The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-12-16

43 a Ll0eTGL G1ScO1t7I made on the 1UOCe
rates eohen advertisements are inserted bv
the month or gear.
The Sources OF Our National Income.
The subject of taxation is vital
one to every person in this country,
and it becomes deeply interesting to
know how our Government meets its
enormous obligations, and where are
its great sources of internal income.
The dry report of the Commissioner
of Internal Revenue, in this view,
will bear further analysis. In three
years, we learn from his statements,
the amount from internal taxation
has almost trebled itself-rising from
SLY, ,145,74S, in 1868 -'64, to $780,
906, 1884 in 1866. OF this large sum,
nearly one fifth is derived from the
income tax, or $6O,S94,135 this,
again, has more than quadrupled
since 1S63-'64, being then $14, 919,-
279. From this tax paid on incomes,
$26, $40, 500 were at five per cent, and
$34, $40, 1872 at ten per cent. The
Commissioner makes returns of the
number of persons IN 1876 districts
or nearly 81 per cent. of the whole
paying taxes on different incomes,
and we discover that 100, 1S9 persons
IN the free States have less than
vi, 600 per annum, and more than
$500; 162, 513 have more than 81, 900
and not more than $4,000, and only
$1,000 show an annual income of
over SIS, 900.
We next observe with great salts
faction that nearly 80, 100000 of our
taxes Tor $S29, 1913, 17S) are raised from
distilled spirits and $5,115, 14O from
fermented liquors. The experience
OF all countries agrees that one of the
most profitable and the souudest
objects of taxation are distilled
liquors. Such tax encourages the
use OF light wines, lessons intoxication,
and is laid on luxury, and per-
nicious luxury. We regret to hear
from the report that this tax is so
largely evaded, and to observe that
it has only increased about 1000, 900
since 1914. In the fiscal year end
ing November 1, 1866, it bids fair,
however, to be much larger, reach
ing $37, ,627, 595. The tax is now 50
q gallon, or ten times the tax of 1864.
Again, among Injuries, we find the
tax on tobacco to be $12, 339, 921 in
1866, having almost doubled since
1864; on cigars, So, 3,474, ,43S, or more
than doubled since 1864, when it was
81, ,255, 424. The production. how
ever, of taxable tobacco has fallen off
singularly from 63, 1872. 426 pounds
in 1864 to IS, 749, 351 in 1866, which,
even making the allowance mentioned
of 100000 pounds entered early
in 1864 to avoid the duty, would
seem tcindicate that the tax had been
made so high as to become prohibit
tory, and thus cause our people to
give up to certain degree this
indulgence. On petroleum, q very
questionable tax raises the large sum
Of S5,317 1896, more than doubled
since 1864 On iron and steel the
tax has nearly quadrupled in amount
since 1864, being $13, 72S, 133 against
$3,694,169.
A very important source of income
to the Government is from revenue
stamps, undoubtedly one of the most
Judicious taxes on the list. This has
risen nearly three times since 1864,
from SIS, 1874, 945 to SIS, ,O44.373. Lii
censes, too, have more than doubled
their return; it being $7,145, 38S in
1864, and $18, ,015, 743 in 1866.
The taxes on bank dividends
amounted to 81, 1856, O23, and on de-
posits to $1,000, 635; on insurance
dividends and premiums, to nearly
~, COO, 900; on railroad dividends, to
nearly $3, 100000.
From this, it will be seen where we
derive our immense internal revenue,
which is said to be the largest in
ternal revenue ever taken by volun-
tary taxation from modern people
III single year. Incomes, stamps
and licenses, liquors and tobacco, are
the great resources.
The experience OF Europe has al
ready confirmed the wisdom of Nc
Culloch's recommendations that the
taxes should be few, simple, and laid
on luxuries.
We regret that the Commissioner
has not called the attention of Con
gress to the petty and vexatious
taxes which now SO annoy and haraas
the people. This taxing of spoons
and pianos and watches, and all the
Ill III