Daily Richmond Whig. [volume] (Richmond, Va.) 1865-1869, 1866-02-06
$35O4O7,2l2

Naafat
FoS'Shee. rs a. Ss9
sunday revenues. t5t' ~,
Produce Of miscellaneous taXes....-...- ll'''o'DOo
Total ........... $3.50 4O7, PIP
1T WILDE seen By the foregoing analysis that d.
rect taxes registration stamps, customs uu''eS' SUI
gar beverages aud tobacco, yielded more lhau stE-
eDt,si,r NJ cent Of tie whole revenue, in the FOL
I I,v-ip, ,,rop0rt0tls. Direct taxes, eighteen per
cent registration and stamps t"ehty-three per
I cent customs duties lnclndlhg sugar Tour anu
Y half u.r cent sugar, SLY per cent, beverages,
t,rsvt 1s.r cent and tobacco, thirteen per cent. -
I'M. lrtct In the French budget for 1854 Is reported
comparing the French with the English revenue
/ .r.t.u, we observe the same exemption from taxa
ION OF home industry, especially OF those manuiac-
lures which find market in foreign countries
Land is subjected 10 heavier burdens in France than
I in England, and the freedom OF occupation and ac-
ton is restrained by heavier eXactlOns ia the way oil
/ licenses stamps aud registrations. The revenue de-
rived from foreign imports II thrilling IN COMPARISON
with the customs revenue at Great Britain. ne
lVetteS and indulgences Of the people are reached
alike in both countries, by heavy taxes on sugar
beverages and tobacco, ami ia both the pOstOhce Is
made 10 contribute 4 large revenue
/ The commissioners think that scryile lmita-
ton OF foreign systems should be avoided, but
! that valuable features should be awaited Of
/ wherever found when adapted to the re
sources of the country and the fiscal aptituGeS
and capacity of our people. The report sets
forth the anomalous condition of our revenue
aud tariff laws, which were adopted chiefly to
meet the financial wants of the hour, and are
therefore without plan or system, and, in many
cases, press iniuriously on existing interests.
1t recommends the abolition or speedy reduc-
II IA. Il 4 20 oh,
mrut, aud the retention OF all those which, like
the income tax, fall chiefly upon realized
wealth. Ii is alleged that upon many articles
the taxes are duplicated many times, thus en-
HANGING the cost to the public aud imposing
burdenS upnn manufacturers which have pa
falvzins effect and operate to the advantage OF
IN. foreign trade. IL says that in some branches
rhe discrimination is in favor of the foreign
producer tolthc extent OF from fifteen to forty
per cent, and, in some instances, nearly one
hundred per cent. We cannot spare the space
tor the details given in illustration OF this as
sumption.
To correct this and to approximate equaliza-
ton the remedy proposed is, "SNch a re0iSio"
of the present Internal reCeHUe system as lrW
8. look to an cli;re cremptiOn Of the mGjUtdetur-
i,,y Industry Of he United States rom all III
rect tdcaiioa-distilled and fermented Ii
quorS, to5acco, and possibly i few other arii-
cles excepted" As the average Of the pre-
sent tariff is understood to be upwards OF forty
per cent upon the invoiced value of those i'm
portations upon which duties are levied-the
average having been greatly increased during
the past few years by the imposition OF duties
upon tea, coffee and other articles previously
ON the free list, As well as by some additions to
other articlcS-the commission, after making
all due allowance Tor possible reduction of
some duties, and an increase Of the free list,
think it safe to estimate the amount Of revenue
dcrivahle from customs for the fiscal year 1867,
To- be at least one hundred and thirty millions
OF dollars.
We can only glance at the more pominent
recommendations the report:
The Report recommends reduction of the tax
on distilled spirit, from - to II per gallon a.
necessary revenue measure, and estimates that tins
change will Increase the revenue from S5 81, 1Ol
nm lSt5 10 a total of SiOOOO,UOO This calculation
Is baSeed upOn the annual consumption which -
-tmated AT from fOrtytwO 20 torty-hve millions OF
gallons. draft Of law upon thus subject VIII he
presented in a supplemental report No change !
J., recommended in the present tax OF 81 per barrel
on frrmeued liquors, but system OF collecting the
revenue by means Of stamps tO he fastened to the /
barrels Is suggested desirable reform. The tax
from this source yielded, in 1860, S3657, ISL while
the consumption Is estimated at fully 6OOOOOO gal
Ions showing that the Government received only |
% per cent OF its just due from this source OF reye
uty. The Commissioners estimate that SAOOO,OOO
may be derived from this tan.
The Commission recommends cotton rs fruitful !
,pdrre of revenue, the tax OF live cents per pound To
J. collected from the manufacturers at the place OF
consumption, aud from the merchants at the ports OF
EXPORT for foreign shipment This tax, at 81 per /
bale will yield So OOO,OOO Tor every million oil bales
rtSed As the cotton supply OF the present year Is |
est mated at two million bales, and may exceed that
number, a revenue of SlOOOOOOO Is estimated from !
this source, which may be increased To sou wv
or ~ 100 900 when the culture of cotton reaches ITS
former prosperity IL is likely 10 do within lew |
years But in any event, permanent revenue OF
$50 OUO, 90 may be calculated upon.
The Commission reports unanimously against the |
Z lv1tiou of tobacco upon the leaf. The revenue |
from tobacco and It's manufacturers amounted m |
I,i5 To 81 So 7gg, but the Commission thinks that
bv some amendments IN the present mode oil cOlec-
ton, the tax may yield SloOOOO.
~ modification ia the tax ON incomes IS recon-
m,nded The discrimination against incomes in cN-
..,- OF 5000 Is burden Oh successful enterprise,
and the rate should be equalized. The present cN'
cuptiOu of SGOO upon annual gains and incomes |
should Dc increased % $1,000 but without any abae-
l.ut for rents or at least should not, in any ease
exceed $500 The revenue from incomes Is eSti |
mated at so 80 w..
IN. stamp system Is recommended a the best |
means Of collecting revenue Tar Is it can be reu
l.r.I available The tax OF live dollars upon every
10 900 ut broker. sales is excessive and should he
r iuCcl tD dollar upon SlOUOO, or the 0he-hun-
dreth of per ceut Of the par value OF the stock
~ reorganization of the various estimates OF the
Commission gives the following aggregate results for
th. lis.ll wear ending June 3Oth, 1867;
Penn EN.i-p. VIZ.