The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1866-12-08
Tho Nations Income.

The report vi the Commissioner Of Internal
Revenue is one Of the most satisfactory docu.
mcnis ever presented 10 the American people
aud presents the strongest possible proof Of the
ability Of the country TO sustain and pgy its pres
eni debt. The total amount raised from this
source Of taxation during the year. Is sale, 9OG,-
aSi.l5, an amount. the Commissioner informs
vs., within twenty-five millions OF the total rev.
enuc OF the British Empire. and far in cxccs. of
the amount raised from similar taxes in that
country. This Is an increase over the proceeds
OF the last official year OF nearly ninety millions
An analysis of this amount presents no lcss Gauss
ofreioicing. The tax on Iron aud Sltel. not
wiihsianding it, reduction. has produced Sl3.-
i2s, l33 ~. an increase al four aud n half mil.
lions over last year. Petroleum pays IS, ~ 1885,
an increase OF nearly tao and quarter millions /:
tobacco aud srgars nearly sixteen millions, nu
increase offour millions. while spirits, notN it'll
standing the evasious % the law, of which the
Commissioner complains and almost dcspairs,
nuiess scii-rcgstcsing still he invented, produce
so, los i5S.lj, increase Of over thirteen mil.
lions and the three months that have clapscd
since the close OF the fiscal year show more
than corresponding increase In the tax arising
from this article. \ yet more remarkable increase
is seen in the grow ia Of the returns from income
,aA from SEQ iG7 20 To $50 soi. 1889. and
though portion u these returns arises in each
year from the incomes OF previous wears the con.
iinuel progress OF this item from eleven TO twenty
and thence To sixty millions canuoi fail 10 be
taken mark OF continued prosperity The
Commissioner, among his recommendations a,
the conclusion OF the Report, suggests the in
crease Of the amount exempted from this iaN 10
- 600
Other SQUIRE. FROM which Ibis great sum Is de-
rived are the banks and insurance companies,
paving over nine millions the railroads. giving
nearly three and a half millions on capital and
mortgage dividends; fifteen millions from stamps,
eighteen millions from licenses over five ~ lions
from icImenled liquors, while cotton clothing,
legaeics leather, pianos. patent medicines, and a
hos, Of minor articles swell the list. The cost Of
collecting this revenue las been something over
seven millions, being less than ,wc-and onc-hali
per cent. On the total amount collected.
The Commissioner recommends hut few changes,
though some are important. The chief are the
change Of the return day for the annual lis,
Schedule e, Licenses and incomes. 10 the Le-
ginning of tac Year. a revision Of the system un.
der which cigars are taxed, and some modifica-
lions Of Lc STAMP act. Most impor,antis, Ito re.
t. ducc the number OF taxable ARTICLES.
Tue receipts iaF the coming year, the Commits.
sioner, after careful consideration OF the facts
before him, believes will reach two hundred and
eishiy-iiTe millions. II figure more likely 10 bc
under than over the truth lie saws, in conclu-
sion that the immense revenue Of the last fiscal
"year was raised it'll probably less pressure upon
" the people than that Of smaller amounts In pre-
- vIous years. Their enterprise and spir, Of nc.
"cumula'ion have prevented the depression OF
business which ordinarily attends heavy taxa.
g. ton. Their means for the ultimate extinction
- Of the national debt are rupldly multiplying
" from the increase Of population aud the con-
q slant development Of new sources Of wealth.
The reduction Of taxes will stimulate produc-
. lion, md ina few wears the national deb, will
" Cease To he "n otject Of anxiety, or even an
"noysnce, to great and united people"