Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-01-23
British and Anne rican Taxation.

brlalSn ana Ame FICHh AANHtlOH'
In considering our system of taxation
it is instructive to compare it with that of
the most heavily taxed country in the
world-Great Britain; and in doing this
we shall follow the example of English
statisticans and reckon five dollars to the
pound, for the reason that our burden and
loss from an inflated currency are fully
equal TO the difference between the appar-
ent and real value of the dollar and thus
a tax of three hundred millions of curren-
cy is quite as heavy aburden to us rs the
same sum in gold to Great Brltain-oi -..
The total revenue of the United States
in 1866 from all sources, excepting loans,
was $558,030,000. That of Great Britain
for the same period was $339,060 900. Our
income for the next year, rs estimated by
Mr.. Wells, will be $455, 600 900, or more
than $l15,000,000 beyond that of the richest
nation. A''.H-. 'a. q .a'..
Our revenue derived from external tariff
duties in 1866 was $l79045,000; that OF
Great Britain. from the same source, was
Sl06, 100000. Our estimated income from
these duties the next year. is, on Mr.. Wells
reduced estimate, $l00,000000, or more than
$43,000;000 in advance of Great Britain,
From internal taxes we derived last year an
income of $3l0906. .0S4; that Of Great Brit
ain was $l95,440O00; while our estimate
for next year is $275,0O0000, or some $780,
100000 more than arises from the immense
taxation Of England.
he Again, our income tax last year yielded
$60S9kl35, while, a similar British tax
yould. yield, according TO good authorities,
some $S0,000000, h.-.... .-
ia, The average taxation of the United States
is reckoned by Mr.. Wells as equiValentn to
$l6.04i currency, or 81 LAG gold per capita,
supposing our population TO be $4,000, 900,
and assuming the value of the real and per-
sonal property of the United States to have
increased since 1860 in proportion suffi-
cient to compensate for all the losses and
depreciation from the war, the ratio of tax
alton to property would be the last year
1893 per cent. During the same year the
same estimated ratio in Great Britain was
0.9 per cent. making our proportion of tax
alton some three times as heavy burden on
property as in Great Britain, so that the
British taxes last year, If laid at the same
4 ratio as ours, would have been over one
thousand millions Fofl dollars, instead Of
some three hundred aud odd millions,
Again, the sources Of taxation in the two
countries are strikihgly different. Thus in
Great Britain, in 1860, 27.6 per cent of the
whole income was derived from taxes on
I ilquVIs anu JVutC'O--T1ic llusb JuSJllldDle VI
all objects of taXation-while with us the
proportion from this source was only SO
per cent? ssW co.'s l0s9q uGu,N asr0u Z
A When we come, however, to our respect
i've taxation for military and naval pur-
poses, and its remarkable reduction, the exL
hibit is more encouraging to an American.
Thus lhavereduced our military ex-
rpenditure from over a thousand millions OF
dollars in 1864-5 to an estimated eXpendi-
ture this year of some $72 100000, which il
not far fromthe present British rate ofoout-
lay tor this one branch of the services
ljwhile our navy has come down from some
$122000,000 to an estimated cost of some
$31,000,000, which Is almost half the average
icost Of the British navy.iel hnf Airamin
Do This portion Of our taxation Is certainly
pniore reassuring; but deom' onlgithis bflel
aud hasty comparison of the two amounts