rudder being equat to the task it would have to undertake, r The steerage passengers and a number of guilors. from the United States steamer Pensacola, returning home, worked very mantuily during the day. Captain Bursley, of the bark Moneta, who was & pas- senger, also contributed his valuable services at a moment when real, practical seamanship was of the firat consequence. NECESSITY FOR GREATER CARE. The amount of space occupied in describing this disaster to the Constitution may appear too but the experience of tea hours sucn as mention ig more than enough to sailsfy any person of the poset the sea for ® lifetine. Very often the ship over one thousand passengers, and if it had so ") as many were on board two weeks. since the panic that would have arisen wonld have certainly resulted in most disastrous consequences, As it was there were but @ limited number, com- posed of persons not strangers tw dangers of every kind, and Crane te A a3 remarked above, they were cool and unmov But the disaster should ab least have this effect:—A more thorough examina- tion of steamships before proceeding to sea, aud om the Pacific coast the employmeat of more experi- enced’and eificient men before the mast, MORE STORMY WEATHER. To resume an account of tle voyage to Panama, It. ig only necessary to add that the yury steering gear worked well to the last. On Christmas Day and the day following the weather wus very bad aud the Constitution had all she could do to face the se: which was running very high, It was natura enough that apprehension shuuid be entertained as to the rudder, for 1f it gave way azain littie hope for safety would be leit. The vessel was run with & moderate pressure of steau, and arrived at Paname Monday, Decemper 29, at ten ’, M. She was about tweuty hours behind scnedule ie. Before reaching port it was stated on authority of Captain Hudson that he would have the vessei ready for her return to San cisco at the appointed time. Arrange- ments were made to hoist tne rudder out, to be re- placed @ pew one, and it was believed that re- pacas e foretopmast carried away would be e work of only a few hours. But tt was undoubt- edly the opimon of every one—both landsmen and seafaring—that ordiuary prudence demanded that the Constitution should have a pretty thorough over- hauling before again venturing with haman ireignt to encounter “the dangers of (ue deep.” HURRICANE ON THE ATLANTIC. Terrible Hurricane on the AtlanticThe Steam- ship Arago, from New York for Breimeny Driven inte the Trough of the Sea~A Night : of Anxiety and Suspense. Fatmourn, England, Dec. 19, 1868. The North American Steamship Company’s steam- ship Arago, under command of Captain George W. Browne, left New York on the 2d of De- cember with fifty passengers, a crew of ninety- two men, and 2,700 bales of cotton on board, destined for Bremen. Nothing worthy of note oc- curred on the first part of her passage except her having to contend with stropg easterly winds and heavy head seas. The morning of the 1ath of De- cember was ushered in witn a heavy gale from southwest to west-ndrthwest and terrific squalls, causing a fearful agitation of the sea. The steamship was then under close reefed foretopsail and reefed toresatl, before the gale. By noon of thatday: ee anady eoeteoh oe Lege ty ruu- ni mountains high, dasting the spray over her 8o that she Was neariy enveiwped by it. At each plunge she made into the mass she we seem to have reached an abyss; but majestically she would rise, her whole frame tre! , but still obedient to her helm and fairly ying before the violence of the siorm. The gran- deur of the spectacle, as witnessed by those on ber decks, was indeed tinpressive, but awful to behoid. Even those accustomed to sych scenes by long ser- vice on Neptune’s domains could not but be appre- hensive of « should there be no decrease th the violence of the hurricane, but froia minute to minute hour to hour the tempest grew more and more jous, Ata bene past three ?. M. the bong an- ticipated but dreaded mormesit arrived, when an- other terrific squall struck the ship and caused her to “broach to,” notwithstaudiug her helm having been put hard ups aud @ large fore- i and reefed foresail being set to guard against this event, As she now lay in the trougu of the sea, lurching aud laboring tremendously, sie =< several haa! d heavy seas, wiich tore two of her lifeboats from their davits, staving another and carrying away @ number of the stanchions aul the greater in of the starbodrd mai rail, leaving the after smokestack guys fying about in toe air. the second officer was struck by oue of Unese seus, kuocking senseless to the deck, whence he was carried to his roout, having sustaiued severe bruises about the head and limua, At 7:30 P. M, tne sea was making a clean breach over the vessel, starting everytiiug movable on the decks from its lasiulugs, and @ sea breaking the skylights of tie main saloon, Wherein @ large lumber of the passengers had been placed for greater safety, and volumes of water forclag weir way into the cabia, a cry of consterna- tion and horror could not be suppressed by those below. Dining tabies were torn trum their fasten- ings, mirrors, crockery aad glassware smashed to atoms, and as sea upon sea poured over the decks and into the saloons, engine and rooms, the compiete destruciivn of the steamship - and ali ou board Cy @ foregone conciuston. ‘Total darkuess had now set in and with it Increased the peril of the situation. The lee wheelhouse wae . aimost constantiy buried under water, the shi ying nearly on her beam ends, and ih nes, W 80 faithfully performed their lavor taroughout, Were strained and their capacities tesied toa degree which could but fil! the niiads of ali with tie greatest anxiety, . for with tue ship now lying heal to the wind (north weat) everything dependvd upon these engines re- Tmaini uninjured. During this night no abate- ment of the tempest came, and many a silent but é forvent prayer was rendered up to Heaven to avert the 1 ing calamity. There was no rest for we e faithful and overworked crew nor tor the exhausted officers, who continued at their posts, nor for the Pie commander, who fully app! lus Vast 8) ity. ue tornisg of the 14th came, and stlil was the tornado raging with uoabvated fury, the barometer continued as low as 28.40, and the foain of the sea rendered the position of those on deck uncomforta- bie in the extreme. Later inthe morning the ap- pearance of the sun, a8 it broke forth in all ite splendor, was halied with Joy, and with it a modera- tion of the storm womans eanant aud by one P, M, it had sufficiently lulled to induce the commander to make an atiempt to bring the vessel before the wind again, which feat was happily focometenes without + pping any more seas, As she was now again heading on hor eastern course, et ad more before the atill strong pe know! that the danger waa now over bi up all countenances, and mutual con, ations took place, while groups of men might be seen in pF of the ship warmly discussing the lave Throuehont the terribie ordeal all man unbounded confidence in the great atrengih superior qualities of the Arago, and the opinion Was prevalent that the vumber of ateainships was small lodeed that would not have succumbed to the neuts had they been in a like posl- ivth of December the Arago entered ort of Falmouth to replenish her nearly ex- datock of coal, which article had to be used wim gly during her bolsteroua passage. After ti obtained the requisite suppiy of coal she would at olive resume her Voyage to Uremen, .