The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1881-12-10
From page 81


inp toe redemption or continuance ot S4j3,
S4l $50 ~ ) per cruI bonds then outstanding
ami vt thc>c $40 ,JOi 800 we're continued al o12
per cen. per annuiII, ana S3S, 1866, 400 rrdeemeu
The u pvl reut bond, ui the loan ot FEBRUARY
), 1851, and ut tIr Oregon war ueht amount
ing U.c,hcr 10 Sl4 l25 500, having matureu
duriu4 ,nc year, the Secretary at the treasury
gave notice al his Intention Ia reueem the
sam, ANA such as have been presented nave
betu pad from the surplus revenue. luere
have h,cH redeemed AT par SlO,l'9 loo
OF The So per ccn' continued bonds
max i~s {, total Of bonds redeemed, or
whIca have ceased TO bear interest
est uuIrd daring the year ut Sl23, 1863, go. The
reduct,uI al the annual Interest on the public
debt tnIuush thcse Transactions Is as follows: by
reducri nj Interest To 50 per cent. SlO,4Io,9D2-
81 u, rrticnip tiuu of bonds, $685. $40; total,
SIG So ~ -, The 80 per cent bonds being pay
able u. Inc pleasure Of the government, are avail
Liable Tor tue Investment of surplus revenue with
out the pay meut Of premiums.
Unless THESE uund, can be funded at much
iowvt rate ui interest ,han they now Dear, agree
with the Secretary Of the Treasury that no legls-
iatiou respecting them Is desirable
H. j. HI ttter Tor congra ulalion that the pusl-
aess Of the country has been so prosperous dur
ing III. past wear as To Weld by taxation large
suTplu, income 10 the government. III the reVe-
nur Laws remain unchanged, this surplus mus'
year u, year Increase ON account OF the reduction
of the pIbic de0t and lis burden OF Interest, ana
oeca i-- Of the rapid increase OF our population
In 1850, jn>t prior To the Institution oil our inter
nal rr,r ,,Ir :, stem, our population but slightly
exec, d 80 900, 900 By The census Of 1880 it is
now lut,ld no exceed $1,000 600. 1t Is estimated
that cycu II the annual receipts ana eXpenul.
lures should continue as ut present, the entire
debt could bc paid In zen years. In vlew, move
yer, Of the heavy load of taxation which our peo-
pie have borne, we may we'll consider whether il
is not III; part Of wisdom 10 reduce the revenue,
even it Ne delay little the payment OF the DEBT
II seem. To me that the time has arrived when
the people may justly demand some relief from
.heir present enormous burden, and that by due
eco iun, in the various branches of the public
servr. th,- may be readily afforded. therefore
coDcur with the Secretary in recommending the
ABOLITION OF ALL INTERNAL REVENUE TAXES,
except those upon tobacco In Its various forms
and upon distilled spirits ana feTmented liquors,
except also the special tax upon the manuiactu-
rers Of and dealers in such articles. The inten-
ton # latter tax Ia desirable Us ailordng the OIL
GERS OF the government u proper supervision OF
these articles for the prevention Of fraud. 1
agree With the Secretary Of the Treasury that the
law impusing q stamp TAX upon matches, proprl-
etary articles, playing cards, checks ana drafts
may with propriety be repealed, and the law also
by which banks and bankers are assessed upon
their capital aud deposits There seems to be a
general seuttr,ent in favor Of this course. In the
present condition Of our revenues the tax upon
the deposits ia especially unjust. 1t was never
impO -cd IN this country until 1t was demanded
by the ties Of war, and was never exacted,
believe, ia any other country, even in its great
est ext scnce1. Biukers arc required TO secure
their circulation bv plt d ting with the Treasurer
OF the Z ited States bonds Of the general govern
ment. the interest upon these bonds, which al
the tim, the tax was imposed was per cent, Is
now In III at Instances 81 per cent, and besides,
the en- ire circulation was originally limited by
law nnd M increase was allowable. When the
existing bank. had practically monopoly Of the
bushes, there wa> force IN the suggestion that
for tn. franchise to the favored grantees the 60
vernment might very properly exact tax on cir
culation; but for years the system has been free
and the amount Of circulation regulated by the
public demand. The retention OF this tax has
been suk sested as a means of reimbursins the
government for the expense of printing and fur
nishing the circulating notes. II the tax should
be repealed IL would certainly be proper to re
quire the national banks to pay the amount oil
such expense u The Comp troller OF the currency
II is perhaps doubtful whether the immediate re
ductiun Of III rate OF
TAXATION UPON LIQUORS AND TOBACCO
is advisable. III view of the drain upon the Trea
sury which must attend the payment OF arrears
of peneluus, II comparison, however, OF the am
cunt vi taxes collected under the varying rates
of taxation which have ut different times prevail
led Suggests the .ntimaton that some reduction
may Soon ue made without dminutioT OF the re
venue.
The TARIFF LAWS
also need res siUu. but (nat q due regard may b,
paid To Tie conflicting interests Of our citizens
important changes .nould be Uade with caution
II u careful IcvslOA cannot be made at this ses
sloD, u commission, such as was lately approved
by the Senate aud 10 now recommended by thu
Secretary vi LIE Treasury, would doubtless light
en- the iaUors Of Congress whenever this sUbjec
should be Drought To rs consideration.
SECRETARY OF WAR.
The accompanying report of the Secretary o
War viii make known the operations OF that de
parCmcn for the past year. He suggests mes
cares for promoting the efficiency Of the arm!
by adding To TIVE number of its officers, and re
commends tb3 legislation necessary to increase
the nunucr of enlisted men to 10000, the maxi
mum allowed by law. This he deems neces sary
TO maintain quietness on our ever-shlfting iron
tier, to preserve peace and suppress disorder anC
maraudiug IN the new settlements; to protec
settleT5 and their property against Indians, snC
indians against the encrOachments of intruder5
and to enable peaceable immigrants to establish
homes in tue most remote parts of our country
The army is now necessarily scattered over such
q vast extent Of territory, that whenever an out
break occurs, renforcements must be hurried
from mary quarters over great distances, and
always al heavy cost for transportation OF me o
horses, wagons and supplies | concur in the re
commentator OF the Secretary for increasing
the army To the strength Of 5000 Unlisted men
1t appears by the Secretary's report that In the
absence of disturbances on the frontier, the
troops have been actively employed in collectin 9
Indians hitherto hostile and locating them OF
their proper reservations that Sitting Bull an:
his adherents are now prisoners at Fort Randall
that the CteS have been moved to their heW re
servation in Utah; that during the recent out
break Of the Apaches it was necessary to rein
force the garrison in Arizona by troops with
drawn from New Mexico, and that some Apachet
are now held prisoners for trial, while some hav,
escaped and the majority of the tribe are now OF
their reservations. There is need of legislation
to prevent intrusion upon the lands set apart fo
the Indians. A large military force, at great ex
pense, is required to patrol the boundary lint
Set yeen Kansas and the Indian Territory Tn,
only punishment that at present can be inflicted
is the forcible removal of the intruder and tn,
imposition of a pecuniary fine which, in most ca
ses, it Is impossible to collect. There should b.
penalty by Imprisonment in such cases.
SIGNAL SERVICE
The separate organization of the Signal Ser