Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1881-12-10

people may Justly demand some relief
from their present onerouS burden,
and that by due economy in the
various branches of the public SER
vice this may readily be afforded, l
therefore concur with the Secretary
in recommending the abolition of all
internal revenue taxes except those
upon tobacco, in its various forms,
and upon distilled spirits and fer
mented liquors; and except also the
special tax upon the manufacturers
of and dealers in such articles. The
retention Of the latter tax is desirable
as affording the officers of the gov
eminent a proper supervision of these
articles for the prevention of fraud.
| agree with the Secretary of the
Treasury, that the law imposing a
stamp tax on matches, proprietary
articles, playing cards, checks and
drafts may with propriety be repealed
and the law also by which bankSan
bankers are assessed upon their CAPT.
tai and deposits. There seems to be
a general sentiment in favor of this
course.
In the present condition of our rev.
enues the tax upon deposits is espe-
cially unjust. 1t was never imposed
in this country until it was demand
ed by the necessities Of war, and was
never eXacted, / believe, in any other
country, even in it's greatest exigen-
cies. Banks are required to secure
their circulation by pledging with
the Treasurer of the United States
bonds of the general government.
The interest upon these bonds, which
at the time when the tax was impos-
ed was q per cent, is nov in most
instances 3 IL per cent; besides, the
entire circulation was originally linn
tied by law, and no increase was al
lowable. When the existing banks
had practically a monopoly of the
business, there was force in the sug-
gestion that for the franchise to the
favored grantees the government
might very properly exact a tax on
circulation, but for years the system
has been free, and the amount of cir
culatlon regulated by the public de-
mand. The retention of this tax has
been suggested as a means of reim-
bnrsing the government for the ex-
pense OF printing and furnishing the
circulating notes. If the tax should
be repealed, it certainly would seem
proper to require the national banks
to pay the amount OF such expense to
the Comptroller of the Currency. 1t
is perhaps doubtful whether the inn
mediate reduction of the rate of tax
alton upon liquors and tobacco is
advisable, especially in view of the
drain upon the Treasury which must
attend the payment Of arrears of PEN
sions. A comparison, however, of
the amount of taxes collected under
the varying rates of taxation which
have at different times prevailed sug-
gests the intimation that some re-
ductlon may soon be made without
material diminution of the revenue.
The tariff laws also need revision,
but that a due regard may be paid to
the conflicting interests Of our citi-
Zens, important changes should be
made with caution. If a careful re-
vision cannot be made at this session,
a commission, such as was lately APP
proved by the Senate, and is now
recommended by the Secretary of the
Treasury, would doubtless tighten
the labors OF Congress whenever this
subject shall be brought to it's con-
sideration.
In referring to tie extravagant
pensions, the President gives some
data in regard to the enormous
amount Of work imposed upon the
PENSION bureau, and suggests, as a
measure of justice as we'll as econo-
my, such an increase of the clerical
force of the bureau as will expedite
the settlement of claims already too
long delayed.
He reviews the War and Navy De-
partments, and Gen. Sherman's re-
communication in favor Of increasing
the army to 10000 men is approved,
and Thorough rehabilitation of the
navy" urged upon every considera-
ton of national safety, economy and
honor"
The necessity for some modiica-
tion of the judicial system of the
United States, in view of the great
increase in the volume of business in
the Federal courts, and especially for
the relief of the Supreme Court,
which is overburdened with cases, is
recognized and urged upon the at
tention of Congress.
Indian affairs are treated at some
length, and the Presidents recon-
mendations in relation thereto sum
ed up under three heads First, the
passage of an act extending over the
Indians and Indian reservations the