The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-13

| direct direct whisky. tobacco
7o-72 s62 ,24s 245554, 221 s95757354 OF
'72-74 s43s5,975 A 22631s 1O1 543 AGO e. 7a9 l7s
sources in the four years ending as dated were
Is follows:
1871 1874 1873. 1874.
SAB 1913 900 $3.50 69p 900 $113 504 900 Sl02651 600
/ If the foregoing statistics mean anything,
| they demonstrate the more liberal revenue
laws of 1872 did not have the effect of reduc-
| ing the whisky and tobacco tax, as it appears
| that the income from these sources was in
creased by tightening their burdens, contrary
| to the Treasury estimate that they would be
reduced. 1t was estimated in 1872 that the
notifications Of the law would cut down in
ternal revenue receipts by S2OOOO,O00, of
which loss Sc, 773, 0aR was charged to those
articles. The reco shows an actual average
gain of 100000 Oh the contrary, and they
have consequently exceeded the estimate by
about $40. DOC, 600 per annum. Other sources
of internal revenue, are, therefore, chargeable
with the deficit.
1t is not SO much an increase of taxation
for legitimate purposes that those would OBJ
ject to whose capital is embarked in the
whisky interest, but it is the unsettled and
shifting character of the legislation to which
it is subjected. That staple would probably
bear permanent tax of 81 as well as 70c,
and it might be made, perhaps, under strin-
gent regulations honestly administered, to
pay three-fourths of the whole internal reve-
nue.. The evil is in the constant changes which
| alternately enrich some and impoverish others
BY fluctuations which no foresight can antici-
pate.
With tobacco it is different, as that staple
is more dependent upon foreign consump-
ton, and also by reason of the tact that the
respective qualities Of raw and manufactured
tobacco are SO nearly alike that they are avail
able as substitutes for each other This fact
would open the door for extensive frauds
upon the revenue, in case that the relative
cost Of the manufactured article should be
increased very much above the present ratio,
and would to corresponding extent dis
courage and lnjure manufacturers In this
interest also, it is, of course, of prime i'm.
portance to the security of the capital invested
that the tax should be settled and uniform.
The whisky and tobacco markets are of
course greatly excited and prices are little
better than nominal The majority of large
dealers are taking the chances very freely Of
removing goods from bond, as an additional
tax in some form is regarded as a foregone
conclusion.
The New York Coffee Market.
Most Of the past week has been very quiet
in the coffee market. There was a moderate
demand early in the week, but even this fell
off when the dispatches from Washington
announced that the Committee on Ways and
Means had reported adversely on the propo-
sal to restore the duty. The dizziness of trade
which followed the receipt of this news, rem
dered prices for all kinds merely nominal.
The effect was the more marked, from the
fact that it had been considered as almost a
certainty the resumption Of the duty on
coffee would be adopted as one of the
measures least burdensome to the people
Of increasing the revenue. Semi-otfi-
cial authority to the effect that it would
be resumed had been cited, and it was re-
garded as q foregone conclusion that such
would be the case, and that the proposal
would meet with prompt concurrence Of the
Ways and Means Committee when presented
to them. But exactly the reverse has hap
pened, and the effect on the market has been
most demoralizing- sudden change from
certainty to doubt and disbelief on the ques-
ton causing an entire suspension OF trade.
No calculations as to values could be made in
regard to Rio, nor a,y certain quotations
made for West India grades, but that the
market was really lower was an accepted fact,
and prices were reduced one cent.
The fact Of the long delay in taking any
thing like decided action on the matter seems
in consonance with the usual spirit which
prevails at Washington when questions re-
lating 20 either finance or commerce, however
grave or important, are raised, and on the i'm
mediate deciding of which the most vital
trade interests Of the country are involved.
1t has been but another instance of the
amount of consideration entertained in such
emergencies.
The supply of all kinds of coffee here is
very small. though that of Rio has shown an
increase at the outports, especially at Balti-
more Nominal quotations at the opening of
2S63Oc gold for Java and 17J@22c gold for
other descriptions. Daily Bulletin, 9Th inst.