New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-01-09
REJOICING T1XES.

with the payment OF our vast NaIlOhaI DcuV
We saw. Hold on to our taxes and pay" ana
we confidently believe the People would, by o
LARGO majority, say the same if they could hear
hotb sides and then vote. Yet we greatly fear
that Congress may be impelled to listen to
special opportunities and reduce our taxes so
as practically to stop the payment OF the DEBT
| There ia much compacent talk of the large
receipts of the last fiscal year which dlsregards
tbe fact that the Internal taxes were reduced
ot least twenty-five per cent. at the last SEES
sion. so that the accruiDg revenues arc less by
of least One Hundred Millions per annum than
thew were n year ago. But even this is an
Inadequate view of the reduction impending
When the war closed, the country was nearly
bare of goods, and prices were very high. vi
eourse, importers and home manufacturers
usbed in TO reap the waiting harvest. Manu-
factories were run day and night; steamships
from Europe came laden with rich and costly faD-
RIGS. The daily Treasury receipts were largely
suallcd bv this pretenatural activity, and
amounted TO over Five Hundred Millions per an
num. And when, at later period, the demand
for goods fell off it was freshly stimulated by re-
auctions of prices, extensions OF credits, ana Dy
the Legitimate devices known as drumming"
You must travel in the Northwest to realize
how thickly it is covered by agents Of New
York. Chicago and other jobbng houses, all
intent on tempting purchasers by the display of
samples, by concessions in prices, and by ex-
tensions of credit. These arts cannot perlna-
nently prosper we know hoW though not Whe"
they must result; but meantime they lmpart
Fictitious stimulus to trade, manufacture ana
revenue. We estimate that there are ut least
Two Hundred Millions worth more of goods
this day in the hands of iobbers and retailers
than there were eighteen months ago, and that
it will not be found possible to distend the
balloon much further. Very properly, nnpo1a-
tons fall off, and manufacturers, instead OF
running night and day, are working short time
or stopping altogether. Hence tho Duties on
Imports will probably yield far less in 1867
than they did in 1866; and so will the five per
cent. excise on home manufactures. If the
Treasury realizes S3OO,0OO,00O from Internal
Taxes and SlOO,OOO,OOO (gold) from Import
Duties in the calendar year 1867, 1t VIII do
well And this, if We do not mistake, viii
leave less than $15O,0OO,OOO to be devoted to-
the reduction of the principal of our National
Debt-which is quite little enough.
We trust, therefore, that the Taxes will not
be reduced, save as such reduction may tend
rather TO increase than diminish income. II,
for instance, an excise of so cents per gallon on
Distilled Alcoholic Liquors will yield more rev
enue (as we do not doubt it wilD than the pres
ent tax of 50 per gallon, we trust the duty
may be reduced to 90 cents. And II the cotton-
growers will agree so to extend their cultivation
this year as TO insure IA great an aggregate IN
come from an excise of two cents per pound rs
from the three cents now exacted, we say Dl-
mnish the tax! But let us hold fast TO the
policy of paying our Debt promptly.
We are no fonder of paying taxes than other
people, but we want TO see the Union out OF
debt once more. If we hold fast to the pay
ment of at least $1OO,OOOOOO per annum, it will
soon be easy TO fund whatever shall remain of
our Debt at a rate not exceeding five Ter cent.
EVERYBODY is willing to trust those who are rap
idly getting out of debt. But let it DO settled
that we are not paying of, nor meaning TO pay,
the principal Of our Debt, and it will be hard
to float even Skies. Rely on it, paying of is
the truer economy.
We cannot, therefore, unite in asking Con-
gress to take off the five per cent now levied
on Manufactures, nor the five and ten per cent.
on Incomes the three per cent. on Advertise
ments nor, in fact, any tax whatever. We all
understand that these taxes, the Income ex-
cepted, are really paid by the great body Of
the people, and not specially by manufactur-
ers nor by Cotton growers And 1t Is very
plain that, if we repeal taxes because they are
inconvenient to those who whether directly or
Indirectly pay them, shall soon have not
only no surplus but no revenue ut all. Let us
consent to no reduction that precludes our pay
ing at least five per cent per annum OF the
principal of our Debt.
By-and-by, We shall bo wise enough so to
levy and adjust taxes that they will serve to
increase rather than diminish the aggregate Of
National and individual wealth. If, for ex-
ample a tax of 800 in rural districts were
imposed, $500 in villages of 1000 to 10000 in
habitants, $500 in cities Of less than 100000
people, and $1,000 in all more pOpulous cities,
on every store or bar where Intoxicating Liquor
is Sold there would thence be realized many mil
lions per annum without loss to any one.
There would be liquor enough sold and drunk;
the business of selling it would be quito as
gainful as now but, instead of employing and
subsisting five per cent. of our population, it
would absorb but about ono per cent, remit
ting several hundred thousands from rum selling
to the more healthful and useful labors of the
farm, the workshop, and the factory. And the
principle here indicated is capable of varied
and benefcent application. But we must not
expect nations to cut all their wisdOm-tcet in
infancy and at once.
We trust Congress will revise and stiffen the
Tariff, so as to secure to our manufacturers and
artisans larger share of our own markets, and
that many who now await orders or mediate
stopping will thus be enabled and encouraged to
60 ahead. If we could only go at once to Specie