Daily Richmond Whig. [volume] (Richmond, Va.) 1865-1869, 1865-05-18
RICHMOND WING.
MORNING MAY is. 1866.
SHALL THIS GENERATION PAY THE
NATTONAT. DFRT7

The New York Times discusses this ques-
ton 81 len-th, stating that the war will leave
rs national debt of about three thousand
miAiOns. The point is:
"Stau the republic be relieved Of this
great burden by the people now on the stage,
or shall the bulk OF it be devolVed upon
succeeding generations ~
According TO the Treasury Department,
the maintenance Of the present taxes and
o her sources OF commissioning that the
advance IN population aud wealth tfom 1860
VII be At least at the same average rate as
in the decade before the rebellion, will dis
charge the national debt, principal and in
tstet in two decades from this time. lt Is
hsld Tat though this view be correct, the
eud in view does not justify any such strain
upon this generation. The national credit,
NOR q tu.ure national prosperity requires Il,
while it 10 held equity iOrbids that . genera
tioa which has already borne so much IN
carry ing through . war for the benefit OF all
ojnng generations, should assume every
remaining lurden, simply that our success
BOrs may have no lncumbrAnce. The true
p ,hey OF the Nation Is held 70 Do the exam
pie following the Revolutionary " az aud the
War Of lsl3-r5, the debt Of the last being
pad Cd in Isis, when, as nov, internal and
direct taxes are pressed until 1890, amount
ing, AZ tne very least, TO two hundred mil
lions annually.
,.Sueh An imposition" il is said, "Will
indeed. eXtinxuish the national debt, but il
viii be g. unprecedented AS il Is eXtrAordi-
nary. Itis true that the amount OF debt
left by this war amounts TO about fifteen per
cent. OF the present wealth Of the loyal
Sites, while that leit BY the last war with
knglAud vas only about seven per cent. Of
tlO estimated property OF all the people At
that tine. But this difference is too small
% .hord any reason for such an immense
difference in direct taxation. II Il MAS Just
aud Nise then 20 rely upon other means al
ulOsE AUleiy for the eXtinguishment Of the
dsDt, when Was effected in twenty years, Il
esnnO. DC less 30 nov, even if il should re-
QalEe . much longer period 20 accomplish
t-S sud.
Ths D. esent system Of revenue bears very
hard u0S only uPOu the comforts, but upon
.tls nee, asaIies Of life. A man with 4
l,,s income Than six hundred dollars may,
iu.trSd, escape the income tax, but there Is
Mt = man in the country so poor as not 10
u,S ArIiciss which have TO pay an excise
y - d. can wear . shirt, or coat, or hat,
or = PAR Of shoes can wash himself with
sJAp or shelter himself with an umbrella, or
o. 80 on bedsJeAd, or take medicine when
han SICK; eau burn gas or = candle; can Ad-
V,rg.ss for . situation; can buy shovel To
al WITH, or = mug 70 drink from; can mus
ARD lis meat OF salt his potato; can put coal
Z So nls crate, or . hinge upon his door, or
4 ass IN o BE window, without having 70 pay
OspeEuIpg IN toe shape VI excise. The
gsus sinSly may amount 70 little, but in tue
ssyrsgaIs ,ney trench severely upon slender
meas. AL the neceSSAries Of life should
De :elisvvd from such burdens.
We should have no excise tax upon any
article Uf manufacture or OF TODD. Our rsve-
nue. from that source should be derived, as
q almost entirely is in England, from to-
bIccO and beverages, and other articles that
any IA -nay abstain from if be pleaSes.-
Th.s, VI cOu Sc, will materially diminish the
to hundred millions nov realized from in
tarnai IgxatiO-. Yet enough would be lett
1, form. whea combined with the receipts
from the -rii aud the public lands, very
cOusider1Uio sinking iund for the national
debt, after paying the interest and she cur
], Ut expenses Of tie Government. If a
StI, larger sinking fund Is deemed desirable,
4. could De obtained, Al foreign expense, by
. export GUY up "a cotton, tobacco and
O..sr staples 4 tue reconstructed Union,
Wuea Europe must have, whether We tax
than n- mt