Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-12-08

with the annual reduction OF the principal.
When the internal revenue and tariff laws
snail be revised so as to harmonic with each
other, II is supposed that three hundred mil
lions can annually be realized from these
sources without burdensome taxat on. How
much shall be raised from each, can be deter
mined when the whole subject of revenue shall
he thoroughly investigated by Congress, with
the light shed upon it by CommissiU Uner Wells
In his exhaustive report Of the present year.
The Secretary does not doubt, however, tina
the best interests of the country will be SUBJ
s"rved by a reduction of the tariff and an iu-
cred>e OF excise duties.
II ere would De lett as an excess Of receipts
5.COLU,n, to be applied to the p iy rnelt of the
principal Of the debt. IL tue growth Of
the country should make au increase OF
expenditures necessary. this increase
Will. by the same cause. he provided
for by iDcr, ased rSeelpts under the same
rate OF taxation: and as 1t is 10 be hoped thar
the regular increase of the revenues, without
an increase Of taxation, rssuitlLg from the ad-
vance of he country in wealth and popula-
ton. VIII be greater tEan the necessary increa.
OF expenses, there will be con stlntly in
credsing amount IN addition 70 that arising
from a decrease of interest to be annually p
Piled 10 the payment OF the debt. II large al
tItional expenditure should be unay oidabe.
they should a; once be provided for by ad-
nluonal taxes. What is required, th1n, AZ the
present time, Is a positive limitation of the al
nual Outlays to three hundred millions OF dol
lars, Including fifty millions 10 be applied
TO the payment of the principal OF the
debt, and such modifi aJions OF the reye-
nue laws IS will secure this amount, without
unwise restrictions hpon commerce, and with
the least possible oppression aud inconyeni-
ence 10 the taS payers.
Assuming that the receipts from customs Will
tie reduced by a reou ctlou Ot duties, or by the
elects of Il return 10 specie payments upon I'M
poriatlons under the present tariff, and that,
consequently, there must be al increase of H.
ternal taxes. there are three sources OF reven ue
which are likely TO b. considered
First. An increase uf taxes upon distilled
IA
revenue from this article Is very popular
one; ana even our unfortunate experience has
only partially convinced the public OF ITS i'm
possibility. The late eXorbItau TAX Oh distilled
spirits, Intended, perhaps, not merely as /, rev.
euue MEASURE. hut as an encourageTn Tnent TO tenn
perahc', proved 10 bs the most demorlllZing
TAX ever imposed by Congress, corrupung both
the manufacturers and the revenue Officers,
and familarizlng the people with stupendous
violations OF the law. Tle restoration OF IL, or
any considerable increase OF the present tax,
would lead 10 "a repetition OF the frauds which
have brought The Internal revenue system inio
such utter grace.
) 'cOnd. A restoration of the tax on manutac-
tures abolished in March last. The objections
10 the restoration of this tax are, tina; il would
indicate vacIllatlDn on the part of Congress
and that this JaX. principally on account OF
numerous exemptions, was partial and ua lust
IL Is also apparent that, If restored ii wouId
fail to be permanent by reason of the persistent
and united hostility OF a class OF citizens IGfu-
entail and powerful, and whose influence and
power are rapidly increasing.
Third. An increased and uniform tax or
sales and this the Secretary re- pectfuiy re-
commends. Under the prrseut law Wholesale
ana retail Ceaisrs in goods, wares, 1ad mc--
cIandise OF foreign OF domestic pgodu cciCn,
wholesale and REAL dealers III liquors, aud
dealers 10 Tobacco, are subject 10 q similar but
nneQ ual tax upon sales. This ins11alty
shCLlG be n moved, and d tax levied upon all
sales sufficient, with the revenues from other
sources, To Meet the wants Of the G verumeut
The reasons in favor OF q tax upon sales are
II rln no
the country, and would not b. liable 10 the i'm
putatiOn OF class iegi-lITIon: that A. would be
so equally distributed no, 10 bear SO op-
pressiyeIy as o her taxes upon individuals q.
sections, ana THAI no depressio OF ole branch
OF Industry, which did not inluTIOu-!y affect
the business of the en- ire country, could greatly
les-"n Its producuvenesS.
The Secretary tnuks the present may not ba
an untavorable time for the revision of the
tariff.
BY comparison of statements it ap-
pears that the debt, between he first day y.
November, IcJ7, and the Irst cay OF Noyern-
Der, l~ho, increased S3I,j(j, iG2.~2. OF tbs ia
cr' ass ~2i- lJ21b l. Char-eablr u the PaCin.
railroads, and S7.2o0,u,0 10 the purcaas. 0;
Russi.n America Within the ina peri III
there was paid for b0uutIes Sl+,06h,1l5 and az
least S4.0,C,UO0 for interest on compound and
seven three-tentn noes, which had accrued
prior 10 The first OF November, lSO7. l: these
extraordinary advances and payments had not
been made the receipts would have exceed I'd
the expenditures S4},.s7.ii".IS Considering
the heavy reduction O; Internal taxes. N .He Z:
tho las' session o. Congress. aud he Iarga eX-
peDdiiures which have attended the Inilittrv
OTeI"tlUGs against the Indians on t..
fcouuer, and the maintenance OF large
forcet at expensive pDIu's III the South
ern States, his statement OF the amount
OF the debt cannot be regarded an UnSaI.st IL
tory one. The bJuntIcs VIII, 1t Is expacr-d. D.
eItrely pad within the next three moaths
and very little interest, except tina: which a.
Crues upon the fanded debt, j. hereafter TO b.
provided for. Should there be h-nceforyh no
extraordinary expenditures, and no further do
nations OF public moneys in the form OF boun-
ties or OF additional subsidies II railroad COM
panies-wlth proper economy IN the admins
IratiOn OF the General Government, and with
ludICious amen ailments of the revenue lawS,aud
proper enforcement thereof, the public debt.
WltnoUt oppressive taxation, can De Rapidly
diminished and easily extuguished within th,
PEI iod heretofore named by fhe Secretary.
The ability of the United States 70 maintain
their Integrity agaiEst inSurrectiCn as Well as
against Il foreign enemy, can no longer De
doubted. The question OF their ability, under
democratic Institutions, 10 sustain 4 large na-
tioual debt, IL still TO be decided. That this
question should be afiirmarIyely settled, il Is
ia the opinion Of the Secretary, OF ne hIghest
Importance that the tax payrnS voters should
be encouI aged by t tact, that he debt Is in the
progress OF rapid e&hnguiShm9nt, and Is not u
tie Il pernancnt burden upon them and their
posieTIty. II il be unGerstoo that this de is
To be A perpetual incumbrance upon the prop
Prty and industry OF the nation. IL is certainly
to be feared that the collection OF taxes necps.
sary 10 pay the interest upon 1t may require
the exercise of pOw-r by the central Govern
Eicnt, inconsistent with republicanIsm and dan.
gerous IL the liberties of the people. TIE debt
must be pad. Direct repudIation is an impos.
sIbIity: indirect repUdiatioG, by fur her issue
OF legal tender notes, would be madness.
The SECRETARY reviews the adHiiu stra ion OF
the Treasury from April, 1865, showing that
within period OF three years and seven
months, the revenues or the receipts from all
sources OF revenue reached the enormous sum
of s. ,G62.i96, ,CG2.Z0, and that SUjJ,I3Il2i.gO
We're paid on debts which were ac-
tualiy due at the close OF the war, and
for bounties which, like the pay of the army,
Were a part OF the expenses Of the war
Adding the amount thus p.tii to the deb.
as exhibited by the books of the Treasury
on the first day of April, 1cij, il appears that
the debt Of the L nited States At that time was
8, ,gg7 $50 2O5.2i. and that the actual reduction
vances TO the Pacific roads, and the amount
S519, ,G5O, ,6J0.i2.
Nothing can better exhibit the resources of
this young nation than this statement or show
more clearly Its ability IL make '.short wo-k,,
of the exting guisLInent OF Toe public debt Ii
will be borne IN mind that tpese immense rev
enues have been collected, while one-thir1
part of the country was In stat, OF great cas
resulting from its terrible struggle In
separate itself from the Union, with is political
unsettled, and its Industry in sraat
degree paralyzed; and while also the Other
two tn rGs We're s-owly recovering from the
drain upon their productive labor AMI re-
5 sources-a necessary accom- mpaniment Of q gi
gantc and protracted war.
The Secretary has noticed with deep ragre
indications of u growing sentiment In C1n
gress- notwith standing the favorable o xh,hit