The New York herald., 1862-09-26
Collection Or ihe National Tc~
New System or Internal Re v>rssues

! Collection or shs Eatfonal Tc> es-Th'
New System OF Internal Revenue.
There has been s0tae unavoidai.s delay 10
bringing into practicai operation the syst>m OF
Internal revenue enacted into law at the Last
session Of Congress; but we understand that
now, all necessary forms having been devised,
and all due preparations made, the machinery
novelty for the people of the United States 70
find themselves taxed after the manner OF
European nations; but the rebellion brought
taxation along with it as an impcrious neces-
sity, and no good citizen will grumh,e at the
burdens which the new system will impose
upon him. It reaches, or is intended to reach
all the manufacturing and industrial interests
OF the country. and makes the aa!thy Glasses
OF the community contribute, in proportion d
their means, to the maintenance of the fedclsl
government
At present it is utterly impossible to form
any probable estimate Of the revenue which
the government will derive from this system Of
internal taxation. which, it ia hardly necessary
to remind our readers, is entroy distinct from
the tariff or system OF import duties. After the
first year or two Of its operation II can be mo-
difed, and the several dutias diminished or in
creased, according W experience will demon
strste the propriety Of the change. For in
stance. the excise duty on distilled spirits is
fixed at twenty cents per "a ion, and, although
this rate viii produce very large revenue,
yet it may become evident that it might be
doubled or treiled without any injury to the
distilihg interest, and without adding TO the
burdens of the people while il may also ap-
pear wise TO diminish the duties imposed on
other branches Of industry. This, as we say,
is matter for time and experience to demon
strate, and therefore we must not expect a
perfectly equable system OF internal taxation
for some years TO come.
In addition to excise duties, the new law en-
braces pretty extensive license system. which
applies to bankers, auctioneers, wholesale and
retail liquor dealers, pawnbrokers distillers,
brewers, hotel keepers, stock brokers. theatres,
ped!ers, manufacturers, apothecaries lawyers,
physicians, and, in short, to almost all descrip-
toas of business and professions. The tax on
manufactured goods is specific on some and ad
valorem on others, and ranges at between
three and five per cent of the value of the arti-
Gle produced; but there is provision that on
such articles a. are exported from the country
the internal duty that may have been paid is to
be refunded to the exporter. This is q salutary
proviso, The object of it being to give our
manufacturers fair chance in foreign markets.
After the lst Of next month the system Of
stamp duties provided by the Internal Revenue
act goes into effect. 1t requires stamps, vary
ing in value from one cent 10 fifteen dollars. TO
tracts, checks, bills of exchange, bills Of lading,
bonds, certificates Of stock and of deposit, tele-
graph dispatches and legal documents, and also
requires stamps of from one to five cents to be
affixed to all phials and boxes of patent mrdi-
cinces, perfumery, &c, and TO packs OF playing
cards.
The income tax which il also provided for in
this general law, is not 10 be collected before
May, 1863, and is to be for the year ending De-
cember 81 1862. Every person whose annual
gains, income or profits, from whatever source
derived, exceed six hundred dollars Is to pay
three per cent on tho excess mp to ten thousand
dollars; and II his income exceed the latter
sum he is to pay five per cent on ell over the
first six hundred dollars. All taxes paid are
TO be deducted from the gross income. Citi-
zens OF the United States residing abroad are
to pay FIVE per cent on the income derived
from property held in this country In
regard to legacies. the duties vary in pro-
portion to the degrees Of consangu;nty
lin which the parties stand to the deceased.
fLineel descendants that Is, children or grand
lchildren-pay three{ourths Of one per cent,
pephews aud nieces one and half per cent,
dfher relatives thrce and fonr per cent, and tue
more distant relatives and strangers i've per
cent.
There eeelns to be some apprehension in the
public mind that the visits of assessors aud
their assistants TO private houses are likely TO
be attended with trouble and annoyance, aud
that these officers are to examine aud make in
ventories of ell taxable matters therein contain
ed There need exist no such apprehension.
The only objects Of private property that are
subject 10 special tax are carriages yachts, bill
lard tables and gold and silver plate.
1t was originally proposed to tax watches
and pianos but the Senate struck them out Of the
bill. Carriages are taxed from ono dollar to
ten dollars, yachts from FIVE dollars upward,
billiard tablcs ten dollars, gold plate City cents
per ounce, and silver pats-over the first forty
ounccs-thrce cents per ounce. IL is estimated
that there are in this city ten thousand families
who will have to pay tax on their plate,
and thai thcro are several thousands who have
salvers that Of .hemsclves weigh over the forty
ounces exempted from taxation. Whore there
10 any doubt a. to the quantity Of plate II Is
very easy for owners to have IL weighed by
silversmitb; and his certificate will certainly
satisfy the assessor. Family plate, however, 10
mt 10 he taken as including the birtbday and