New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-12-07

/ reached
ing the year 1864, when IL amounted $92, 2s0S29,
But during year ended June 80 1880 the imports of
coin and bullion exceeded the exports thereof by $75,
s9l 391 and during last fiscal year excess OF inn
ports exports &91, 16S,650.
condition Of many branches Of trade That condition
has materially changed since the enactment OF the arf
to of the articles imported The specific duties Inn
posed by that act for instance on iron and steel In their
loren duties imposed on the articles from
those metals but by large reduction IN the values
the specific duty imposed thereon now
amounts, In many cases, to an al ya,orem
duties manufactured articles have not been changed
The growing demands Of trade have led also, TO the i'm
tons not enumerated in the tariff and the great dispro
portion between the specific and al vaorem duties Is
chsndise under nd valorem rate. This produces
Certainty appeals from the action OF collectors and
Htgauon which prove embarrassing to business inter-
ests as well to the Government; and, what is In
sanced as the case With iron and steel will be found to
cation Of the tariff, and a silDphncation
far sSeR revision shall Involve arc reduction Of tbs
tariff is the province OF Congress 10 determine In
in the province Of Congress determine The method
of commission, which mas been proposed, has some
leading of the manufacture agriculture
and commerce of the countryexperts In tho subject
out hampering formates and intent upon one subject,
to the consideration OF which tie members
experience. should be able TO frame tariff
law that would equalize its burdens benefits ana
give reasonable degree OF satisfaction to varied in
terests affected by IT. 1t sometimes objected that TO
wait for the passage OF law creating commlsson ana
for the azaOn OF it, and for the result of It's delb-
erations would delay the action OF Congress too long
to be considered whether there might lot be such
limitations OF time put upon the life OF the commission
would preclude sucha result IL conceded hat the in
tar affects numerous and 80 diverse
that extensive ana minute knowledge Is needed 20 treaC
the subject fairly aud Complementary. not there
FORE worthy Of whether the country cannot
afford the proper length or time for 5kllIu JudciOus
and complete rhulng of bill Should exlgenoies exist
arise calling for immediate legislation upon Particular
matters they could he treated specifically for the time
while awaiting the complete and eOnprelenstVe systeIn
Attention is invited 10 tie report OF this Departmeno
for 1850 in regard the repeal OF the discriminating
duties imposed by section 2,5Ol Of the Revised Statutes
especially and coffee produced in the possessions
of the Netherlands, and the recommendation therein
It's matter OF graduation that the business Of the
country thrves 10 endure the oneTous taxation
that upon it, ana yet grow volume and apparently
in profits and yield the Government surplus over ts
needs The result upon the public revenue Il 10
this Department ia dspOsng OF the surplus Ia lawful
way and with regard 70 economy While it Is asserted
that there sJFEcncy the money market, and that
the business community in straits, the call OF this De-
partment millions Oh bonds Is slowly Needed and It's
Offer purchase bonds II not In full accepted There Is
another way which to dispose OF the surplus namely,
the and buy bonds at the current rates.
Calculations experts show that at the premium that
rules the four and four and onehan per cent
bonds this could not be done without loss t. tine Treas
ury, which il OF doubtful prOpriety 10 make, and
it is almost certain that an announcement of q
of those bonds Meanwhile the daily receipts from the
community by the Treasury continue, the surplus over
It's needs increases and money lies idle. Ii seems tnat
plan giving rehef Is TO reduce taxation
and thereby diminish receipts and surplus
REDUCTION OF TAXATION DISCUSSED.
The rapid reduction Of the public debt and the increase
of the surplus in the Treasury present the question TO
Congress whether there should not be reduction in the
taxation now put upon the people, 1t is estimated that
the present ratio Of receipts and expenditure IL kept
up, the public debt existing may be paid in the
next ten years In view OF the large sum that mas Deee
paid by the present generation upon tat deO ana OF
heavy taxation that now bears upon the industries
aud business Of he country II seems Just anu proper
that another generation should meet portion OF the
debt that the burdens now laid upon the country
should be igened IL IL TO be considered 100 whether
the seeming aluence oI the treasury does LOT PROVOKE
to expenditure larger in amount than Wise economy
would permit ara upon Goect7 that w0 ut NOT
dition of the Federal eXchequer In some quarters
TSTs and projects are put forth for lavish tSpend
tlre not only to the furtherance OF public works OF
doubtful legitimacy and expedency but in aid Of enter-
prises no more than quasi public IN eharacteI' Can
Government be Justly sad TO have an oyerowg Treas
than 1t could pay II lt"tuy presented anu Wnen I,s
means payment in the future must be taken from its
exercise OF power to raise money by taxa
greater than the lawful demands upon the
Government required when those demands are OF them
selves heavy burden upon the industry and business
other considerations have been presented, such that,
II the public debt be fully paid and all Government
bonds retired the oest and safest basis Tor the National
III, viii he taken away ana thar tha
return OF the large paid TO the holders bonds to-
seek reinvestment through other channels, win
disturb tie business Of the country. 1t
is doubtful whether in Go,oTnmens
like ours designed for pateTnal these viii be-
held as sufficient reasons for keeping foot large pub
lie debt requiring for the management Of II and Tor the
collection the revenue TO meet the interest upon it
many officials and large expense.
II is proper to say that there is formidable matter to-
De weighed the other hand. Ine Commissioner Of
Pensions il is understood makes known the need OF
large SUNS the Of pensions claims
allowed and likely 10 he allowed by him He puts the
figures at $3.50 100000. Besides this, he mas furnished
IN fhis Department an estimate based upon the facts
found the records Of his Office which gives these data
Number Of claims November !, 7S9063
Number Of claim. ntted to November 1881 45oet9
0er /, ISL 1889
Total 7Ss.O63
r p"'D'a a is ''''''- 227.O4o
aTGfaI' Of war claims o cntiticdi pendn $50 1851
Number 1912 clau4s (not entitled pending lSoa
265,575l
He estimates that the average value the first day
of January 1851, Of each claim allowed out Of thei
class OF 22 0lO above shown viii be 1880 that
the probable allowances out OF that class VIII be $4,000
This Department Is not OF any other matter
will materially increase the needtl expenditures Of tue
If is then for Congress determine whether there
shall he reduction OF the derived from taxa
ton II 1t snail, It will be important 10 know how it
pc ,sHsne shows to be 81 for the
year that ended Jnue30 ISL and that was IN excess
OF the preceding year ~ Sll 253Oll 30 large part
OF this was spirits tobacco and feImened liquors
The tax on those articles tax onappette orndugence
legitimate subjects OF tlNauon when taSauoh Is need
mi reduction OF that tax Is not recommended Other
objects from which internal revenue Is de-
rived the stamps on BANK ehccEs and
matches The former ia tax on business.
somewhat irritating and hamperipg IN its nature.
The latter is tax oil article OF hourly aud necessary
Consumption by all classes 1t is urged by some that
The abolition the stampaX on matches would not re-
duce the price Of article 10 the consumer That
tenop does not seem well founded when the cost OF the
stnnp Is in 40 large ratio to the cost OF the article
Slammed and when tue economy Of purchasing stamps
i'm large quantities gives capital advantage in the
manufacture OF the article. There Is also
the duty derived from proprietary stamps.
An abolition of the revenue from these three sources
would be an eaual esseTng Of burdens. The tax the
euos In National banks and upon their capital in the
igment the Department, may with propriey and
be essenei entirely removed whenever 10
determined that the public revenue exceeds the pub
lie needs The circulation is different in its
ture IL is tax on franchise OF profit 10 the favored
grantee and upon subject In the furnishing OF which
10 the National banks the Government is at an expense
-. 5000 unhil N