The Hawk-eye and Iowa patriot. (Burlington, Iowa) 1839-1843, 1840-09-17
Sub ..TREASURYISM-- -PREMONITORY
I SYMPTOMS OF DIRECT TAXATION.


! iSUB TREAsURYISM--- EMONITOR,
SYMPTOMS OF DIRECT TAXATION.
i In onr remarks few week since, o
the passage of the sub-treasury bill, w
stated that one Of the inevitable results q
that odious and despotic measure woul
be material, and ultimately an almos
total loss of public revenue from presen
sources, and total and speedy resort /,
( direct taxation ofthe people to defray
the expenses of the government. Th
production, startling as it may have at frs
seemed, we now believe will be fully re
allzed; and that more speedily than tn.
most credalous and timid among our po
fiitlcal economists would at first have ad
United.
! Practically, the sub-treasury law ha:
been in operation, in many of its leading
features, for the past three years. Ane
aside from the convulsive throes of com
|merce, occasionally witnessed in its efforts
to regain It's native freedom, during tha
period, there has been constant and rap
id diminution Of public revenues on the
tone hand. and a corresponding, unnatural
and startling increase in the public ex.
Ipenditures on the other.
The secretary of the treasury, it now
seems, was in error in the calculation
made at the beginning Of the session oil
congress, in relation to the extent of i'm.
lportations and the consequent revenue
from customs. The revenues have fallen
short OF the estimates about foe millions
or fraction under one half within the
past six months. The demands of the
government, however, for money, are
still rapidly increasing; and as soon as
the census is completed, and full returns
from the marshals, so that the number oil
inhabitants and amount oftaxahle proper.
ty can be ascertained at Washington, the
!plan will be matured for DIRECT TAXA.
TON to supply the deficiency of the rev
enues and growing demands of the gov
ernment, This plan has already been
laid open in the halls Of Congress by Mr..
Rhett, and by several other supporters Of
the administration party.
Suppose that Mr.. Van Buren, should
again carry the elections, the regular OK.
Ipenditures of his next four years admins.
tration, calculating from the past, would
range from 30,OOO,OOO, to s6O,O00,OOO
per annum. The standing army Of 200,.
600 men, which he purposes to raise to
keep down Opposition to the laws
would at a moderate calculation, cos
s2l, 100000, per annum more. This
last item alone would then amount to con.
siderably more than all our public reyen-
ues, leaving the whole Of the balance, OF
from. $40, 200, 700 to $50. 900 900 per all.
nun at the lowest calculation, to be paid
by direct tax upon the people. Next
year according to the sub-treasury law,
one half only would have to be paid in
specie; the year after, three-lourths, and
the year after that the whole will be re.
quired in specie. Such are the blessings
our rulers have in store for US. Farmers
mechanics, and all classes of men, how
does this plan strike you? Wheat from
t16 to 80 cents per bushel, and labor and
every thing else in proportion--nothing
but specie received for them, and that
not TO be had. Where is the relief that
every man is hoping for, even from our
Ipresent distresses, to come from, if Van
Buren, is reelected ? Or where is the
gold and silver to be obtained to pay out
taxes, purchase the necessaries of life,
and carry on the ordinary operations OF
the government! Ponder on these things,
and cast your votes accordingly at the
coming elections.--IoledoB Blade.