The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-11-08
RATE or suBsoFRE5TpEpIFlo,Nliis'-
RATEs. .oF. ApVRRrIsINaI
FNANCIAL aLArTERs.

5T1,ss .:.1 FINANCIAL MArTERs. 2iity
Proposed Reduction horTaxatt6n...The
Enormous Revenues! Collected last
Year-..SIx Hundred and Fifty HIil.
lions EHPeeted This Year .-The
l. whole NecesHittes5ofl the Govern.
mentOnIyiThree Hundred Millions
imperative necessity for RelIeV!
Ing the People. - sai!qIl-rai 49, e
We take the following interesting
article from that able paper, the New
York comweretat and E5InaneiGI cltro4.i-
Gle: - sgii9 q .5i'sstiF z
1t is stated, with how much truth we
do not know, that the Revenue Conn
missioners appointed by the Secretary
of the Treasury will recommend to the
next session Of Congress further re-
ductions incur internal tax list, and a
correspo ding decrease in our tariff du.
ties. These reports are received in
business circles with evident gratiflca-
tion, showing how imp oftant the meas
ure is regarded" All Glasses appear to
be anxious that, Congress should take
up the subject without delay, and act
upon 1t in a,manner calculated to- meet
the necessities of the country.
/. 1t is evident that legitimate business
ia
many departments of industry falling.
to be.remuneratives There are several,
causes for this; chief among them.
however, is, we believe, the burden OF
taxation which we are; now 1aborinu
under, resulting as it does in high
prices and restricted consumption. 1t
is customary to fmpute the present in-
crease in the COST OF living to AMI infla-
ted currency. We would bylno means
underestimate the influence of this
agency to derange values but, at the
same time, while we are intent on cur.
ing this evil, we should remember that
even a resumption of specie payments
would not bring rates back to the estand-
ard of 1860.
Theimpolicy ofunnecessary taxation
is apparent in many ways. All know
that high prices are a positive evil.
They compel the consumers TO limit
their supplies and this, of course, re-
acts adversely on production. With
less production, there is necessarily less
wealth; and, with that, less ability to
pay taxes. A Government that sue
ceeds in teaching its people to dispense
with articles not of absolute necessity
has weakened private energy and de-
prived itself of the ability TO resist op-
preston. IT, has only created the In
dams standard of wealth; "while
white men have labored and made
A1duy ghd1
nient, we, Indians, have learned not to
want them" A statesman of a civil
lied country would hardly wish to-
bring about such state of things and.
yet this is what our heavy burden of
taxation must necessarily produce.
We are perfectly conscious that the
of the wars,and the debt
thatswar has left have been the, occasion
and necessity for anenormous revenue.
The two and half to three thousand.
millions of dollars which we owe must
be provided for principal and interest.
No good citizen is willing to impair the
public credit. But 1t is not necessary
for this purpose to pay. the, debt at a
periodtso brief as to Qverstrain the ca
pacity of our people. We have expend-
ed our energy and treasure to carry on
the war, and it is not wise to, hasten the
of the debt, before we shall
have had opportunity to recuperate.-
Yet, it appears to us, that this is pre-
cisely what our present revenue system
is doing. For the fiscal year ending on
the Both of June last, the receipts into
the Federal Treasury amounted to
more than $556, ,OO0, ,000,T as follpws: GUS
toms, LIS, ,0l6, $50 64;;' sale OF lands. SECS,
OBJ 03; direct tax, 81, ,9T4, ,754 IL; internal
revenue, $500, ,226 6,5l2 81; miscellaneous
puted that they will, at The present
rates, amount for the current fiscal
yearlto about S650, ,OOO, 600. Such an ex-
traordinRry sum drawn from the pro-
ductive industry of the country close
upon its exhaustion. from: war, must, if
persisted in for long period, seriously
check II not arrest its prosperity. Ger
tainly it ought not to be done unless the
necessity for itishalI be imperatiYe!I q
This, we are happy TO say, is not the
case. The civil and foreign service of
the country requires ohlyian expendi-'
ture of aboutf forty millions of dollars.
The War Department will require an
equal amount, and the Navy, perhaps as
much more. The 5pensioh and other
charges will be about twenty millions
in round numbers. The interest on the
public debt will not exceed one hum
tlred and FORTY millions. making two
all. If, then, to this, we add sinking
fnnd OF oniy,S S20, ,OO0. 600 ANNUALLY. we
wo1fd .ihaV vi SD hffi6ienE t6i nay, ali the
vharlv ar1es Uafnstt the Gfovefnment.
and be abe 10 liouidate the whole
amount of the. debt In the lifetime Of a
peneration, -,
It Il lpracEicabIe. therefore. for Con-
eress TO reduce the aggregate of our
taxes to three-f fifths If not one-half, their
publics credit and meet Shonorablv ali
Whatever amount is
raiSed morethan,Eis necessary for these
I1nrnoses, is extortionate. and must bear
1pon the eltaxpayer with undue seSerity!a
Tnstead of bIIildinR mn the industries Of
the conntry. &c yrests from the producer
th9 yefy5 meaiis tof, subsisting himself
and paying any tax Whatever. The
aUricnltnraIist disposinp of his land to
his debts, instead of oceupy-
ing 1t and providing for them with the.
"a :.