Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1873-12-19
HmpOrtnmt EcttcP Of tIse Secretary
Ofthc Treasury.

WASHINGTON, dec. 10.
The following letter from the Secretary
of the Treasury is of impSSrFtsncc lpSFt9 ;,.,.-,
II, 1S73-Dedr Sir; have the honor to
acknowledge the receipt Of your letter
of this date transmitting Il resolution OF
the committee of Ways and Means of the
House of Representatives, asking the Secrc-
tary of the Treasury to give his reasons
in writing for an increase of taxation, and
why he has selected the articles named in
his communication as the proper objects
for increased taxation, and that he inform
the committee specifically as TO the GNpendl-
lures and condition ofthe revenue which
renders the pronosed increase necessary.
In the report which, ia accordance with
law, / had the honor recently to submit to
Congress, | used the following Language
"Should there not be Il revival OF business
at an early day, and an increase in the re-
ceipts over those of the past two and half
months, additional means will be required
! to meet expenses. Should such be the case
recommend additional taxation, judicious-
| ly laid, so rs to be the least burdcnsome
| upon the people and business OF the coun-
! try, rather than resort to borrowing mo-
| ney and increasing the public debt. 1t IS
on the ground here generally stated that l
suggested increased taxation. The receipts
materially increased, and it is apparent
| that no considerable augmentation or those
receipts is soon to be expected under the
| laws now existing
| The public debt was increased by de-
! mands which could not be avoided during
| the month of November to the extent of
| over nine million dollars, and 1t Is APPARENT
| that ii will be still further increased during
| the current month by many millions.
| While the current receipts are but little
more than sufficient to pay the interest on
| the public debt and other coin eXpendi-
lures, it will not be prudent to sell gold to
! increase the supply of currency.
The current expenses of the governm cnt
q. have already consumed about eighteen
million dollars of what has been called the
! ''rescrye,' and there remains only about
! twenty-siX millions which can be used be-
fore the extreme limit OF issue Of United
States notes authorized by law can be
reached. The public credit can only be
maintained by keeping the receipts Of the
treasury fully up TO the expenditures for
ordinary expenses, and for interest on the
public debt, and for the purchase OF bonds
for the sinking fund to the extent provided
by law. 1t is maniiestly the true policy,
in view of the necessity of maintaining that
credit, so to levy taxes as to make it GER
! tam that the required amount will be raised
| with the possibility of some surplus re-
| venue, rather to incur any risk OF a deli
cheney, which would make it necessary to
borrow money and thereby increase the
debt
In selecting tea and coffee for taxation
am influenced by the consideration that
taxes on these luXuries are easily collected
and are not oppressive TO the consumers.
In selecting spirits, tobacco, gas, railway
steamboat receipts, express, insurance and
telegraph companies rs subjects of taxa
ton, am governed principally by the rea-
sons expressed by the Commissioner of
Internal revenue in his letter already for
ward to the committee, in the following
words
; In selecting sources for possible taxation
/ have taken those that would give the
revenue probably needed without any ma
torial increase of the present force or any
amendment to the present system, consid-
ering that it is wise to get the public re-
venue with as little interference as possible
with the general business of the country,
and that the tax gatherer should greet the
public eye as rarely as practicable.
I-havo presented the bills for increased
taxation to the committee thus early that
the subject may at once be called to the at
tention of Congress for such action, at an
| early day, as may ne deemed eXpedient.
1t should be taken into account that the
effect of any law whiGh whhii l. n,ay. Pc enacted TO TO
several months after its passage, and that
in the apparent disposition among the peo-
pie to reduce expenditures the rates which
may fixed will not produce the same amount
of revenue as would accrue under different
! circumstances.
have the honor to be, very respectfully,
| WILLIAM A. RICHARDSON, Sec'y.
To Hon. III. l.. Dawos, Chairman of the
Committee of Ways and Means, House Of
Representatives