Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1872-03-21

We call attention of our readers Ia the
remarks of Senator sherman In the senate
on Friday last. 1t isa very satisfactory |
exhibit of the national finances and of
what has been and is being done by the |
administration towards tightening the !
taxes. and also paying ofthc national |
debt. This s,atcmen, Is so fiattering. that |
any person. no matter What hi, politics |
may be-. should he proud Of his country |
and If its ability TO cope with NOT only a |
gigantic rebellion. but the harder problem |
of paving it, war debt
The tariff hill was taken ur. Mr. Shcr- I
man addressed the Seuatc 10 explanation. |
Mr.. sherman sail the taxes ALREADY re- |
pealcd Welded sra 6n0 600. aud oar rrNc- !
uucs still largely exceeds our expenditures |
The taxes that remain WELD largely more
than thu >anIc taxes in former wears. AMI
more than was cstiman.,l bv the most san
game persons. Ti.e pr"slursion If the |
country has largely Increased. and industry
IN almost every department has been ac-
lively emp o., c, Tile consumption oi our
people. which under oar system nftaNa-
ton j. chiefly the basis at Taxation. has hy
the prosperity Of onr iIslusiry been largcl,
Increased. Al the same time oar national
expenditures arr diinn shing ami our
huanciai condition improving In every
particular. We are sl".ly hut surely
without contraction or expansion hy the
Increasing rises in our paper money. alp
preaching THE specie standard. The inter
ct OF our debt i daily diminishing hv the
payment OF the public debt ani reduction
4 the rate of interest on that which re-
MAIN. All these favorable circumsiaucS
enable ms to approach further reduction
''f TAX. with uorc system aud Information
than formerly. anl trust with a SINGER.
desire make the rrduciion ~ such way
a Ia yield the largest possible relief {" Our
people. The only questions are hou much
and what taxes ought To lee repealed.
The time has nnw arrived when We can
safely r,tliirc thu revenues To barely rnou :,
{" pay the expense of the g",rrumrnt
rconnmic lily administered The interest
Vt the public deb; aud such al iiiioual ~
Il msy seem GOOD p"liry To- apply OIL The
principal expenditures duIiug ,ha last h--
al Year. cudn. June 30. 1871 mciudiue
interest. Wa s!9s ~. lSO. 81: Tor The cni-
rent fiscal wear. (pauly --iim Tcti) SeB--
400 Ce1 %; for the next rsCll year t.~ti-
mnei) s.73 Ol5 .73 %. rlr,e sums .N-
dude The sinking funds aud all the paw
inrni~ ~ the principal oi the debt In
n"i receipts of the GOV cTnInvui Tor the lat
N~f'Af war FftitNZ juno -. - l. " FFt'
SSi 3e3 81 So: i.,r the current Heal wear.
ESTIMATED sjia.0n.aDJ. The actual SAT-
plus eyeuar tor Inc ,rHr ending June ~
ISL. Ns> SOIL iG sS6GI. for The rirrvut
ti.cal YER fplrily r-,i ai-,l) s1l 5ai 99l
1s, for the next h~cai YEAR tt'~fiiupirl)
So ga 40 The question arises hoN ;1r
the estimates 81 expenditure Will be- g'l-
creased by additional appropriations ht
Congress
lie estimate of the Secretary of the
Treasury Cnnirmpiaics rvlncttru - thr
expenditure Tor the next ii.cal wear "a.
compared With thi- wear 81 utrr slloO1-
40. or a. rnmpI r,rl with last year 81 over
81 Go1 Och Bni ihi. 4 explained mani,
%, the exclusion from r.thnatc- oitbr pre-
uinu paid nn bonds and the premium To-
dICcl ou GOLD. hich balance vach other.
The estimates are ha-sd upon ihr appIo.
priatiuu> rrput ~ y, cxi-tius llN> th.s
IAN and 20. .hl Ia H. 4 mini. htfl ~ several
important htauchf- ~ the public s~rNtr..
The abolition II the frankiu. pFi, ilr-r.
reduction - public printing. reduction ~
/ internal revenue NrfNtrr. close s.ruiirl
Of The pru.3ou ~. ! careful Limitation or
the appropriations fur public buildings anl
GENITAL emitting of ut Expenditures trni
grew ont of the War. bat hayr survived
the war. wnu'I cuahic a., in r,ircal o.hvt
taxes without Injury - pub'i scrNirv.
The custom revenues Since 80 show aii
annual increase Of slo.Up.Uo. aul ~,
during that I-'iiod duties Wrr.. frI"aicri
which Welded 500 co 90 Il 4. apparent
that custom. duties Tor ihr current wear
viii LARGELY cNrcr,l last tcAr and there L
no apparent rra-on that the itrrrs-c viii
ia; continue dntinE lhe next fiscal wear.
lh~ receipts ct customs from Jul, ISL
tn March ! 1872. w"tc slIG..sl upp. Al
-. -.
t.-'or -aihipuu 80 cxccs, "I the estimate. %,
! the Secretary 81 the frrA.ur,. Ihr inter
nal revenue FIR the hrNt fiscal year 1. g.
/ tnaicd NJ slla 5O0Oo) Thi, ,ib-. ne, in
| rlusir the T--idnm OF Income tax Tor II
| which will make g.,psi the y cru;ArN's e.
,iusaie OF SIG COCO The proceeds al
the .ai-. OF public lands. etc. j. estimated
At s2i 600 on. making a total of sj1J COO
900. or eli Ooo COZ. ~ -xcc-- Of the S,crr-
| iary Of the Treasury r.iinIale and A
| hundred millions Ia -Ncr-s Of the e.,iiuat-
ed expenditure. Appl, mg so COZ. go
to the reduction Of the public debt anl
there is still 4 surpu. OF $50 600 ccJ, which
should b. the extent Of our revenue re-
| duction at this sc-,inn.
The fear that high dtrics would lessen
onr forci IN commerce Is met by il steady
growth. The imports IA 81 were silJ 95i.-
| ll6; IN 20. $50 .O9l i73; Ia ~ sJo.5Is.-
s5l. The Increase Ia Internal commerce
WAS much greater than the forrign. and Il
u now estimated ut siOo0.oO0.Oo0 The
falling of In our merchant marine on the
| OCEAN Is caused by substitution OF iron for
wooden vessel and for Internal commerce,
railroads ar rapidly 'akiny the place of
wafer navigation. II foreign built vessel.
| were admitted la American regi~ir. both
| for Internal and external commerce. nj n
rra>onzb e rate OF datt. fhi- w,.tiId not otl-
| ~ encourage building Of American Iron
| ships. but would scrur. healthy cuInpeti-
ton la our Internal and cnaStn. trade.
now absolutely protected by our uayi.a-
| don laws.
| am prepared 10 say. without commit
| ting any one else that we can and ouyh
nov To- repeal all Internal taxes. except con
whiskry. tobacco and beer. and Ia cul,snii.
dat" aud simplify them. The income tax
expire> with the collection Of The TAX of
ISL. which on PERSONAL incomes l. a..cs>-
c.i durin. this month.
Instead Of repeating the duties on salt.
tea and coffee. the committee propose a
large reduction Oh them. Ne reduce the
duties on lumber. rice. Lad and other arti.
cle~. The raw products Of industry on
which present duties are excessive. We
largely add io the free list. and propose I
reduction often per cen. Of diit> on most
taNlblc aud metallic fabrics THE rc,luc- I
ton proposed l. So 507 80 70. but we
may fairly anticipate the lcs>ening OF ex-
pen>es and such an increase ofinportation
a. Vii, reduce los, 10 the revenue to Sal
100000
Ar. Scott followed in support Of III. |
amendment offered yesterday TO make ten |
and co6-e free.