The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1867-09-12

retained from circulation IN the
vaults of the banks, and we kill
the goose that yields us $4,000, 900
in taxes. 8 a11lo8 ri,l.5i30
NMy conviction is that tho Nation
al Banking system works well, and
should not be tampered with, ex.
cept::to secure fairer opportunity
among the States to strengthen
the security required for circulation
and in time to make q national
center Of redemption or. clearing
house. | never was much Of a
bank man, but while such agencies
arc demanded, as they are in all
new countries when capital is
scarce, ] believe the present sys.
tenn is far better than we have ever
had, and far better than for the
United States Government to as
sumo directly the banking opera
tions Of the people. a9gl
And now, fellow. citizens, a few
words as to taxes, and / am done.
The general principle of our tax
law is to collect as much as posi-.
bic from duties on imported goods.
The reasons are that such taxes arc
most easily collected in the sea-
board cities, and mainly at the
SINGLE port of New York. They
are mainly on articles of luxury,
such as silks, broadclotbs and
wines, and arc paid by those who
are able to pay. l!Fy
s TO the extent that taxes are lev
led upon articles that may be
manufactured here, they protect
our own industry and diversity
our products, and increase our
wealth.
We levy these taxes in gold, be-
cause gold is the basis of all for
eign commerce, and we are thus
provided with, ample means to pay
the interest. of our debt.
Now, in levying other taxes we
select incomes over 81 900, and i'm
pose 5per cont. duty upon such in
comes.
This is the fairest mode oftaxes.
The difficulty is in ascertain ing
the amount of income, but as the
revenue officers become acquainted
with the business of our citizens,
this tax is more equally assessed,
and yielded us lastyea over 100000
900. In England this is the most
uniform and stable tax, and will be
here. Here we select for taxation
such articles, tho consumption of
which is not necessary such lux
urics as tobacco and whisky.
To the extent that the tax pro
vents consumption no harm is
done.
The failure to collect the whisky
tax is tho scandal and reproach of
our system. Itought to and will
when collected yield S80.OOO,O00.
These taxes on imports, incomes,
whisky and tobacco, in my judg-
ment, will now be amply sufficient
to pay the interest on our debt and
meet necessary expenditures.
Tie way, therefore, from time to
time is to throw off our system Of
internal taxes and yet preserve un.
tarnished our nationa! credit.
agree with Judge Ranney that
greater economy and care are nec-
essary in our public expenditures
The spirit of age tcnds to extrava-
gance in public and in private life.
Great works, vast improvements,
new inventions, restless activity in
all departments Of business and in.
dustry, are the order of the day.
l believe the United States can
leave all these to our people, and
con6ne the operations of the Gov
ernment TO the protection of the
lite and property and rights of its
citizens at home and abroad, and TO
the performance Of its national OBJ,
legations.
But how can this be accomplish
ed? Is it by partisans who make
promises TO ride into Office! Not
at all.
notice that almost every now
scheme for new drafts on the pub
lie Treasury are supplied by near.
ly every Democrat in Congress.
The way TO SECURE economy is
by care in clccting members Of
Congress. This is a personal and
not d political question. After re-
constructions settled, the highest
attribute, in my judgment, for a
Representative of the people, will
be his care and scrutiny in public
expenditures. | believe, from in
dieations already shown, that the
next Congress, comprised almost
entirely of Republicans, will furnish
us with examples of strict economy
in public expenditures, and wise
and prudent care of your financial
interests.
And now, cllow.citizens, lot me
say, in conclusion to the Union
soldiers and citizens of this flour.
ishing city of Canton, that having
in common with the patriotic sol
diers and citizens of tho whole
country, preserved the nation in
all its strength and glory through
a great war, it only remains for u s
to guido it back into the channel
of peace. We cannot trust its dos
tiny now to those who were false
in war. Let us plant ourselves on
Gods eternal rock Of liberty
and equal rights TO all, ant
by our free and voluntary sui
frage secure these rights to al
men, citizens of our country, from