The sun. [volume] (New York [N.Y.]) 1833-1916, 1864-12-07

recommends the sdophon OF q tax COM
mission 10 inquire into sources Il re- !
venue. Tho Secretary recommends m increase
IN the totscco tax. and also recommends
TAX on sALrs.
Tie believes also that sithough tax on sales |
would probably fail Of collection to somo extent |
yet, by spplying 10 It stringent rules requiring |
frequcn. periodical returns verified by oath, cou.
Piled with the power 10 COMPEL exhibit Of toots
Of sccoun,, II might become . very large and i'm. |
portsn, item Of revenue.
The Secretary snys that ssOo o0C 900 At least |
should be realized from internal duties his for
Congress 10 sc ect the and devise the modes
IN which the most desirable result can 10 obtained
He suggests whether the income tax should not be
collected from all, without exemption. Ia connec-
! ton with the subject Of increased ,sNaton, snd
the necessity OF providing additional revenue from
ordinary sources, tho Seortary calls attention IN
public domain, and more especially 10 that pr
ton of II aboundng In the precious and other
metals which, by The policy OF the Government,
Las tcen reserved " the nation lie hopes that
| Congress may be able 10 devise mode by
which thesc ands may be maze available to an cx-
tent in some MEASURE proportiona,c 10 their yearly
| production. Ho suggests losfd Of officers hs
| Commissioners OF tho sinking Fund, and whether
| such income may be received from tho public
| domain from sales, or in the share OF rents or
| royalty, may not be benehcially appropriated To
the same purpose.
THr GOLD QUESTION.
| Inc ekpsIleneo m 'he ieW past IN mpnihs oannt
have failed W convince tic most careless observer
thai wnaeNet may re tho eneet OF edunusm
| circulation upon the price Of coin, other causes
aaNe a n, ~ sI,s' snu more uee'etlous VI.
| rose from about 81 so to 81 30 In paper for one
dollar IN specie snd ,uosequently ioli IN as short
| period TO 81 - snu sheh Rsn rosa as rapulE 70
| " on and All Win Iut any as gnaolc eauae uN's
ablo ~ increase decrease IN tie circulation ot
paper money or an eNpahnoh or cont %uoh oi
credt or other similar influence on we martt
.enulng' 20 occasion nuc'uAnon , 10 yiH'oh'. ~ - 70
quite apparent NN 'he hout'oh oi tho Trop"in
hny DC iound In tue nnpairionc "cte1 enemies !"
rsse ,he Irloe OF coin' esAruoHso thc INJURY IL
ne'e' upon INC cnuntry'or ueHraple W lnnlo' upon
II. All such attempts should lie Indignantly
irownod upon by patriotic community, and the
Efforts OF all good citizens invoked TO counteraet
suoh nsisr'"us schemes n law proSldins ior tLo
| exemplary punishment Of combinations for such q
purpose might tend to Vindcate, II II could not
PtH'ce, he pubuq rights IN thls ressri' anu sh'lld
|, | W, - ,u' ss pssi' e' Iisluiy onotN,u' ,
"nte i 'ns seerc'aiy !. eearIy =" the opinion nss
we Puunc iAtn 70 pay ,ho tolu interest on oohhs
aHssny ssuen' snouiu oe preser'eu, ne IN i"rccd
p 'ne couuiushn 'hh' VIC Shoulu III me iuture rely,
, ioI 'pe 'ho' par. upVu TeVut ueh 'oarihs lncfest
IN currency cou'oruolc INTO bonds the Interest OF
, whleh is pafaoie IN com Notes bearing al IN
Cte~eI tWe @, interest," payhhie ~ currency, W.
ue'uau,e ~ va 'uree S o. nyo years anu eonycfu,Ie nv
nH'Iy t INTO oso - no, Sonat, would ne Pree1anl,
ue Judgment oi tue secretary, 10 any other iurin
{ OF @1lrN' Bonds AZ long dates the interest oil
WnlSh ~ payable IN currensJ at the usual rate,
A Non,u pe less atraahVe aud IN The end involve a
A | mum eirNlcr tTrlnce
y As 70 lorulsn loans he saws the possible benefit
oo uetlNyd mas not secured sufficient to counter
Z .aunec V'ntl A.,h olIoAng conAdtrahons. Ur
b nooa uo' ueeNe mat patriotic people, btru,gliny
o. ."r nAuInM rNsFhee and possessed %. ample
: t" neah" sIo'i voInlel MN 10 aiopt measure ~
Ilusht WIN injurious consequences ~ an issue Of
4 paper mOh'y Ooyond tne hmts p'c"rbed Tic
Ite'hoi' H""o'cf 'S ono ior mat people To decide.
1 iucy h,o pIunouuoeu ioi continuAnCc ul the
Nhr until ts great otJecls snail bo hccumplshel, m
unnlntaNc"u'e 'eiihs IL 10 1"r them iuTthor h de-
!. EImine Nhe'het he necessary means shau hc iur.
nihhed, py Way OF loan and tho circulation he
q resraineu "tu'n sAie limits or whether they VIII
prefer 70 cuuIe me sVB oi exorbitant prices with
loss OF c'. ~ 'ie ptes NJ and doit ol neeIlers
. malnitdde sh'nleu upon the future notes, LearnR
A an increase1 iao OF interest," payable IL currency,
redeemabo ~ tnt' OF hVc years and convertible nj
+. maturity nlo uIo-'"enty bonds, would be prefer
able ~ any o'uet form oil security.
I | Ihe secretary states thht the increasing number
OF national bankh' ana the number of sound State
q banks, re)rganaing under the national law, de'
. monsirAtes the soundncss and superiority OF TIC
ne" System. While he would lot recommend uu
N friendly Legislation against the state banks which
N exhibit lhudsble aacrity in rcorgsnizing under
N the nstional law, he would vet urge the propriey
n OF continuing the pol cy of such discriminating leg
iSlation as w.l' induce the withdrawal oi all uthci
circulation than that issued under nation
al authority. The Secretary points ont
that the Inadequate compensation Afford, d
q for others Of the highest trust has In
creased the difficulties Of the Department., in ob-
x tanning suitable persons 10 MI them. There are
always numerOus applicants for every Office bu
i Tor positions such Tie Ass. sant TrCuSlrcrsh!l q
t...s a I..N a..