The Kingwood chronicle. [volume] (Kingwood, Va. [W. Va.]) 1861-1861, 1861-07-20

will moreover be establishing national cred
it on sure foundations; will contribute in no
inconsiderable degree to the revival Of trade
and industry, which by its healthful reaction
will in turn essentially promote the increase
and security Of revenue The sources Of rev
enue most promptly to be made available
must be sought, doubtless, in the articles now
exempt from duty, or but lightly taxed
Nearly all these articles have heretofore con
tributed in full measure to the national in
come. 1t was only when the debts contract
ed in former wars for the establishing of our
national independence, Or the vindcation Of
national rights had been fully paid, and the
revenue had increased largely beyond any le-
gitimate uses Of the government, that was
thought proper to remove the duties on
some Of them and largely reduce the duties
on others. That intelligent patriotism which
cheerfully sustains the former changes will
even more chcerfully sustain those made ne
cessary now for the preservation Of our ma
tional Union, and the maintainancc Of the
sovereignty Of the people. OF the articles
now lightly taxed, sugar, and Of those wholly
exempt from duty, tea and coffee are the
most important.
The Secretary most respectfully proposes
to Congress that a duty Of pc per pound be
laid On brown sugar, Of &c per pound on clay
ed sugar, Of 4c per pound on loaf and other
refined sugars, Of pc per pound on the sy-
\ rnp Of sugar cane; Of &c per pound On candy;
Of &c per gallon on molasses and Of &c per
gallon on sour molasses; and it is also propos-
ed that duty Of SC per pound be imposed
On coffee, Is cents per pounn On black tea
and 20 cents per pound on green tea
From these duties it is estimated that an
additional revenue Of not less than $40, ,O0O,-
600 annually may be raised. while the bur
then Of this revenue upon our own people
will be to some considerable degree mitigated
by participation on the part Of foreign pro
ducers. Without going here into other de-
tails Of less Importance, the Secretary thinks
It proper to add in general that, from the
proposed duties on articles now exempt and
from changed duties on articles now either
lightly burthencd or SO heavily taxed that
the tax amounts to prohibition, further
increase Of revenue to the amount Of Of ST.
900, 900 may be anticipated and that the i'm
proving condition Of trade and industry war
rant a just expectation that the revenue
from the duties Of the present tariff not
affected BIZ the proposed change, will not fall
short Of $50, 100000 He estimates, there
fore, the total revenue from imports during
the present year at $51,ooO,OO0 to which
may be added the sum Of 5000, 200 to be
derived from the sales Of the public lands
and miscellaneous sources, makeing the total
revenue for the year $50, 100000. While,
therefore, there is every reason to believe
that under modified tariff, when the pros
pcrity Of the country shall be fully restored
an annual revenue Of not less than $50, ,OOO,-
900, and probably more, may be realized, it
will be necessary in order to sustain fully the
public credit, to provide for raising the sum
Of 500 600 600 for the current year, at least,
by direct taxes or from internal duties or cx-
cises, or from both
The constitution requires that the former
be apportionted among the States in the IA
ito Of the Federal population, the latter need
only be uniformed throughout the United
States. The taxes on real estate, and per-
haps, the general taxes On personal property,
must therefore be apportloned. Taxes on
distilled liquors, On bank notes, On carriages
and similar descriptions Of property, must
not be higher in one State than the taxes on
the same articles in another State.
The Secretary submits to the superior Wis
dom of Congress the determination Of the
4 question whittier the resort shall be made
to direct trade or to internal duties, or both,
for the supply Of the probable deficiencies Of
that portion Of public resources which upon
the principles already explained, must be
furnished BY taxation.
The value Of the real and personal property
Of the people Of the United States, according
to the census Of 1860, is $16, lO2, 924, ll6, or
omltting fractions of sixteen thousand mil
! hons of dollars
The value Of real property is estimated at
sll .272 O53, ,235, and the value Of personal
property at 4,s5o, $50, 235. The proportion
Of property Of both descriptions in lhe Uni
ted States. excluding those at present under
insurrection, is SO, 900, 1577. 900, Of which
sum s. $50, 530.6o3 represents, according to
the best estimates the value Of the real, and
$3, 90, 227, 303 the value Of the personal pro-
perty. A rate Of one-eighth per cent. ad val
orem on the whole real and personal proper
| ty of the country, would produce sum Of
500 l2s, CO..; a rate Of one-fifth Of one per
cent on the real and personal property Of the
States not nnder insurrection, would produce
the sum Of $2l, 500, ,056, and rate Of three