The day book. [volume] (Norfolk, Va.) 1857-1867, 1866-02-02
REVENUE REPORT ON TAXES.


The official report of the United States Re-
venue Commission was laid before Congress
on Tuesday, in a pamphlet of seventy-six
pages. 1t is preliminary report, but high
y important.
A leading feature in the report is the tax
ing few instead of many commodities, with
great confidence in the economy and utility
of the Stamp Act
1t is stated in the Introductory parts of the
report, as evidence of the difficulties in tho
way of the work on hand
Many branches of trade and industry have
been curtailed since 1864, from thirty to sew
enty-fve per centum, and some few have been
entirely destroyed Every advance made in
the tariff and the excise, has, moreover, been
anticipated to such an extent by every class
of importers, dealers, manufacturers, and
spectators, that it cannot be said as yet that
the Government has fully tested the capacity
Of any one of what may be considered.
The commission estimate that on the LIST of
July, 1864, the date when the advance in the
tax on distilled spirits, of from sixty ents to
one dollar and fifty cents per gallon, took eff
feet, there were mads and stored in anticpa-
ton Of this advance, at least forty millions of
gallons, or quantity sufficient to supply the
wants of the country for at least a year in ad-
vance. Since July !, 1864, the receipts of
the government from distilled spirits, have
from this cause, been inconsiderable OF
cigars, it is anticipated that from seventy to
eighty millions were manufactured and stored
in New York alone in anticipation Of the tax
The stock ofspices imported into the country
previous to the advance of the tariff were also
probably equal to nearly two years supply;
IN tba If oho, tlo
tax is only one cent per bunch, the stock ac-
cumulated in anticipation was 50 large; that
it has not even at the present date january,
1867 been entirely exhausted.
In presenting this report to Congress on
Thursday, the Secretary of the Treasury says
that, with the single exception, perhaps of
the one in regard to the time set in which the
payment of the principal of the national debt
of the committee have his hearty approval
The following is in brief the Recommendation
of the Revenue CONFERENCE.-The modifca-
tons to the effect on the LIST day of July next,
or at the commencement of the next fiscal
year;
l. An exception of all incomes below ST.
900 from tbs Income Tax. o
2. A reduction of the tax on Distilled Ii
quors from 50 to 81 per gallon.
8. A remission Of all the taxes now levied
on Wearing Apparel, and
"A repeal of the taxes now levied on Pig
Iron $40 per TOM Coal (six cents per toni
and Crude Petroleum Isl per galonl
f. repeal of all taxes now levied ON Books
Magazines and Pamphlets; leaving the pres
ert taxes on Paper, Leather, &C., untouched
5. A reduction by one-half of the duties
now levied on Home Manufactures generally.
6. A repeal of the taxes now levied on re-
pairs Of engines, cars, carriages, ships &c.
Z. A repeal Of all taxes embodied in sche-
dule A, Of the Internal Revenue Act of last
session. except those on Billiard Tables
8. A resolution of the tax now levied on
Brokers' sales Of stocks from SIS per S. 900 to
81 per $1,000.
9. An increase of the tax on raw cotton
, from 2 to cents per pound.