The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-10-15

hundred millions OF dollars 10 this oountrv 4, ra.,,x
very trains affair, when take into H.
Unlimited extent OF our resources and our ability to Ii
Qudste any indebtedness We may create Whatever
dent 'ne on,eo states may incur to carry this war
or for any other purpose, will ultimately bs maid In
full principal and without disturbing anv of our
financial or commercial SYSTEMS which ia more than
oan be said OF any other government in creation: and
tbs accumulation Of large debt does not therefore
add fraction to the taxes of the people We have
consequently nothing to fear from the continuance OF
the war 50 far as the cost of it Is concerned What
ever expenditure may be made this account will be
refhnded in some shape whatever advances may be re-
CURED to accomplish tho object aimed at will be repaid
Wild interest, and equivalent for the sacrifices made
on our part will be exacted enforced The policy
sie Mt in end pursuing upon this questien will
asureuy lead to that result should it require the alb
sorption OF the whole of Mexico to accomplish It,
IL must De borne in mind, that the largest portion of
tue expenditures on account Of this made within
oa own mits and that portion OF that part
D tue country will find Its way back again through
variety OF channels. The amount of money actually
drawn from the country is small and the
consequence is that the expenditures have by no means
pseh ourdsnsome upon the government the people.
we have been engaged in hostites nearly eighteen
all that existing previous to the
Increment OF the war; does exceed sixty millions of
d'iars only about forty millions of which have been
contracted on account Of the This has been the
expenses for that PERIOD within which nearly the whole
Oh the army now in Mexico have been carried there and
the maintenance of immense naval force in the Gulf
required. Tho naval force has been much reduced
aad the expenses Of the army with the increase in
US extent, have been materially reduced The sxpendi
fi1rau
should the be vigorously prosecuted for that length
ofms will not exceed those for the past eighteen months
while the sources Of revenue will be materially
More than million Of dollars have already been c
ectei Mt the Mexican Gulf ports in possession and
we have no doubt but that Gen Scott has a
force sufficiently large to take possession of the city
Mexico aud to garrison all the principal points between
that city and Vera Cruz system of repysals tariff
otaXes will be adopted for the purpose Of raising funds
10 pay, at least, portion Of the expense. Mexico hss
cot to for this in shape, and might az
well get 1t as we go along to get in lump taket
IN n tract Of useless worthless territory.
bill has been introduced in the Legislature Of tn a
State for the purpose of levyipg tax upon personal
property in the city and county New York This is
one Of the most important measures under con-
sideration and trust 1t will be speedily adopted and
60 into operation at The just complaints which
have Tor 80 many years past been loud relative
the rate of taxation have called some re-
form, and the bill alluded to above, which we annex
strikes at the root of the evil and will reducs the ave-
rate Of taxation very materially The necessity of
such Law, has long been papabe that it is very
Btrapge that it has notbeen adopted before The bill is
still under consi ieaton trinng be
made but not to extext sufficient to change the prn
eipsl features
New YoRK Personal TAXATION Law.
snsn the eV city and county Of Nsw
and taxed in the said city and county for so much
property shall be employed business said city and
county the same manner as residents thereof are as
sessed and taxed but for all other personal property
owned by them they shall be assessed and taxed
county ?, Of which they may be residents
taxtion M county Of this State in which resides
other than the city and county of New York any
personal property for which any part of which
has besn assessed and taxed this act IL sh ali be-
swtu for such person to show that fact by AFFIDAVIT
lore the OF the city In whc
and il taxed, and It shall thereupon be the duty OF
such last mentioned asssssors to reduce he of
personal property for which they have assessed him
by the amount thereof which he has been assessed
and tax d under this act.
Ss Whenever any person, not resident Of such city
and county of New York, but who shall permanently
carry on business ty agency therein shall be
and taxed therein Tor 30 much property shall be-
ployrd him his behalf In business therein IL
sh4l De lawful Tor such person to make the adavt
sa"rz-d ~ section At ecu of article two title second
ehsp,r tirteeph Of FIST part Of the Revised statute,
before any court or officer authorized to take adayits
t. b r"hd IN the supreme court and in the
ne vidtd always that the said pc sha all show liz
sucp AFFIDAVIT. sufficient why such s lavit
not he msle by him Az required by section twenty fv-
OF article two aforesaid and provided further IL
shall NOT he lawful for the said person reduce the
ut OF his personal property assessed for purposes
TAXATION IN county OF thus state by reference
Use o any Indebtedness by reference to which
the amount OF his personal property assessed for pur
poses OF taxaton in any other county Of this State may
have been reduced by reference to indebted
nes- on property consigDed TO him to sell and which
IL may rave made advances, and such facts hall be
stated ON such 6fdavit Stall il be- lawful any
person persons, assessed under this reduce
nmount OF the personal property assessed TO him them
by reference to or use OF indebtedness other than
such indebtedness has accrued and arisen in the
gusr business of such person persons and
In casa any person assessed under this shall
the AFFIDAVIT auhorizs by section fifteen aforemenon-
ed tor the purpose of reducing the personal
property assessed to him under this act such person
shall state in such affidavit besides what required
to be contained therein that his just debts whereby
ducton OF the amount Of personal property assessed
der t act, sought accrued In due Of his -
Lar husgess, carried permanently in the city and
county II New York, aud not otherwise.
"a Goods wares merchandise OF any description
whatsoever held on coDsignm Mt to be sold CON-
nssion aud not otherwise shall not BIZ subject
ment sl.i taxation under this act
} 3. This act shall take ect immediately
stock Exchange.
$40 goo Treas NOics 81 G WorR Ao7<