Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-01-14

surplus in the treasury over and above tx
penditures Of nearly S48, 900 900. When it
is taken into confederation that this revenue
has been poured into the treasury, notwith-
Standing the loss Of AIsace and Lorraine,
Two Of the richest French provinces, the
showing Is a remarkable one, and finds it,
only parallel 10 the surplus reported an
nually in the United States by the secretary
Of the treasury. The prosperity Of France
grows out Of the thrift Of its people, and
what wealth it has Is largely distributed
through the provinces. The lands there
broken up, TO great extent, into small
holdings, titled by peasant proprietors and
their immediate families. They are 50 fru-
gal and industrious that there are very few
Sho have not saved money, and the facilities
offered for the investment OF small sums in
government securities are so eagerly used by
them that subscriptions TO government loans
are always heavily in excess OF the amount
required. Mr.. Leroy Beaulieu, who has re-
Gently written work On this subject, ex-
presses the opinion, and forti6es it by official
statistical tables, that wealth, especially in
France Is gradually getting more evenly dis
tributed, the number OF very rich persons
becoming fewer, while the circumstances Of
those who were poor are steadily improving.
The recuperation Of the United States
since the war between the St ltes has
been equally rapid, and certainly mos,
satisfactory. Unless there be r change
in the collection and disbursement
Of the public revenue the national debt oil
the United States will soon be entirely ex-
tinguished. II SI33,OO0.OOO were paid eff
last year, with the increasing business and
decreasing interest, the same causes will this
year reduce the debt S16O,0O0,OO0, and in
eight years would exterminate the last vesiigs
Of the war debt. But the desire to get rid OF
the war deb. is used as the justification for
an iniquitous tariff which is grinding the
people for the benefit OF capitalists and
monopolists. 1t is true, Washing
ton inveighed against the policy Of
one generation contracting a debt to be
paid by another, but the people are gener-
ally adopting that policy OF selfshness
which found utterance in the expression
that "posterity has done nothing for US and we
should do nothing for posterity." The time
has arrived for the reduction of the public
income. Last year over Sl00,O0O,OC0
went into the national treasury more than !
could be expended with all the extrava-
gance OF the government. The excessive |
and needless burdens upon the industries # |
the people cannot longer be tolerated. The !
country for the past sixteen years-years |
Of thor 81 i 10 al
every branch OF industTy--have made great !
sacrifices in order to reduce the national |
debt. This has been accomplished with |
success that has no parallel in history. The |
total debt has been reduced nearly one-half, |
and the rate OF interest on the remainder |
lessened. Population has
20 increased that there are now thirty per
cent. more people TO bear the burdens of tax
ltion Than there we're at the-close of the war.
With less interest to pay and more people TO
pay 1t, there has been no reduction of the
burden as there ought TO have been, and as
he people demand there shall be. With an
,verfowing treasury, for which there is no
Immediate remote use, there must be an
arIy and thorough revision of our entire
rational revenue system. This is to be an
important question in future elections,
md will disrupt and rearrange parties. The
scent the danger which the in
vitable change threatens, but they cannot
obby through Congress tariff which en-
iches the producer at the expense of the
onsumer. The result of the elections in
Tirginia and the party divisions here in
demonstrates that the people
with any faction which favors
eduction of taxes. And in future elections,
hen it is shown that a protective tariff is
ownright robbery, that it imposes burdens
hich dwarf into insignifcance State taxa
on, the people will rally to the party
hich prefers to protect the taxpayer rather
IAN rich monopolists.