Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1868-01-17
The Revenue.
REPORT or COMMISSIONERS WELLS.

Wells, special commissioner of the Revenue,
has been submitted to Congress, and Is hay
ing wide circulation. 1t is an interesting
document for it treats of a subject which
touches the pockctnerye of every citizen, viz
the tates 1t is valuable, for it embodies the
results Of careful studyof our own and for
eign revenue systems, and the opinions of a
gentleman, whose honesty Is abundantly
youched for, and whose good sense is shown
by some sensible recommendations. Our
space viii allow Us to abstract from it only
few points of most Importance Mr.. Wells
view of our financial future is on the whole
encouraging 1t is worth something to be
reminded that 1.-THE United States is the only
one Of the leading nations Of the world which
is, at present, materially diminishing its debt
and reducing lis taxes; and the only one,
moreover, which offers any substantial eyi-
dence of its ability to pay its debt within any
definite period, or even anticipates the proba-
bility Of any such occurrence - and to be as
sured, as Mr. Welles assures us, that there is
not to-day a country in Europe in which the
paralysis of industry is not greater, the fail
ures more numerous, and the prospect of an
early return Of commercial prosperity and ac-
tivity less encouraging than in the United
States.
As to our national finances. the Commission
er heartily approves of the funding process,
begun by the Secretary Of the Treasury, and
believes it will, probably within the next ifs
cal year, open the way for a discontinuance
Of loans at so high rate of interest and al
low Of the application of the revenue for the
first time to the reduction of the amount of
bonds issued
The sum of 100000, 900 is considered the
maximum amount necessary for the ifs
cal year 1869. The customs may be relied
upon for about half of this, leaving about
| $4,000 600 to be provided for by other
means of taxation, principally Internal Rev
enue.
Mr.. Wells thinks the present tariff cannot
be improved and is, on the whole, entirely
satisfactory On the distribution and collec-
ton Of the internal assessments, however, he
makes a great variety of practical sugges-
tons, many of which Will, if adopted, iu-
yolve radical changes in the system Of taxa
| ton He rciterates the humiliating fact set
forth in his former Reports, that of the in
ternal taxes assessed by the government, not
more than fifty per cent. ever reaches the
national treasury, owing to the bad and cor
rupt machinery employed in its COLLECTION.
OF the whisky tax, which ought to yield a
hundred millions. not more than thirty mil
lions has ever been collected, and in the To-
bacco tax the loss is nearly as great. The
frauds in these two sources of revenue are
beyond all parallel.
The tax on distilled spirits he thinks has
been placed at such a rate as to induce fraud
He recommends a reduction of the tax to 50
cents gallon, making its collection obliga-
tory at the place Of manufacture, andincreas-
inc the distillers' license to $1,000: also an
increase of the dealers tax
With regard to the income tax. the Com
missioner recommends that the exemption Of
$1,000 apply only to such incomes as are not
in excess Of $500 or $1,000. The revenue
from stamps is some eight millions less than
it should be, were the law not eyadel. Mr.. |
Wells proposes to check this bya closer in
spection and by printing the stamps in fugi-
tive inks. He also recommends that the affix-
ing Of receipt stamps be made obligatory up
on the maker of the receipt, and that the
amount exempted be reduced to ten dollars.
The Commissioner is evidently not hopeful
of any considerable reform in the admins
tration OF ..ne Internal revenue system,
though ne strongly urges the passage Of the |
g Iyivil Service Bill, which makes appoint
ments to Office contingent upon honesty and |
competency, and not on political influence.
And if this bin should not become law, he |
recommends that the collection Of these taxes
be committed to officers of the regular army
and navy, believing that their education and
habits of duty would prove good guaranty
for their fidelity and honesty.
Mr. Wells takes it for granted that it
will be the policy of Congress not only 10
provide for paying the interest on the debt
but also for reducing the debt itself at the
rate of about fifty millions year. This of
itself will require an annual revenue of one
hundred and agility millions To this are to
be added the ordinary expenses of the gov
eminent, which for the current year ending
in June, 1868, will amount to two hundred
and ten millions. But these ordinary expen-
ses, Mr.. Wells thinks, may be very greatly
reduced.
In this connection he urges the paramount
duty Of practicing the most rigid economy,
and points out to Congress and the country
how millions on millions might easily be
saved every year and thus the burdens of
taxation be lightened, recommending
First-That all expenditures for the navy be
restricted to an amount merely sufficient to
the police of the seas, and preserve
the public property.
SecoRdIy-Ihat the numerical strength of the
army be not increased, but reduced, and that no
appropriations be made for ordnance or for new
Notifications.
Thirdly-That no appropriations DO made for
public works, other than Notifications, except
such as are Of the most urgent necessity.
Fourthly-That 50 long as the necessities of
the nation are paramount to those ofindiyiduals,
no claims for damage sustained in consequence
# the rebellion be either paid or considered.
Fgthly-That the heads of the various depart
nents be required by Congress to practices the
most rigid economy, and to reduce their employ
5 to the minimum number requisite actice the G
discharge Of the public service.
Sirthly-That no money be appropriated for
hs further purchase of foreign territory, and t