New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-12-06

the states lately 10 insuection held being an
property U Of the loyal State. Is valued At s
Increase Of 1866 per cent ove 1885, together averaging
Now taxing the Increase Of wealth in the loyal States w
the years forn 1860 1870 25 per cent, have
the ether states at the same hgurc as in 1850 wihca, Allow
ing anything for ncesse have capital for 1870 sn-
$3.50. 10000 upon which payment on The dsbt y
900 s 29F.T cent II we od bG. Is per cent tia
probable valuation in 1870 the charge OF s20 upon tho
products Of that year VII az, be zs per cent Bat soins a.
for 1870 the basis fol- calculating the wealth pro-
duets .; Ss yfas @ 30 Rrt cent and rsd T. pa
$40 goo 600, upon which sum charge Of S2ooToooo falls
cny 100 per cent that Ct 1899 gives the years rOducs
At g5 600 CO. upon which r2o000 600 amounts 70 onv
year 1900 the tax upon the products Of the year would I
10 O5l2 per cent, or less than oneihrd Of one
be sda 1i in Tor al other expenditure,
y ~ 600 GO IN 1880 $60Cooco in 1892 and Si10C0 0o IN
100 t !s Of cs 9'r end Industry in 1875 ass cent cent
1890 liz per 1890 and baey ssyentenths OF peg
Of the National GovsraEent TOR the payment OF tho
debt in thirty years. and all other ofdinsry expense begin
ss thon cent Of the resources 81 'he county aud nd
in soyeu.tentLs Of one per cent.
Thec estimates and the basis uPon which they rest
su,itned bv The result OF English experience under deb
,r..,Iri Ia ger than ours. with ordiuaIy and
dinasy expenses at least one nan iarser tA,n ours,
of much less wealth produeing power Tue Govern
charge: for al eiPena.,s.es MY ysa; aso.
80 % have row fallen to one pound nine We COM
.nce our national burdens with resources that, IN the
mi wear will be required bear aggregate Of es. than
per cent q dollar m twenty
Of these anticipated results bat the estnats
have been made upon what as reliable Data ard
wei calculated to encourage Congress IN 'eSyns taxes
a.r sra tie secretary conclude. tina,
81 f.reu for raising the necessary eyenue) would
y. more acceptable the people better calculated %
.reng ihe national credit than one winch seoad poys
that 500 100000 commencing VITA the next neal yeT,
he lis He'd,
principal Of the national debt Tie estimates oI me ns1s
meal year indicate ihat very mech larger amount could 10
30 spp.ied without an increase of tsxes.
Te.ore CONCLUDING bis remarks upon the nations: debt tic
secretary would suggest he ered, of the 5o bods
ned under the acis OF February 25 1881 and June % l@
would be improved Europe. and consequently tar
makrt value advanced al home If Congress should decrs
h,t The rrciu a. well interest of these boaes to
be paid m CON ne ponsy o. c , ,,a ss. tss
Inc eb,ree OF PROVISION in tkrse that the principal
the bonds sucd under them should be pad IN CON, Us
such proy j. contained IN the act under wlcH the II"
were Issued has created appreciation IN Europe ts
tie s2c bonds might be called in at TIE expiration Of hyo
year. and paid IN United States notes Although y 10. a
sbe thst orr securities should BE- held ont Of the l,id
states II doshe that they should be Of COED eret "a
markets exert upon i therefore important a.
ell risapprehensous on these points ehona os W. "
expci, declaration Of Conerea. that 'lese O'nu ' " "
In view Of the fac, that the exemption Of oovinnlhs
securities from state taxation l.. ~ usny PERSONS e9'ef
on unjust dicminacn in their tVoI en4ts may oe 's-s
to induce Congress to !eses upon ,he ,Goee, u s
asston bonds aid ecurites row ou'ssn4n<
he
~ % ,,, under which the securities been Issued and
h money loaned tie to Tie Government and would
70 yat;on 10 disregafd II IL would also. toe udgnsas
Of the Secretary be UNIV for Congress TO grant 10 ise ss
the power which they will not possess unless Conferred -
expires. oonsssons enactment, Of imposing oea '.a.s up
,ued such tax aon ia sny form, woGd result in sedosr
not fatal oubaAssment 20 the Government and in.ed
Of ,i,yas would ryeu,asy insie Tie sres. Il the
peope who bear their full proportion Of the burden u
tie public debt Ti subject IA re- alton to which there
sho1 lie 40 r.nee of opiou Every tx.plyer persons
sfv in
,ccui,es IRE TO be subject to local taxation. faSss
vary largely in diarrsnt States. and in iiaerat
counties and ciies Of toe sane state ana tie
everywhere high that unless protected against then TO
bou iao which lie present oeb be funded can1o, -
distributed smons the people EXCEPT IN some iasot.a c-
t,s unIe. tey Bear high Is to mstsds
b severely oppressive ard render the prospect Il e<
tin.u..hmeut w-ineh hopeless Exempted rom Goa ssAa
ton the deb, i expected b" funded at an early dy u
i've pr cent ocs taxation l. allowed no PR
ten OF he deti which Ia due within ,he mex; eo ,ss a
be funded At bone at les tLa eiiLt per eeh, ie A
Of the United States cannot afford TO have Their bardrn: tus
increased u g. s0 evident that The relief which isc tex.
payers woald obtain from Government iSaiion as TIE res
% low Of interest tie national securities ~9aid
least, be the no.ess, ocs. taxes to which zen
would be subjected on seeor 81 toe exemption Q,
securs while nthose securities should bear rate y
interest uc en Secure thcr sale when .aojee to local
trc Few auy Of th,n would long remain where those
sre. could reach them. they would be rapidly 'rsnsise
70 other cou-ties no the bands OF foreign capi - ay9
thus the burden OF paying high rate OF interest w3nd
be e epeu tie people Of .nis county without
The present system Of internal revenue one OF the esr .
OF the wax. IL FAMED under circumstances ~ Ps'ns
n.city sfofaing little opportunity Os careful ana
STe,;iea Of .ae sources Of lts success ho-
ever hss exceeded tie anticipation. q ,s adhor. s'a j.
most honorable testimonial 10 their ~NSoh' Iu 70
patriotism tie people VINO have o. eheeay submitted %
Nth tie restoration Of peace industry Is retITnns assa
its forn er channels and revision q the SYSTEM now ue
comes portan, accommodate 70 the changed AID eha g.
ing condition Of the country. - a.. .. -
mistakes abuses and decep,ons Temptations to di'ao.,y
fraud placed before the revenue officers and 'e
payers. aud both oieu thereby denoTs ked hoet m e
who their in full INJURED II nor fihe' o,
ingenuity OF those who successfully e'sde their share 0 's
The multiplicity Of objects present subjec, to taxation q
one Of the serious objections to the present
Many Of these yield little while Its collection
troublesome the collector and irritating and offensive "a
the taxpayers This multiplicity sso involves as many
fraud and many difficult questions FOR de<
con the objects from which large revenue derived
To impose judicousy rs 10 obtain revenue ioIs
REFRESHING industry is one OF the highest ana ino'' a.a
duties deyosed upon Congress Tsxlton which IN one year
msy scarcely c may the neat be oppressive ana
which be burdenome to those who are vel e,-
Every branch Of industry has IL. infancy and ought to De e-
by hbes rssson Whatever Of industry OF enter
prise destroyed by inudoGs taxation or otherwise,
9 damage to the national welfare.
Heavy taxation may drive capital from our shores or pre-
vent It's employment In the manner most 70 s
country and thus prevent that demand Tor labor "hieA s
best security for its proper reward
The taxation which Il extremely productive usy in
few become unfroducve, or ."senaef sp OF opp
and discomfort which endangor the national cred
lis Important therefore, that revenue system shoalt
be frequently and carefully revised Ia order that may "a
accommodated the habits and character of the people tic
industry Of the country 10 LABOR aud cas wages at hond
sbros IL is also OF the highest importance thai
should be careful adjustment OF our internal u our X
= tenrl revenue system. .
That views somewhat similar these entertained y
Congress- Is indicated by tie provision IN the anenca'or @
& of March 1875 by which the Secretary OF the Treasury
authorized to "epPout commission, eonsistins Of ITe
persons 10 inquire and report the earliest practicsbr o
men upon tho subject OF raising by taxation such eEne
be order o. supply the ants OF TIE noNe
nen having regard TO and including the sources Tom ~,
such should be dawn, and tie best and ss s
u cent mode of raising the same