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Updated: May 12, 2025
For this extensive and important operation, he was to receive 20,000 florins a month from the general exchequer; and in addition he was to be allowed the brandschatz the black-mail, that is to say of the whole country-side, and the taxation upon all vessels going up and down the river before Rheinberg; an ad valorem duty, in short, upon all river-merchandise, assessed and collected in summary fashion.
This might be accomplished by ascertaining the average value of any given article for a series of years at the place of exportation and by simply converting the rate of ad valorem duty upon it which might be deemed necessary for revenue purposes into the form of a specific duty. Such an arrangement could not injure the consumer.
This law greatly extended and increased specific duties on, and diminished the application of the ad valorem principle to, foreign imports; and it has been well described as "the practical foundation of the American policy of encouragement of home manufactures the practical establishment of the great industrial system upon which rests our present National wealth, and the power and the prosperity and happiness of our whole people."
Duties on exports, however, being deemed inexpedient, are not laid by our government. An excise is a tax neither on imports nor exports, but on articles produced and consumed in the country, and on licenses to deal in certain commodities. The money paid for license to sell spirituous liquors is an excise tax. Duties are specific and ad valorem.
A resolution was passed recommending the respective States to vest a power in Congress to levy for the use of the United States a duty of five per centum ad valorem on all goods imported into any of them, and also on all prizes condemned in any of the American courts of admiralty.
In the purchase of all commodities purely foreign; in the purchase of those commodities, the raw materials of which are wholly or in part foreign, and therefore influenced in a great degree by foreign prices, and in the purchase of all home commodities which are taxed, and not taxed ad valorem, they would have an unquestionable advantage: and these articles altogether are not inconsiderable even in the expenditure of a cottager.
The president and council were authorised to repel those who should, without their authority, attempt to settle, or trade, within their jurisdiction, and to seize, and detain the persons, and effects, of such intruders, until they should pay a duty of two and one-half per centum ad valorem, if subjects, but of five per centum if aliens.
Among such are taxes on individuals moving about the country up or down the rivers, cutting wood or in boats, oppressively heavy export duties on certain kinds of produce, and ad valorem duties on all articles of import and export not otherwise specially taxed.
Even now there are Government plantations in every village, in which the natives are compelled to work without wages. Of course, it is easy to undersell the planters by produce raised on these conditions. In addition to the direct Government competition, they complained of export duties on their coffee and cinchona, and of ad valorem property taxes upon their plantations and buildings.
He remained out of office until January 1822; but the interval was not spent in idleness, and in 1819 he took the leading part in the great Act for resuming cash payments, which, as it has been truly said, attaches to his name 'the same meed of praise which he had quoted as inscribed on the tomb of Queen Elizabeth: "Moneta in justum valorem redacta." It is one of his greatest legislative achievements; it is also the first of that series of recantations which forms one of the most distinctive features of his career, for it was based upon the policy which Horner had advocated in 1811, and against which Peel had then voted.
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