New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-03-16

Congress would enable us to propose greater reauS
Sn rnS h nss is the Secretary
that the sum OF s27s M us % will be required the
of the pS debt 81 the the
this be added sueh fnr,her sum sun rodSc,,o y
Of tss ppS SShS ds cSO' 80 much Of tits
under S act Of G Sps1 Ss scu n1d S This n con
ssts OF two items namely per centum OF the agre
sat tss sInspe fund which, next year will be $685.
or an aggregate 26S This sum increasing year by
specifically pledged TO the reduction of the debt and
lis regular payment and much part of the public
obligation the payment Of the interest Of the debt
The Committee Finances have concluded that $4,000
O6 including the sinking fund provided by law should
be applied TO the reduction OF the debt aud mat TINS
77s 49, should be the basis of our revenue reduction
CUSTOMS ESTIMATES.
The receipts from in the fiscal year 1863
in the fiscal year 1862 slsoOasi26 6s in the
fiscal year 1870 ga "a in the fiscal year 1871 $780,
27OOs O5 annual increase of sOOOO0oO, and
vet during this period. Customs duties repealed
which yielded s2ooOoeOo per annum II now apparent
exceed those OF last year and there is no apparent
reason that this increase will not continue during
March. 1872, period OF eight months sor t n,e
remainder of the fiscal year. the aggregate receipts VII
be s226O6l5oo -Four months the Secretary OF the
Treasury estimated the receipts from customs for the
next year AT $22O0OoO but upon the basis OF the ex
stiug law fairly estimate them at s226V,IU,
The internal for the next fiscal year upon 1ne
basis Of the existing law is estimated at s9oVVVV us
follows
ssOOoo S,a bankers 5000 @dse, five
me' taxed but exempt $4,000; total sllsSG!Oo ~ &,
This estimate does not include the reSduum OF lne IN
tax personal incomes for 1871, part or when
will into the Treasury during the next nscaI year.
the Treasury of S26 O 600 We have then the proceeds
Of the sale public lands and miscellaneous sources OF
estimated at 2l.OOcOO. making an aggregate
revenue for the next fiscal year of 00Oocustoms
S226 10000; internal revenue s26ov1 Pu s1S oo o
upon my estimate soOcOOOO on the estimate OF the
SS T 81 tne ON that Of the SECRETARY Of tie
Treasury II thus appears upon the rnclpes nave
stated and upon estimates that necessarily involve I'M
certainty that after applying OOOOo0O upon the public
debt, still will have surplus revenue OF S5O,WO,uJo
Fifty millions then IS the extent OF our revenue reduc-
ton for this session.
TIE RESULTS PROTECTION.
How shall this reduction be distributed among the OBJ
iects OF taxaOn In what mode will the greatest relief
he given to the people of the United staesi Shall this
large reduction be made the occasion Of the entire re-
vision Of the principles upon which reve-
nue. laws based shall we repeal or reduce the
most burdensoe leaving undstuTbed the general
OF March . 1851 commonly known the Morrill, Tariff
bi domestic industry has been protected from for
eign competition by duties on foreign fabrics, mainly
specific but when reduced TO ad valorem rates. rang
ing from 20 per rcent. Under this protection all
branches Of manufacture have increased in an unpar.
aleled degree Old industries have been multiplied ana
industries have been established Our military ana
naval operations have been conducted mainly by the pro-
ducts OF home industry We now produce nearly all the
metallic and textile fabrics necessary for the Of man,
and the superior invention and intelligence Of our
mechanics is lar gely making good the difference between
cost of the leading productions Of Industry now, under
domestic competition, nearly and in some cases quite
cultural products has by the diversity industry
and by the rapid extension OF our railroads been
maintained high In proportion as mechanical
fabrics while the home manufacture OF agricultural ma
chimes has esened the labor Of the artisan to the rudest
of manual labor. either the farm the mine. tho
workshop the railroad II has been nainta al ucl
higher proportional rates than the increased costs OF me
chanica or agricultural productions Our Protectve
system has drawn TO our country vast army OF ndus
PEELED tOmpnse domestic industry did not diminish our
production, for they were accompanied by increased
taxes foreign products. We may theOrze as we Will
but the actual condition of the country the best cyl
us during the war and since the war has been consist
ent with the most rapid Progres d has enabled Us TO
that high duties would lessen our foreign com
is met by the steady growth of IT,
Our imports in 1869 were s414,25624S 49, in
1863 snSo6l15; in 1870 $saOe2l79 in 1871, 1882
5s65l. thus showing steady increase in our foreign
We have not the statistics demonstrate the annual
growth Of orr internal commerce, but know that its
Inerce and Is estimated at the enormous
sum Of s4,cOco,coO. The falling of ii, in
the substitution Of iron vessels for wooden vessels,
and for internal commerce railroads are I9PlHy y IaSs
admitted American registry, both for internal
and external commerce. at a reasonable rate OF duty,
this would only the building OF American
iron ships but would secure ad beatty eSmReo4 nra
tected by navigation laws. If, then. the
EseGm By of S1s 5Sto'T0 s G'y that tt ns
been proven 10 have been wise policy in the
demanded by the improved and improving condition Of
finances. Our taxes must be reduced WIN he wants
laborer whom have invited 10 our shores, or
encouraged 10 deV ote himself special employment,
every capitalist who has been induced by our laws to IN
vest his money industrial pursuits, every hamlet vii
lection laws every community of farmers laborer or
shopkeepers whose industry has been employed by
With careful reference to the industry, capital
or employed in the development of your policy.
All laws that affect the industry Of the people
the inevitable change that attends human events.
hope. therefore. that in making the reduction OF our rev
enue we Will agree that II should be done 10 give the
greatest relief and to do the least possible Injury
10 any industry fOstered by our law.
INTERNAL TAXES SHOULD FIRST BIZ REPEALED.
In the several acts reducing the close of the
war 1t has been conceded that internal taxes should first
he repealed They were the product of the war, new,
inquisitorial reaching every county and hamlet and
were collected by officers OF the law brought 10 the
door of every household. The worst Of these taxes
have been repealed, but there stu remain SPECIAL taxes
which made IT necessary 10 keep revenue ohcefs in
every county Of the United States These special taxes
wholesale and retail dealers in spirits TOBACCO
and beer also banks and bankers ana on gas Many
OF the stamp taxes are imposed on the pro
dncuon of such articles as matches medl;
cines. and the ike. Others are on the sale or
property commercial paper, while all OF them In
VOye the employment Of multitude OF agents ior INC
states at cost Of Ave per cent on sales While pro-
ductye they annoying expensive IN
in multitude cases easily evaded If the special taxes
spirits, tobacco and beer be consolidated with
the tax levied the manufacture OF those articles
at the distery, brewery, and manufaet0ry, and me
special tax gas bankers repealed we can dis
pense with the vast army Of revenue officers ana con-
centrate The attention and surveillance Of the internal
revenue officers TO the places where whisky, To-
bacco, and beer are made II we can dispense WIN YIN
disappear except the excise taxes whisky tobacco