Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1871-09-30
Commercial.
The baltimore Convenrion-Finh Day

FINANCE AND TAXATION.
BALTIMORE, Sept. 29.-ln the national COM
mercial convention, this morning, Mr.. Thurston
of Pennsylvania, presented the report of the
committee on finance and taxation which de-
clarcs:
First, that an early return to specie payment
will promote the best interests of the nation.
Second that while the public debt is of the
highest character Of financial obligation, and
any evasion thereof is dishonorable to the ma
ton and subvCrsive of that high standard of
honesty that should characterize people in their
individual transaction, as well as in their ma
tonal Obligations; yet the punctual payment OF
interest upon its debt, and such portion of the
principal thereof as serves to show perfect
financial ability and good faith of the nation
toward its creditors, is all that is necessary to
maintain the public credit, Therefore, we de-
clare that we are in favor Of such very gradual
payment of the public debt as will not interfere
with the productive energy of the nation, and
enable u.s. by prOongation OF It's final llquida-
| ton 10 acquire from year 10 year, a greater
| population to share and tighten the burden OF
its payment, and 10 develop the resources of the
nation, to increase its revenue, to meet its obli-
CATIONS.
Third, requires that taxation should be equal
ly and fairly levied and collected; that the civil
service should be administered with rigid and
economic care; that the government should de-
rive its revenues, in the language Ofour fathers
chiefly from imports and direct taxes should
only be rcsorted to in extreme cases, and the
present income tax should be at once abolished
Fourth, that it is not to the interest of the ma
tion TO levy any prohibitory duties, and that
every facility should be given TO the direct i'm
portatlon of merchandise into inland cities and
towns, as productive of leSseued cost to the con-
sumner and saving time and charges at seaport,
and duties and commissions on packages,
and all other charges, except on the cost of
commodities of questionable utility.
Filth, that any taxation in addition to the i'm
port duties that it may be necessary, from the
financial necessity of the government to levy
upon the products of the country, should be
moderate in its character, aud that the tax upon
all kinds Of manufactured tobacco should be
uniform and reduction of the present tax
would be advantageous to both the government
and the manufacturing interest thereby increas-
ing the revenue from that source, as the reduc-
ton in cost increases the consumption and ex-
cCssiye taxation leads to fraud; that all regula-
tons respecting tax on whiskey be so arranged
as to surely collect the tax without embarrass.
ment TO that industry.
The resolutions, as reported were finally
adopted. Motions to substitute for the first a
declaration that gold was a commodity TO be
bought and sold, like any other, and favoring
paper currency; motions to strike out those
declaring that the government should raise its
revenues ifom Imports only, aud that the income
taxi should be repealed being vigorously dis
cusSed, and successfully lost
Resolutions tavoriug a speedy completion OF
the FuX and Wisconsin rivers Improvements,
and enlargement of the Erie canal, were adopted.
A resolution was adopted declaring that the
cotton tax levied during 1866 and 1867 was un-
constitutional, and requesting congress to pro-