, 1877-12-11

PLACES where money was to be tnent-or .tolen. II
the no7tsnmtnt will cnn,pel II. Incorporated debt.
huatnes.-1,ke care The immense ineome now re.
eeMea, nnmeF9ns n", snd va. improvement. es be
ss IL ssoo' atasf e,s sGHs aa+ Fo
Another blow is to be str1ek at tho ex-
port trads Of New York By the diversion Of grain
nool ay Wv Of nav uf'sans. Tho Illino. Central
Orleans L Lirerpoo{ s.esm.ap Linz b. whsch e1si,
can b carried from Chlcaso to New Orleans At 10
cents per hundred; sna to Liverpool II 70 een,a
The relative superiority Of New York i. port Of
sp,,y = ~ 20 ash IT. tns eopss
iermtnai facilities, ind the petty extott,ons 10
splrtt, -.Stv Yort 7,mss " '- VI '''''
The most remarkable feature OF the pres.
dents mtssa9e. We think. IL ihe COO! imnudcncs
witn when Mf; Hayes. after defending hsn'er It
cofnred men Of The South fhe Governmental pro.
lection ~h'eh had before been alws,. extended 70
;hs eonsrY hs tep ioeg atat 10 1ns ha
heart IL and that It is h!a 10 use tbe
moi power as Tie eonmsnd Of The Executive fur
Such assurance Il more Than wonderful il tin.
ti.t.stfviee Reform: :-snts exploded hamnua. :
y
derttand*, however. that nothing that y sald On
ibis tople II eveT carried out IN practice the Prrr
euurse ysrr ahort,-La(ayssis liod.j Josroal
tRtp.).
In his mesasge President Hayes evinces
great alarm 1cas Congress. BY remnnetzine the Ill
YER dollar md making II legat.tendef fos ait
Of ylrtnsl repuafation and thus undermine The
credit nf tho stlon. rtsetng uyer the Nnetston II
TO whether the restoration Of a coin which q
Inf$Al $hRn fkM Hnhf
Would ds "repadi..lon IN aay SEM senss ii he word,
=. vel - tie taet q the inevitable appreciation
oa e. 10 sos one nha
show how ione woald tske the mint, q sas Enitcd
states; coming Al tne rate Of g. ooo. 600 10
tie Inland BILL fatntah *olnms q silver cur.
eonnt tie inevitable demand Tor Silver 10 supply
Ss % ssn o. H. ~ Il
the eornss5. III. sa'et sAy shst should the l'e.
sumption act 60 into eject; ercry dollar Of s,lveF
likely T. be coined within the asxt t%o Years would
spriaatfa sySS% tH u Joup@al aDts tp' 'o'
There are radical objections to any income
tax. The collection Of hnch tax Involves degree
Of eepionssc and inaq!ettion which -. 10 say inc
lated to hrinK oclnsn on the Government In
Europe. where in1uirtterai processes are mneh
fee0fted 10. ana Where Cofcfhuents t0 moi ain 4t
popularity. income tAxes are rcfy cNnnlun, and
Yield large revenues: bat the conditions nre re.v
different In this country. Another Kttat objection
10 them + that they arc prolific souece VI trnud
s9s s4asy CO.. s ..s,,cT 81
a 1ctnrn Of bis income, snd with the
loose tdeas which generally prevail In erclI mat.
ters, false returns viii the rule rather than the
exception. II Mr.. 1IsyTison's bill ahould become
a law. We nrpsehend there won1d be rrecioua few
men In the United Rtates who would not be nb1c to
fkufe she!r not Incomes be'ow ~, 600 ifrretop.
mrnth made durn1 the la+t Presidential cnnps!cu
showed that even great tefofuer like T1iden
to making the most outragcourly falae returns Of
hl- taxabIa income for the purpose at leftauafng
Tho Government. The FACT ts. auth 4 law IN i
II IN Increased revenue ts needed, the Government
should resoEt 10 othsr measures -IHdtdadPofs
journal {FSp.l.