The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-11-09

Ffons the London Tinass, Oct H.
The surplus Revenue OF the United states
on all The pachealors which the preseD, warke cilss
has called inls aelion the dbeully OF hndlng money IS
undoubtedly the most potent The Chancellor OF the
Excheqner MIR Gladstone ifu'y observes tT oUcto
man OF peace The officially Of making both ends meet
renders lbe prospect OF appalling as y at all tines
doublv appalling 10 financial minister That which cuts
Oh the ways and means, while II enormously increases
the pendure--whIeh dams UP The sources oi taxation
al The very moment when II Is draining them dryhai
which can convert surplus into deficit, and deficit
into bank upicyis legitimate object Of financial alb
horsence Austria cannot Keep The excess OF expendi-
ture over income within The noHstrous amount oil hfy
millions OF forms. In France, impera! omnipotence
not coerce the budget within reasonable dimensions and
show too much ptide al our surplus Tor persons
there is IN the world, and that man finance
minister, who is troubled with none OF these Difficult
liesnay is just now suffering under difficulties OF pre-
csely contrary character The American Secretary OF
the Treasury, Mr. Guthrie is prosecuted by an obstinate
SURPLUS which cngs him like the Old Man Of the Sea
10 the neck OF >nbad and 10 perpeiualy claiming appo
priaon where exist OF devo,ng to The public
service the superabundan riches OF The revenue. This
OF q double system OF taxation, OF central Cow
ernmen confined 10 certain enumerated functions which
il cannot exceed, and local government, forbidden 10
raise by means OF custom houses on the IRON
tier. The authors OF the American constitution, when
they considered and mnuisy defined what should and
what should not be lett 10 the cenral authority,
dreamt OF the difficulty which the rapid increase OF
capital would introduce in adapting the revenue TO
the wants oil the Stale. III never occurred 10 tneih
that the central government would be too rich. and
that oil the most embarrassing problems Tor future
statesmen would be how 10 cut down its resources
10 The required amount Had II been any other kind
OF taxation than that levied through The custom house
on which the central government was 10 subsist, the
matter would have been comparatively easy; but the
difficulty lies in the peculiar nature oil revenue from
customs. II is because that revenue has two-oId op
calion protective well financial, that the difficulty
has arisen. Nobody is ond OF paying taxes for their
own sake and The OF the federal government
WOul1 long have been cut down level within
expenditure, the question had not been embroed by
the fact that large classes of American citizens claim
interest in the imposition of lakes which the State
longer wishes receive the people 10 pay In other
words the question OF protection supersedes that of the
duty OF the government TO us subjects and requires thai
more than wanted should be raised order
that one part OF the community may levy tax on the
other.
mnished this apparent difficulty, and The people are be-
ginning 10 learn that raising revenue has necessary
connection whatever with showing particular favor 10
any branch of industry Ii does not appear, from the
tone OF the American papers, that they have yet acquired
very clear accurate notions OF the true limits extent
of The doctrines OF free trade. One OF them protests
with much earnesness, against waat he calls. in Ian
guage more expressive than accurate "a blind horizontal
tariff" and another is eloquent on the enormous evils
which fall upon country whose imports continually
exceed its exports. Still, however, if the theory be not
very accurate, The conclusions deduced oleraby
sound. The dread q English competition is much ale
waited by the increased OF production resulting from
the effects of emigration to Australia and confidence is
felt, and that with great justice in the rapid OF
capital and the advance which has taken place OF late
years IN the management and application OF machinery.
Moved by these considerations, tue great majority OF The
American people is prepared TO second the efforts Of Mr.
Guthrie, and 10 divest him OF that superluous wealth
which be finds so grievous a burden.
This is indeed singular spectacle great nation vol
unfairly elnquishing It's revenues because II has
than il knows how TO spend and seeking 10 pay Oh their
debt on terms extremely beneficial to the holders of
STOCK in order to be rid OF some portion oil the treasure
which poured into lis lap against lis will We hearth
ly wish MIR. Guthrie success in his undertaking. AS
coFcomant to his ireeirade principles he Is about 10 sub
slue system OF SPECIFIC Tor I'D udiorsm duties The
iranis that were committed under the former system
cen, 10 have been Dateaced and nnumerable and we
soubt that the will be considerable, per
hsps an iDconvenent gamer by thus transferring the
power OF taxation from those who pay TO those who
teve the tax. Altogether the prospects OF the change
extremely gratifying, especially as II can, It would
SEEM be effected without dspleasng any political party,
making the repeal OF The present duties portion OF the
capital OF any clSss OF politicians II Is fortunate that
the change comes in the shape OF mperious necess-
ty and that in order the presen, system the
American poleclonIsi would have TO require that taxes
utterly supefuous, and IN no degree whatever needed
for the welfare OF the State should be raised merely to
enhance the gains OF one portion OF the community.
refreshing TO turn from the contemplation Of the
worn-out and ereie deso,sms OF the Old World, where
the OF The State absorbed by less stand
ing armies and sQuaGdered IN The maintenance OF police
employed TO suppress thought and OF spies oganzed 10
detect twhere The annual deficit threatens TO absorb In
its ponderous Jaws ALL and more than ALL which be
wrung from the exhausted peasaDiry-to this new and
vigorous county, actually bowed down by The weight OF
lis prosperity and embarrassed in selecting those
burdens which IL is actually compelled by the force Of
circumstances TO remit. With when little surplus
gives us the opportunity OF remission, there are a!yays
so many njus,Ices remedy, many grievances TO
redress. that the difficulty oil selection is extreme and
every remission gives almost much pain pleasure,
by the disappointment II incs The advocates OF other
remssions In the United States the dlfhcuy not
to choose which OF number OF pressing cases is The
most urgent, but TO find any pressing case at all. We
congratulate our transatlantic brethren the exuher
OF their and sincerely hope that this d-
Guilty OF binding a tax 10 remit may be the only one
which their Chancellor OF the Exchequer will have
to encounter