Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1877-12-12

y" SoNeiillilell. Inc inhabitants or
these islands, having made considerable
progress in Christian civilization. and
me development of trade, are doubt
: ful OF their ability To maintain peace
and independence, without the aid of
some stronger power. The subject is
deemed worthy of respectful attention
and the claims upon our assistance by
tins independent community will care
/ fully be considered
OUR COMMERCIAL RELATIONS.
/ The long commercial depression in
4 the United States has directed attention
to the subject of the possible increase
/ OF our foreign trade, and the methods
Tor Its development, not only with
Europe, but with other countries. and
especially with the states and sovereign
ties of the western hemisphere. In
structlons from the department of
state were issued to the various dipo-
matte and consular officers of the gov
eminent, asking them to devote atten-
ton to the question of methods, bv
which trade between he respective
countries of their official residences
and the United States, could be most
Ijudiciously founded In obedience to
these instructions, examinations and
reports upon this subject have been
made by many of these officers and
transmitted to the departments, and
the same are submitted to the consider
alton of congress.
THE ANNUAL REPORTS OF THE SECRETARY
OF THE TREASURY
on the state Of the finances, presents
important questions for the action of
congress, upon some Of which | have
already remarked. The revenues Of the
government dnring the fiscal year end
Ing June 3Oth, 1877, were 9000, $50
60; the total expenditures for the same
period were S23S, 600 00S.93, leaving
surplus revenue of S30,340, 577 go. This
has substantially supplied the require
ments of the sinking fund for that
year. The estimated revenue of the
current fiscal year are $3.50, 800 900, and
the estimated expenditures for the same
period are 1892. 43O ,643.72 If these
estimates prove to be correct, there will
be surplus revenue of 1913 O69, 356.2 S,
an amount nearly sufficient for the
sinking fund for that year. The esti-
mated revenues for the next fiscal year
are 1868, 100000. 1t appears from the
report that during the last fiscal year
the revenues of the government, com
pared with the previous year, have
largely decreased This decrease,
amounting to the sum Of SIS, 4S1 ,452 "a.
was mainly in custom duties caused
l,. lor fol nH &C ,a
amount of imported dutiable goods,
and partly by the general fall of prices
in the markets and of the productions
of such articles as pay valorem taxes.
While this is felt injurious, the dimnu
ton OF the revenue has been accom-
panied with IA very large increase Of
expectations. The total exports during
the last fiscal year, including coin, has
/ been sos, G37 ,457 and the imports
have been $i92 ,O97 $40, leaving a bal
ance of trade in favor Of the United
States amounting to the sum of $l66,
! 539917, the beneficial effects of which
extend to all branches of business.
| The estimated revenue for the next
fiscal year will impose upon congress
the duty of strictly limiting appropria-
tions, including the requisite sum for
the maintenance of the sinking fund,
within the aggregate estimate of re-
ceipts, while the aggregate of taxes
should not be increased.
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 Il rev.
enue of exceeding So, 100000 and thus
enable congress to repeal multitude
of annoying taxes yielding a 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
been repealed by the substitution of a
tax on tea and coffees. All forms OF in
ternal taxation may be repealed, cx
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-
curing the judgment of experienced
men to ascertain values, and exposing
the revenue to the temptation of fraud.