The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1866-05-08

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II was right however. soiock for some inerss.. Of
our revenue In consequence Of the close OF the war
andwe might expect something FROM the lately
inrsbolon, though not An amount AZ all 10 proportion
to their relative Numbers. Never fruitful il tara
BILE resources, they have less nov than ever II We
eoaid obtain from them enough, outside Of cotton.
the bills already passed In one or the other
House Of Congress for extra expenses on their no.
count II would equal his IMr. M.'sl expeotations.
Taking all these things into confederation, AZ we'll
AZ others not necessary TO mention, tho oomuittee
Of Ways and Means had felt willing 70 report The
bill as II stands which will reduce taxation the
present year in round NUMBER about tTb, 900, o0O
II would also be prudent 70 anticipate n large
diminutiou OF the revenue from customs II ought
not 10 be expected to long continue at doubls the
amount ever obtai 'ed In the most prosperous times
Our receipts from miscellaneous resources the CON.
ing ,ear would be very light as they have recently
accrued mainly from property disposed Of at the
close OF the war and premiums the sales Of gold
sources Of revenue already nearly extinct
The committee bad sought to mako some com
pensation for these various losses By Increasing the
tax on raw cotton three cents BY raising Il from
two TO Ave cents per pound SupposinE that two
million bales would be raised this year and DO
taxed-and he considered this low estimate Of u
coming erop---we ought 70 obtain from this source
revenue Of ~. 900, 0oo or an increase over the
tax at present In force Of sac 400 900. With this
prospect Of revenue from cotton, We could he
thought, release other tases to the extent eontem
plated by the bill L.fA WI T.
We could not, II ws would, levy an export tar on
cotton, and except for eouvsnience Of collection he
thought the excise tar better a. It would not ne
eesarily have TO be paid BY the planter. In taxa
tion We should not only be Just. but generous, and
the drawback on manufactured cotton, OF all the
taxes actually paid In any form, will rebound most
TO the benefit Of the Southern and Western States,
BY Inducing them at once 10 manufacture coarse
cottons and yarns and warps much more extern
sivey than hitherto. He thought that the South
people would be the last to surrender the system
Of tax on cotton, once shall be adopted and uu-
derstood, until the production Of cotton shall be 50
large ne to reduce the price below twenty cents per
pound or until II exceeds tho wants Of the world
this tar would not DO greatly folt BY Americans.
Should the tax at any time operate adversely 10 our
interest'-which he did not think II now could-it
must be reduced or removed as experience should
seem 10 require Surely, u the entire cotton crop
OF tho United States, save what We consume, could
DO exported In q manufactured state, or even Ia
partially manufactured state, instead exclusively as
raw material, 1t would be an end worthy Of states.
men, covering our country with blessings, and,
wrongng no man, would do much towards extin-
gushing resentments and restoring kindly feelings
throughout the land.
The Southern coast aud the banks Of tho Rio
Grande, the Mississippi, the Mobile, the Tennessee
and the Savannah would soon be decorated and en-
livened BY factories giving employment to thou
sands, and bringing the culture and contentment,
the social life and comforts Of organised industry
intoTegions where hitherto useful labor has worn
the badge uf dishonor. With prosperity, human
nature Is rarely disposed to make var. Make the
South prosperous, and We mako them our friends.
With freedom for all, and with such measures as
will induce them TO work. they may be,ome pros.
porous, and that through the policies Of the ma
tional Government. Even though the cotton crop
tho present season should DO but half Of the
standard crop, the price will be great that the
South will realize more money from IL than In any
year Of our previous history, the laws Of trade
for the last seventy years prove that short crop Is
always more valuable than a full ouei and hence
the uniform effort to hide the fact Of great crop.
The system oflevying tax upon home manufac.
lures wouldnev have been dreamed Of but for the
grave necessities Of the hour. Our treasury was
exhausted; people were unused to paying taxes;
the political horizon Of our country was gloomy
and threatening war Of illimitAble proportions
had already begun. Under these discouraging cir
cumstancss we had girded up our loins and become
selfreliant; and built up the credit Of the great
American republic In the hearts Of our own people
by seeking objects Of taxation which would yield
promptly and yield abundantly. The experiment
had proved q success, and the burden had been
borne by our manufacturers and by our whole poo.
pie, not only without complaint but without injury;
for never had they passed through time Of greater
prosperity.
Nj. Morrill, then reviewed the provisions Of the
bill In detail
Mr.. Raymond, Of New York, followed iu some
extended remarks on the subject Of taxation. He
thought the time was near at hand when we should
commence TO pay some Of the interest the public
debt We might set apart Atty millions for the frst
year, and increase this amount from year TO year,
as our revenue might warrant. Our sources for
were better than those Of other nations while
the amount to DO raised from them was equally
rs large. The Internal revenue Of Great Britain
per year was 1894, 900, 900; that Of France was
$3.50. 000, 000 while the assumed amount imposed
by this Government was $3.50, 900, 900 por year,
thus placing the United States Substantially upon
the same basis as the other leading powers Of the
globe. He then reviewed the principles OF taxation
at great length, contending that We ought to look
for revenue rather from the results Of industry
than from the means by which such results were
obtained. He therefore looked upon the income
tax as the fairest mode Of raising revenue and IA
vofed graduated tax instead Of the single one re-
ported BY the committee. He thought that It was
much easier for man to pay greater tar upon
the second s. 900 Of his income than q smaller one
upon the first. The pending bill, no said proposed
to reduce tho income tax In the case Of the very
mon who could best afford to pay It.
AT the conclusion Of Mr.. Raymond's remarks,
which occupied quite an hour 10 the delivery, II
was ordered that debate upon the several sections
Of the bill should be limited to e-mnuto speeches.
And, pending the question Of agreeing to the hrst
section Of the bill which imposes tax Of Ave cents
per pound upon cotton, the committee rose, and
the House, at 4.35 p. m, adjourned.