Wyandot County Republican. [volume] (Upper Sandusky, Ohio) 1869-1903, 1872-03-28

vided by law, should be applied To reduc-
ton of the debt, and that this sum added to
sara, ,025, 713, or the sum of S323, ,O25,iI3,
should be the basis of our revenue reduc-
ton. The customs revenue since 1867 show
an annual increase of over ten millions OF dol
lars, and yet, during that period, duties were
repealed which yielded twenty millions per
annum. 1t is apparent the customs duties
for the current year will largely exceed last
year, and there Is no apparent reason that
the increase Will not continue during the
next fiscal year. The receipts of customs
from the 1st of July, 1871, to the 1st OF
March, 1872, are SAG, ,121, 900. At the same
| rate the receipts for the fiscal year aggre-
gate S226, ,06l 500, or fourteen millions in eN-
cess of the estimate of the Secretary Of the
| Treasury. The internal revenue for the next
| fiscal year is estimated at S1l9,500,000, viz:
Spirits, $50, 100000; tobacco, s36 000, 900; fer
mented liquors, SS, SOC, 600; banks and bank
ers, S5,00O000; gas, S3,200,0O0; adhesive
stamps, sl6,0O0,0O0; penalties, $500, 900; other
articles, 100000. This don't include the re-
| siduum of the income tax for 1870, which
| will make good the Secretary's estimate of
| S126 100000 The proceeds of the sale of
public lands, etc, are estimated at S2l ,OOO,-
| 600; making total of S3I3, ,0O0,0OO or S14,-
100000 in excess of the Secretary of the
| Treasury's estimate, and one hundred mill
| ions in excess of the estimated expenditure.
| Applying fifty millions to the reduction of
the public debt, there is still a surplus of
| fifty millions which should be the extent of
| our TcNcuuc dl lIllo ScSolOn. lut
fear that high duties would lessen our for
| eign commerce is met by its steady growth.
| The imports in 1863 were S414, ,256, 243; in
1870 S452, SIS, ,665; in 1871, S51S, 159, SIS. The
| exports in 1869 were S413, ,961, ,115; in 1870,
S499 092, ,113; in 1871 S562 SIS 651, The increase
| of internal commerce is much greater than
! the foreign, and it is now estimated at four
| thousand million dollars.
The falling off in our merchant marine on
the ocean is caused by the substitution Of
1 Nr@vz frNr IL.
| commerce railroads are rapidly taking
| the place OF water navigation. II foreign
| built vessels were admitted to American
| registry both for internal and external COM
| merce at reasonable rate of duty, this
| would not only encourage the building of
| American iron ships, but would secure
| healthy competition in our internal and coast
ing trade now absolutely protected by our
| navigation laws.
| In making reduction of the revenue it
should be done to give the greatest possible
| relief and do the least possible injury to any
| industry fostered by our laws. 1t has been
| conceded that internal taxes should first be re-
| pealed. The worst of these taxes have been
repealed, but their still remain special taxes,
| which make 1t necessary to keep revenue
| officers in every county of the United States.
| These special taxes are on wholesale and re-
| tail dealers in spirits, tobacco, and beer on
banks and bankers, and gas. Many of the
| stamp taxes are imposed on the production
4
are on the sale of property, and on CONNER
cial paper, while all involve the employment
Of multitude of agents for the sale of
stamps. While productive, they are annoy
ing, expensive of collection, and easily
evaded. If the special taxes on spirits, to
bacco, and beer can be consolidated with the
tax now levied on the manufacture of these
articles at the distillery, brewery, and manu-
factory, and the special tax on gas and bank
ers is repealed, We can dispense with the
4 vast nf nffirarS anA
trate the attention and surveillance of the
internal revenue officers to the places where
whisky, tobacco, and beer are made. If we
can dispense with the stamp taxes the whole
system of internal taxes will disappear, ex.
cept excise taxes on whisky, tobacco, and
beer, which, by common consent of both
producer and consumer, are recognized as
peculiar objects of taxation. The taxes on
circulation and deposits of national banks
do not enter our internal revenue system, but
are rather regarded as a fund from which to
pay the expense of printing the notes and
maintaining the system. The excess collect
ed from this tax over these expenses may
properly be regarded as a return payment
for franchise. This tax is collected strict
ly by the Treasurer of the United States, and
should be retained. If it is deemed best tc
retain this tax as against other banks and
bankers, it may be collected in the same way
by the bank examiners.
In advance of any definite measure dealing
|
without committing anyone else, that we car
and ought now to repeal all internal taxes
except on whisky, tobacco, and beer, and tc
consolidate and simplify them. The income
tax expires with the collection of 1871
which, on personal incomes, is assessed dur
ing this month.
Experience will convince the body of oul
people that system of national taxes which
rests the whole burden of taxation on con
sumption, and not q cent on property or in
| is intrin Sicallv nninst ho nv
penses of the national government are large
ly caused by the protection of property, il
is but right to require property to contribute
to their payment. 1t will not do to say thai
each person consumes in proportion to hi.
means. This is not true. Every one mus
, see that the consumption of the rich doe.
! not bear the same relation to the consump
tion of the poor as the income of one does
to the wages of the other. As wealth &C
cumulates this injustice in fundamental case
| of our system will be felt and forced upoI
; the attention of Congress. Then an incom,
: tax carefully adjusted with proper dis
elimination between income from propert,
and income from personal services, and freeC
, from the espionage of our present law, will
2 become a part of our system. If thest
changes in our internal revenue laws ar,
!, made, it will reduce internal taxes thirty-on,
and one-half million dollars, or from on
hundred and twenty-siX million dollar
l to ninety-four million five hundred
taxes will be accompanied by reduction o
our expenditures of not less than sixty-fiv'
t million dollars; and if a new regulation as t
the whisky tax should prove PRACTICABLE
l there Will be a much greater reduction. Thi
e will leave us net boss of revenue of twenty
: nine million dollars, and with a margin o
: 81 900 600 for reduction of the tariff duties
, now briefly consider the measure pro
G posed by the Committee on Finance. In
Y stead ranpaliOU aOtiralv tho Hntfas N,
: coal, salt, tea and coffee, we propose larg
C reduction on them. We reduce the dutie
:, on lumber, rice, lead, and other articles
: The raw products of industry on which pres
o ent duties are excessive are largely added t
. the free list, and we propose a reduction o
d 10 per cent. of the duties on most of the tex
e tile and metallic fabrics. The reduction pro
: posed is 81, ,501 1853, but we may fairly antiC
! ipate the lessening OF the expenses and sue
4 an increase of importation as will reduce tn
I loss to the revenue to S21 100000.
= THE following story is told of Colone
;. Samuel Colt, who, in his lifetime, wa
s sometimes inclined to be trifle pompous
d When he was building dwelling house
t for the workmen employed in his grea
pistol factory, he one day encountered
, boy picking up chips on his grounds
= "What are you doing here?" he asked
i gruff1y. Picking up chips, sir, replied tn
/ youngster, evidently unawed by the grea
: presence. perhaps" exclaimed the col
: onel, drawing himself up with dignity
i ''you don't know who l am. Tn Colone
: Samuel Colt, and l live in that big hous
up yonder" The boy Strengthened u
; and swelled out and answered, "Perhap
:. you don't know who 1 am. Tn Patricl
i Murphy, and l live in that little shant
/ down yonder," pointing in the direction
il Sonny" said the colonel, blandly, pat