The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-11-23
MONEY nA,TERs.
ApproprIa1ious BY Congress.

Appropriations by COpRretH'
The statement comes from Washington
that the Commissioner Of Internal Rey-
enue, General Raum, will, in his forth
coming report, recommend the repeal OF
the taxes on matches, bank checks, and
proprietary medicines. The national tax
on matches is one cen. per package OF one
hundred or less, and one cent for each ad'
ditional hundred or fractional part there.
Of The revenue derived from this tax is
acout s., 500 600 year. The tax on bank
checks is two cents on every check for $40
or more. The tax on proprietary medi-
cine ranges from one cent on each packet,
box, vial, etc retailed at % cents or less
to four cents per packet retailed at one
dollar, and two cents for each additional
so cents added to the retail price. The
revenue derived from all these taxes to.
gether is about Sc 0OOO 900 a year. The
Commissioner thinks that this revenue is
not needed; and that the taxes ought to
be repealed. He especially fAvors the re-
peal Of the taxes OH matches, on the ground
that they, unlike liquor or tobacco, are
among the neCesssries Of lie.
yhe proposition that the revenue de-
rived from these sources is not needed is
uudenisbIe. During the fiscal year ended
June 80, 1879 the revenue from all sour
ces was 1878 S97, 1888, and the expenditures
were S26U, $40 SS3 There was, therefore,
q surplus Ut oaIy sG,S79 800 TO apply to
the reduction OF the public debt. But
during the last iiacal year the revenues
rose to 1888 500 81, and the expenditures
were S26I, S47 UG7. There was; therefore,
surplus OF 500 67S 974. II the receipts
for the current year should be no greater
than they were last year, still the surplus
would be greater for the reason that the
interes: charge will be lsss. Last year the
interest charge was sos, SIS. This year
It will not exceed SIS, OOO, 900, assuming
that none Of the maturing bonds will be
surplus should, therefore, be between
seventeen and eighteen millions greater
than 1t was last year, on this account
alone. But there ia reason TO believe
that the revenues will be greater, and that
there will be q surplus OF fully one hum
bred millions. This ia a larger surplus
than IL needed. It Is well 10 reduce the
debt, but there Is no necessity Tor reduC.
ingit at this rate. Assuming that $780,
900 900 Of 6 per cent and $4,000 COZ OF
per cents will be- refunded into 81 per
cents or redeemed before the end VI the
next fiscal year, the interest charge will
be sill further reduced in the amount OF
about $l2. 600 900. But more than half OF
this will be consumed the first year in
payment OF double interest, 80 that the
net increase OF surplus on this account
will be something lees than the proceeds
OF the taxes which Commissioner Raum
proposes TO abolish. Still. with these
taxes dropped, it il probable that there
will be a surplus OF more than hundred
millions next year, so that it will be safe
TO abolish or reduce other taxes 1t would
be perfectly sale, 20 far as revenue is con.
cerned, to abolish the taxes on bank cir.
culation aud deposits, as Comptroller
Knox will undoubtedly recommend.
All this, however, il based on the sup.
position that the expenditures will be
kept within bouLdy, but there are hdica.
tons that the expenditures Will be greatly
increased. 1t was recently stated by one
who professed to know whereof be was
speaking, that President Hayes would not
recommend any reduction In taxation in
his forthcoming message, but wonld ur.
gently recommend liberal expenditures
upon internal improvements, especially
upon the improvement Of the Mississippi
river. 1t is well known that very many
Congressman are willing, not TO say eager,
10 secure appropriations Tor improvements
in their respective localities, and there
is much IGBson 10 lear that II the
President offers to share the respon.
sibili,y with them they will not hest.
tate TO vO:e the money. 1t looks now US
though they would be sustained in this
courte by Influential commercial bodies
throughout the Mississippi Valley, and in
other localities where improvements are
wanted at the expense oil the nation. 1t
looks, too, as though they would be sus-
tanned by considerable proportion OF the
national bankers, who are not pleased 10
see tho national debt-the basis Of an i'm
portant branch OF their buainess-in pro.
cess Of rapid extinction. They will Ger.
tainly be sustained ny the GreenbackeTs,
including grOat many people who did
not support Mr.. Weaver during the late
contest Tor the presidency, beCauge they
are In favor Of anything that promises in.
Aation. 1t Is not improbable, therefore,
that we shall witness high carnival Of
lOg.rolling in Washington during the
comirg session Of Congress. 1t Is not i'm.
probable that money will be appropriated
20 lAvlshIy that 1t will not be safe to re.