The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-03


another ssafcmenf Or thc Reeei,,s ara r..
pendifares u the Governmen, Far ,.e o.
i rent Fiscal Year.
---,a apurah
~ -.--vusson exists in the public mind
sat the revenue receipts OF The national treasury Tor
The current fiscal year are likely to prove nsucienI
70 meet the current national expenditures whch
Apprehension mas recently been fostered BY the pub
hcauon OF an unomcial statement Uy d subordinate
OF the Treasury pepartmenb-an investigation OF the
whole subject has been Instituted under the direc.
ton OF Hon E. b. Washhnrne chairman OF the Com.
mittee on Appropriations, House OF Representatives
VINO r,, sntnorizes the following statement:-
Inc sources OF revenue to the Treasury are three
miscellaneous We ask attention to the facts con.
nected with each OF these in order
FlRST-cusToMs
The customs receipts &C the port OF New York from
,ne commencement OF the present fiscal year. July l.,
receipts adding onefourth for receipts ~ the other
ports (which Is less than the average OF such pors)
ana allowing for fluctuations In impOrtations would
indicate gold revenue from customs FOR the present
nscai year OF at least $4,000 00O which estimates
sne amount OF coin credited on the books OF the Trea
sury from customs receipts from all the ports for
the months OF July and August substantially verify.
Inc receipts rom customs for the last three fiscal
e6l; 1866 and 1867 sire, $40; 1887 and
isoS $ll - 500 brief review now OF the sources
ron wrence sns revenue was derived is all that is
toms receipts with the maintenance Of the existing
tarin Is exceedingly improbable. Thus the bulk or
portion OF the duties are derived are not articles OF
luxury but commodities In almost universal USE
sncn a.. as sagans YEA Gomez molasses drugs spices
and with great rapidity increasing. Thus the dis
tribution Of imported sugar for consumption in the
months OF the year 1858, ending August 81, was
3O3 100 TONS against 264O46 for the corresponding
u
consumption OF imported coffee under the same cir
cunstances was a. follows:-First eight months OF
first eight months OF 1885, 49, 400; first eight months
Of 1885, a7eos; nrst eight months Of 1884, IS, 49,
into s q 81
sa Ks the ls 81 ss
sss yielding revenue n Of Ia co.
We submit whether It Is at all probable that with
the increase OF the country In wealth and popula-
ton the aggregate OF imports, and consequently OF
revenue, is likely to be diminished below the figures
OF the last fiscal year; and, furthermore, whether,
arising from augmented crops and . deficiency Of
portations during the Immediate future win very
It Is evident, therefore, that any statements pre-
dicating reduction of customs receipts for the
raned either by the actual receipts OF the Treasury
for the first quarter Of the present fiscal year or BY
any circumstances connected with the trade and
commerce OF the country.
sECoND-INTERNAL REVENUE.
The receipts OF internal revenue from July l. 1885,
to September 20 were in excess Of $40 900 OOO ind
eating an average Of 900 per month. over
$l6o, 100000 per annum. II 1t is urged that the
revenue for the time referred to was augmented BY
the receipts from the ''income tax" and is not
likely to continue as large for the year. we reply that
the receipts from income during the time
specified were inconslderab!e for the month
OF July $5,000,000) and that any deficiency
from this source Is likely to be fully COM
pcnsated from the gain on the revenue from dis
titled sprits-he returns for the month Of July ind
eating an annual revenue from this source for the
current year OF double that received during the pre-
ceding year. 1t is also reasonably certain that when
the new law relative to the collection OF the tax
distilled spirits Is put in full operation In November
that The receipts from this win be also further
largely augmented.
Again, the only taxes removed by Congress which
In any way diminish the internal revenue OF the cur
rent year as compared with the preceding fiscal
year are those relative to cotton and ranuiac-
tured products-excusive OF spirits, beer, tobacco
patent medicines and playing cards. Allowing for
these reductions and assuming that the receipts from
other sources which have not been reduced by egis-
atOn Will continue substantially In 1861, the
minimum OF internal revenue for the current fiscal
year In detail and aggregate, will undoubtedly be
frlln