, 1869-01-06
Citu srbstri5frs eAn hare TIE SUN
DAT TRIBUNE de,ireTcd bY carrier on
l<arin9 tie order in our Counting Room.

COMMISSIONER WELLS REPORT.
Decidedly the most impartant contri-
button to financial and economical |
science during the current fiscal year is |
the .cpc1t Of Hon. D4vid l.. Wells, t
Special Commissioner OF the Revenue.
The report commences with an examina-
lion OF tie prcsent condition Of the
capital and Industry of the country. |
While on the one hard theic is much to |
show that the country is rapidly recov-
crirg trnm the effects OF the war, and |
resumlrE the wonderful carter of pros |
pe.i!y which markcd its progress up to |
1860, there are other facts which unm's- !;
taksb!y indicate the existence Of agencies |
which tend to obstruct nstionat develop |
mcnt, and to foster speculation, idlencss,
extravagance and bankruptcy. The evi-
dcnees of prosperity are found in the
continued irflux Of immigration, the gen. |
eral increase in the products OF manutac- |
turing, mining aud agricultural indus |
Try, in railway and telegraph extension,
and the reduction Of public indebtedness.
Within the last five years, says the Com
missioner, more cotton spindles hare
been put in operation, more iron fur
naces erected rnore iron smejted nore
hsrs rolled rnorp steal made rnoTe coal
und conn.r nosnoa n,ore lnnber sauod
~ 49,, ,ro-a bo,.a. "a ehoar 49,
e,-rc.sa nnora msnn9ac ctor;os e.artea ona
more petroleum collected, refined and
exported, than during any equal period
in tho history OF the county, Since the
4ern,i,.t;on =, IN 1,o = ~ .a.,,;on ;1o,,,,
....,.e 70. con,a ;nto ~ I7n;,o1 c,a.a.
L.;n.,no u5,h hayn m. lcso th.n ean nm
fr.o n no,d and adding IN rho nrodnct;4ra
,,oror ~ ,be rcnnfr m, lese tban
+sno nm mn nr-,n - tbc met re,- 510
.o;1as ~ ra;,,ro1 mi g mn Nils NJ +a,-
a,-szb u;-, ,a~o hmm oddo7 IN +ba ~
,snot;1a ra,;,ar nj ,ho country
tu,no +ha aoeoc;es roDc.,nod Z, NM
s .'-..;sza, 49, s...1ss-as., 49, ~
-uo.lus nAsa4 s,s'op, 49,. 'poa.,a. ~. o1
nl>s!onti suo"e .ua' '1a'a''ou uas Aau
ao t'eleep''e'e snee'' "u1ie on1'os tuoee
coGcelneo III enceAlne IT, .ne lnos' oe'e-
1t11ous na'e oeen an !1leoeenaao'e Papsl
currency aFo excessive 1a2a1lon. AS
showing the unhappy tIn1eaces OF these
Two sgenc:es, the Commissioner makes
Il, 1T
ccmpa1lson OF the prlcss OF lao3r and
commco1t1ts III 4eel-b@ anu lo6i@e,
showing lhst Inc average increase IN tho
oar+ ord ,he averaro ;ncrav:a oF u,aa.
NJ nner;1tad 1ahor inv mr. cenr and ~
<i.;,1cd 1,1or e,1,v ner cenf RI. fact ID
49, ar,Sh,;,ta5 H. ~ .5,,;s -.
thus es'aol1shed tna1 tne conultlon OF
Fo1ktngmen ARD women IN the tinted
~ :, - w, ,a,oss q, ~ ~ .-a~ ~ 49, .'a,as s.s
"as - -,:a- ~. 'ao.es
eo-ao, ~ 80, ;n,.i",,'na p -. 49, ~. ~,
e., ~ oaran,a,;oa o. 49,
pea;a ~ aanaar;son ~. 49,. -, ,a, suI
- 49,; 7orn =, 7eca 1~'
= From these investics,,ora N. co,,,,,.
Sim ;s drs.rn ths, un,I., tho oo~onsto
wrath n, the cn;1ntru Il ,nc-n.e;r9 a.
raufd]v as at auy former nerin,, ,hpTe K
mt the same measure ot oene,.f ,,orrar
i,y. There is an infona,,,v in the All.
tribution of the annnal n1c.,nct ,p,,ict
must be referred to a1tit,e,a, cau.es III,
rich arc becoming richer and tho mn,
poorer. The Causes for tbs most undo
si-able condition are to be found In an
irredeemable psper currency and in une.
aual and excessive taxa,iog, The moietv
Of this evil duc to an inconver1tble cur.
rency cannot be precisely ssrimsted hu,
it can be shown priori that in the use
Of such currency the Capitalist is re.
quired to make an addi,io1al charge fol
the increased risk invo'vel N i: s us ;, and
that the non-capital,Et, whe1ber borrower
or consumer, is required to pay il.
The Influence of taxation, under the
internal revenue, the tariff an! State and
municipal assessments, emh,accs one-halt