Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-01-02
rHE NAr1oN,s 1NooMR.

Inc ngures OF the Report OF the Com-
missioner of Internal Revenue present
the strongest possible proof of the abil-
ity of the country to sustain and pay its
present debt. The total amount raised
from this source of taxation is $780,
SOC, 1884 II, an amount, the Commits
sioner informs US, within twenty-five
millions Of the total revenue Of the Brit
ish Empire, and far in the excess of tho
amount raised from similar taxes in that
country. This is an increase over the
proceeds Of the last official year of
nearly ninety millions. An analysis OF
this amount presents no less cause OF
rejoicing. The tax on Iron and Steel,
notwithstanding its reduction, has pro-
duced Sl3, 1913, 1873 SO, an increase of
four and a half millions over last year.
Petroleum pays S5,3l7, 1896, an increase
of nearly two and q quarter millions; to-
bacco and cigars nearly sixteen millions,
an increase of over four millions; while
spirits, Notwithstanding the evasions OF
the law, ofwhich the Commissioner COM
plains and almost despairs, unless a self
registering still be invented, produced
$2s, lss, 57s 10, an increase of over thir-
teen millions; and the three months that
had elapsed after the close Of the fiscal
year show q more than corresponding
increase in the taI arising from this ar
ticle. A yet more remarkable increase
is seen in the growth Of the returns OF
income tax, from $ao,567,3 $50 2s to
$50, sss, l35 IS, and though a portion
of these returns arises in each year from
the incomes of previous years, the con-
tinued progress of this item from eleven
to twenty and thence to sixty millions,
| cannot fail to be taken as a mark OF
continued prosperity. The Commits
%sioner, among his recommendations at
the conclusion of the report, suggests
| the increase Of the amount exempted
| from this tax to ST., ooO.
Other sources from which this great
| sum is derived are the Banks and In
surance Companies, paying over nine
millions; the Railroads giving nearly
three and a half millions on capital and
mortgage dividends; fifteen millions
from stamps, eighteen millions from Ii
censes, over FIVE millions from fermented
liquors, while cotton clothing, legacies,
leather, pianos, patent medicines, and a
host of minor articles swell the list.
The cost Of collecting this revenue has
been something owe seven millions, be-
ing less than two-and-one-half per cent.
on the total amount collected.
The Commissioner recommends but
few changes, though some are impor-
tant. The chief are the change Of the
return day for the annual list Schedule
G, licenses and incomes) to the begin
ming of the year, a revision Of the sys-
tenn under which cigars are taxed, some
notifications of the Stamp Act and OF
| the relations of the Office to the District
Attorneys. Most important is, ''to re-
duce the number of taxable articles"
The receipts for the fiscal year, the
Commissioner, after q careful considers
ton of the facts before him, believes
will reach two hundred and eighty-hve
millions, a figure more likely to be un-
der than over the truth. He says, in
conclusion, that "the immense revenue
of the last fiscal year was raised with
probably less pressure upon the people
than that of smaller amounts in pre-
vious years. Their enterprise and spirit
Of accumulation have prevented the de-
preston of business which ordinarily
attends heavy taxation. Their means
for the ultimate extinction of the Ma
tional debt are rapidly multiplying from
the increase of population and the con-
slant development of new sources of
wealth. The reduction Of taxes will
stimulate production, and in a few years
the National debt will cease to be an
object of anxiety, Or even annoyance,
10 a great and united neople.n