The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1870-04-04
CHICAGO.
Meeting on the subject of National
Taxation and Revenue Reform.

Meeting on the subject of National
Taxation and Revenue Reform.
CHICAGO, Ma CHI Ala response to a
call signed by several hundred mer-
chants, bankers and business men, a
meeting was held at Farwell Hall last
evening to consider the subject of ma
tional taxation and revenue reform.
The meeting was fair in point of num-
bers, intelligence and enthusiasm. Hon.
w. F!C6olbaugh presided, assisted by 30
vice presidents, made up principally by
leading merchants. Resolutions were
adopted calling upon Congress to take
Immediate steps for reduction OF at
least $4,000, 900 in the rate of national
taxation. THAT an abatement of the
tax, those which are most oppressive
and burdeusome, in proportion to
the amount of revenue which
they yield TO the Government,
shosld be abolished. The present tariff
has destroyed the ship building indus
try, and almost annihilated the foreign
commercial marine of the seaboard
States. That it has prohibited the con-
struction on our lakes and rivers of iron
vessels with increased carrying capacity
in proportion 10 tonnage and draft OF
water, with greater strength aud dimin-
ished outlay for repairs and insurance,
all of which tend To cheaper the trans.
portstion of products. That while this
tariff is unnecessarily increasing the pro-
fits of iron producers, it is crippling the
ship building and ship owning interests
of the great lakes ana rivers, 50 that as
respects competition with our Canadian
rivals, these interests are placed by
the General Government at great dis.
advantage, aud this in the face of the
most abundant resources for ship build
ing and navigation. That to the same
unwise policy is chargeable in q
large degree the heavy cost of rail-
road transportation, the cost of
direct transportation being always in
proportion to the cost of iron, and that
il is idle for the western farmer, not
withstanding his superior advantage Of
soil aud climate, to expect TO compete
with agriculturalists in other parts of the
world when his products are conveyed
to market over rails which ost seventy
per cent. more than they cost else
where. That our system of tax
alton should be Ieadjusted and
simpli6ed by raising the necessary
amount of revenue from the smallest
number of articles, to the end that the
cost of collection may be decreased and
fruitful source of corruption removed.
That the income tax places an unjust
and unequal burden upon the honest
horizons Of the community and operates
as q discouragement TO thrift as we'll as
apremium to dishonesty and should not
be re.enacted by Congress. That the
tax on gross receipts, which enables
corporations to charge their Gus
toners five times as much as they
themselves pay to the Government
should be entirely abolished. That the
reduction of taxes generally will enable
the Government to reduce very mate.
rally the expenses of the revenue de-
=, partment, while the reduction will
affect many taxes. That in the present
depressed state of all kinds of business. il
isunwise and unjust to continue paving
the principal of the public debt at the
= rate of 81 ,00O, 900 per month. That debt
was created for the benefit of posterity
2! as well rs for the present generation,
and that the burden of it should not be
imposed upon the present generation
- We can see no economy in paying
interest on . portion Of the dept
which has already been extinguished.
That the true method of reducing the
interest on the debt is 30 to improve our
credit that capitalists will seek to lend
money at lower rates of interest.
The meeting was addressed by Hon.
Thos. Hogue, Colonel J. w. Foster and
Z. A. Storrs against the protection of
American industry. PESO