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

80 htAS ANtO 0AaG0y RSt0CtY 6uS tOVOIG6 vi
which have aifeady been communicated
to each House Of Congress In answer "a
their respective resolutions of inquiry.
The beat interests Of both countries
require the maintenance of peace upon
tue border, and the development of com
merce between tho two republics.
1t Is gratifying to add that this tempo
rasy interruptions Of official relation haa
not prevented due attention by the rep.
reSeatatives Of the United States Ia Mex.
ieo 20 tho protection Of American citizens.
60 far ,as practicable. Nor has 1t inter
ii'ered vito the prompt payment of the
arounps due from Mestco 20 the United
States under the treaty Of July 4, 1868,
and tho awaYde Of the joins cGnmission..
While donot anticipate an interruption
Of friendly relations with Mexico, vet
cannot but look with some solicitudo
upon ID continuance Of border disorders
as exposing tho two countries to irrite-
tions OF popular feeling and N chances
e ecsie.,' .ssihieh ere naturally nnfhvnrn-
bio 70 complete amity. / yet must ask
the attention Of Congress to the actual
occurrences on tho border, that che lives
and property Of 6uf citizens may be ade-
quately protected, and peace preserved.
a WORD ABOUT THE DONE.
Another year has passed without bring.
Ing 70 q close the protracted contest be,
tween the Spanish government and the
insurrectioa in the Island Of Cuba. It
IS due 10 The government OF Spain to say
that during the past year it has promptly
disavowed and offered rcparationl for any
une IthoriEed acts Of unduly Jealous sub.
.ordinates, whenever such acts have been
brought to ita attention. Nevertheless.
such occurrences cannot but tend to ex-
'citc feelings Of annoyance, suspicion and
resentment, which are greatly TO be dep.
'recated between the respective snbjects
and citizenS Of two friendly powers.
THE FINANCES.
/, The state Of the finances presents i'm.
'portaut questions for the action of Con.
gress, upon como of which have already
remarked. The revenues Of the govern
ment during the fiscal year ending June
80, 1877, were $3.50 600, ,58662. The total
expenditures for the same period were
S238. CSC, ,0QS. SO. leaving q surplus revenue
of S30, ,340,577.69. This has substantially
supplied the requirements Of the sinking
fund for that year. The estimated reyS
nueso Of the current fiscal year are $780,.
6G0, 900, and the estimated expenditures
for the same period are $685., ,4S0, ,643. "a.
1T these estimates prove to be correct
there will be q surplus revenue of s33,.
l060, ,356.28, an amount nearly sufficient
for she sinking fund for that year. The
lestimated revenues for the next fiscal
year are S269,2b0, COO. It appears from
the report that during the last fiscal year
he revenues of the government compared
with the previous year have largely de-
creased. II isas .,,o. ,,e - ~.
This decrease, .aalountipg to the. sum
;of $l8, ,48l 1924, was mainly in customs
duties, caused partly by large falling
oil in this auiuuh5 uf iiIipSFteu dutiabio
gooda, and partly by the general fall of
prices in the markets of, the production
Of such articles as pay adyalorem taxea.
While this 10 felt injuriously 10 the dim
mutton of the revenue, st has been &C
companied With very large increass of
expectations. The total exports during
the last fiscal year, including coin, have
been s558, 1856, ,457, and the Imports have
been ez92, ,097 $40, leaving balnnce OF
tEede in favor Of The United States
amounting TO the sum of $l66. 6.589, ,9l7,
the beneficial effects of which extend ia
all branches Of business. The estimated
revenue for tho next fiscal year will inn
pose upon Congress the duty of strictly
limiting appropriations, including the
re4uisfte sum for tho maintenance or the
sinking fund within the aggregate esti-
mated receipts, while *he aggregate OF
taxes should not be increased. Amend.
meEts might he G=.a:se &C the revenue LAYS
that would, wiinout diminishing the rev.
enue,, relieve the people from unnecessary
burdens. A tax on tea and coffee is shown
by the experience, not only of our OWE
country but of other countries, TO be easi.
u collected without loss by undervalual
tipn or fraud, ard largely borne in tho
country OF production. A tax of ter
cents q pound on tea and two cents &
pound on coffee would produce revenue
exceeding $12, 2,000, 900, end thus enable
Congress to repeal o multitude of annoy
ing taxes yielding 9 revenue not exceed
ing that sum. The internal revenue ey5
tenn grew ont Of the necessities of tk,
war, and most Of the legislation imposi?;
taxes upon domestic preduets under thi!
System has bean repealed. /.
BY the substitution OF tax on tea s.ntt
coffee, all forms of internal taxation ma,
be repealed, except that on vhiskey, spir
itg,. tobacco and bear. Attention is alst
| called to the necessity of epacting NOR,
vigorous, laws for the protection OF th,
revenue, and for the punishment OF frsud
| and amuggling. This car best be don,
by judieiols provisions that will indus
the disclosure of attempted fraud by un
deryaluation and smuggling. All ,reve
| nue. laws should be simple in their pro
visions and easily understood. So far O
practicable, the rstes of taxation shoult
be Id the form Of specific duties and no
sdyalorem, requiring the Judgment o
| eSpsrt2nced n.cn to ascertain values, aTil
exposing the sevennc to the Temptation
Of fraud. ~, !'"'f.f
III THE lPE3LiC DEBT.
The progress of 'refrnding the rubli
debt has been rapid and satisfactory
Under the contract existing when en-
tsred upon the discharge of the duties 9
my Office, bonds bearing interest ct th
/ rate of'43 per cent. were being rapid
soId, and within three Inuiittiii5 the aEfrI
gate sales Of these bonds had reached th
sum of 500, ,00O, 600! With MY sar .sio
tho Secretary of the Treasury entered Ii
! to lew contract for the sale Of four pc
cent. bonds, and within thirty days aise
the popular subscription for such bond
! vas opened. subscriptions were ha
amounting to 90, ,496, 900, which wer
| paid for within ninety days after the dat
! Of subscription. OK ipet
= BY this process, within but little nor
than one year the annual interest OIL th
public debt was reduced in the sum {
1 $3,776,000. recommend that suitabl
4 f)rtSyigion he made II, enable the naonl