The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-13

nostrums- Some of them Insist upon starvation
aud cold water cure; others would convince
us that high tariff cures everything; third
Prescribes !depletive aud tonic practice, in the
shape of direct. taxation and free trade; a
fourth wants the currency mended, by the with
drawal of all small bills. And SO they 60
on, each with his patent medicine, which
he insists the public knows all about and i'm
plicitly conddes in, although the truth ID, the
public looks with the utmost contempt upon
both the quacks and their nostrums. We sup
pose we shall yet have thousand other won
derful remedies proposed, including, no doubt
the Chevalier webb's great remedy national
bank-which he found 80 excellent in his own
case.
In order to arrive at the true remedy it will
be well to see how the late financial revul-
sion has affected the revenue of other countries
In France and England the tempest was as &C.
we're as it was with US. In the first Of these
countries great efforts have been made to cover
up its ravages, and it is stated that the revenue
has suffered very slightly, if at all. The re-
turns of the British revenue have been publish
ed, and we find that for the quarter ending
March 3lst last, the revenue Of England, ex-
elusive Of the property tax, increased, In round
numbers, five millions Of dollars over the cor
responding quarter Of last year. We exclude
the property tax, because on the 9Th Of April,
1857, its rate was reduced from sixteen pence to
seven pence in the pound. The total revenue
Of England for the year ending 3lst Of
March. 1858, exclusive of the property
tax, exhibits slight increase over the pre-
vious year. We have no full returns of
our revenue yet; but those of New York enable
us to estimate them approximately; and these
show diminution of more than forty per cent
on the income of the first six months Of the pre-
sent year, as compared with the same period
last year. At the rate we are now going on the
revenue of the government will be about thirty.
five millions of dollars less this year than in the
previous one
1t is this great disturbing cause hat has
thrown the finances of the government into con-
fusion, and compelled it to seek for loan to
meet its ordinary and necessary expenses in
time of peace. The silly efforts that have been
made to saddle this unpopular result upon the
administration of Mr.. Buchanan must fall to the
ground, for he is in no way responsible for it.
But as the mass of people do not generally go
behind results in forming their judgments, the
odium will cling to his party, and, it must be
confessed, with justice. One Of the cardinal
measures of the democratic party is the first
element of this disturbing cause. A simple com.
parison Of the revenue systems of the United
States and England will render this evil
dent Our revenue is derived almost
entirely from customs imposed upon the
secondary articles of consumption The pri-
mary articles are wholly or in large part ex-
empt from taxation, either by the nature of our
staple productions-as cereals, cotton and its
fabrics, meats and sugar-or by law, as coffee,
tea and wool. The revenue of England is de.
rived from customs on imports about one-third,
and the other two-thirds from direct taxation.
Then, too, the customs are laid upon the pri-
mary articles of consumption. The five items
Of sugar, tea, tobacco, spirits and wine alone
yielded one hundred millions out of the one hun
dred and thirty-five millions of dollars arising
from her customs. The consequence of this
system is, that whenever the consumption of the
secondary articles is cut of, our government
loses all its revenue, while that Of England loses
little or none of hers.
Then, again, In our system of revenue there
is another great disturbing element not pos
sessed by that of England. There the duty is a
fxo<3 rafa unop Tho ouo t;tv ;vrnortaJ WIZ 49,.
the absurd dd pdlorem system prevails, by which
our revenue is not only always fuctuating with
the value Of the article, but 1t is made oppres-
sive through its want of uniformity. II
the wit of man had been exercised to its
utmost to devise a system of impost which
should be unequal to the consumer and
unjust to the importer, II would have selected
our present ad ualorem system. Under IL no two
consumers pay the same tax upon any article,
except by pare accident. Besides this, it is a
great incentive to fraud on all sides, and creates
the necessity of establishing customs watch in
every one Of our foreign consulates.
These are evils that sbould be remedied. For
their existence the democratic party is respon-
sible, for our present revenue system has been
one of their measures Of party faith. 1t works
evil in two ways. When times are good it pro-
duces an immense income, which fosters extrava-
gance and system of plumber in official circles.
When times are evil, it deprives the government
of the necessities of life, and forces II to borrow
Of the future. The financial revolution through
which we have just passed has demonstrated
the necessity of q change; and the ad ualorem
tariff will before long be buried by the people
by the side Of the dead questions of Kansas and
the niger. A Irregular income Is the only guide
to true economy in the administration of the
government.
CAScENI TO BE ExEcuTED.-The Judges of
the Supreme Court decided the case Of Cancemi
yesterday and he was sentenced by Judge
Ux;cbt 40 H.. oxoc,,taJ ~ xho .o~S-I