The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-07-23

In public speech delivered recently by Mr.
BRIGHT, that gentleman took occasion to congrat-
uate the people of the UNITED STATES upon the
fact, that the sum required by Secretary COBB TO
meet the annual expenses of the government, was
only one-tfth Of the amount which the English
Chancellor of the EXchequer will find it necessary
to ask for, when he lays his budget before Parlia-
ment. The London Times however, takes issue
with Mr. BRIGHT upon the deductions he draws
from the contrast exhibited in the public expend-
lures of the two countries. That journal saws:
1T true that the expenditure of the Federal Govern
ment is but onefth of that of the United Kingdom but
TINS does not include the expenditure of each individual
state Making the necessary addition that score the
total is raised to amount equal third instead of
of that which Mr. Gladstone will this year
to provide and the calculation would be further af
fected but for the circumstance of the most
ousStates having omitted for nearly tyTany raorG e.
pay the fSrrest Of their debts-Beyond this we must
take into the fact that the chief military force of
America is raised by compulsory service in the militia
that in this form the equal to that of of the
Oldest European countries and that the to each
man from the loss of time and withdrawal from produc
tive labor must be reckoned just closely if
exacted in the form of direct taxation Furthermore tits
to be pointed out that principal portion the American
revenue Is raised by protective duties that operate the
great consumers mposts levied forhe support
of privileged classes and the amount of which, if it
presented with the rgor of calculation formerly employed
in this country to show The losses annually sustained
the non adoption of eetade, would in the language of
Mr. Disrael, make existing burdens appear by
comparison eabte So far therefore, from there being
warrant for the impression that taxation in Great
Britain falls more seriously than in the United States
there is actual suppostion that the balance is
much the other way"
In calling our attention to the above comments, a
friendly correspondent remarks, that ''the assess
''ment to the Property and Income Tax, in Great
"Britain and Ireland is two hundred and forty
thousand millions ofpounds sterling per annum,
''of which less than two hundred millions is de-
'rved from realized property, if we include in this
'sum that portion of the profits of trade which rep
presents interest on capital. 1T lisa low estimate to
value the latter at five thousand millions sterling
Cor twenty-five thousand millions of dollars The
Getty tax alone of Philadelphia is 81 $500 per
Scent, which, upon this amount, would produce
-four hundred and sixty-two and half millions of
dollars, or nearly four times the annual interest of
''the national debt of Great Britain" Stated in
this manner, the heavy taxation, which is imposed
upon the people by many of our chief municipal cor
porations, becomes clearly apparent; but the illus
traton is scarcely fair one nevertheless In the
hrst place, the total valuation of the real and per-
sonal estate Pennsylvania, taxable for State pur-
poses does not much exceed five huadred and fifty
"S'''iS iiOi NONo 1uO oSSicSdtc dulOuUl
of receipts from taxes reach higher figure than
one million seven hundred and fifty thousand
dollars. We grant that the tax imposed bv the
city of Philadelphia is remarkably heavy one
nut II the basis of taxation larger the natu-
raj result would be to reduce the per centage
now paid by the property-holders. Still it must
&c acknowledged that our chief cities are for the
most part, far worse governed and far more
heavily taxed, than those of equal wealth and
population in Europe. We believe moreover
that If the amount Of direct and indirect taxation
imposed upon the people of the UNITED STATES
were carefully summed up, the result would 90
to prove that the position assumed by the London
Times is very nearly the correct one; and that,
however much we may be disposed to boast
OF our liberal institutions, we cannot certainly
congratulate ourselves upon being on the whole,
more lightly taxed than the people of Great
Britain. With US, the local taxes upon property
are everywhere singularly onerous; vet even this
ourthen might be cheerfully borne, if those pur-
poses for which taxes levied were but faith
fully carried out but as we have TO submit TO a
maximum of tax, and to a minimum of protection
We can scarcely regard our condition as OFFERING
pleasant contrast TO that of other nations less
highly favored, so far as political privileges are
concerned