New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-01-08

past year such extent, render what 1865
seemed abnormal and uncertain, now legitimate aud
The record Of the export trade in Petroleum for the
last three years has also been similar TO hat Oh
petroleum. with the advantage of a high premium
Year 1858 the exports Suddenly rose 70 al aggregate Of
O0OOG and this extraordinary increase, which
during the past year been substantially maintained
In the department Of Commerce aud Navigation the
Northern lakes and other inland waters In excess OF that
any former PERIOD the increase OF tunnage engaged in
commerce upon the lakes during the past year being es
mated at fully Is cent or about 10000 tuns exclusive
vessels Of small ca2y According TO inc H o1
classification in vessels and tunnage upon tho lakes for
the year ending March 81, 1861 the corresponding
period in 1864, was as follows .....
Isol.......... Vessels 6ss. ...--. Tnnnage 3o2So,
The American commerce employed upon the ocean has
also recovered in degree, during the past year. from s
The returns of tie leading railroads Of the country for
the months ending October 81 1851 also indicate an
period of the absolute in the net earnings
OF seventeen Of the principal lines having been equal
fTShSs ss Of s1 S per apos& as Probably tho
most prosperous Of recorded month In tie history of
The aggregate business Of the country for the fiscal year
1861 by the returns Of the Inter Revenue
from the taxes sales and special taxes cense does
not, moreover, indicate falling of compared with
The argue that when the Country was
expanding from 1861 to 1866 average of per
debt for nearly the whole amount still there
| was a Withdrawal from the LbOrins and pro-
ductive industries TO that extent viz, s2i OF per
head and says But hostilities have now ceased and
peace has returned; and with such change IN the con-
suggestive portion OF the country could contribute
surplus labor and capital an annual value 81 s2l o.
per CAPITA for destructive purposes will 1t not be easy
for the whole country with its labor and capital restored
for payment y Interest," expenses and the REDUCTION
OF debit And yet the payment OF this sum VIII meet
600 Tor Ordinary expenses, sisooOoOoo for inter.
| est. and s5O,OOo.OOo for tho reduction Of tue
taxation be continued for the future, 1t will extnguish
the entire principal of the debt in less than 20 years.
estimate Of $40 100000 ordinary expenses equal
to q head the annual Increase Of popua
ment the population Of the United States by the year
Ill., proposed to Rssy ya ss psr sS Which ony
threeourths Of the rate OF taxation paid In 1885, after
TSen recourse Gs Si to Of the Internal taxes which
materially impede production, as will be elsewhere de-
wealth of this country increases in much more rapid
ratio than populations the burden OF the uniform rate
of 80 IS per capita will become annually less and iesa
But notwithstanding this exhibit there are many per-
sons In public and private stations, who either In
Inundated by their apprehensons or msed by their
mission to magnify the burden Of the National state,
and local debts OF the country and to predict Tor THO
The data pfsented sufficiently proves however that
far the material strength aud development OF the
little or no foundation and respect to the largest alb
soute debt OF any one Of the STATES VIZ that OF New
report In such manner as tends to create dlsut and
impair credit the woaid eau SaS
OF the apples alone, sent to market from eght Oh tho
sueen to pay the interest on the entire debt aud add
about annually TO the sinking fund.- OF In other
words all other forms OF industry or production In the
State Of NewYork should contribute to the State
debt but the appsrees In the counties referred "
duct il devoted to this purpose through the patriotism II
their would in less than ten years eht9gu,h tho
Sl6,OO0,OO0) OF the Erie Canal
Turning from the further immediate consideration
Of data drawn from domestic sources 70 comparison
the financial condition Of the United States present aud
ia and M are led ~ the
following conclusions: That the United States the only
ent materially diminishing debt and reducing its
and the only one noIeoyer which ohers any, Ian
mite period, or even anticipates the probability Of any
The Commissioners here presents o statement of tina
condition Of the debt OF Austria Italy Russia russia
causes Of our comerca depression are general and not
local. confined to country and the result OF nat
ural and not unexpected reaction from period Of high
prices speculation, and Oyerproducon In fact tho
people of the United States have great cause OF
since termination Of their has swept over tho
commercial centers Of the whole civilized world has
as there is not to-day country Europe in which tho
paralysis OF industry is not greater the failures more
cal prosperity and activity less encouraging fhan In tho
The Commissioner compares the prices Of leading prod
uct this year and last to show that We are SIMPLY return
ing sound and healthy prices TO the adyanaYe OF all
furthermore that far from there having been any a
o TIE cnrrecy the tendency In truth has been entirely
opposite direction; for cannot be doubted that
country 10 at least per cent must have been equya
large addition to the machinery OF
effected Indirectly this has amounted TO- cam
not be definitely Stated: but In the opinion OF the COM
months, than hundred millions OF COLLARS
In the previous report Of the Commissioner
that while mn 10 the of the year 1867 the
average advance Of commodities was about ~ per cnt
that Of @ was SSs .SSey ol
have fallen much more rapidly nat tne
s on 1s %sse @s than when they bad
maximum The condition, therefore VI oomestlc mus
when once revived through the removal OF taxes VIII
production will rapidly follow consumption, ana ptvoue
ton In turn great legitimate source OF both natoh
Relative to the tax distilled spirits he reports;
First The has been placed at such rate as 70 con-
stute itself so great temptation 10 fraud Una. aver,
a aS%a 9o resiS as secondly the system under
which tho officers have been selected TO collect the Tax
sns snpedSS oSes WE ee and capacity
the Jrsi, only and essential qualifications Tor appons
The Government collected quite on
production OF $1,000 900 gallons, or on one gallon IN hfee
ducton of the tax gallon, and the collection
OF the at the place OF manufacture aponshhS an
revenue OF over 100000 He advocates repeal OF ths
special license tax and substitution OF tax Oh rom
per cent sales, and Of 10 cents per CANON Oh s
rectifed. 80 -, ,..x
The tax obtained from fermented liquors has increased
under the stamp system and Will reach sooOVVo ,,~
The collection OF the tax on tobacco Is sun more u,n
cult than on distilled spirits e'a sra o by "T
inspected packages second tne' by suosttuohg tns
higher taxed the lower taxed tobacco, by allowing
sales OF small quantities without inspection marks by In
adequate bonds, &c, &c. Adopting the C0nmlsSohcIs
estimates would result he thinks III the following fo'o
nue. viz: m 49,. =, -, s.ooooooo
From fermented liquors. 6OOO,OO
From tobacco and its manufactures. 20ooo.0oo