The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-05

diers, that the republicans now retain in their
party.
Internal Revenue Tax Paid by this
City.
We notice by the official returns of the Inter-
nal Revenue Department that the citizens and
business interests of this metropolis have paid
the enormous sum Of thirty-seven millions Of
dollars of internal revenue tax during the past
year ending with the LIST Of January. There
was collected In this city, under this law during
the year 1864. eighteen millions. The amount
received by the government for 1866 Is, there
fore, more than double that Of the previous
year. Thus this metropolis, which bore the
great financial burden of the war and opened
its financial vaults at every demand of the
government for the sinews of war, is now, on
the return of peace, foremost in meeting the
nations obligations. The entire tax collected
under the Internal Revenue laws throughout
the country in 1864 was in round numbers,
two hundred and eleven millions, and this city
paid one-eleventh of this whole amount. The
six New England States paid only FIVE
millions more than this one city. For
the year 1866 the total receipts of the govern
ment from this'source will foot up nearly three
hundred millions, of which New York city has
paid one-eighth. These figures speak for them
selves. But, while every New Yorker has good
reason to feel proud of this record, according
to the constitution it is an injustice to the bust
ness interests of this city. That instrument
specially declares that Representatives and
direct taxes shall be apportioned among the
several States according to their respective
numbers" II the internal revenue tax for
1864 had been levied in accordance with this
provision, even excluding the eleven Southern
States, this city would have only been required
to pay about seven millions, instead of eighteen.
Applying the same rule to 1866, the amount
required of this city would have been less than
ten, instead of thirty-seven millions.
The enormous increase during 1865 is no
doubt owing to changes in the law, and its
more efficient administration. But there is
great room for Improvement in the practical
application of the revenue laws. The special
commission give it as their opinion that at least
one-third of the tax is not collected. From
facts in our possession we consider this state
ment below, rather than above, the mark. This
is unjust to the honest taxpayer, and calls for
immediate correction, if the government ex-
pect that the people will bear the burthens
which our enormous debt has placed upon
them. With all the increase Of receipts
from this city, there are millions which remain
uncollected, simply from the double policy Of
financial officers at Washington. There is one
point of recent occurrence which illustrates
this fact: the Commissioner Of the Internal
Revenue Bureau at Washington has twice,
within the last two months, issued positive
orders for the collection of the tax on sales oil
stocks made by brokers for themselves, the
same as on commission. The clear interpreta.
ton Of the law requires this, and some of the
brokers have paid it without grumbling, but
the majority have not, while some have en-
books o. their own, and thus, while collecting
the tax of their customers, have made no re-
turns of tie amount to the tax officials. Every
time that the Commissioner has issued an order
for the enforcement of this provision of the law
some broker with influence has visited Wash.
ington and secured An order from an official
who outranks the Commissioner, countermand-
ing that of the latter and postponing its en-.
forcement A great injustice has been done To
the tax-paying community by this action. On
no class of business will the tax be felt as little
rs that on the sales In Wall street II Is purely
q speculative business, and the tax levied thus
does not affect the mass of the people or in
crease the prices Of the necessaries of life,
whereas a tax on sugar, clothing and specific
articles of that kind affects every family in the
land, and increases the cost of these necessaries
But 1t is not in this sense alone that evil results
will follow the conflicting policy Of the govern
ment officials. Those brokers who come for
ward and honestly pay their full tax required
by law have just cause for complaint and II
will not be long before they, too, will hold
back and evadc a portion of the tax. When
the people once realize that Wall street specu.
lators can 90 to Washington and secure an
order relieving themselves of the government
tax, the Treasury Department will find that the
enormous revenue tax will not be paid as
cheerfully as now, and instead of receiving
hundreds Of millions 1t will be found difficult
to obtain hundreds of thousands.
| AMERICAN SECURITIES ABRoAD-While Ameri.
can securities are steadily advancing in value
Al - o-l