, 1862-05-01
The SlNEWS OF WAR
PLANS OF INTERNAL
TAXATION,
TRUE SOURCES OF REVENUE,
EXPRESSIONS OF THE MONIED
INTEREST.
Reports to the New York Chamber Of
Commerce and the Boston
Board Of Trade.

III yesterday'e paper we gave the estimates
and sources Of Federal taxation, as submitted
10 the New York Chamber Of Commerce
with the debate that accompanied the adop-
ton of the report This report was made by
Mayor Opdyke, Chairman Of Special Com
mittee, raised to consider the plan already
adopted hy the Boston Board Of Trade. They
approve the Boston plan, aud memorialize
Congress as follows:
70 ne &t1ate end House ef Representatives Of the
United States in Coxossss Assembled:
The memorial of the Chamber of Co nmerce
sents that the exigeucies Of tie country de-
mand the adoption, at an early day, Of ! sys-
TEN Of taxation whereby the ordinary cxpend-
ltures Of the Government, and the interest on
its public debt, shall be provided for, aad q
sinking fnnd established, the proceeds Of
which sholl eventually extinguish the princi-
pal Of the debt.
That the masses Of the people arc ready and
dcsi1onR to contribute their quota to the ordi-
nary and extraordinary revenues Of the coun-
equItably distributed between the present
generation and that which shall Immediately
succeed us.
That the principles Of taxation which have
been developed, tried and tested in Europe
during the past hundred years, have clearly
mebt should be borne by the people according
to their individual ability to meet such de-
luard.
That the current expenditures Of the gov
ernHlent during the present and coming fiscal
years demand an annual public revenue Of at
lars, and TINT probably no less d sum will be
adequate to the prompt payment Of such Or
dinaTy expenditures, the payment of the In
terest on the public debt, the establishment
oi 2 sinking tnnd,. and finally, the restoration
OF the public credit to such point or eondi-
tfon as will enable the Treasury to negotiate
on favorable terms the requisite loans Of the
present and future years.
That all revenue bills pending the rebellion
and SUBSEQUENT yeaSs, especially In the
Bile, ard so simple and SO easy Of comprehen-
sion by the people at large that all classes
may readily understand how, and in what
way, and By what process they are to be made
contributors to common fund for the bene-
TT of the whole Union.
That in view of the expenses Of collecting
the public revenue, the convenience Of tax.
payers, and a prompt realization Of such in
come, it Is requisite that the subjects or OBJ
jects OF taxation should be IS few as possible
| = That in the selection Of objects Of taxation
the necessaries of life should be SO universally
| and equitably taxed as to make the burden fall
| On all classes according to each maG's ability
! to pay, and as lightly as possible; while ths
Injuries Of society, OF the enjoyments of thu
rich, should contribute a large share. Of tht
public revenue; and finally, that the leading
| products of the South, which have been among
the leading causes Of the existing rebellion
| should be mnde to contribute towards TIL
speedy restoration Of peace, and to the fna
payment Of the public debt
| Assuming these truths to be self-eyident
| your memorialists pray that Congress will
| at an early day, frame revenue system, baset
upon seven subjects or departments Of taxa
tion, viz:
| From all eaIes Of goods and merchandise an
| other property, at retail and Wholesale, q tax q
one per cent. yielding, your memoriaHsts believe
the annual sum Of Sis 00l, 90
From the tariff the SUN of-..-......--- 60G00, 90
| from an exciee or tax On cotton Of TWO
cents per pound. ---.-.-..-.: $4,000
! From an excise or tax On tobacco Of
twenty cents per pound .-........,.: 100000
From excise or tax on whisky and
other liquors OF twenty-five cents per
| gallon ,.,...,.,,.....- &50D0 90