The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1870-06-16

| According to this calculation we
must, of course, according to the
principle of the sinking fund, still
continue paying full interest on the
| whole debt, the part which has been
paid as well as the part remaining
unpaid, for the whole time specified
in the table. Allowing, then, $685.
100000 for application upon the
principal, We have S77,000,000 of u
surplus still and to this amount we
should, in my opinion, reduce taxa
ton.
Why, sir, we are informed by the
Secretary, in his report for the LIST OF
June, that in the past month we have
reduced the principal of the debt, OF
in other words, have paid on the
debt, S14, 100000. This rate of pay
ment, which would be S17o,O00,00O
per year, invested in a sinking fund
would pay the entire debt before the
ond of the next Administration. / re.
peat it, sir, the rate of taxation now
imposed upon the people would pay
the entire debt before the end of the
next Administration, if it should be
an honest Administration, as it as.
suredly will if General Grant lives.
The taxation, then, should be reduced
at least s75,OOO,0O0: Tho question,
then, becomes an important one,
"From what portion of the revenues
should this reduction be made?"
This bill, if it becomes law in
anything like its present shape, as
hope it will, will take from the inter.
| nal revenue about thirty-five million
dollars. And, with all difference to
the opinions of other ncntlemen,
think that this is all the reduction
we should make from the internal
tax the balance of the $75,OOO,0Oo
should be taken from the tariff upon
articles in common use among the
people, and which we do not produce
IN this country. We received from
tea and coffee last year about twenty
| one million dollars, which is the
same as direct tax upon the people
an odious tax, tax which takes as
much from the poor day-laborer as il
does from the millionaire. We re.
celued from sugar last year $32, 00O,.
600, which is also q direct tax upon
the people, odious and unequal, be.
cause imposed and exacted without
regard to ability to pay. In these
three items of tea, coffee, and sugar
there is imposed on thepeoplo tax
of s53,O00,0O0, which ought to be
repealed, and which trust will be
before this Congress adjourns.
If we repeal these tariff duties up
on tea, coffee, and sugar, in addition
to the $50, 100000 this bill reduces
the internal tax, we will have re-
duced taxation asmuch as%e should.
Tho question Is thon simply this: as
honest legislators, looking to the
| good Of all the people. should we
| abolish the tariff tax upon tnesc az
ticles Of the peoples food and their
everyday subsistence, or should we
leave that burden to stand, and re-
peal the income tax, and thus relieve
the wealth of the land? 1t does
seem to me, Mr.. Speaker, that on this
question we ought not to hesitate q
moment as to our duty. ! have re-
ferred to tho natue Of the tax on tea,
coffee, and sugar, and / may include
salt, as being unequal, unjust, and
truly odious, because taking as much
from the howell as from the palace, as
much from the lean hand of poverty
as from the full one of affluence. as
much from the child Of want and Of
toll as from the heir of fortune, Of
wealth, and of ease and | defy q
man to call this equal or just taxa.
ton.
Now, sir, what is this income tax !
undertake to say that in the whole |
range Of taxation there is no more
equal or just system of taxation than