Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1862-01-23
INCREASED TAXATION.

Our government have at last come to the
very sensible conclusion that to borrow readily
it is necessary to pay promptly. In the House
of Representatives last week it was resolved,
with only five dissenting votes, to lay such i'm
post and excise duties as SHALL with the receipts
from customs and the direct tax, produce a
revenue amounting to S150000,000 per annum.
The details are to be matured as soon as pos
sihle consistent with proper adjustment of
the burthen on the various productive and COM
commercial interests of the country, but the
resolution was adopted thus early that capital
lists might be assured that Congress was in
earnest in providing for the prompt payment
of the interest and the early reduction of t1e
principal of our national indebtedness.
To the people of this country this looks like
a large sum to raise by taxation either direct or
indirect; and when we add thereto the greatly
increased State and localtaxes incident to there
bellion, we must acknowledge that a new expert
euce in this matter is dawning upon us. Were
the business Of the country in its healthy and
prosperous condition, and our receipts from Gus
this sum, this load could be easily borne. But
with commerce greatly reduced and business
generally PROSTATE it will require great indus
try and rigid economy and self denial on the
part of the people TO meet the enormous yet
necessary demands of our government To the
people of other countries, however, this tax
would not seem so burdensome. During sew
eral years Of her war with Napoleon the Brit
ish government raised tax Of more than
S3OOOOO,00O per annum, at a time too when
her population was much smaller than that Of
the loyal States at the present time, and when
her business interests were in a far more de-
pressed condition than ours are or promise to
be. In France, also, and other European coun-
tries double and even treble the amount of
taxation Congress now proposes to impose, is |
annually borne. Our good fortune is that we
have escaped heavy taxation so long.
How this large amount Of money is to be |
raised Congress in its wisdom must provide |
We do not think it likely that the direct taxes
will be materially increased. These with the |
revenue derived from customs will Weld from |
$4,000 900 to $60,O0O00O per annum in the |
present condition ofbusiness leaving from $780, |
100000 to slOOOOO,O0O to be raised from ex-
else duties, stamp duties and an income tax |
The New York Erening Post, which paper by
the way is good authority on commercial and
financial matters, in urging the raising of
revenue from stamps, says:
1--WE have, on former occasion. strongly
urged the propriety and the advantage of COL |
Letting portion of our revenue from stamps. |
and designated the immense variety of forms
in which it might be obtained. Public opinion
is evidently strongly in favor of the PROPOSE |
ton. Some of our contemporaries, following up |
the idea, have estimated that the amount would |
reach seventy-fve millions per annum. This
sum would almost pay the interest on the war
debt
One of the immense advantages of the sys-
TEN would be that the tax itself would fall on
ihe active business OF the country, and scarcely |
be felt. The other is, that it would be paid in |
great part by foreign countries--at least those
VINO trade with us-since all the commercial,
financial and legal documents incident TO their
trade and commerce. to have validity here,
would be subject to the duty