The New York herald., 1864-12-07


nsduc, estimated receipt. from Ordinary sources,
$685. o0o there win remain TO be provided for by loans
S422 $50 oO5 To ths should added for redemption OF
Of certificates Indebtedness $47 1886 000 making
whole TO be provided for by loans S69 62 006
Assuming the correctness OF these estimates the whole
adding the foregoing amount Of S42 005 es,
mated debt July /, 1866, So 2,223 4.677, giving
- Inc amount Of the debt at the close OF
Tnis calculation is made on the basis receipts
that ss tss H ns
eioner OF Internal Revenue, that $500 900 600 may
BE- received in smother year from that source
Should this suppostion BE- verified and The new taxes
proposed Tor this year be laid and continued an edd
tiona fifty millions might be expected from internal
revenue Ihe secretary has, however, thought il wiser
70 $500 ,oOo 900 a. all that would probably be
realized.
IL viii be observed that the actual receipts from ord
nary sources for the last lscsi year varied materially
from the estimates. particularly from customs and in-
ternai revenue Tbs variation IS mputaoe 20 great
part to the legislation OF Congress at s last session.
nestle articles II Is apprehended, however, that smi-
lar results will follow for the residue OF the present
year in both these particulars.
The increase Of dtes on imports the Of Juno
30 1894 has already had tho effect 10 decrease mporta
70 anu sas same ns esIs
the three resnng quarters BY those OF the first in the
light Of former experience, will not Dc safe 70 cacu
900 tor the current year 10 the Judgment OF the
e,s han caisadvantaee 10 naDcia pon. Of view
industry ,ns
From internal revenue dsercnt and far more rss re.
bic result may so 1n.icipatsd 7na II will be non this
source in the year sloS 2eo 400 81 nnss, same
law which N te' months OF the preceding wear ony
7s7 u ,,v Ibe Ter new law, which Ese dncs
although nsil probably fail 10 produce amount o.
rerenue hsu ss 'or, may n not mater,d by ,se ;ont
resou, o. July 1884 be safe- mated TO produce
su should sSs'.s s causes s's whss
undeJ recedng laws, produced arge an increase IN
the cond year would be ikey tcbave similar effect,
10 ,,one extent, under the neS that least the
sant OF s25 900 900 may en ected from in another
Bet ,hs amount Is NOT. ID ought not be, ra,isfsc-
ctory three hundred millions at least should be |
the aud devise II modes which this
sirabe result be olsincd, snd the report Of the
views this spont as well as Tor macy valua
Die suggestions having reference TO the same general
subject.
rBE cotIrcrM INTERNAL RENsxuB
Tho Secretary will venture, with great de.creuce to
remark. that in bisjudgment commission, properly
sources o. revsnac ,v and SeysnT improyemeus IN The
modes OF Its colIecsn might IN country OF such varied
and ssope 81 snSa S
materially asss tho deliberations Of Congress and
i,esien l1 laoos upon on subec, 80 new TO leGiss.
resolution pciping to this end did bot meet the ap
proval Of Copress its last session. the Secretary did
feel anhTi2ed to institute inquiry through
instrumentsy, and he has bcsn unable adop, other
elective measures for the ssrne pnrpass After much
fore crpresssd In smother paceo which under the cir
cumtsnces no may be psrdoned Tor reerrDg,he secre
tsry obliged to say that ne
tor rasyg the additional revenue necessary 20 tho
pntiouatcredit thAn those pointed out by the comns
aionor. lie s aware or tho great Giccnics attending
too collection Of tho duties proposed, and feels all
the force OF the objeotious heretofore made to
their imposition He nevertheless believes tax On
tobaoco IN the leaf or uBmanuiactured. II II be
forced the only modc BY which ouiy mo article
he collected fairly aud equally aud through which
adeQu4 amount or revenue be ob,ancd from lie
beeyes also that although tax on sales would prob,by
fail OF collection TO extent, yet, by applyi To
stringent rules requiring frequent periodical returns
verified by oatn, coupled with the power 10 compel an
exbbit o books of scGouot, II might become a very
large aud important item OF revenue
RsviSoN or ruE rNtnNB TAX.
The Secretary would urther saggcst, whether the In
come tax shond rot be collected upon oil, without
emptou tbe Law as u s opent the door 10 innumera
bic rauds and In young and growing country, the vast
majority OK incomes small, whlie AL participate alike
In the blessings of good government Tho adoption NJ
scale augrentng the rate OF taxation upon incomes as
they rice amount though unequal one sense cannot
De considered oppressive or unjust iuasn1ch ~ tho
nbhty 10 ray increafes much than ithmetica
proportions ~ the amount u increase oi ncoIas exceeds