The sun. [volume] (New York [N.Y.]) 1833-1916, 1864-11-19
Taxation OF saIes the Trae source ei
Revenue.

hcveuues
1ur elections having Terminated, the two ques-
dous Tat demand the more immediate and earnest
attention Of the Government and people are those
Of finance and war. OF these the financial subject
may lie Chased as hrs. in order and Importance, ~
nilordiag the means Of carrying oh tho war aud
tupplyins Its burdens and cSictions. The methods
Of doing this have teen needessly complicated.
The whole question resolves itself into tho consid.
Grafton Of the lest mole Of distributing 70 each
person In tho community his exact proportion Of
the Losses cost the war. In other words, the
people who do the fighting mus, be fod, Lsid.
and supported out Of the surplus earnings or pro-
auctions OF .hoso who remain ii homo 81 sne farm
and workshop. II ia n the highes, Importance
to sN concerned that these surplus productions
shall be collected in a manner that will entail the
least possible loss 70 the community. glance u
our financial condition shows that the methods
heretofore adopted have not accomplished the do.
sired end. The systems Of loans aud taxation re-
sorted 10 by the Administration stand out a. The
greatest failures Of tho war. They have NOT
proved adequate for TIE purpose intended,
and public opinion 10 almost unsni nous In do.
handing change Of some kind. Under tho pres.
ously increased The cost Of living has advanced
enormously and the crcdi, Of the country is seri.
ouslv IL. a.rcl. Indeed. u Is only too eviden.
that Persistence in the present policy Of loans and
taxation during another year Of war will result. in
national bankruptcy. II IL also . glazing fau,
nj the present System that 1t places our great and
prosperous people In the false attitude before the
world Of being unable 70 carry on the war, and
mus represents US to DO IN condition OF oxhaus.
ZION that Ia by no mcsas llslici by fscts
Under these circumstance, 1t Is apparent ths. q
change Is matter Of necessity rather than choice. .
and IL Is therefore highly desirable 10 place our
financial policy on q sound basis Of taxation oace
for all. But Of this II ia TO be regretted tia, there
!" very little indication. Most VI the schemes
suggested for the consideration Of the mex. Con.
greaa. 70 far from being founded ON any now or
correct principles Of political economy, are actual.
iy based upon perpetuation and aggravaaon Of
some Of the worst features Of the prescu, system
FOR instance. II IA proposed to increase the tariff
AND 70 double the excise upon certain articles OF
nome production. These plans are based ON ial Sc
SYSTEM which Ignores the lessons olexporence III 4.
taxation beyond a CERTAIN proportion Of thirty o,
forty per cent of the value ceases 10 b nrouc,iv.
"'S' articles are now taxed and tar .ilsl TO IN.
~"ouh' OF from eighty 10 four hundred Der cent,
ahd 'he consequence is that the people cease to nro
du'e ana consume them, and the Treasury i, ma,
"''sd As WAS anticipated By isnoran, fnuneier,. A
'o''~' system Of taxation would levy only
upon consumers leaving production uncheks
ana oven taking care TO stimulate it, but Came ,.s
"au 1he administration have chosen 10 atlopt IN,
eNP'ooo' european systems winch were neither
adapted to our wants nor the peculiar conditions q
our people Tee result 10 prces,l. what was pre
oIc1'd by the scS. II the system + taxing ,,l ..
which wa re, 1mn 4nded by tais Journal hid bee,
adopted At the "'mn. snl eneat .. the w.r ITS ca,
would have been l.@sr 4 one h,lI. a. IA,
would not amount to ten,h part of what
10 now PAPER money, n We had any, would
NJ par with gold, and the luricns Of the war woul
'e scarceiJ FELT, even by the poor. four n,
cent tax on sales would produce, without pressin
'hJu''ousiT upon any ex!,ting interest IL Ito con
mnnisy, double or treble the sInouu, thu, !. ro
s''Noo from tsrif and excise tax Of two or Dir,
"'na'ed per cent? that brushes the energies Of \
''sSos' lis not too late " resort " this sys,en
Ana ~ 70 10 hoped that Congress VI
>so we matter into consideration n tho uext 40
"on. mo sdoption of this plan wcs,ld difYuse M
"A"y and energy Throughout. the ept tire coun,r-
and pour An ample revenue Into ,b.,r,..r,,v Ar
nay DO made to supsrsede the neu ,su,y Of loan
boon contamination would carry . moral vs,u,
shss would b q incalculsbls Service 70 u. un,,
aus. Ths D'sa d tAxasoa Of ri, would mai