Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1861-08-09
&fnrral iHtsrellanu.
ME RESOURCES on THE NArloN

THE RESOURCES OF THE NATION.
The American people have hitherto escaped
any onerous amount Of direct taxation The
General Government has sustained itself and
paid off its debts from duties on imports, a
method Of collecting revenue that falls so
gently and equally on all, as scarcely to be
felt by any, and from the sale of the public
lands. The highest State tax, we believe,
ever levied in the State of New York was
three and hye-seventh mills on the dollar of
the assessed valuation of its taxable property
This, with the local taxes, outside of the large
cities, would probably carry the amount to
about four aud half mills on the dollar. We
have not the statistics at hand showing the
assessed valuation in all the loyal States, bu.
this we know, that one mill tax in the State
Of New YORK. alone produces the sum Of
about l.50O.00 Assuming the assessed
valuation OF New YORK to be one quarter of
that OF the loyal States. mill tax would pro-
duce in them alone, an aggregate of $4,000
900 annually, a sum sufficient TO pay the in
terest ON war loan of s 90 900 900 or, a
mill and a quarter tax would be sufficient to
pay the interest on seven per cent. loan of
the same amount, leaving a surplus of $780,
600 to provide for contingencies, or make up
and deficiency in collection, II the whole
raised, and the payment Of interest made de-
pendent upon direct tax, it would even then
amount to less than five and one eighis mills,
or about one-half Of one per cent on the tax
able property of those States. Il will thus
be seen that with the full debt of $500, 600
600 contracted, and the interest required o
be paid by direct taxation, the burden would
still be trifiing compared with that which
rests upon the people OF almost every other
nation in the world, and even hat would be
temporary. The receipts from the Customs un-
der the present tariff, with such judcious
amendment as experience shall indicate, to-
gether with those from the public lands,
would wipe out the principal long before the
expiration Of the term fixed for its payment.
These present sacrifices, which may by nos
ability be required of us of the loyal States.
are by no means commensurate with the good
70 be achieved by vigorous and successful
prosecution Of tho war. The vindcation of
the Constitution, the preservation of the u
mon, the perpetuation Of the Republic in all
Its vgor and proportions are considerations
vastly beyond the payment for a few years of
40 trihing an amount OF taxation The safety
OF the present and security of the future are
worth infinitely more TO the people of theae
States, than the comparatively small amount
OF money necessary TO the achievement of
these objects. The depreciation of property
alone occasioned by dissolution of the Union
to say nothing of those stupenduous social
and political evils which such catastrophe
would infict upon the present and all future
generations, would exceed by thousand fold
IN amount the millions required for its pres
erVhhon. Not farm in the country, not one
piece OF village or city property, but would
be more than twice decimated by the disrup-
.on OF 'heSe States, while every description
OF business and all employments would suffer
IN corresponding degree. Our pecuniary
Interests therefore, and those Of our children,
as well as those higher and boiler duties
which, as patriots. we owe to our country 20.
quIre of US that we should meet with chez
tulness aud alacrity the sacrifices demanded
by the exigences of the hour.-N. Y. Tine,
t1-Saie Patrick to another son of the En-.
erald lsle, as gentleman passed whose nose
gave evidence of his habits. why is that
mans nose like volcano :" and answered II.
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