The New York herald., 1865-02-28

ths neossy Of Isvying most erpehsicusy the l.rgsss
possible taxed TO do this must extend Il 70 nsary
of some OF these taxes that they srs unequa II could
only be replied that the money was needed now and 70
the future mus. bo lefs changes dcsa.ed by rper
penence. iaxe6 levied now must bo paid by those
at home who do not fight; IL postponed, they win
fall in 9 measure on those who have fought
Taxes paid now were paid In deprecised currency;
postponed they must be paid In GOLD II paid now the
tendency s to reduce the price OF commodities, and
enable the government 70 borrow upon better terms;
hereafter What we pay now now, wo pay = without
,Ssssod what we pGpons must 30 paid
that the war had given great activity To all classes OF
dQsty, yielding enormous profits that was proper
that the government should receive full tax before
these profits were consumed in expenditures sys-
tenn fully enforced would release the people from
heavy taxes when the reaction Of peace should lessen
the profits OF industry. We could increase taxes
We should prepare to reduce them Taxes would
be paid cheeruly in view Of the dangers threatened by
secession which the people would Complain when tho
danger was past The spectre Of repadia,ion would
trouble il did duty Of tax paying ~ we'll
the soldiers do that OF fghtng therefore every die
manded that the largest taxation now be fear
lessly assessed and impartally collected. The
to the excise laws Our industry now was sufciently
protected by the necessity Of paying custom duties in
gold, and we were In no condition TO protect
merce from competition, because vessels the
prey Of British pirates Our immediate want AZ revenue
payable in gold We could not orego hai with
out destroying national credit Our tariff laws must
then, be framed solely with to reyonue He would
only modify the present duties when such would
increase the revenue by increasing the duty could
enhance the revenue without diminishing consumption
IN greater degree II should be done. When indus
try employed In repairing the waste OF increased
importation may become vast injury by exhausting tho
country OF gold The true principle must be 70 frame
the tariff laws so as to produce the greatest from
the least importation When the the English
rule should apply Of leaving the requisite duties the
fewest articles, with view to increase commerce and
foster industry. He believed II the Commissioner Of
Revenue and his subordnaes did their duty $500 900
would be raised during the calendar year. ample
basis OF public credit which would rapidly reduce tho
public debt II the should close ths year sys-
tenn Of finance would soon enable us 10 commence the
reduction OF the debt
Mr. SUMNER moved to strike out the clause In the bill
Of last session. imposing a tax upon books magazines,
reviews and other printed matter.
The question on Mr. Summers amendment TO exempt
books from tax was decided in tho negative.
The question then recurred on the adoption OF the
amendment Of tho Finance Committee TO exempt maya
zines from the book tax of FIVE por cent. 1t
jected. Yeas, IL nays 20.
The question was then taken on the Finance Commit
tees amendment not to exempt bibles tcstaments and
common school books from taxation, and adopted
After which the Senate adjourned