The weekly standard., 1869-10-27

York Times and n en-
dorse the position ; taken 8 ;SoF s re-
duc,iOn of taxa aud bq1Isi< k<I tbsy eau
be greatly reduced aad ~ peye5af of the
debt still go on. sons rellef & greatly need
ed by our people. The TINES says:
"The declaration of the Commercial Con-
vention in favor of simplifying equalizing, 3
and reducing the taxes, is precisely what
might have been expected from an assem-
bhge representing muchrof the commerce
and enterprise Of the country. A conren-
tion of iron manufacturers, or of weolensl
manufacturers, or of 1umbefefs, or of salt
monoplists would not hsFe sent forth any
declaration of the kind. They would pro-n
bsbly have declared the present system OF
taxation the ne psas sltrd Of HscA wisdom
They might perchancc have suggested q
gentle increase of the tsfis IA their own be-
halE Certainly hey woaldnot have prayed
Congress to simplify, eqsalize, ot reduce ne z
taxation that now is. But fhe eenefaleoma
msrce and industry OF tnc country, being
<sfsss.<sss< > sss-ses raIIch> N .'iss&st
poets, is crude aud unsatisfactory, and nom
I tariff constructed 10 the interest Of sEalbA
favored classes rather than of the country, 20
are earnestly desiroas Of feiofnk The Louis
vile Convention only expresses this feeling ~
universal among the people when it calls for
| revision and amendment. iiolsna ,uo'gair,il
The first point which Congress may he
asked to consider is, that the present aggre-
gate of taxation is in excess of the actual
requirements Of the Treasury. The rapid
progress made by Mr.. Boutwell, in the re-
duction of the debt Is undoubtedly a source
of honest pride And the improvement it ID,
has impaired to the public credit may as
certainly be made the means of Tightening
the burden on account of interest on the
debt. But the national honor docs not ex-
act the extinguishment of the debt in four.
teen years, which, as Mr., Boutwell, tells Us,
would be possible if the present rate Of tax
alton be maintained. What is essential is, +
that steady and definite reduction of the
~ on- rVts HkoNbiNai puoco
yearly extinction of fifty millions would
be an adequate rate of relief from debt, and ]
by limiting it to this amount a margin Off J
fifty millions more would be available for, q
the reduction of taxes Even then, accord O..
ing 10 Mr.. Boutwell, the debt may be paid
off in less than twenty two years ~ 19Tu''
/ Apart, then, from the reduction Of taxes
which the rigorous economy of Genera I
GRANTS Administration renders practical
BILE, and apart from the relief which would
follow the Funding of the debt at a lower N
rate Of interest, it is manifest that taxation
may be reduced to the extent of fifty mil, "
lions without embarrassment TO the public
service or damage to the public credit.
But to obtain the full benefit of reduced
taxation, a simplifcation and equalization of !
burdens is imperatiyely required. Hence Q +
careful, wellinformed and essentially Just
revision OF the entire system is preliminary
that should not be overlooked. The reports
| of Commissioner WfIns are.a 'vaiuable con-
| tribution to this end; and the experience he
has acquired marks him ont as q man whose
counsel should carry weight in the delibera-
tons Of the Congressional Committees,
The country, meanwhile without pretend
ing to have an intimate acquaintance with
fiscal mysteries, is alive to the iniquities of
the system and the necessity of realizing
from reductions the most equally diffused
| relief soii3nI .lIex E9H 81 uoeledsl