, 1866-12-22
INTERNAL t1:yEtpE lfECElPTS.
L Nus1liu,rt Oh st,stfal Ina t,at ii, -sn FL.

,ere - fte receipts Of Internal ze:enae from duly
10 syv s tssa a. nsssivc
= faie Of over Sa5I11 pef sIears Witch. Il Eon. H.
@upaso. W. would a3oouus to arafy SIS, ,oSi, ,5o5 for
the customary re6iclIon OF manufactnres. &c.
anring the spring months, atIer ,hs market nas
Sesn snt tt'os1sa: 4 fsi1 estimate has been made.
IN aggregate for the fiscal sear, al x3to.01 LfatI
Atd t9 hese teures the receipts from customs
sno G o!hes soarces AND the cnti,c reyaane Of Tho
enosMons sam OF $Jt.5, ,Oo1 1,tAG, tue wants OF thn
Gorefnmett be1ce but $aA.Uo0.Uoj.''
And yet, in the face Of these cxtraordtaary
receipts, tho Secretary Of the Treasury com.
rlains bitterly OF our currency system which
yields them, md demands that It be broken
down and the country speedily return to the
specie basis.
Suppose that all the grcenbacka were
withdrawn from circulation, amounting 10
lire hundred and sixty millions, Including
compounds, and funded into Fige-Tweuty
bouds. md the National Banks were Obliged
to redeem In coin, how much would be the
receipts from internal revenue? Is there apy
mao Wild enough to say they would be one
@ ~HAf thAT --0sS -~as T1,a Sa..-4t..r's
.cro.ehet Of specie redemption and cur,eucy
contraction Is d scheme which, II curried
into practice, will wipe ont oue.half OF the
&evcnuc Of the Government, cause wide.
spread financial disaster, AND make 1t ins,os-
sibsc for Congress to repeal dollar Of taxa~
tion for many years to come.
By continuing the present legal tender b,>
Sid OF currency, Congress can safely rcsrlpd
all tho internal taxes now lowed On woollens.
cottons raw and manufactured, linen, hemp,
silk, iron and steel In all theis forms, ps}uts.
leather, boots, shoes, HARNESS truuss, cloth.
Ing OF all kinds, millinery and msntua .ns.s-
Ing. hnta and caps, cutlery, glass, books ad.
ycrtisinr, tJpe, presses, tnk, sewing w:.-
chtncs, implements, and machfuery OF nj.
kinds, milling, mining, ship building, taxua
on passenger 1a1cs, IN gas, telegraph dos.
patches, and In short, On every branch o
! productive Industry Of the useful and heneh-
cal sort. The revenue is SO greatly In cx-
cess Of the wants Of tho Treasury That In
te1Dal taxes on domestic manufacture:
are no longer required and tho Income tax
can sn1 ought 10 be cut down one lalf IL.
exemption should he Iu1te,l from 800 tc
[ $l.0oo, aad Tie five and ten yer cent tax on
income reduced to three aud five PER cent
Ibe revenue derived from the tariff or
foreign imports, on licenses OF all kinds
stamps, bank tax, whlsksy, hecr, tobacco
cigars, snnI, matches. plate, p,a,1os
witches mud carriages, arc now yielding a,
abundance Of revenue for the support Of ,h.
Government. Why then continue thos,
other e1ciscs on production SO burdcusonc
Injurious aud unnecessary
Tlcrc will be no real or earnest effort Il
reftcnch expenses and Practice eeonom,
until tue receipts are reduced to something
like the absolute wants of the Government
Az oScEAoW}ng Treasury tempts to all sort.
Of c1tfasagAlcc. waste and pecu1atton or
the rart OF otllcfa1s. The People arc no,
auxious to he taxed to death to pay Off lht
Debt; they prefer to rest while and rcru
pirate their energies aal strengthen the;
resources. The best md most popula,
thing Congress can d. is, TO rclucr taxation
totlrce hundred millions, and then Institute .
searching scrutiny into all kinds Of e1pendt
lures. with view to retsenchneut md re
| form.