Daily national Republican., 1863-08-08

| ltha Artlclo IN -QnHAjlon vas p1DnR11A0 ~
m6AeFs and By business men 90 nSw article
Of commerce, and y was produced BY hand 0,
!. ms i.s,ure % under the he law, s unis.. IS .psl.i
" s1s% 1eaf fraSA.Sa<e.4oXs4e ~.
|afst turS and &seu sedI y dhsumpl pn b 1h,
e.: !. e: I: d(lrS,SN~sst NJ
Fourth: In considering Il law relating ,c
the use OF stamps II has 6eeh Che practice OF tn,
S%sf = Is ss M; ,.sisa. ~ n.7s. ls
strumepts snhject to stamp tsx, vhrhis ordl,
narily atyssS such d&effptks icrKs6y busi.
ness and professional men.
0al4saah1 Ahss salss, asA Wssalned ~ ths
patriotic sentiments Of the people, u Ia mat.
Yer for congratulated that the taxes assessed
have, with few unimpUrtant exceptions, been
paid with cheerfnlncss, and In no portion oI
Che country with mora slacrity than in the
States OF Maryland, Missouri, and Kentucky.
The receipts thus far have not correspondcd
tith the anticipstlous OF the ffamers of the
law, nor sustained the estimate made by the
Commissioncr In Decembsr Last. II 10 believed,
however, that the deficiency Is In . large do.
gree temporary, and that the average monthly
receipts OF the nscal year 1904 will be con.
siderably In cxccss of the average monthly
lst July, 1858. '''," ''
The set Of March 8, 1858, reduced the revc.
nues OF the country, and 70 the extent, ,roba-
bly,, Of several millions per anuum. The differ.
snce between the actusl receipts and estimates
made Is due In part to the action Of Congress,
and In part 70 circumstances connected With
the business Of the country, which were either
unknown to tho Commissioner or not sufii-
cisntly appreciated when the estimates were
made. Congress also imposed new taxes, but
the results have not yet been felt In the revenue
receipts. .-.. Il 'I.. .. ~.
The ettlmate Of the revenue to be derived
ffom the tax on manufactures was based upon
70 product OF the ycar ending lst October,
S62. The product was neresssrily large, grow.
Ing, In part, out Of the impetus given to that
branch Of business by the passage of the excise
law, leading manufacturers to increase their
Operations TO the greatest possible extent, In
anticipation OF the almost certain advance Of
prices consequent upon the imposition of the
tax aiter the 3lst OF August. -.
] The setivity TINS given to manufacturing In
dustry st once supplied the market with goods
and consumed the stock Of raw cotton on hand.
Hence II happened that the first year of the
operation OF the excise law found the country
well supplied with goods and destltute Of the
material for containing the manufacture upon
q large scale. The revenue was thus dimin.
ehcd In amount by circumstances which were
not clearly foreseen, or which were moi suffi-
cicntly considered when the estimates of De-.
cember were made. -.. ....
A corresponding impetus was given 10 every
other branch Of manufacturing industry duripg z
the montha Of May, June, July and August,
lSja, followed by decrease, more or less con.
siderable, from September TO tho present time
The stamp tax took effect, nominally, on the
Isl OF october, 1889, but the ofYice was unable
70 furnish supply Of oil denominations until
the list day OF the following January, and the
use OF stamps was not made imperative by law
until the LIST day Of june, 1853. II may there
fore be assumed that the revenue from all
sources has bean less than II will be In future.
IL II reasonable TO expect on increase In the
revenue for the fiscal year 1891; and upon
the return Of peace the receipts will enable the
Governfnent to pay the interest upon debt
twice a. great - the prossnt nstIousl debit, and
TO set aside a large sum for tho payment OF the
principal.
From time 10 time additional sources of in
lernal revenue will appear; and there ought to
be no doubt Of the ability Of the nation To meet
Its liabilities, even II tho war should continue
upon Its present gigantic scale till the year
The stability Of the system 10 iu the eoual
imposition Of taxes, and in a Just and impair.
tial administration OF the law.
gro. 8. boutwell,.
WASHINGTON, July II, 1898.
This rule has been sustained Dy the supreme
Court Of Pennsylvsnia. Psnnsyirdnia Csnirsi Rail.
road Compony.rs. }. ". RiLsy dal.