The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-01-12
THE REPORT OF THE REVENUE CONE
MISSIONER

Outside of the settlement of the affairs OF the
South, there is no measure which so urgently
demands the consideration Of the Government
at Washington as the adjustment, on q fair and
equitable basis, of the system of taxation which
is to be enforced for the payment Of the ma
tional debt and the support of the governmental
establishment AS the passions arising from
the war subside, the tariff anu internal revenue
systems will exact more earnest thought, and
require higher craftsmanship than the pre-
sent Congress appears to possess,-which will
be only noted in the future for it's promotion
Of sectional strife and partizan bitterness.
Under any system of revenue, the payment of
the interests, and u provision for the gradual
extinction of debt Of S2,500, 100000 will.
seriously embarrass many branches OF national
industry but when marked, as are some tea-
lures of the present system, by great inequality
and unfarness, it will be a wonder if many
pursuits do not decline and die under its
whitening operation. The people Of the North
are already giving their attention to the
diminished prosperity which at present attend
the pursuit Of great branches of trade which
were formerly very successful and growing, but
which have since, and during the war, ceased
to be the wealth-creating machines which they
were previously. The Commissioner of the
revenue, Mr.. WELLS, has lately made report
on the financial system OF the Government,
which is attracting considerable attention, and
its views and opinions are being noticed at
length in many of the public journals. lie
states that, while the cost of subsistence has
advanced ninety per cent, the wages of labor
have only increased sixty. This fact exhibits
most strikingly the impoyershing effect which
a heavy system of taxation has in diminishing
the limited means of the laboring classes
Massachusetts, has sutfered-the decrease in
the number OF hands employed in many
branches of the cotton manufacture in that
State having reached thirty-one per cent, and
in the consumption Of raw cotton tifty-six per
cent. One Of the most striking features of the
decline has been in the shipping interest,
which, before the war, was the pride and boast
Of the country-the registered tonnage engag
cd in the foreign trade having in five years,
fallen off over fifty per cent, and formerly cx-
ceeded that of Great Britain, but is now thirty
three per cent. less. In November last there
was hut single vessel in course of construc-
tion at the ship-yards of New York, and only
one or two ut Boston, and the report says that,
in the opinion Of experienced New York ship
owners, "that no voyage with an American
vessel can be planned at the present time from
the United States to any foreign port with
reasonable expectation of profit. /" In many
branches Of manufacture" the report statesl
s'the internal rates Of taxation, superaddcd to
the high prices paid for raw materials and for
labor, sweep nearly all the profits into the
Golfers of the Government
The New York Times. in noticing the report,
says:
Tho condition of our currency is dwet upon by
Mr. Wells MS ono of the most prolific sources Of
the evils from which We suffer. Gold and silver
are properly measure Of value, because they are
the product Of labor, and, ns such, the supply Of
them ls regulated by natural laws. But the supply
OF our !ogal-tender paper none has depended ex-
cluslveiy on the wants of tho Government and the