The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1881-12-09

view, however, OF the heavy load Of taxation
which our people have already borne, we may
vol consider whether il is not the part OF wis
dom To reduce the revenues, even II We delay
lutte the payment Of the debt IL seems TO
me that the time has arrived when the people
may justly demand some relief from
their present enormous burden and
that by duc economy in the various
branches of the public service this may readily
hc afforded l therefore coucar with the see
Rotary ia recommending tho abolition OF all in
ternal r2yG9ne taNes except those upon tohac-
60 in its various forms, and upon distilled
spirits aHd fermented liquors, aud except also
the special tax upon the manufacturers of aud
dealers iii such articles. The retention of the
latter tax II desirable a. atrording the officers
of the government proper supervision or
these articles for the prevention of
frauds. agree with tho secretary
of the treasury that tho law imposing stamp
tax on matches, proprietary articles, playing
cards and drafts may with propriety be re-
pealed. and the law also by which banks aud
bankers are assessed upon their capital and
deposits There seems To be a general senti-
meat in favor Of this course, aud III the present
condition OF our revenues the tax upon deposits
~ especially unjust Ii was never imposed III
this country until il WAS demanded by the
necessities of war; and never eXacted, be-
hcvc, ia any other country even
Ill its greatest eXigencies. Bankers are
required 10 secure their circulation by
pledssinS, with the treasurer of the United
States, bonds of the general government The
interest On these bonds, which at the time
WAS per cent. is now in most instances gig
PER ceat, and besides, the entire circulation
was originally limited by law, and no increase
was allowable when the existing banks had
practically MONOPOLY of the business There
was the suggestion that FOX the franchise 10
the fayoriuS grantees the government might
very properly exact \ tax on circulation But
Tor years The system has been free and the
amount Of circulation re sula!cd by tho pnblis
demand. The retention of tbs tax has been
suggested as means Of rcmhursing the gov
crnmcut for the expense of printing and fur
ni>hiug the circulating notes IL the tax should
h2 repealed. IT would certainly seem proper to
rcGEirc the national banks Ia pay the amount
OF sucn expense 10 the controller of the cur
rency.
TAN or LIQUOR AND TOBACCO
1t is perhaps doubtful whether the imme-
dia.c reduction OF the scale Of taxation upon
,iQnDr, and tobacco j. advisable, especially in
view of the drain upon the treasury, which
sions 4 comparison, however, of the
amount q: taxes collected under
tie VARYING rates of taxation which
have AZ different times prevailed, suggests the
intimatinp that some reduction may coon be
made without cripping the revenue.
TARIFF REVISION
The tariff laws also need revising, but that
due regard may be paid 10 the conflicting in
icrcsts of our citizens, important changes
vision cannot be IL idG at this session commits
sion such a-w ~ lately approved by The SEN
ate ani ~ BOW recommended. by the secretary
of The treasury woald doubtless tighten the la
burs Of congress whenever the subject shall
Do brought 10 it, consideration.