the high powers essential to the enforcement of due respect to " these preroga 

 lives of the manufacturers ?" 



But let us see upon what grounds these assumptions of " prerogative " are 

 put forth. It is alleged that the manufacturers pay the taxes to the government. 

 " The government calls upon the manufacturers for the tax ; it stands face to 

 face with th m ; it calls upon them alone ; there is no middle man between ; 

 the question is not between government and producers ; it is between govern- 

 ment and manufacturers ;" therefore, " they slu uld have a perpetual lien on the 

 entire consumption of the country ; tlicij should dictate what might be used ; it 

 is their indefiasihle right under the circumstances." 



We dissent altogether. They pay taxes on what they sell only, not on the 

 entii-e consumption of the country. As well might the importer put forth like 

 pretensions, or the wool manufacturer, on all woollens, make like assumptions. 

 But is tills tax a gratuity? Who repays it to them, with a profit on the ad- 

 vanced tax, too, but the consumer? Ask the consumer of tobacco, whether he 

 chews or smokes, what is the difference to him now and before the internal tax, 

 and the answer will sustain the declaration that the price embraces more than 

 the tax. If the tax was a gratuity to government on their part, there might be 

 some show of justice in such pretensions. But the consumer is a party who is 

 carefully kept out of sight by Mr. Burke. In a word, these claims to preroga- 

 tive are most extraordinary. But we admire the lioldness of their statement ; for 

 the special privileges demanded are asked fn- with less honesty by other manu- 

 facturers, under a guise of " protection,'' when already sharing an annual divi- 

 dend of from 40 to 65 per cent. 



The New York Economist, of January 20, says : 



"Several large New England manufacturing companies have declared dividends ranging 

 from 'M to 3U per cent, upon the last halt year's business. The Androscoggin, Appleton" 

 Bates, Chicopee, Lancaster, Lauddon, and Nashua companies, with an aggieo-ate capital of 

 $'),U4.5,tiUU, liave declared dividends, for six mouths, amounting to $\,'Z\-4,zi>{\, or at the late 

 of 48 per cent, per annum ; that tweutv-niue of tiie leading coi povatious, with an agoreo-ate 

 capitalof about .^^^9, Ul.U.i UO, declare dividends fur the six months amounting to !p3,?}s4,da0, 

 which is equivalent to 2i^ per cent, per annum ; that besides these disbursements of interest, 

 several of the comjmnies have laid aside large reserves for extending their works or iucreasino- 

 their working capital." ^ ° 



Whilst these dividends have been made, wool has been falling in price, tobacco 

 is fast receding to its rates before the war, and the tables of iJie prices of leadino- 

 agriculttiral products, which we publish in this report, exhibit the heavy decline 

 they have met with since January, 1865^. 



Whilst prices are in this changing state, in consequence, partly, of the cessa- 

 tion of the war, partly because of a better supply and a more limiti'd demand, 

 it would be most unwise to adopt siu-h radical legislation as contemplated by 

 some. Great interests should not be jeoparded at any time, much less now, 

 when the changing condition of all things does not indicate their future state 

 when in repose. But if European legislation in regard to tobacco is to o-overn 

 this country, then Congress should make its manufacture, as well as the growth 

 of the leaf, a government monopoly. 



We have dwelt tliAis long on the principle advocated by Mr. Burke because 

 it has as much applicability to all other manufacturers as to the tobacconist, and to 



