Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1868-10-14
THE TRUE FINANCIAL QUESTION

The responsibility for the debt we con-
sidered last week. 1t rests with the
Democratic party. Has the Republican
party shown disposition to increase or to
diminish the national expenses This is
the real financial question of the cam
palgn. The Republicans were compelled
to make a debt to- save the government.
The country of course means to pay it :.
1t can not pay it, however, with ut taxa
ton and without spirit of economy in
the party that controls the. government
Yet even if that party cvinced reckless
ness that cannot be proved against the
Repu- lican, it by no means follows that
the country would find relief, by throw
ing itself into the hands of the Demo.
Gratis, for reasons that we have sue
gested. What, TIL n, are the facts7
The receipts for the last fiscal year
were S406, SOC, 600. What becomes OF
thls-great sum? The mass of it goes to
pay the neeefsary debt For interest
Sl4l, ,635, ,55l. For principal paid, s54,,.9 =
749,777. For bounties, pensions and
other.-war claims, s83 ,683 ,291 Here
are about s26o,000,0OO, including the
cost Of the Freedmen's Bureau and Re-
construction expenses. How could Il
Democratlc administration reduce this
amount Z. For the Bureau is now 10 end,
and the Reconstruction expenses have
mainly ceased. Besides this sum how
ever, there are. the ordinary expenses OF
the government, the Civil list, the Int
rior, the War and Navy Departments, and
the Engineer Bureau, all amounting to
little more tLan $l46, ,000,0O0. This alb
surbs the revenue, and Senator Sherman,
who is especially conversant with financial
matters In Congress, says: Al cannot re-
call a single item of appropriation, except
for the treedmen's Bureau and Recon
Struction, that was not supported by ali
parties, both in the Senate aud House.
!. But Congress has materially lighteped
the expenses. 1t opposed the enormous
pressure, for extra civil and military pay,
involving millions of dollars. 1t has
abolished that temporary but most indis--
pensable institution, the Freedmen's Bu-
reau. Noting has been more malig
nantlyopposed by the rebels aad Cop
perheads than the Bureau,, because moth
ing tended more to secure finally and alb,
Solutely the victory Of the war. The
Democratic orators have made the loosest
statements Of the enormous expenses OF
the Bureau, devoted, they0declare, ITO the
support Of lazy able negroes. Mr.. ID.
W. Voorhees, lately asserted that it spent
for that purpose ten or fifteen millions a
year. The truth is, according to Gen.
Howard, the unlmpeachable, chief OF the
Bureau, that, deducting the pay and al.
lowances Of army officers and the COM
missary stores from army depots, the total
actual cost OF: the Freedmen's Bureau has
been less than SIX nillions sof dollars. It
has been no less the friend of the poor
whites than of the poor blacks, and its
service to the country has beenlof the,
noblest and most invaluable character
In the other departments of the Govern
ment there has been similar reduction,
so that the aggregate appropriations for
ordinary expenditures have fallen. from
Sl56, 900, ,00U to $9l, 100000 With all
the drawbacks the expenses Of the Gov
ernment this year will not exceed $780,
900, exclusive of the public debt and
bounties and pensions. b5s. 1o1 : II -
Now how IS the money raised for these
expenses? In other words, what IS our
system Of taxation The subject was
tcomparatively y new to >tls, and we began
with "a seumbrous complication levying
taxes upon multitude Of articles with
the aim OF equalization. Gradually, how
ever, the system becomes simple. The
taxes on food, clothing, and the necessa-
ries of life have been repealed, and upon
manufactures except spirits and tobacco
But the customs duties are laid upon lm-
ported goods, and yield about. Sl65 ,0O0,-
900 The taxes on spirits and tobacco
have welded as much as $50, ,000,6 IN
! a wear. But the frauds were SO enormous
that the rate was reduced, and return
of s100,000,000 from tn Sc two 3 sources
is now estimated. There are besides
these tie income tax on all incomes over
81 600; the license tax the stamp tax
! the tax on railroads and other corpora
tions, and miscellaneous taxes upon such
articles as billiard tables, carriages, ;ant
I plate. The ez penses Of collecting th'
internal revenue last year were less thar
three per cent, which is a smaller rat
than that of customs collections OF, of an,
local States or city tax in the country.
This may not be a perfect system Q
i taxation But it is constantly tested b
experience, and is vigorously modified t
meet the necessities Of -lhe country
Have the Democrats, who so vehement
denounce the ax-gatherer, proposed an
method more effcctual? Looking Mt tn