The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-12-13

AND the awards OF tne JOINT COMMISSION
While I doinot anticipate an interruption
offriendly. relations with Mexico, yet
cannot but look with some solicitude
upon continuance of border disorders
as exposing the two countries to irrita-
tions of popular feeling and rnischances
of action, which are naturally unfavora-
BILE to complete amity. ]; yet must ask
the attention of. Congress to the actual
occurrences on the border, that the lives
and property Of our citizens may be ade-
quately protected, and peace preserved.
- ;AiwoRDi ABOUT THE DoNs..
Another year has passed without bring
ing to close the protracted contest be-
tween the Spanish government, and the
iinsurrection in the island Of Cuba. It
is due to CHE. government Of Spain to say
that during the past year it has promptly
dissvowed and offered reparation for any
unauthorized acts of unduly Jealous sub.
ordinates, whenever such acts have been
brought to its. attention. Nevertheless,
such occurrences cannot but tend to ex-
cite feelings Of annoyance, suspicion and
resentment, ghich are greatly to be dep
irecated between the respective subjects
and citizens of' two friendly powers. :.
80 i'"Ai THE FINANCES. :.
The state;of the finances presents im-
!portaut questions for the action. of Con-
gress, upon some of which / have already
remarked. The revenues of the govern
Iment during the fiscal year ending June
80, 1877, were $269, ,000, ,5S6.62. Thetotaf
expenditures for the same period were
$238, $50, ,008. 81, leaving a surplus revenue
iof $50 ,340, 81. SO. This has substantially,
supplied the requirements of the sinking
fund for that year. The estimated 'reve-
Innesiof the current fiscal year are $685.
500, 900, and the estimated expenditures
for the same period are S232, ,4SO, ,643.72.
If these estimates prove to be correct
there will be surplus revenue Of $685.
|G69, ,S56.2S an amount nearly sufficient
for he.sinking fund for that year. The
estimated. revenues for the next fiscal
year, are S269, ,250,000. Il appears from
the report that during the last fiscal year
the revenues Of the government compared
with the previous year have largely de-
creased. ID .r.G :. - i5qS:t;a ,.7l.:3Fi -
This decrease, amounting to the sum
of $18, ,481 ,452.54, was mainly in customs
duties, caused partly by a large falling
Hiin the amount of imported dutiable
goods, and partly by the general fall lot
prices in the markets of the, production
Of such articles as pay ad!yalorem taxes,
While this is felt injuriously in the dim
mutton of the revenue; it has been ac-
companied with q very large increase OF
expectations. The total exports during
the last fiscal year, including coin, have
been $685., ,655, ,457, and the imports have
been 1896, ,0N $40; leaving q .balahce OF
trade ms favor Of the United States
amounting to the sum of $166, ,539, 917, 7,
the beneficial effects of which extend TO
all branches Of business. The estimated
revenue for the next fiscal year within.
pose upon Congress the duty of strictly
limiting appropriations, including the
requisite sum for the maintenance of the
sinking fund within the aggregate esti::
mated receipts, while the aggregate Of
taxes should not be increased. Amend
ments might be made TO the revenue laws
that would without diminishing the rev.
enue,, relieve the people from ecessary
burdens. a tax on tea and coffee is shown
BY the experience, not only of our own
6ounkybut of other countries, to be easi-
lyicallectedwithout loss by undervalna:
tion or fraud, and largely borne in the
country Of production; A tax OF ten
cents a pound on tea and two cents
pound on coffee would produce revenue
exceeding $12, ,000, 900, and thus enable
Congress to repeal a multitude of annoy
ing taxes yielding revenue not exceed,
ing that sum. The internal al'revenue. sys-
tenn grew out of the necessities of the
war, and most Of the legislation imposing
taxes upon domestic products under this
system has been repealed. -, ;,
By the substitution of tax on tea and
coffee, all>forms of internal taxation may
be repealed, except that on whiskey, spir.
its, tobacco and beer. Attention is also
called to the necessity of enacting more
vigorous, laws for the protection OF the
revenue, and for the punishment Of frauds
and smuggling. This can best be done
by judicions provisions that will induce
the disclosure of attempted fraud by un-
LIBERALIZATION and smuggling. All reve.
nue. laws should be simple in their pro-
visions and easily understood. So far as
practicable, the rates of taxation should
be III the form Of specific duties and moi
advalorem, requiring the Judgment o.
experienced men to ascertain values, and
exposing the revenue to the temptation
of fraud.
THE PUBLIC DEBT. 4
The progress of refunding the public
debt has been rapid and satisfactory
Under the contract existing when en-.
tered upon the discharge of the duties o.
my office, bonds bearing interest at the
rate of Al per cent. were being rapidly
sold, and within three months the aggre-
gate sales of these bonds had reached the
sum of 5000, 100000. With my sanction
the Secretary of the Treasury entered in
to q new contract for the sale of four pei
cent. bonds, and within thirty days aftel
the popular subscription Tor such bond!
was opened, subscriptions were hae
amounting to S75, ,496, 800, which were
paid for within ninety days after the date
of subscription. , .
: By this process, within but little more
than one year the annual interest on tht
public debt was reduced in the sum o.
1915, 900. I recommend that suitable
provision be made to enable the people
to easily convert their savings into gov.
ernment securities as the best mode il
which small savings may be well secured
and yield modest interest. 1t is an OBJ
ject of public policy TO- retain among o1l
own people the securities ofthe United
States. In this way our country is guard
ed against their sudden return from
foreign countries, caused by war or Other
disturbances beyond our limits.
-, THE ARMY. ,.,s...i 49,,
{. The. report of the Secretary of Wa
shows that the army has been actively
employed during she gear, and. has rem
dered very important service in suppress
inn boet;litioa In the Indian country anC