New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-05-02

other Taxes as high az you VIII, 50 that you de-
wise aud enact such guards against evasion and
I fraud as will make il erTy mans interest TO pay
,rery cent that ne taw calls for. But
! if half those required TO pay shall with
impunity evade the laws ozactions, the
other half will pay grudgingly and in q
spirit of discomfort. we will not judge the act
on this head till perfcctedi but if Congress shall
call on those who pay all that is required to
Idouble their contributions to the revenue, yet
leave the other half as free TO shirk as they now
are, the act will prove as unpopular as its op-
Grafton will be oppressive and unjust. But
each Will pay with comparative alacrity if he
sees that every one is made to pay.
The impost on stock sales stands We believe,
at mill on the dollar of nominal capital trans
fe,red. This is o pretty steep tax, and will do
very much to drive stock gambling out of pub
lie sight. And III. does only this, it will prove
wholesome aud useful exacdon. We do not
suppose gambling in stocks, any more than
other gambling, can be prevented by legisla-
ton; but where one fool is now pluoked in a
faro den in this City, ten would be if gambling
we're not forbidden by law. Hence we pray the
S,nate's Committee to let this impost stand as
tits. whoever really desires TO invest in par
ticular stock will rarely be deferred from so
doing by tax of one mill on the dollar
of nominal capital; nor will ho Who wishes
TO sell stock he actually possesses be
deferred from doing it by that tax; but
this business of buying and selling millions
worth of stocks whereof neither the seller owns
nor the buyer wishes or expects to take dollar,
will be enormously curtailed by this tay-as il
should DC. We hope TO save By it at least a
quarter Of column por day Of precious space
that is nov wasted in recording The bets Of stock
gamblers. But we warn those who talk Of the
Treasury realizing Ten or Twelve Millions per
annum from this impost not to cherish absurd
/ expectations. The tax will do good, but mainly
IN another way Men who now bet millions pei
week at the Stock Exchange will hereafter bet
| thousands there and tens Of thousands clandcs-
tuely-in all, not 1.-THE Of what they have re-
Gently done--a most salutary and needed re-
treuchment. So Messrs. Fcssendcn and as-o-
ciatc3 Of the Finance Committee please hold
on to the House tax on stock sales, and don't
reduce it a fraction.
We hope, too, that the impost on Whisky on
hand will now be acquie.ced in. Every gallon
tit is now worth far more than its cost, this
duty included; and it is fair that at least part
Of the extra value created by taxation shall 60
into the needy Treasury. Admit that there
would be eyasior-smuggiiug: We contend that
| IT would be perfectly feasible to discover and
assess most of the Liquors subjectto this impost,
and that, at all events, the experiment is worth
trying. And Congress has just as clear right
to tax the barrel OF Whisky that has once paid
excise as thg watch, dog or carriage. Do lie; US
see if the c4fgeuce5 Of the country arc not more
potent with Congress ,tar the ayarice of the
specializing monopolist Of whisky!
Lctus hope tina. The tardy elelgy cvinccd by
the House in dealing with tie vital slh' .c' o.
taxation viii be emglated if not surpassed ~
the Senate. Let us try TO have the enhanced
rates contribute TO tho immediate relief Of the
ovorburdeucd Treasury in this hour Of our Ma
tonal peril.