The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-04-16

ing order 10 enable us 20 make such Estimates
with as much accuracy as it can be done in 0rdi-
nary tunes IN the financial operations of any
nation.
And as the Taxpayers are continually making
these estimates-oT rather, as Secretary McCul-
loch takes the trouble to DO il monthly for their
ghtenment-the public are constantly kept
informed Of the tact that the receipts of the
Government IRON taxation very greatly exceed
the actual necessities OF the Government, and
that 1t il intended to apply the surplus thus
raised TO reduce the volume of the national debt.
In his late speech on the Loan bill, Senator Sner-
man used these words:-f. ..l... .rH.fd. .r no
"DUlng the next year the estimated expenditures
OF the government are stated at S2S0OO0 600 these
estimates have been reduced somewhat by the bills
sent 10 us BY the House of Representatives. and II
scarcely possible that The expenditures dunng the
next ear can reach S275COO 0OO on the present basis
We have current revenue now OF nearly $500 600 900
during tins wear The amount of the VoId receipts
during the first three quarters of the year was $40
600 OCO and for this quarter Will not fall below
'Ss0WO0O0 It is supposed that the internal revenue
yeiS 20 dunps me current ny wear hot less than
the sale OF surplus gold, we have an income of not
less than s60O0O00l0 tn year and some authorities
place II higher. Thus II Is evident that we have
S200 000 OF more income this year than will have
expenditures neztYear" .t ".rI
o There have thus been extracted from the
country by the Government, during a single
year, two hundred million dollars more than the
Government required to pay its way. This, too,
during year IN which the arrangement of in
dustry and business and of the currency has
mao the most UanaElnS eUeCJ upon DuSlDeSS
men and laboring men, and all men and all in
terests. Is 1t iudicious, under these circum-
stances, to continue our present enormous rates
OF taxation? To take philosophical view of
the matter, as regards the past, we may say we
think il well that such revenues have been
raised and such taxation patiently borne, for
one year. IL has shown what we can DO and
bear. 1t has made us perfect through suffering.
IL has estab ished public confidence IN the Gov
ernment credit, and given mankind faith IN our
national honor.
has doubtless done vast and incalculabie
damage to our material interests; but the moral
aspects in this case have papably overridden all
temporary material considerations. Is II wise,
however, to continue to tax the people and
iniure industry merely for the purpose of
attempting at this time to pay off the huge
debt contracted during the war? We have no
thought of permitting this debt TO become q
permanent thing in our governmental economy.
We have no idea Of permitting the tact tnat it
must be paid to be lost sight or. We have no
notion Of ceasing entirely in the labor of
reducing il. But would it not be well, after
what we have borne and accomplished in the
late eXhausting military struggle, TO ask of the
country a little less than 20 plunge at
once with IFS entire energies into an equally eX-
hausting and altogether needless financial strug-
gle 2 Would 1t not be well TO give the people
and the public interests pellod of rest, or at
least to tighten somewhat their burdens, when
it is evidently feasible to do so It will take but
limited time Tor the country to regain It's
former prosperity, and for our Industrial iu-
terests TO reach a point of development Tar
hey ond anything in our past experience. And
the measure OF taxation that is now affecting to
endure will then seem but as a feather on the
back OF this broad shouldered people.