Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1866-05-18
Congrrsstr ~
RBDUCriU' -.
ne ~" D, or NON. , :. MORRILL,.

abs,,vssi / a. Ss aha Mesns HOuRht Il advisable
IN ihs Course oithe revision section Of he old
%n smtpaed even though but slightly to strike out
vac ou seer n and renssrt 1t amended This vasu,
$500 .e tise 81 the bill but will be much more con
yenent TOT those who to interpret or administer Tho
tN hereafter In revising our internal revenue laws
the question that meets US At the threshold H. how
tesenue lave We 20 spare Or how much will our ne.
tessines require for another yeaf The last question
has been specially answered by the Secretary Of the
Treasury, who has fixed in Afecent communication
the committee, $3.50 900 OQO-prnvided the AppfOpnA.
tons Of Congress do not exceed the estmatesss the
II would be sale t0tey upon, including The
rom the tariff as well ~ internal taxes In making an
tsmste Of the probable receipts frssn the latter
have b,ss full year and three-fourths Of lhe
present year Of experience, ana the data sufficiently
complete 70 be Of value Our receipts for lS6465
in round nsmbers $40 600 600 and the t,turns thus
far Of 1906 show At may expect for the year
increase ofneatlJ fifty per cent, or not e. than from
three hundred 70 three hundred and hve millions One
Of the largest aud best paying Of the products
OF the country during the war vas the Goversmen but
10 so no longer War pricea no longer rule and il ia
inevitable that manufactures must be still further
duced IN values until reach the solid standard Of gold
A. recognized by the oommsroial world. The tax on
manufactures hsseofe be far less productive Tor
The year ending June 49, 1867, than heretofore as will
be computed less percentage, II our bill should be
adopted, and far less aggregate amount Then, as
general rule in Of falling prices, Il IL not gains
but losses which must be calculated the end Of the
year and thaeiofe the tax incomes, the dividends
from banks and other corporations for the next wear
be pected 10 yield nythng like he de
rived from these sources for the years ending December,
1904 and December, 1865. sor foreign imp
tAhOnH be MAINTAINED upon their scale. IL
very desirable that they should not be they sup
planning a large share Of the labor Of our own people
aud because payment will a, present be made cAisAy in
United States bonds. Financial disaster, well in
creased depression to our industrial Interests cannot fail
TO follow such an influx Of foreign goods have wit
messed the PRESENT season. That trade must in some
degree be postponed until from the exhaus-
ton caused by the war, until capital and labor ad-
just itself to It's conditions opesse until have
something t. exchange for British French and German
s re- sD' AND A'O'''''A''' besides merely cur nation
Il is right however to look for some increase ofrsy
IN consequence OF the close Of the and may
expect something from the States lately in rebellion
though not amount In proportion ~ all 10 their fela
tive numbers Nevs fruitful in taxable resources they
have Ices than II we obtain outside Of the re
ceips from enough osver the bills already pass
ed in the other House for expenses their
account Il will equal my expectations Taking all these
things into consideration well Others not Necessary
to mention the Committee Of Ways and Means have felt
willing report the Till stands which will reduce
taxation the present year in round numbeTs abb
eny i've million dollars
Ii is also prudent 10 anticipate large dimnution Of
the from customs il ought be expected
to long unu. at double the amount obtained in
the most osperous times Our receipts from mscel.
laneous resources tho coming year will be very light
they have recently accrued mainly from properly dis
posed Of at the close Of The war, and premiums sales
Of gold. sources already nearly extinct
We seek to make some compensation for these losses
by increasing the tax cotton three cents or BY
raising It ftom two TO five per pound Surprising
thai million bales should be raised this eaton and be
ts1ed-and / ihuk The amount will be COZ siderAblv
and the shAtgtd system q labot-we ought obtain !
OVER he ~ A. nIs,'nt IN gres of va 40 aoo ~
crop may 40 far exceed The humber OF tales mentioned
all The cotton which will escape ta1ation or
which will be used on pantausns, and AL that will be
exported IN The shape Of manufactures and upon which
drawbaS will be allowed but II will be safer to esti-
mAte ttouhoe Ite'lpis on s"er pass AZ human ca.
he tu'lecl 70 eohuhsehoes, ana financial cal
euAons se Pelheps ost eAposeu 70 DC ehlp"rscked OF
all but II we Tetdn the tax cotton proposed we
can sa~y release, ID my OPINION ia1es TO the extent
" He w. oNn'I"ite We mutl ienttatt
Nm ou. .. ,ne iol OF 'tkanon ~
the oil, OF hnd some new source OF revenue which vii
pr uuce ~ .qda, amount anu tsy ms "hout ieetine
very confident that the rates for the income will BE-
aho"ed % De ehAhgeo muoh nom the existing law.
Trtaiuyp rseePts for Assi scar fHdtrs June 80 1850.
ffus,uin1si .v.u. S-4's!s ~
Miscsiapeous, @ ss'tes 10 ~
Total receipts, exclusive ofloans, St2q,s61 IA
s,,u.,,s r,,,,n, , s,,.i -. 40 ,.
r1.om p,e,ipts B Anil I aea fcairg sos a. ~ ~
Internal Aprl |, 1868, tactuaJ, s4Ssso bis
Miscellaneous tAciuall premium on gold, &C., 37lsa9os
-, -, -
IN yseein,s XII, ~ ~, r5 m
Estimated internal revenue, April June so, e000n6
Estimated miscellaneous April l 70 June 80, ISo0u
To,ai aysres.te r,e.ipts from all so,,c., "a,
the hscal year ending June 80, lss6 ssoibai asa
Eimats " rteePHJ'r @tt'eatt scar s"dns JHHs 80 is1
fGntrSnsi revenpa 90 ~ ~ ~ ~
inersase on cotton, iSGs6SS
Increase on spirits, 100000
Miscellaneous 10000 O
Require the Secretary the Treasury 100000
ANailApie LOT ieuuouoh VI ~AAuon' SloUoAVO
I, iii, 10 s.,r IN =, .s,;v,.,. ..d,,o,,or 4; a. -
W." o., in' @ eo, , ~ I sns ~
- ~ -. a1 49,, $3.50, a. VI u'p's ~.
rsdur,ior unon incomes and di,;denss ~ ,s,hs, 49,
bsu ~, p"ar,t I, - ,s,. 49, bauhs ~ nv,
80 . 49, 80, sa,.,,,s,,s'," y, ~ ~ ey "
-. ~, ssyin tb,t ,bs orss, 80; i GU =
-, AM, ~, a ~ - M a.. ~ IL. \. i
s.asa 81 ,a,f,,,s o. ,bis scco,,,, IN - :, ~, W -.
ksIsro.i ~ -, K,,ia &C., 5s,.,h',S. ri ~ ,
H.. a.,,a".,a 49, ~ ~ " " ~ I w @'e"'"'e
." ~ r",'ia No, 70 mn ,o,,,d i.,, A.. ,,,,, A,, No..
,o,nn ,n5 Ger, N, yce ~ cii.c,io' -
-. - - -, f.,... - a., - -. ~ a. s.-
A I, - =, ~ a., -, l. - - "A - -, ~ piV
~. /, 10 49,. = sn ~ =, 80 y; P'.ii ,i u
n. ',smoysd f,nr, nns col,ec,,cr asst, y, ~
nnon oiviae bo,ds n, ,bs nsymsrt 81 ~ -. I'm,
lion M du,i, riii r,.r,;csi,x ~ "a IA S 10
n0,rb.se, In sJd;,ino 70 ,h;s Iii PJ J ~ ,'
E,;rsi ri,sa,i 49,, saair., ~ d W sua ~, ~
reason fron, .ny ors,,a, yt o., 4, oa.s - - @
ho,,id no, ~ \ ;ns, h, 80 A W ~, 70 Aah ~
on mNnufac,n,,d crtfna of III IN. 49, .,a I'D IL
sny form will ,sdonnd most 10 th hsnaeS ~ Pp.h :,
spa ursIern ststss They viii az oncs ma,"tae,'rs
cos,.e ro,,ons .rd ,,,n. s1d ya,ns ,a,oh 49,. go
.i~el. S.n 'hss ~, h,ha1,o %onp uoa t no's zen
naon}a III he x I,st 80 ~, -, a. , w o 10y
- ff.,~r - -. 1, - -, ~ nv - 80 W. VI
Ti,,ii re- ,,,nS,cion 81 .n,,n I'll ~ 80 ~ y,
A. IL 10 49,, tvsn,, y" 70, ~ W -
~ Wy P o i1 XXI! $50 H. pounu, VI ehce ~
h. ha Xm.,,rnns Should ,hs IA, ~, &c NJ; say ,.,'
la.i, ~ ~ ;n,..s AZ ~ ~ ~ ~, as'v =, 're'"..
'.Is' w. w. -, "a 10 nv, Nuns II can ~
Nm -. -, ,;,a ST. VI 4, IN 800 80 eape.''lo.
Of The United states save sha, we consume. could NJ
exported in manufactured STATE or even in partially