Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1815-12-21

- -z-
watches, be abolished on the 3ist day OF
March next that the additional duty ina
posed during the last session Of Congress on
licenses to ret.il wines, sprituous liquors
and foreign merchandise, be abolished on
the 3lst day of December 1916 (; and that
tAe duties on refined sagar and stamp du--
ties be continue I. And finally in relation
to the direct tax, it is intended respectfully
20 recommend, that on the 3lst dav of
March next it be reduced to oue-half its
present amount. that is, To the annual u
mount Of three millions OF dollars.
The subtract,on from the revenue hy
these charges and reductions in the direct
tax and the internal duties, is estimated at
the annual sam OF 100000 of dollars
But the substitutes for supplying the equiv
alent amount. are estimated to produce
Isl, from the increase of the duty on cen
SEES 20 distillers and continuance OF the stamp
duties and duties un refined sugar, the an
nual sum OF /, 500 600 dollars I'd, from tie
continuance OF the duty on imported salt,
the annual sum of 100000 dollars; and
3lv, from an iDcfeaSe upon the perma-
neut rates ut duties on the importation OF
foreign merchandise, tie annual sum OF
5000, 900 of dollars.
The fun effect Of the alterations which
have bcen stated, will not be developed I'M
I'll some tine after the year 1916 but II
they b. adopted, the state of the revenue
for that year m the two views OF whioh 1t is
susceptible LIST, of revenue accruing dur
ing the year-lnd 2h, Of money receiva-
bic into tin, treasury during the year ; may
ce estiInstsd as follows:
!. i'ne revenue which VIII accrue III
1916, NAV be estimated,
From customs, 17,OO0Ooo
Internal duties 100000
Direct tax, (nett product
to the treasury 100000
Sales Of public lands 100000
Postage and incidental re-
cei2ls 100000
100000
9. The money which will be &C
tuay receilQ6te into The trea-
surv, from revenues i'll 1915,
may be estimated,
From Customs 100000
Internal duties 100000
Direct tax, Gnclud' ng arrears
of1S15) 100000
Sales of public lands 100000
Postage and incidental receipts 400 OC0
S., 400, Geo
II to the sum thus estimated 20
be receivable into the treasury
from the revenue during the
Year 1915 $4,000
There be added, the money
which will probably be in the
treasury at the beginning of
the year "'ooO'OOo
The aggregate will be the sum Sc, 4OO, GOO
And the demands being estima-
,,d as above. at 1884, 1863
There will be left q deficit of 6,484 ,269
It is heye. however, to be recollected,
Shat the estimate OF the demands on the
treasury comprehends the gross amount Of
the arrearages OF the war department, and
81 n,ovision for the whole of the floating
pnbNc IL bt: ard although for the purposes
ia legislative appropriation, the aggrs-
rate of the expenditures 10 be authorized
ior the wear 1916, is ne eSsariy made the
,,,sis OF the Official estimates, yet the uni
s,rrn experience of the treasury evinceS,
tat tive demands for a considerable port
on of the annual appropriation wi not be
made during the year.
It NAV also be Observed, that 10 raise
revenue by the opposition, or even by the
continuance Of taxes adequate to the iU-
mediate discharge Of every uniqudated
demand upon the treasury at the close OF
an expensive war, seems hardly to be ne
ccssary, under the present circumstances
of the country. The product Of the reve
nue. arranged in the manner which has
been stated, may be estimated, after the
year 1916, at an annual amount of nearly
four millions greater than the sum required
for the interest on the public debt, and for
the probable expenses OF the peace estab-
l;shment. If the public debt, therefore,
were increased in the year 1916, by sum
equal TO he whole amount of the d felt as
shove stated, an equivalent reduction
could he effected in less than two years
The uncxecuted authority to borrow money
and issue treasury notes, already provided
bv acts Of congress, is sufficient to ena-
bic the treasury to meet the deficit in ei-
cher Of these modes, and. consequently, no
further legislative aid. Except, perhaps,
in the mod hcaticn of The issues Of treasury
notes,) appears at this time to be requir
ed.
(7o be concluded in orr nert
z-
DOMESTIC.
TO The Editors cfthe LynchdHrg Press.