The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-12-23

Nav, 1868. .......1a. "a, 963, 1876 OF
June, 1e6S.... 80. 4,4oo,41l W
July, 1884,. 5,29S, 1867 10
August, 1868. ................5, $500, 2O5 35
September, 1868. ............ 6,136 204 43
October, 1863....,.........4 - 8, 81, 766 81
November, 1862. -. ::.i..:.. 1858, 1888 OS
December, 1868. DISQUALIFICATION, 9,034,50 "
January, 1854 $500. 49,. 9,1N,163 20
teDruary, 1864 ~. ~. ..... -. Soo,OS4 %
March 1S64...... SO. H.. 80. 149, 958 IL
April, 1854. ~..t.....,....109 w, II 20
May !ooi. 10
0uuC, 1oOt.. III .VSdyooV
The Commissioner expresses the opinion
that the law as 1t stood June 49,, 1864,
has not thus far proved more, productive
than the law it repealed. -, This is owing
to several causes In some kinds of pro-
duction the stock accumulated was large
and considerably beyond the immediate
demand. 8 The price Of raw cotton has adj
vanced since July, while the market value
of manufactured articles for. time suf-
fered marked decline, from which they
thave not yet wholly recovered The in
crease of taxes, moreover, always has the
effect to decrease temporarily, production,
and to abate activity Of inland trade, The
revenue in .-s....., ,....-... a.,
August was thus but 1915, 712, O66 81
IN september. ............... !ooi9,UO -
In October. go. .... ........ 1888, $50 O4
These receipts, however, do not repre-
sent the average RECEIPTS which may be
reasonably expected for the Remaining
ieight months Of the, fiscal year. The stock
sOf spirits on hand in July has been con-
siderably reduced, and an additional sup-
ply will soon be needed for the demand.
The same may be said Of tobacco. ~
The Commissioner proceeds to show the
reasons on which he POUNDS bis opinion as
TO the revenue for the current year. =.
TIE INCOME TAX. ,r.- isa,.
Itsppears that the amount Of income
tax collected last year was $23, 556, 633--
80 He believes this figure to represent
pretty fairly: what levy of s per cent.
under the provisions of the late law would.
produce. On this basis he figures 1884,
9S6, O35.21, as the amount which per
cent. tax would yield. In some respects
this. estimate, he says, will not be main
tanned; but on the whole he believes that
the product under the joint resolution
levying;a special five per cent. tax on in
comes of of 1863 will not be less than
1856, 100000. 'el.. igr .'.s Hrod $50 :1H
Vi s9i TAX ON SPIRITS. " No IL
Approximations that Congress may at the
coming session reduce the tax on spirits, or
levy q tax upon the stock in hand, are ex.
ercising an unfavorable influence on pro-
duction, though consumption soes on at
the usual rate. If those engaged in the
manufacture and sale of spirits were salts
fed of the pernanency of the law, and
that the market would not be excited by
the agitation OF the subject in Congress,
the business, would soon, find its, proper
channels. The Commissioner protests
earnestly and at length against frequent
changes in any law, and adds that it would
have been better to impose the whole adj
ditional duty at once on spirits rather than
at different periods; for the inducement
to accumulate stock, to await the opera
ton of the additional tax on the 1st of
January, still operates; and if the pros
pect of market warrants an early re-
sumption OF distillation the market will be
stimulated iato activity again for short
period, to be followed by corresponding
period OF depression. This inevitable
effect of irregular taxation might be
avoided by imposing the additional tax at
once Instead Of postponing it sixty days !;
but on the whole. the Commissioner sub
mits that it would be as well that it be
understood BY he country that the express
sion of the 0ir f Congress in the last act
is final. No IL. il,ie made constitutes a
fairer subject of excise, and none that will
produce so much revenue with so little
suffering to the tax payers. If the law
shall remain as introduced as to the rate
of tax, he estimates that we shall realize
not less than $40, 900, 900 within the re-
manning seven months of the fiscal year
from spirits, and double that amount in
the course of the next year. $50. /
The aggregate, receipts for the months
of July, August, September, October and
November are $75, $685. II. Taking
all things into consideration the Commits
sioner believes the receipts, exclusive of
the $40, 100000 from spirits and the
$S5, 900, 900 from special war tax on in
comes Of 1858, viii not be less than
$115, 600, 900 !; or an aggregate of 1866,
900, 900 as the revenue from excise for
the year ending June 80, 1856 ae1.I s' g.
With some changes in the administers
tive parts Of the law, he believes It will
yield In the year ending June. 80, 1868,
the sum Of $500, 600, 600 2 - go ,-
The product Of Che present year falling
$85, 00O, 900 short of the $500, 900
demanded by the Secretaryis arrangement,
the 'Conmissiohsf recommends q tax on
sales, mot As1 q permanent arrangement,
+, but as d temporary 'expediehE nlo1i =
30 Isi1 TAX Oh aAIks..d ;E3FdiDof
Figures from various authorities. ara
a na,x,x,oafod hxx m nxtondod IL a