The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-12-16
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WASHINGTON, December ID.
Secretary Richardson's Letter on
Increased Taxation.
The following is copy OF the letter
sent by the Secretary of the Treasury
10 the chairman OF the Committee on
Ways and Means on the subject OF IN
creased taxation:
TREASURY DEPARTMENT.
WASHINGTON, December Is, 73.
To the Hon. II. L. Da,csS, Chairman Of
The Committee on Ways and Means,
House of Representatives:
SIR-I have the honor to acknowl-
eig the receipt Of your letter OF this
date, transmitting the views OF the
Committee on Ways and Means, of the
House Of Representatives, and asking
the Secretary Of the Treasury to give
his views in writing, for increased tax
alton, and why he has decided on the
articles named in his commu-
picatiou as the proper objects for
increased taxation, and that he inform
the committee specially as to the ex,
penditures and condition Of the revenue
which render the proposed increase
necessary. In the report which, in ac-
cordauce with law, l had the honor
10 submit 10 Congress l used the follow
ing language "Should there not be
revival in business at an early day, and
an increase in the receipts over those OF
the past two and a half months, addi-
tional m easrres will be required 10 meet
EXPENDITURES. Should such be the case
| recommend additional taxation, judi
ciously laid, so as to be the least bur-
deusome upon the people and business
OF the country, rather than resort to
borrowing money and increasing the
public debt. 1t is on the grounds here
generally stated that l suggested
increased taxation. The receipts from
customs and internal taxes have not
materially increased and it is apparent
no considerable augme otation OF these
receipts is soon to be expected under the
laws now existing. The public debt
was increased by demands which could
not be avoided during the month OF
November, to the extent Of over $4,000.
900, and it is apparent that it will be
increased during the current month by
many millions, while coin receipts are
but little more than sufficient to pay
the interest on the public debt and
other coin expenditures. 1t will
not be prudent to sell gold to increase
the supply OF currency. The current
expenses OF the government have al
ready consumed about $lS,OOO,OOO OF
what has been called the reserve, and
there remains only about $50 900 OOO,
which can be used before the extreme
limit OF the issue OF the United States
notes authorized by lsw is reached
Public credit can only be maintained
by keeping the receipts Of the Treasury
fully up to the expenditures for ordlna-
~ expenses, for interest on the public
debt and for the purchase Of bonds for
the sinking fund to the extent
prescribed by law. 1t is
manifestly the true policy in view OF
the necessity OF maintaining that credit
10 levy taxes SO as to be certain the
required amount will be raised, with
the possibility OF some surpus OF rev.
enue rather than to iacur any risk OF
deficiency, which would make it ueces-
eary TO borrow money and thereby in-
crease the debt. In the selection OF
tea and coffee for taxation, am intlu-
enCed by the consideration that taxes
on these articles are easily collected
and not oppressive to the consumer.
In selecting spirits, tobacco, gas. rail-
way and steamboat receipts, express
insurance and telegraph companies as
subjects of taxation, an governed
prlnci ipally by the reasons expressed by
the Commissioner Of Internal Rev
enue in his letter, already for.
warded to the Committee, in the
following words: AIN selecting sources
for possible taxation, have taken
those that would give the result needed
without material increase in the pres
ent force or any amendments TO the
present system, considering that it is
wise TO get the public revenue with as
little interference as possible with the
general business OF the country, and
that the tax gatherer should greet the
public eyes as rarely as possible
l have presented the bill for increas-
ed taxation to the committee thus
early that the subject may at once be
called to the attention of Congress for
such action at an early day as may be
deemed expedient. 1t should be taken
into account that the effect Of any law
which may be needed to increase taxa
tiou will not fully appear for several
months after its passage, and that in
the apparent disposition among the peo-
pie to reduce expenditures the rules
which may be fixed will not produce
the same amounts Of revenue as would
accrue under different circumstances.
| have the honor 10 be,
Very respectfully,
LSigned WIN. A. RICHARDSON,
Secy. Of the Treasury.
SSrrender or the V.rgInius.
Seeretsry Robeson this morning tele-