The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-08-04
Tho publicsDebt-Again.

sr Rorrvyra.'s monthly statc''''''s ha,
,r,r 10 h;,h,v interesting. Let US sec "" ',s
# tells us: In the first place I" the Gov
that the whole bonded dco' VI =, millions
eminent IL less than two tbohS''. ~. honas
Of dollars, and that, some ~ ,,,,1 IN.
he;no five pcr cent. ones w 49,.
'e"s NV -, ,bc bonds Is less than one nun
"ie,. o ,wclye millions of dollars. This
,ho Government could easily raise
..t.ho,, taxing onc-haif of the articles
,,.h,cb are now taxed. But as the DISPOSE
,ior IS to raise as much money as possible
from the tax on tobacco, 1t Is plainly to the
interest of our people that Mr.. Boutwell,
should be encouraged to 60 on in the work
of paving of the National debt as rapidly
as possible, since otherwise the taxes VIII
be removed from all other sections OF lhe
country, and we who manufacture tobacco
will have to pay the whole sum Levied 'Pou
tobacco. Mr.. ScHEscK, the chairman u
the Committee of Ways and Means III '"e
House Of Representatives., and MI. ho r.
MAN, the chairman Of the corresponding
committee in the Senate, have po'h u''
clared 1t to be the purpose of their com
mittces to take the taxes off all other ARR
cies ~ soon as possible, and collect all VIC
internal revenue from tobacco anu Wills
key. Those persons and sections, Inc"'
that would thus be left to pay all the inter-
nal revenue taxes may well support Ni''
boutwell, in his policy OF paying OIL nun
bred millions of dollars Of the pu'i1c aep'
annually, since this extra hundred mihtoh9
will continue to be collected from the hor1h-
eru peopIc. and since we might Thus IN Il
few wears get rid OF the whole oil the ma
tional debt, and, consequently, OF All 'ne
tax upon tobacco.
This leads us to remark that Mr.. bout
WELLS last monthly statement shows Thai
rs he paid of over two hundred milllohs
of the public debt in two years after he
went into office, be could, by keeping up
the present rate of taxation and paying of
annually an additional amount OF the DEBT
equal to the amount of interest saved, free
the Government entirely from debt III ten
or twelve years. Then the whole system
of internal taxation could be abolished,
and the industries of the country be lett
perfectly free.
This statement also shows that mot in
two years, buD in two years and i've
months, Mr.. BOUTWELL, has set tree capital
to the amount of over two hundred and
torty-two millions of dollars which had
previously been invested in Government
bonds. Where is this capital? We answer
that it is doing much better service. II is
building railroads and canals, establishing
furnaces and factories, and purchasing
southern lands. Every month, if We Will
let him, he will set free money enough to
pay for constructing Il railroad two hun
dred miles long, or a canal, or TO establish
hundred furnaces ant factories costing
eighty Thousand dollars each. Is not that
good policy for us of the SOUTH.
There is one feature Of Mr. BOUTWELL,
monthly statements which is an eye-sore to
us. We refer to the exhibit which he
makes of the financial operations of the
Government with the Pacific railroad COM
panies. 1t leaves us always in Il most in-
glorious state Of dubiety. We know not
when the outlay in this direction is to
cease, nor how much it has already
amounted to.
But enough. The subject is interesting
TO us, yet may not be equally 50 to the
reader.