, 1868-06-19
s z. G g % a s.

required here, ant we may venture with
little hesitation TO say that it is far less
judiciously raised. The people have
been singularly submissive under taxa
ton, but trade is now bad, incomes are
falling off, and the distress in the large
cities has been very great. Some OF
these results were probably inevitable,
but it is not TO be doubted that the Anne
ricaus would have been wiser had they
~diSregarded for the moment the amount
of their debt, and confined their attention
to the easiest means of providing for pre-
sent expenditure.
Our American correspondence recently
informed US that the proceeds of the In
come Tax in the United States, as Just
.ascertained, had fallen off by no less an
amount than 80 per cent. from the re-
turns of the previous year, and the fact
must necessarily indicate a great decline
in the public prosperity. The tax in
America is 5 per cent, or a shilling In the
pound, on all incomes above 300. We
are not told the total sum realized by
this impost, but some of the incomes still
returned by the principal citizens of New
York for the year 1867 would probably
bear comparison with any figures In our
own statistics. Mr.. w. B. Astor is taxed
for municipal purposes on a property
valued at 3,O00,OO0L and upwards he re-
turned his income last year at about
00,000t and he actually paid altogether
during the year 1867 "a sum exceeding
SO,OOOL. in direct lakes alone. 1t is clear
that the rich pay for their riches in Anne
RIGA, but it is also clear that The accumu-
lation of property, and even of real pro-
perty, is as great in that country as In
this. Perhaps those people who were
impressed by Mr.. Bright's account of the
handful of proprietors who owned halt
Scotland will be even more surprised 10
hear that eleUen persons actually own one
tenth of all the real estate in New York
, ga very different kind Of property from
the moors aud forests of the Highlands.
One of these opultnt citizens was taxed
upon property assessed at 1900, 0O0L.,
and three others were rated on a capital
of nearly 1000, OOO. each. Some OF the
trading incomes, however much they
may have been reduced, are still magnifi-
cent in amount. Mr.. J. G. Bennett, of
the NeW York Herald, returns between
30,00OL and IS, O00k.. for the profits of the
year; Mr.. Bonner, of the New York Ledger,
little short of 5O,OOOk Mr.. r. Nj. Hoe,
the manufacturer of the printing presses
which bear his name, cleared over 30, OOOt.
in 1867, and Mr., Delmonico, the hotel
keeper, about IA, OOOL., while the Rev
Henry Ward Beecher returns an income
OF nearly s.OOOL, or about twice that of
an English Bishop. From Cincinnati The
largest return for last year is bat "a, OOOL',
from Chicago 100000. This was cleared
by Mr.. Mccormick, the maker of the reap
ing machines; but a manufactures Of
sleeping cars" for railways reported his
profits at nearly 10000 The Chicago
Tribune, too, must be a fourishing coun-
try paper, for it returns $500. to one of
its proprietors, and $1,000. to another.
These curiosities, however, of private
income are lost in the general evidence
of public impoverishment. A decline of
nearly one-,hird in the profits of trade
t%hrouphOut the country is q very serious