The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1881-12-14

these articles, and doubtless Congress
win adopt his suggestion. We OBJ
serve that a portion OF the press OF
the country is advocating the aboli-
ton of all internal revenue taxation,
and Senator Cameron appears to have
taken middle course between these
views, as he has introduced a reso-
luton in the Senate. declaring it ex-
pedient to abolish all internal reye-
nue. taxes except those imposed up
on high wines and spirits.
The receipts from internalreyenue
taxes for the past fiscal year, ended
on the 30th of June last, amounted
to s135, ,229,912 so. If the Presi-
dents recommendation beadopted,
the business interests of the country
viii be relieved and the taxes reduc-
ed 81, 10000, still leaving about
Si24000,000 of revenue. If Senator
Cameron's views prevail the revenue
viii be cut down to s6,00O,090, and
If the taxes be totally repealed, of
course all revenue from internal
taxation viii be wiped out. 1t is
further estimated, that if the present
rate of taxation be continued, the
entire public debt could be paid in
ten years; but however desirable it
may be to totally extinguish the
debt within that time, it is well
argued that this should not be done
at the expense of the business inter-
ests of the country.
The taxes on spirituous and malt
liquors and on tobacco, are taxes on
articles that are luxuries, not neces-
sites, and their reduction or aboli-
ton would in no sense benefit the
manufacturers or producers, the tax
being added to the price Of the pro-
duct and paid by the consumer ex-
perience having shown that the
amount Of the production is not
thereby interfered w whereas that
the taxes which the President sug-
gests should be repealed lie heavily
on the business interests of the
country. 1t is argued further by
those in favor Of a sweeping reduc-
ton or total abolition of these taxes,
that but little more of the public
debt can be speedily paid, as the
majority of the outstanding bonds
do not fall due for a number of
years, are therefore not redeemable,
and that the proceeds of these taxes
would accumulatein the treasury and
induce extrayagant appropriations.
But why not create a sinking fund,
embracing the proceeds of all taxes
that are not required for immediate
use, and thus make provision for
payment of the balance of the debt
as it falls due.
1t is true-and we presume Sena-
tor Cameron had that object Ill
view-that if all or nearly al inter
mai taxes are abolished, the govern
ment must be supported by moneys
derived from duties on imports, and
therefore the necessity for maintain
ing our protective tariff system; but
we are not assured of continuou S
prosperity, and business revulsion
may, and will largely interfere with
the volume of our imports, and q
consequent loss of revenue must en-
sue. If the taxes on those articles
specified by the President are not
required for immediate use, they
viii create a fund for a rainy day,
with which TO meet TIE balance oi
our debt when due, or provide for
the contingency Of a loss of revenue
from imports; the business interests
of the country will not suffer from
their imposition, and our protective
tarif duties need not be interfere d
with. We are therefore decidedly
in favor of the Presidents suggestion
to continue the taxes he specifies.