The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-02-03
pusLIC DEBT AND REVENUE.

1T appears that there has been an increase
of indebtedness, during the month, of
nearly one million four hundred thousand
dollars, while for the seven months, com
mencing July list, the increase was but
little short of one million dollars. The
worst of 1t Is, that, If the present sources
of revenue continue, this increase of the
public debt must also continue and that
although exceptional months may show
decrease, yet the aggregate of six months
or year will always show balance on
the wrong side. The reason of this in
crease is more apparent than the exact
remedy. Yielding to an almost, If not
quite, unanimous popular demand, Con-
gress has, from time to time, reduced the
rates of duty chargeabe on certain classes
of goods, aud entirely abrogated all duties
on others. This has been true both of
custom duties on foreign importations, and
of those levied on domestic productions or
commodities by the internal revenue law.
To such an extent has this been carried,
thdt We hOW htu Jul - ICN-
enue sufficient to pay our ordinary current
expenses including, of course, the interest
on the public debt. 1t was very COM
mendablc object for Congress to seek to
lessen the burthen of taxation, but II GER
tainly did not display very large degree
of craftsmanship when the result only IN
creases the public debt, and compels the
government to so into the market rs
borrowers it will inevitably be forced
to do unless relief is found otherwise-apd
that, too, without affecting the complaints
of the people relative to the excessive bur-
thcns of taxation. We venture to say that
with all the reductions that have been
made, during the past four or five years,
in this species of taxation, il would be
difficult to find many persons-wc mean
of those who,in the end, pay these taxes
who would be willing to admit, or who hon.
estly believed that he had been in the least
benefited thereby. He might, perhaps, be
convinced that certain classes of goods
were cheaper now than they were five
years ago, but, IL so convinced, he would
be either unable or unwilling to see that he
paid anything less now for the support of
the government than he did then. But,
even, if convinced of this, he would tri-
umphantly reply that he was now taxed to
death and that it was impossible to make
both ends meet. And in all this he would
| be honest
If, however, it is true-and we do not
believe that it is-that the abrogation of
duty on tea ard coffee did not inure to the
| benefit of the consumer, but that the
amount all went into the pockets of suppo-
stious " Dutch merchants, then there
would not be much reason for the people
| to believe that they had been relieved But,
| as we have said, we do not believe any
| such statement, and, moreover, it must be
| patent to every one that many classes of
| goods have greatly fallen in price, that the
market is glutted with tea and that it rules
| at a comparatively low price, and that the
burthen of taxation is thereby lessencd,
| and in the only way that the burthen of in
| direct taxation Can ever be lessened, name
| ly, by a reduction of prices. But this is
| neither here or there, the main question
being how to increase the revenue suffi-
| GENTLY to pay the current expenses of the
| government, pay the interest on the public
debt aud leave balance for the monthly
or yearly reduction of the principal. And
this is not all the revenue required. For if
the resolution to resume specie payments
in 1879 is adhered to, if 1t is to be anything
more than an irredeemable promise, then
additional revenue must be provided SO
that surplus amount of gold may be ac-
cumulating against that day. How shall
thislend be attained How shall an ade-
quate revenue be secured 1t is simple
enough to ask these questions and as SIM
pie to give general answer thereto. 1t is
easy enough to say that the expenditures
| and revenue can be brought into proper re-
lations by additional taxation, or by re-
trenchment, or by a continuation of both
measures. Yes, but in what way Where
shall the retrenchment begin Where
shall more economy be used What arti-
Giles shall be subject to an enhanced taxa
ton These are the practical questions,
and every one, we doubt not, has an an
swer that satisfies himself but when diff.
terent men.. come to compare opinions their
differences ale as divergent as the poles.
Congress seems to be as much at sea in the
matter as are the people. But they are
placed in power for the purpose of acting.
The President and secretary of the treas
ury have performed their whole duty in
the premises. They have repeatedly urged
Congress to act on the subject. They have
pointed out the needs OF the government.
They have, even, pointed out the way.
The messages of the one, and the reports
of the other, supplemented and enforced
as they are by the financial statement are
full, to the point and suggestive of the
exact remedy. If the government becomes
a borrower in the open market, let not the
President or his financial minister be
blamed. Place the blame where it belongs
with Congress and its finance committee.
Political Notes.
| Ii is stated that persons can he found
VnI,a ,taI,t H. To tl.t