The Buchanan County guardian. (Independence, Buchanan County, Iowa) 1858-1864, 1861-12-24
Secretary Chase's Report.

tied dimensions Of our columns than now,
during these times Of important State pa
pers, war, domestic and foreign news, and
congressional proceedings. Even brief
summary of these would require daily
sheet OF quadruple the size of ours. Un
der these circumstances we can do no
more than select such matters as are OF
the greatest present and permanent inter
est. Of this character is the late mas
lerly report of The Secretary of the Treas
ury. 1t is necessarily Of great length
a3l is admitted to exhibit an acquaint.
anee with the fiscal and financial condi
ton and requirements of the country
such as no previous State paper from tha'
department has exceeded, if, indeed, it
has been equsled Secretary CHASE, too,
like CAMERON and WELLS, is awake to
the necessity, as the justice and hu-
mainly, of making use of the slaves in
putting down ibis wicked Shareholders
rebellion. We herewith annex sup
,psis Of the admirable report
There has been borrowed during the
present fiscal year, commencing on the
1st Of Jaly, 1917, 100000 viz: $780,
OoO,o0O at an IN ereat Of 8 10 per cent
$4,000 900 al an interest of per cent,
and the balance on Treasury notes. none
Of them bearing a higher rate Of interest
than per cent and some of them bear
ing no interest.
AS to the revenue for the current fiscal
year, the Secretary now estimates that
from the customs at $50 100000, instead
OF 1000, 900, which he expected at the
date of bis report made during tho sum
mer session of Congress, He also rcdu
ces the estimate of revenue from lands
and miscellaneous sources, from 50, 00O,-
600 to 50, 1854, 900.
To the estimate OF expenses for the
year, fixed in his summer report at 3l8
millions, AZ millions were added during
The extra session of Congress, and l43
additional millions are now asked for by
the Departments prosecuting this war
The Secretary's estimate, made in the
summer, contemplated an amount of force
to which very large additions have since
been made.
Thus. with 5J3 millions Of expendi
ture, the Secretary has revenue from
customs an | lands Of only 35 millions,
To meet this gaping deficiency, the
Secretary, in addition TO that well known
remedy, (rerenchmens, which never
fails to appear in Treasury reports, and
which rarely appears anywhere else, pro
,ses IN alteration of the tariff, an in
crease of other taxes. and the confiscation
OF rebel property.
In respect to the tariff, the Secretary
recommends that the duties on tea coffee,
and sugar be increased TO the rates here
tofore proposed, namely, two and half
cents on brown sugar three cents on
clayed sugar, twenty cents per pound on
green tea. and five cents per pound on
coffee An that no further alterations of
the tariff be made during the present SEES
sion, unless further experience or chang
II, I'll L
necessity or expediency Of them.
In respect 10 other taxes, the Secreta
~ SAYS that il will be necessary to so in
crease the direct tax as to produce from
the loyal States alone revenue of TWEEN
~ millions Of dollars. and to lay such
dates on stills and distilled liquors, on
tobacco, on bank notes, on carriages, on
l'gacies, on paper evidences Of debt and
instruments for conveyance OF property,
aud other like ubects of taxation, as will
produce an equal additional sum The
existing provision for an income tax just
in its principle, inasmuch as it requires
largest contributions from largest means,
may possibly, and il somewhat modified
viii, probably, produced ten millions OF
dollars more. The aggregate taxation,
in addition to that upon imports, will
ihus amount TO fifty millions OF dollars,
and with tie customs would give a reve-
nue. Of eighty five millions, or just about
a sixth part of The expenditure.
In respect to coufiscation, the Secreta-
rs says:
while thus recommending retrench-
ments aud the prevention of abuses, the
Secretary feels himself constrained to re-
new The suggestion heretofore submitted
10y him, that the property ofrebels should
be made to pay, IN part at least, the cost
Of rebellion. Property Of great value in
loyal States is held by proprietors who
nre actually or virtually engaged in thai
guilty aitemp 10 break up the Union and I
nverturn its Government, which has S
brought upon our country all The calam I