The Revenue law.
New York, Jan. 30.
--Hon. Jno. Cochrane, of New York, from the Select Committee of Five, introduced a bill proposing that vessels from foreign ports, bound to a port within the scope of the provisions of said bill, shall, with its foreign cargo, be liable to seizure and condemnation, and in the same view, of applying its restrictions only to foreign commerce on which revenue is by law collected.
All vessels lawfully engaged in the coastwise trade are exempted from its operations, which are purely remedial and defensive.
It further provides, if practicable, to collect the revenue.
The President shall, by proclamation, specify the port in which the obstruction exists.