The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-06-05
Tho Passage OF tho Tariff and TIA
Bill-The Revenue Reduction.

Tho Passage OF tho Tariff and Tax
Bill-The Revenue Reduction.
With that gratitude which accepts half a
loaf as better than no bread, we congratulate
the country on the Tariff bill which, being
reported from the Conference Committee, was
yesterday passed by both branches Of Con-
gress. It provides for reduction Of revenue
in all Of fifty three million dollars
per annum. Like everything in the nature Of
compromise, it will be unsatisfactory to o
great many. Its principal features are an
almost general ten per cent reduction on i'm
port duties, the equalization Of the tobacco
tax at twenty cents per pound, instead of, as
formerly, at sixteen and thirty-two cents the
consolidation of the tax on distilled liquors,
without any actual reduction the abolition of
q number Of stamp taxes, and q considerable
addition Of articles to the import free list.
These changes are all in the right direction,
but at every step through the bill one is met
with triding exceptions and haltings. Next to
the free traders dream, namely, grouping a
few articles on the tariff list OF reduced rates,
the additions to the free list may be taken as q
test of the sincerity Of Congressional inten-
TONS On this point it will be found that
many articles have been excepted which yield
little revenue and do not pay the cost of col
lection. This will be accounted for, as usual,
on the compromise basis, by which support to
one course Of action is purchased by carefully
guarding another. By this means host of
little items were reserved which we must ac-
cept as the price Of the larger concessions.
A most useful reform is that which
abolishes brigade of the vexatious stamp
taxes. These internal revenue nuisances,
which grew up under the war, should have no
shadow of existence in the present prosperous
condition Of the country. They have given
occupation to an army of office-holders whose
return to private life should be the
dearest wish of agonized taxpayers.
1t is, therefore, with joy we record the
fact that between two hundred and seventy
and two hundred and eighty politicians Of
minor note will be enabled to give up as many
collectorships and assessorships, and enter
the ranks Of more ennobling labor,
where their profits may not be so
large, but where they will not be
looked on as public plunderers. This
should console them, and for our part we will
applaud the sacrifice. The stamp tax on fric-
ton matches, which was abolished by the
House, was restored by the Senate, and the
Conference Committee failed to move them
from their obstinate stand. The House clause
making one-third of the custom duties pavable
in legal tender notes was rejected in the Senate
and its rejection confirmed in the Conference
Committee. This is not very surprising, as it
would upset Secretary Boutwell's plans to an
alarming extent as well as making corners
in greenbacks more practicable in Wall street.
The strong point Of the present bill is that
it has paved the way for still further reduc-
ton next year, in spite Of the Pennsylvania
Senator's (ScotD remark yesterday, that he
hoped legislation on the tariff was disposed Of
for several years to come.