Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1864-09-03
ne lev &xeisa Law.

We are indebted to w. r. Downs, Eso.
Agent Internal Revenue for this coast. for
copy OF the new excise Law. approved june
TO- 1864. 1t is quite lengthy. making a
pamphlet Of one hundred p.ees A tax is
levied upon nearly everything. The tax mon
articles OF general consumption is COMPARE
lively light. The greater portion Of the rev.
enue will be derived from incomes. STAMPS on
legal instruments. and the transactions of
bankers and brokers. The Law ex-mpts from
taxation all incomes not over 5000. and all
traders whose receipts do not exceed g 900
ayear- 1t also exempts. in addition to the
5000 dollars, the rental Of homestead. In
addition 10 the general Law, which takes fec,
the first day Of Ausust. a special Law was
passed assessing five per cent. adiitionai
upon oil incomes of ls63-rnaking the tax
upon incomes for tina, year eight per cent,
The tax upon incomes for 1864 is five per
cent. The special tax for 1865 was Levied
tor the purpose Of bringing up the revenue Of
that year to the wants Of the Government,
1t was no doubt wise measure Of finance,
and when collected will not fail to bring IN
the value Of legal tenders to 20 or rs cents.
1t would have been better to have been ten
per cent, for WE believe that every five per
cent. levied upon incomes will raise the price
Of Treasury notes flly twenty per cent soon
as it reaches the Treasury. The five per cent
levy will yield over elOO.OOO,OOO. This
added to the revenue of 1864. will not fall
much short of five hundred million. This
surely does not look much like the credit of
the Government dcprecia,ing until its paper
becomes rs valucl,ss as continental scrip in
the days Of the Revolution, rs Democrats
arc laLoring to make the people believe.
The present rate Of taxation will pay the
interest at the rate of six per cent. per annum
on three billion o: dollars. and pay tue prin-
cipal within the next fifteen years, allowing
our annual expenditures besides. Who then
can say that there is any adequate cause
for the present depreciation of the cur
rency. No sensible man will doubt that it
has been induced by exciting popular alarm
as to the stability of the Government. and its
ultimate ability to pay and disposition to meet
all its pecuniary liabilities. In other words.
the Democratic party are willing to ride into
power upon the ruin of the National finances.
and sacrifice even the life of the Government
rather than fail in their object. This is the
the true origin of the cry of hopeless bank
ruptcy."
The INTERNAL REvENuE.-The new
schedule just received, lsvying stamp duty
upon nearly every conceivable article Of man.
ufacture, has created no little excitement
among our merchants, and revenue stamps
arO in active demand. Our present purpose
is, however, to relate an incident which oc-
cured in the eastern portion of this district
which We deem too good to be lost The
Assistant Collector was calmly seated at the
breakfast table Of one of our hotels, when
waiter approached with a huge cotFe-pot.
pouring coffee for the gueste as he went the
round Of tho table, An individual who sat
opposite. looking up all at once, slipped his
hand into his pocket, produced revenue
stamp, and clappcd it on the coffte-pot ex-
claiming "H-ll man. you don't intend to
retail all that coffee without stamp do you T.
This, We believe oil will admit, is clappiug tho
climax.
"GLAss HOUSES. The young man who
is supposed to control the columns Of the grand
clique organ. is still prating about what 1--WE
himself have not said," and trying to inn
pugn the loyalty Of a man who battled for the
old flag when our contemporary was in swad-
ding clothes. Now let us sec what he has
said. Will he deny informing several rcspon-
sible citizens Of this place that he came to this
coast to escape the draft 7 "1hat is the
question" Running off niggcrs in times Of
peace and enlisting to put down the flames Of
war he assisted to fan into blaze is quite
different business, we admit.
~ The Collector has received the instruc-
tons requested from tho Treasury Depart
ment in regard to the admission Of foreign
vessels to our waters. with certain privileges.
The position assumed by the Collector is sus-
tanned. Foreign vessels will not hereafter be
allowed to clear for more than one port on the
Sound.
t. Flour sells in Portland at e6 so for
country brands; eS 90 for Standard Mills.
Beef sells in MarysvilIe. Cal. At S and 6 cents
q pound mutton and pork 10 cents.
OvvrrraI VIsIr-Wm H. Waferman