Smyrna times., 1861-06-20
Our Financial Resources.

According to the verbal statement of Gen.
Scott last week, there are now under arms
and ia the pay oflhe Government of the United
States 100000 men. To sustain this army,
after It's equipment, will require $l,0GO,OOO
annually to each regiment or 1920, ,OOO, GOO
year. The Navy Will require, in addition, at
least half that sum, that with the ordinary
expenses of the Government, we may safely
put down our national expenses at this time at
the rate Of 1865, 900, ,OUO year, or 81 10000
day.
Large as is this probable sum, the loyal peo
pie Of the United States are quite able TO meet
it, and will no more hesitate to incur the charge
than an atfectonate father would cavil at the
cost Of a ladder required to effect the pc Of
his child from the roof ofa burning dwelling
The Union, offspring Of the Revolution, and
the child of the Constitution, must be preserv-
ed. and by sacrifice of treasure or of lite will
be cheerflily made to achieve this object
The cost of this war must be in the main
met by loans, but the means for their repnv.
ment must be provided by war tariff. The
ordinary revenue will not, under the present
tar II, exceed, probably, $5OOOOU00 But, by
imposing q tax on tea, coffee aud other articles
OF luxury now admitted free of duty, it may be
raised TO three or four times the sum. The
rate OF taxation by the UaIted states has here
totOre been so trIAing, that our people have
scarcely felt it as a burden. The people of
other countries pay a tax on tea, coffee and
other lUxurIes without embarrassment or COM
plant. The British Government raises annu-
ally five times the amount collected by the
United States.
Tea, when in England is exposed to duty
OF 81 cen pound, here enters free. The
Consumption ottea in the United ) ates IN 1850
was . j223,311 lbs whicn, if taxed at the
Brush rate, would have yielded the treasury
about $4,000 Goo Ia the same year we con
-umed l-0 9G3 jJ5 lbs. Of coffee, which if tax.
ed at The rate OF cents a pound, would have
afforded some FIVE and half millions OF dollars.
The principal OF whIch these yearly sums would
De the interest, very nearly represents the prob
able cost of the war. 1t would also be perfect-
ly Just and eXpedlent to impose a decidedly ad-
vanced duty upon foreign sugars and molasses,
Of which, IN 1860, we imported 100000 lbs.
and 81 .0OO,OO0 gallons These are develop.
menis of OCr own revenue system, as TO the
utility Of which there can be no question.
But in the English revenue system, there
are other elements which we shall do we'll to
study carefully. We have no excise or stamC
S duty, or income tax. 1t may be found expe.
, dent TO impose excise upon spirits, wine
tobacco and sugars of home production. A
stamp duty Of ten cents Upon every bank bill
E would not only produce vast addition TO the
= revenue, but discourage the circulation of notes
}, Gf small denominations. A very slight tax up.
pOn incomes, divided among the % 900 600 IN
i, habltants OF the nOn.secedIng States, by which
- we mean the Free States, with the addition O
II Maryland, Delaware, Kentucky and Missouri
r would also prove extremely productive
!, may never be necessary or advisable 10 rcsor
TO any OF these exotic methods of raising mo
J. ney; but the fact that they are always within
y reach aud available, is a most satisfactory de
nonstration of the naaterInl power which th
% Free States are bringing to the war Ifal
employed, as in England, they would unques
y tionaby produce q total annual result fallinl
j. very little short Of $250,00 600. And WI
e must remember that taxation for the ex pens
of domestic war does not exhaust the coun
try, as 10 case of foreign conf ct, whtr ther
is a steady aud enormous oUtgO of funds.
le Large, therefore, as 10 the nominal cot {
e. The war, it's effect H. stimulating home in lus
r. try, and developing the resources of the cDun
l. try, will be worth more in the end than III th
losses, sacrifices and trials which The coun ~
D. in consequences Of il, is compelled TO endure
e. The wealth Of the nation Is fully equal TO th
I. necessities Of the occasion, and the I'm &.