New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-06-05

Chase and bIcC;ullOoli, with which we do not
sympathize. That the Union was not destroyed
by the Shareholders Rebellion we hold to he
due in greater measure to the financial ability
and fertility of resource evinced by Salmon L.
Chase. than to any other human agency or in
1uence whatever. And, while Mr.. McCullOch
does not seem to us to act so well as he talks,
we cannot say by whom he could he sup
nlonted in the Treasury without serious dam
age or peril to the National well-bcing. There
NAV bc one or more who might do more good
in his position; but we know. no one who
would be likely to do less harm.
Mr.. Gibbons, in our view, exaggerates the
evils and hardships of Taxation. Doubtless
care should be taken not to press too heavily
ON the springs of Productive Industry; but we
believe many taxes, though inconvenicnt to
individuals, are absolutely conducive to
the public veal We count among these
the imposts on Liquor and Tobacco II
every importing and jobbing house in this
City were required to pay $1,000 annual
license, and every retailer i'll cities S5OO'
and in the rural districts 800, we be-
lieve the effect would be salutary. There
would be far fewer useless traders ana
more producers of wealth than now. SO q
license of $500 exacted Of all practicing law
yers would operate as a public benefit Good
lawyers would have it made up to them i'll i'll
creased business; while legions of sharks and
swndlers who now figure as lawyers would bc
driven to honest industry, or compelled to do
their stealing in such manful fashion as to
bring them speedily to career OF usefulness
in some State.PrisOn. And these are but casual
illustrations of the general law that taxation
has q good side, and can be rendered decidedly
benefcent.
We believe in taxing so as to pay the Debt
in ten years. To do this the National revenue
should be about S50O.OOO,OO0 per annum, or the
same as in 1866. Had it been kept there, we
might have celebrated our countrys centenary
on the 4th of July, 1876, completely out OF
debt And we hold that this might have been
done, by taxing with steady purpose 10 d.
miniSh The number Of idlerS or UseleSSly
employed persons, and increase the pro-
portion Of productive workerS, without
prejudice to the National growth or prosperity.
Here, for example, are a good many thousands
of our people who have incomes of $4,000 up
to $1,0O0,000 per annum. Suppose these were
to pay ten per cent. income tax: what of II |!
IDcy VIII i've less builpluouSIg WI bo'iu icHo
bountcOusy for a few years-that is all.
They will still enjoy every comfort, and
will be growing richer if they choose.
Might they not rather submit to this than to
60 on paying interest on the National Debt for
everl And so of the Laborng and the Middling
ClaSses-for we do not propose to make the rich
pay all We say it is best for all that all take
hold. bend our shoulders to the burden, and
promptly pay off the Debt
Mr.. Gibbons says N0-better be over hun
dred years paying it--which is saying in effect,
"Let us never pay it," Fori we give our
selves century TO pay in, there will inter
vene new wars and tumults-we shall have
more Stewards buying all manner of worthless
Walrussias and calling for more money to
light their coasts improve their harbors and
fortify their Northumberland so we shall
90 the bad, old way of Europe. On Mr.. Glib
bonss plan, about three times rs much must
he taxed out of the People to pay principal
and interest of the Debt rs by or plan-and
all has to be paid at last. We beg Rave
therefore, to dissent radically from moa of
| Mr.. GibbOns's theories and recommendations
as wrOng-hcadcd and mischievous; yet we
| trust his book will be widely read.