The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1868-06-16

1QQ COulu DC natlc W my sCiy
extent in defrauding the government on
any particular point. From number
of calculations that have made can
come to no conclusion but that we SHAH
get at least seventy millions out.of whis'
ky in the coming year Instead OF thirteen
millions, to which we are now reduced.
In reference to the income tax, it was to
be retained at five per cent. but salaries
from the government on which no allow
ance was now made for house rent, bad
debt. &c, were henceforth TO be ac
counted for as other incomes instead of
having the tax deducted on their being
paid. In reference to the tax on rail-
roads particularly horse railroads
they we're no longer to be allowed under
the revenue law to exact from their
passengers that tax or rather eight times
that tax, but would have to apply for
relief to the local or municipal govern
ment In reference to the mineral oil,
it would have to be put on footing OF
general manufactures or the present tax
OF one tenth of one per cent would have
to lie dispensed with altogether. AS to
tobacco, the committee had made
great Inany amendments in regard to
the collection of the tax. 1t had en-
deayored to make the tax rigorous GER
tain of execution, and to have the col
lection made through the medium OF
stamps While the country had been
astounded with the enormous frauds
committed in evading the tax on whis
ky, it had not been much better on to
bacco, though he confessed that whisky
was a little ahead in the race OF rascal
itv Instead of the three classes OF tax
ation-forty, thirty, and fifteen cents a
pound-the committee now recommend
G | only two classes at forty and sfxtees.
cents. The committee also provided
that smoking and chewing tobacco
should be put up in small packages and
tax paid by stamps. AS to cigars the
committee had thought Of doubling the
present tax of So per thousand bus
that perhaps, would not be insisted up
on. His own opinion was that they
ought to reduce the tariff on cigars. as
not affording the protection intended TO
the home manufactures. The tax on I'm
ported cigars now averaged $40 per
thousand, and the consequece was ohat
smuggling was carried on to aai alarm
ing extent. In reference to tire hnanciaL
condition Of the country he was one oil
those who believed that no matter no"
much they might dispute about the
changing of the public debt tH@4a one
form of public security to another she
amount of the volume of the currency
10 be kept up, dc, there was a'tef all
but one way in which ths Teot OF the
country was to be paisf. and that was oy
working it out industry, commerce.
the productions of labor and Of the soil
were eventually to pay the debt. The
committee had cndeavored through his
system Of internal taxation to keep Ills
view the cnrdinal principles that taxes
must be equalized rs tar as possible =
What, said he. is the condition of the
| country now at the close OF a Long and
expensive war? A condition which
ought to astonish, and I believe does
astonish, the world-a condition which
does astonish me, which will astonish
any one who looks carefully into the
facts and figures If anything can teach
an American to admire this great coun
try and to wonder at its enormous re-
sources it will be to go through such an
! investigation as ! have attempted. /
propose to conclude what | shall say to-
day by an exposition of figures showing
the present condition Of the country.-
hope that, if by this exposition shall
! show that we are capable Of sustaining
the country through it's burdens, and of
holding high its credit and advancing
its prosperity, the good condition of the
country will not be made the occasion
| of extravaganza in appropriation 1t Is
| not only necessary to raise revenue, but
! to be economical in the use of it. Mr.
/! Schcnck then proceeded to read his IL
| nancial statement, commenting on it as
/ he went along :-
t The receipts Of the national revenue
for the fiscal year ending June 81, 1861,
were as follows:
| RECEIPTS.
Total coin and currency S490. .526 ,s47
EXPENDITURES.
| The expenditures for the fiscal year
j ending June 80, 1867, was as follows:
ia FOR CIVIL SERVICE
Legislative, Judiciary, executive aud
/ diplomatic. .$ oi,iIu,oZ1
Pensions ACKNOWLEDGEMENTS. 20936, 55l
Indians Observation-Disclosures. 4.642, ,53l
i NAVY y......,.,.......,... 3l,034,0Il