Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1877-12-12
eeipts, while the aggregate of taxes
should not be increased.
THE REVENUE.


THE REVENUE.
Amendments might be made to the
revenue laws that would, without di
minishing the revenue. relieve the peo-
pie from unnecessary burdens. A tax
on tea and coffee is shown by the ex-
perience, not only of our own country,
but of other countries. to be easily col
lected without loss by under valuation
or fraud, and largely borne in the coun-
try of production A tax of ten cents
pound on tea, and two cents per
pound on coffee, would produce rev.
enue of exceeding So, 900, 900, and thus
enable congress to repeal a multitude
of annoying taxes yielding revenue
of not exceeding that sum. The inter-
nal revenue system grew out of the ne
cessities of the war, and most of the
legislation imposing taxes upon domes-
tic products under this system, has
beer repealed by the substitution of a
tax on tea and coffees. All forms of in
ternal taxation may be repealed, ex
cept that on whisky, spirits, 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. All revenue laws should be
simple in their provisions and easily
understood. So far as practicable, rates
of taxation should be in the form of
specific duties, and not advalorem, re-
quiring the judgment of experienced
men to ascertain values, and exposing
the revenue to the temptation of fraud
CUSTOM FRAUDS.
NY attention has been called, during
the recess of congress, to abuses exist
ing in the collection of the customs, and
strenuous efforts have been made for
their correction by executive orders
The recomm endation submitted to the
secretary of the treasury by a commits
sion appointed to examine into the col
lection of custom duties at the port of
New York, contains many suggestions
for the modification of the customs
laws, to which the attention of congress
Is invited.
THE PUBLIC FAITH.
1t is matter of congratulation, that
Notwithstanding the severe burdens
caused by the war, the public faith with
all creditors has been preserved, and as
the result of this policy, the public
credit has continuously advanced, and
our public securities are regarded with
the highest favor in the markets of the
world. [ trust that no act of the gov
eminent viii cast shadow upon its
credit The progress of reflnding the
public debt has been rapid and salts
factory. Under the contract existing
when [ entered upon the discharge of
the duties of my office, bonds bearing
interest at the rate of four and half
per cent. were being rapidly sold, and
within three months the aggregate sales
of these bonds had reached the sum of
two hundred million dollars. With my
sanction, the secretary of the treasury
entered into a new contract for the sale
Of four per cents, and within thirty
days after the popular subscription for
such bonds was opened, subscriptions
were had amounting to So, 496, $50,
which were paid for within 80 days after
the date of subscription. By this pro-
cess, within but little more than one
year, the annual interest on the public
debt was reduced IN the sum of S3,775,-
600.
A SAVINGS BOND.
recommend that suitable provision
be made to enable the people to easily
convert their savings into government
securities as the best mode in which
small savings may be well secured and
yield moderate interest. It is an OBJ
ject for public policy to retain among
our own people the securities Of the
United States. In this way our country
is guarded against their sudden return
from foreign countries, caused by war
or other disturbances beyond our limits.
The COMMERCE OF THE UNITED STATES
with foreign countries, and especially
the export of domestic productions, has
of late years largely increased, but the
greater portion of this trade is con-
Quoted in foreign vessels. The import
ance of charging our foreign trade, and
especially by the direct and speedy in
terchange with countries on this CONT
nent, cannot be o+erestimated, and it is
a matter of great moment that our
shipping interest should receive to the
utmost practical extent the benefit of
our commerce with other lands. These
considerations are forcibly urged by all
the large commercial cities Of the coun-
try and public attention IS generally
well and wisely attracted to the solution
of the problems they present. It is not
doubted that congress will take them up
in the broadcast spirit of liberality and
respond to the public demand, by prac-
ticable legislation upon this subject.
THE REPORT OF THE SECRETARY OF WAR
shows that the army has been actively
employed during the year and has
rendered very important service in re-
pressing hostilities in the Indian country
and preserving peace and protecting
life and property In the interior as
we'll as along the Mexican border and
an arduous campaign has been prosecut-
ed with final, complete success against
a portion of the Nez Perzes tribe of
Indians A full account of this cam
paign will be found in the report of the
general of the army. It will be seen
that in its course several battles were
fought in which number of gallant
officers and men lost their lives. JOIN
with the secretary of war and the gen
praI of the army in AWARDING to the Of