Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1881-12-13

! year were Sb,fls,JfD.[V, an increase over lHe
preceding year OF $685. ,il00i. Notwithstanding
the increase in the revenue from customs over
the preceding year, the gross value OF the imports,
including free goods decreased over s2j COZ 600.
The money market decrease was, IN the value OF
manufactured wool, Sli.023, Gs2, and In thar Of
scrap and pig iron Sl2,sl0,6il. The value of
imports Of sugar on the other hand, showed in
crease of 81 4j1fIi; OF steel rails, Si,3li, 52l OF
barley. 81, lji.20i: and of steel in bars, iugoi',
etc, 81 G70oi Contnstcd with the imports
during the last fiscal year, the exports were as
follows Domestic merchandise, sSS3. 81. 9E
foreign merchandise, SIS iJ!, 399; total, $780,
81 ,3t6; imports of merchandise. S5iy.6 .625.
excess OF exports over imports OF merchandise,
$3.50, 1l2.1lS; aggregate OF exports and imports,
si,5i5, 0tl,97i.
Compared with the previous year there was
an Increase of of SD, 13S ,6sS In the value of cN
pof;s OF merchandise, and q decrease OF S25, 800,
lis in the value OF imports. The annual aver
age OF cash imports OF merchandise over exports
thereof, Tor ten years, per ton, June 80, 1873,
5lOi sos 81; but for the last six years there
has been an excess OF exports over Imports OF
merchandise amounting 10 81 .lS) GGS.l03, an an
ual average Of 1885, 1S.0lT. The special value OF
the exports Of domestic merchandise was $40
6l6. i13 Ia 1870 and sSSJ. 92j,9H in 1881, an In
crease 81 500, 300 IA, or l3j per cent The val
ne Of imports was si3i.9jS,i0S in 1879, and
S5i2 G5t 62S In lSS an Increase of S206, 1J5 30,
or forty -seycn per cent, during each year from
1867 10 1874 inclusive, the exports OF specie eN-
seeding the imports. The largest excess OF such
exports over Imports was reached during the
year 1854. when u amounted 10 80, 80, by. hat
during the year ended, June 80, 1880, the im-
port, of coin and bullion exceeded the exports los
80. S9l ,3gl, and during the last fiscal year the
excess oi imports over exports was col los, $50.
In the hast annual rvpOr oi the secretary OF the
treasury. the attention OF Congress was called 90
the facts that i69 l0J0 in nyc-Pcrccni. bonds.
and S2hi.J13.1O In >iX-pcr-CcnI. bonds would
lccDmr redcemahlc during the wear and Congress
was, l.kcl Ia authorize .he rcfuudug oithcsc bonds
a, lover rate of Interest. The bill tor such re-
funding having iailSd 60 become u law. the scc-
rctArV at the Treasury gave notice of his intcn-
ton T. redeem The same, aud such a. have
hccu presented have been paid FROM
The surplus revenues. There have also been ~
decruci ~ par sl6.i'9,l@ Of the - per c,uinm
continued bonds. making a total ut bonds Tc-
deemed. ar which have ceased to hear interest,
during The wear, Of l23, 969,"iN. The reduction
Of the annual Interest on the public debt through
these transactions /, a, follows By reduction oi
Interest io "A per CENT. sio,i.3,Sj9.2i; hy re-
dcmptIoa ~ bonds, -Sii ,2jt0o9, totals IL. SO.
?62..aj.
The - Ter ccnium bond. being payable az the
pleasure OF the Government, are available Tor
the investment uf surplus rsvcuuc without the
paynCu, Of premiums.
Cuics, these bonds can ~ funded a, a much
lower rate of Interest than ihry now bear, agrrc
with the sccnrtaTy OF tho treasury that no !cs.,.
laii1n respecting them j. desirable. IL !. mat
ter Tor GENERALIZATION that the bushes, ol The
Country Ia, hccn 80 prosperous during the pas;
wear ., to Weld by taxation = large surplu, ut In
come % the Government. II the revenue law,
remain unchanged ihi. surplus must, year hy
year. incgcasc on account of the reduction ui The
public debt, and is burden OF interest END De-
cause Of the rapid increase OF oar population.
.|..
icrnAl revenue system. Our population hHi
slightly exceeded - 900 600 by the census OF 1850.
IL |, now found tu exceed JOO)O.OlO. and /; Is
estimated that even Il the annual receipts ana cN-
pcndiurcs should continue ~ az present ihr entire
deb, could Dc paid IN ten years. In view. how
ever OF the heavy load 81 taxation which oar
people have already hoynS. We may well consider
Il j. not the part o! wisdom 10 reduce
the revenues even IT we delay liilc The payment
oi the debt
Il seems to me tina, the time Ia, arrived when
thr pcup.r NAV justly demand some relief from
their prc,cu; uncrou, burden. and that by due
economy IN the various branches OF the public
service This may readily be Afforded. /. therefore
concur with the secretary In recommending the
Abolition OF Internal Revenue TateB.
except those upon tobacco IN IT, vlTiou, form,
and upon distilled spirits and icrmcnicd liquor,
aud except also the special tax np0u The manu-
ficiuycr, of and dealer, IN such articles. The re-
,cn,iuu OF the latter Is desirable. a:ouling the /
utccrs OF the Government proper supervision I
U! these ARTICLES, for The prevention Of fraud. /
srce with the secretary of the treasury tia; the
law imposing stamp tax upDl matches, pro- !
pTiciaTy articles PLAYING cards checks aul drafts
mas with propfieiy be repealed, and the Law also /
by which bank. aud bankers are assessed upon /
their capital and deposits. There seem, 90 Oc a /
general sentiment In favor OF this course In the /.
prc,cn, condition OF our revenues the TAX upon I
deposits is especially unjust IL Was never 4
imposed Ia this country until Il was demanded I
by the necessities OF war, and IL Was never I
enacted. believe, In any other country, even IN
is greatest cNigcuces. Banks arr required % 4
secure their circulation by plcdging with the 4
treasurer OF the United States, bonds of the Gen
cral Government. The interest upon those /
bouis, which al the time the tax was imposed 1
was six per cent. j. uOw iu most instances u /
per cent. Besides. the entire circulation MAS
originally limited by law and no increase was a. |
lowed. When the existing banks had practically I
Il monopoly of the business, thert was force ~ 1
the suggestion that for the franchise TO the IA I
Norri grantees the Government might very prop /
cTly exact a tax on circulation; but for year, the
system has been free aud the amount OF CirculA- /
ton regulated by the public demand. The rcicn- 1
ton OF tlIi. tax has been suggested ~ 4 means I
OF rcimbursing the government for the expense /
of printing and furnishing the circulating notes |
IL the tax should Dc repealed, II would certainly /
seem proper 10 require the national banks 10 pay |
the amount OF such expense 10 the comptroller |
OF the currency. II H. perhaps doubtful whether
the immediate reduction of the rate of taxation /
upOn liquors and tobacco j. advisable, especially
tn view OF the drain upon the treasury which |
must attend the paymen, OF arrears oi pensions.
4 comparison. however, of the amount Of taxes
collected under the varying rates of taxation
which have AZ different times prevailed, suggest
the n;imation that some reduction may soon be
made without material diminutiOu Of the reye-
nue.. The tariff laws need revision, but that "A
due regard may be paid 10 the conflicting inter
ests OF oar citizens, Important changes should
lie made with caution. Ii a careful revision can
not be made az this session, commission, such
as WAS lately approved by the Senate and is no.
recommended by the secretary OF the treasury,
would doubtless lighten the labors of Congress
whenever this subject shall be brought 10 Its con-
silcraiion. The report of the secretary of war
will make known the operations OF that depart
ment for the past year. He suggests measures
Tor
Promoting the Efficiency of the Army
without adding 10 the number OF Is officers, and
recommends the legislation necessary TO increase
the number of enlisted men To 5000, the maxi
mum allowed BY law. This he deems necessary
TO maintain quie;ness on our ever-shifting from
tier, 20 preserve peace aud suppress disorder and
marauding in new settlements, 10 protect settlers
and their property against Indians, and Indians
against the encroachments of intruders, and 10
enable peaceable immigrants 10 establish homes
In the most remote parts Of our country. The
army is now necessarily scattered over such a
vast extent of territory, that whenever an out
break occurs. reinforcements must be hurried
from many quarters, over great distances and
always AZ heavy cost for transportation of men,
horses, wagons and supplies. concur in the
recommendations of the secretary for increasing
the number of enlisted men.
While some have escaped. and the majority of
the uibc are now on their reservation, there Is
need OF legislation to prevent treason upon the
lands set apart for the Indians. A large military