The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-12-24

The newspapers Of the old protectionist and
high tariff school-and prominently among
them the chief radical organ of this city-are
constantly calling for moro taxation and
protection. They have but one idea on the
subject, and that is to favor certain class of
the community and its interests at the expense
Of all the rest The manufacturers, who have
been and are making colossal fortunes, are
to be favored, and agriculture and all
other industrial pursuits are to be taxed.
The great West, the impoverished South and
the populous Central States are all to be held
Is s'the hewers Of wood and drawers Of water"
for that small section Of the country called New
England. Allied with this class and their
organs are the great government contractors,
claim brokers and lobby agents, the national
banks and all those who wish to put their
hands deeply into the Treasury, clamoring for
more taxation and vast superabundant reve-
nue. Congress-, acting under this powerful
combined influence, has manifested little dispo-
sition to relieve the burdens Of TIE people.
Even the pretended efforts to do this last Sos
sion, by some modification Of the tariff and tax
laws, proved futile. The income Of the govern
ment b larger than ever. Our legislators either
did not wish to relieve the people from the
weight Of taxation, out Of regard TO the interests
of the classes we have named, or they have
been misled by those interested classes in the
work of Legislation.
But the time has come when the burdens
Of taxation should be lessened. The In
come OF the government for the last fiscal
year ending June 80 was, exclusive Of loans
and Treasury notes, five hundred and ffty-eight
millions. The following quarter, ending Sep
TENDER 30, the receipts from the ordinary
sources of revenue were over one hundred and
fifty-eight millions, which Is still further pro-
portionate increase. If the receipts should be
equal to these TO, the remaining three quarters
Of the fiscal year the income would be over
six hundred and thirty millions. Such q
revenue in time OF peace is astounding.
II is double or nearly double what 1t
ought to be. Three hundred millions q year
ought to be ample for all the current expenses
Of the government, the interest Of the debt and
a sinking fund to extinguish the debt, in
tWtust-uNt yCdIbs NILE MCOullOCu ebtlfu0ttS tue
receipts for the next fiscal year at four hun
dred and thirty-six millions. But we have
seen how wide Of the mark the Secretary has
been in all his estimates heretofore, and 1t Is
safe to say, looking at the income Of the last
quarter and the resources Of the country, that
the receipts will be nearer six hundred mil
lions than four hundred and thirty-six mil
lions. He estimates the expenditures, includ-
ing sixty-four millions for bounties, at three
hundred and fifty millions. This we consider
too high, or, at least, no such an amount
would be expended in q proper economical
administration Of the government Taking
one hundred and thirty-three millions for the
interest Of the debt from this sum there
would be loft for the current and ordinary ex-
penses OF government two hundred and
twenty-one Millions That is by far too much
II is over three times the amount expended
six years ago. We have become extravagant
and wnstefui-nay, We might say reckless
through having SO much money in the Trea-
| aury and through our minds becoming familiar
with such large figures. Three hundred mil.
lions, as we said, should be an ample revenue
for current expenses, interest on the debt and
sinking fund as we'll. Half or nearly half
the present taxes and high duties might be
taken or Yctwe see no effort being made
by either the Secretary Of the Treasury or
Congress to bring about that much needed
result
Nothing tsnds to preserve the purity Of gov
eminent 50 much as economy, aud nothing 70
corrupt II and the people more than such er-
travsgance ~ We now see There ought 10 be
retrenchmeut in every department, and the In
terest Of the debt ought 10 be reduced by
consolidating the whole into Ave per cents
i may be said that By keeping up the pres.
emit ciofmous income me Secretary would be
enabled to pay on . largo amount Of The debt
in a shevt ume Il would DO far mo 70