Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-02-06

The extent 10 which one branch Of the
money supply has fallen Of has assumed
proportions that ara really alarming, aud
hat demand immediate action looking
n 4 remedy We refer 10 internal reye'
nue. Ffom this single source Secretary
NcCulloch estimated ihsi Nc would re
ceige two hundred and nine millions for
the current fiscal year, ending the 3Olh
VI Bext June; ADD Commissioner kol-
Inns officially declared bis belief that We
would reoof 3 two hundred aud twenty
i've millions The total inlaDd revenue
receipts from tbe frat Of July last up 70
he 27ih instant, inclusive. amount 10
The mearer eum Of one bnDdrod and
thirteen millions Now, II we were
justified 10 expecting the same ratio Of
receipt lor the balance Of the year that
We had for the last portion OF Il there
would be no cause for lneaslness but We
are not The seven mouths elapsed
comprise some Of the heaviest ones for
revenue Ia The year, and the five yet 10
come are not likely 70 exhibit the i'm
proyement essential 70 raise the aggre-
gate 10 even the lowest estimate made.
The entire receipts for whole week lihe
last oDe) amounted 70 bnt a single mil
lion one hundred and seventy light thou
sand dollars, which is In the ratio OF sixty
one millions per anpum. When rocelpis,a
long time since, fell TO a per diem average
OF half a million il was considered
very small and when they still further
descended 10 an average Of three
hundred and fifty thousand il was a
serious thing. But the Treasury officials
have had 10 reconcile themselves 10 even
still lower figures than these; and re-
Gently pallry two hundred aud six
Thousand dollars were footed up in the
Office of internal revenue as the sum OF
the day operations--the lowest amount
received from this source since the sys-
tenn has been established. We remsm-
Der when million day was thought
moderate; very many days two and even
three millions have been received, and
two days over four millions aud these
are tht totals that would come in now If
the Government were not robbed.
There are, commencing from the date
10 which we have given the total received,
one hundred and iifty-four days yet in
the year. Att daily average of three
hundred thousand dollars for tina. period
we shall fall fifty millions below the
Secretary's estimate, and sixty-six mil
lions below the Commissioners At an
average even OF half a million daily, we
shall be nineteen millions behind Mr..
McCulloch's figures, aud thirty five mil
lions behind Mr. Rollins. Il will re-
quire over six hund cd thousand day
for us 70 meet the estimate Of
the former official, and over seven
hundred thousand 70 meet that Of the
latter. Are we likely 70 receive either
OF these aysrages2 II is not at all prob
able that we shall, and for reasons that
we have often given. Frauds, comm
vance between the taxpayer and the
tax-gatherer against the government,
the general decentralization consequent
upon the actions Of 6 party employing
its control OF the government for the
continuance OF It's own power
these are the toads at the source
Of the fountain OF revenue, checking
and reducing its flow. Ard until
these are removed the people must ex-
peot 9 hampered financial condition.
When one of our leading revenue author
tiles Is compelled to announce, as be
has done, that out OF every dollar Of tax
collected only fifty cents finds its way
into the national Golfers, il may be be-
lieyed that the whole revenue syst 10 is
fostering With corruption, aud disinfeol- I
ants are demanded which the party 10 !
power i inc pable 70 discover or apply. !
IN y. Worls-