, 1862-04-30

A. A Low said be would vote Tor thc re.
port, but he thought the Chamber should not
be committed to such large estimate as the
report set forth.
Mayor 0pdyke said his OWL estimate had
never been over S30O, ,O00, 900, but he had been
satisfied, By an Interchange Of thought upon
the subject, that the government would re-
quire $3.50, ,0o0,0 With a population no
greater than our the system Of collecting the
required amount by tax on sales Wou1d be
equitable and be found to be q prompt Way of
collecting revenue.
Ar. Albert Gal|atin said Much eInbarrass-
ment has arisen in Congress from the novelty
OF this question Of internal taxation. Having
been accustomed to indirect taxes, in the
Legislature is without experience Or preee-
dents to gnlde it In an extensive OF compre-
hepEise system Of revenues from internal
sources. It finds itself IN the midst Of con
ficting interests It has aimed to, tax luxu-
ries, and thus to relieve labor aud preserve
the industrial energies Of the county uuiul-
paired. But taxation OF Injuries being inadc-
quate to the wants Of the Government, or the
exlSencies OF the State, which require q great
er amount of revenue than such . system
would yield, it became advisable to apply to
the capital Of the whole country; and here all
encountered.
Congress desired to tax the INCOME, not the
principal, Of capital, and every principle of
equity and justice dictated that course. But
they have found that such q line Of taxation
viii bear With undue weight upon productive
industry, because there will rise, In that di-
vision OF labor peculiar to our advanced pro-
gress in the arts, a multiple Of taxes upon
each of many interests, injurious to labor.
Hence there has risen an effort to shift these
burthtnR, numerous interests having visited
Washington, and fmportuned the Commit
tHRE {}saf 111o hnv-r %pn+1
posed, involving an entire change in the sys-
TEN upon which the bill now before Congress
; has been drawn up. Among these plans is
that Of tax upon all business transactions
OF purchase and sale, and on all payments Of
rent, interest and dividends.
This system or plan would he more econ-
ouical than any that I hare yet seen; md it
commends itself to my Judgment In this that
It would be collected without any greatinco
venlence to the government, and without Civ
ing rise to those popular complaints which
may be expected to follow the application of
laws authorising domiciliary examinations.
Time will not permit me to dwell upon the
advantages Of this system, but trust theT
will be seen and appreciated By Congress.
but the most Important Of all considerations
+ the passage Of some measure Of internal
taxation before the adjournment Of Congress-
any measure, however imperfect it may be, is
infinitely preferable to none ut all. Experience
Will enable Congress hereafter to amend an
imperfect system. But they eau compensate
the country for the detection and disaster in
ciocrt3t failure to pass some law Of taxation
adequate to the wants Of the government
Some measure is now demanded of Congress
country.
There are differences of opinion Is to the
taxation Of particular interests, but there is
not any difference Of opinion anywhere as to
the necessity Of taxation, and tile people arc
wiling and ready to meet; nay eyen anxious
to Lave it adopted as speedily as possible 4
1alIfe to enact such law before the adjourn
neht OF Congress would be more Injurious in
its effects thau the loss Of great battle
Air. hehard Lathers took exception to that
paragraph IN the report which set forth that
the ieadins products OF the South, which
have been among the causcs Of the existing
rebellion, should be made to contribute
towards tue speedy restoration Of peace, aud
to the final payment Of the public debt He
modified. so as not to prejudice the minds OF
the loyal men in the South agaiust the tax
that will he necessary to meet the expenses
OF the rebellion.
A11. c. Il. Marshal wished that We should
tax the South to pay al the expenses Of tho
they ought to pay the cost Hc favored the
adoption Of the report as It stood.
Mr.. Sinclair Tousey and Mr. Wul. Bailey
spoke il favor Of the adoption Of the report.
BIZ. Gallatin thought that the tax rs sug-
gested By the report should be adopted with
ont my modification.
MI. Chasles Gould thought that it was time
that an honest expression Of the causc Of 1ue
rebellion should be made, and the matter
spoken Of plainly, even it it should offend
somebody at the South, and he would there.
! fore sote for the adoption OF the report
Mayor 0pdyke stated that he had becu
| called upon by a member of the rhiladelphi.
| Beard Of Trade, Who informed him that tht
| Board had appointed committee to lay theil
! views before Congress. He moved that {
! committee OF three be appointed to risi
Washington and present the views OF ths
| Chamber briorc Congress. The motion wal
carried, and Messrs. VIM. L. Dodge, A. c
Richards and Ezra Nye were appointed tht
| committee