5 FEBRUARY 1870, Page 2

The New York Tines gives a curious instance of the

effect of American taxation. Hides are taxed, "lasting" is taxed, elastics are taxed, and the consequence is that the people of the Union pay an increased price of 71 per cent. for their shoes, or, says Mr. Wells, about £3,000,000 a year, while the total revenue obtained is about /500,000. Moreover, the export of American gaiters, which was considerable, has ceased, and the export of tanned leather. Hides now arrive in New York, cross the States in bond, are tanned in Canada, and are then exported to England cheaper than the Americans can prepare them. Note, however, that the Protec- tionists in Congress made a desperate struggle to prevent the printing of 150,000 copies of Mr. Wells' Free-Trade report, and were beaten.