The New York herald., 1862-01-05
sb 29 COO OOO3 500 Clio S134 lss O5l SI34 "a a II
nch $4,000, 600 EOS l32,360,0OOi 81 2S 81
ted States,
ily 16 3l, ,000000l 5l7 4-IQ 299 696 l6 70 96
rged TO the
yal States cool 617 4-I0l 299 6o6l 70 sol 30
al Statesl
argd with

State debts. 2s oooWl ess eloI AAs7,cocl 80 col %
will be at glance that the national debt Of tho
British United Kingdom, with less population, is more
than times greater In amount than ours will be
naxt July quito eight times greater per head and the
annual charge five times greater and that the debt Of
France is more than four times In amount
four times greater per head, and a four times
greater burden in annual interest. Our relative ability
70 bear the burden is not 30 easily ascertain.
ed with accuracy The national government has hhor.
to rested lightly upon the people that their
have been tried. Let look moment at the
sources Of revenue that support the Of
ment in the two empires with whose financial condition
wo have been comparing our own.
England derives annually twenty three millions sterling
from duties upon foreign imports but something less
than million Of this levied after the manner
Of our import dutics upon commodities which compete
with her domestic productions. The other twenty
millions are, in effect taxes upon consumption
collected at the custom house. Six millions upon sugar.
Eve and half upon tobacco, and five and half upon
tea, all strictly Of this characer and Of all the
remainder Of her import duties, except million Of
pounds. From excses, or inland taxes upon consump-
tion, and from property taxes, the receives
thirty millions more; from stamps eight millions and
from other inland taxes nine millions. Here We have
about three hundred and thirty millions Of dollars
raised by inland taxes and only FIVE by customs duties,
IN our meaning OF the Word-tnrec hundred forty
three millions Of dollars raised annually meet one hun
dred and thrtyfour millions Of interest upon the public
debt and the ordinary expenditures Of the government
Our debt at the end Of the fiscal year asks less
than thirty millions to discharge It's interest," and peace
were restored about forty fifty millions more would
cover the expenditures Of the government.
France raises every year three hundred and y mil
lions Of doarsof which the customs proper afford less
than thirty millions, and internal taxes all tbs rest
Stamps yield sxtyeght Millions direct upon land
and other property ninety and licenses other
indirect taxes ninety three millions more.
We have hitherto avoided direct taxation. We have
not had much frequent occasion TO resort to IT, and wc
have all along had decided TO excscs, stamps
and collectors, nrst awakened by the cndea.
vor OF England TO employ them against us be-
fore the Revolution, and the III timed introduction
Of them under the administration Of the elder Adams.
But England and the governments Of the cont.
nent have proved by an experience, full OF the
most trying financial exisencies, what the system Of
tcrnal taxation, direct aud indirect capable Of Tho
national wealth has everywhere grown under IL i'm.
mcnsely. Whether IL be SO much In aid hindrance Of
the general prosperity, II Is certain that tho commudty
purse nled SO much faster than is depleted where
the system obtains that populations greater than our
own grow rich under burthcns from four eight times
greater than We are now called upon to bear.
Automatically our resources the requirement
easily. Suppose ninety millions year required to pay
the interest on our public debt, provide sinking fund
for its gradual reduction, and meet the ordinary ex
pcnses Of the public service The value of
the real and personal property Of the loyal States
alone is eleven thousand millions Of dollars Ono
per cent would give one hundred and ten
mions; the customs and public lands must annually
yield forty millions, without penny from tca coffee and
sugar These articles assuming the consumption Of the
loyal States to be twothrds Of the quantities imported
when they were imported FREQ Of duty, would Afford at
the rates proposed by the Secretary Of the Treasury
100, 900 900 lbs. coffee, at cents s5 900 600
40 600 900 lbs sugar, at " cents. s...... 6000000
10000, 600 lbs tea, at 20 cents ......... 100000
Stamps in Great Britain pay to the revenue forty mil
lions Of dollars in France, sixtyeight mions with US
they might pay say, ten millions very easily The excise
duties on British spirits amount TO forty.nve millions
We could charge our consumption with ten millions
These sums together make hundred and eighty
millions There stil remain hank notes. legacies, car.