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The Daily Dispatch: June 19, 1862., [Electronic resource], Matters before the Federal Congress (search)
evenue of eighty millions, provided business revives and the Union is restored. Sixty millions, after making all allowances, are expected from it — making an aggregate annual revenue of one hundred and eighty millions, besides the land and income taxes of the last session. Cotton manufactures, under the tax bill, will pay a three per cent. ad valorem duty; while raw cotton will pay half a cent a pound. It is stated by Eastern mill owners that all the mills will cease to work by the 1st of July for the want of stock at any price. But some of them are so sanguine of the future as to believe that cotton will now come freely from Southern ports, and that of the crop of last year, amounting to nearly five millions of bales, three-fifths will escape the torch. Others again calculate upon only one million of bales from the gathered crop, and another million from the succeeding crop. It is reported, with probability, that the money seized at New Orleans by Gen. Butler, as th