Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1882-12-07
THE REDUCTION oFsEyESUEs


Yeu cannot fail TO note with interest the dis
cussion by the secretary as to the necessity of
providing by legislation soma mode Of freeing
the treasury of an excess of assets in he event
that congress fails to reach an early agreement
for the reduction of taxation. l hereby approve
the secretary's recommendation Of an i'm mediate
and extensive reduction IN the annual revenues OF
the government. 1t will be remembered that
urged upen congress at its last session the i'm.
portance of relieving the industry and enterprise
OF the country from the pressure of unnecessary
taxation. 1t is of the truest maxms of poht-
ical economy that all taxes burdensome
however wisely and prudently imposed and
though there have always been among our peO-
pie wide differences OF s5RtInent to the best
methods IF raising the national revenue, and in
deed as to the principles upon which taxation
should be based there has been substantial accord
in the doctrine that only such taxes ought to be
LEVIED es necessary for the wise and economi-
cal administI atien Of government. Of late the
public revenues have exceeded that Limit, and un-
less checked py appropriate legislation. such ex-
cess will continue TO increase fruIn year TO year
For the fiscal year ended juno 30th, 1881, the
surplus was more than $l45 0a0,O ,O09. The report
of the secretary shows what disposition has been
made of these moneys. They have not only an
swered the requi' eOeats of the sinking fund but
have afforded large balance applicable to other
reductions of the public dsbt. Bnt renew the
expression Of the conviction that such rapid ex-
tingUishment OF the national Indebtedness IS Is
new taking place is by Re means a cause for con-
gratulations. 1t Is cause rather for ssrieus ap-
prshension.
If it continues, it must speedily be followed by
one of those evil results clearly set forth in the
report OF the secretary; cithet the surplus must
bs idle IN the treasury or the government viii be
forced to buy at market rates its bonds not then
redeemable and which, under such ercum-
stances, cannot fail to command an enormous
premium; or the smaller revenues will be devoted
to eItrayagant expenditures which, as expert
enee has taught us, is ever the bans of the over.
flowing treasury.
1t was made apparent in the course of the an.
imated discussion which this question >oussd IL
the last session of congress that the policy Of
diminishing the revenue by redu ing taxation
summarized general approval of the members of
both houses regret that because of the conflict
ions as to the best methods by which that policy
should be made operative more of its benefits
have not been reaped. In fulfillment of what 1
deem my constitutional duty, but with little hope
that can make valuable contribution to this
vexed question, [ shall proceed to intimate
briefly my own views in relation to it.
PRESIDENT ARTHURs PLAN FOR REDUCING
TAXATION.
Upon the showing Of our I1fancial condition at
the close of the last fiscal year felt justified N
recommending TO congress The abolition Of inter-
| ua revonEe, cx' ep, Tha- tpe- tnhaecs 1t,
rInas farms ana upon die ii!el spirits ar.
ted tsQs.srs eXc1pt aiea tAx special q {
| Gpoa the manufacturer aud dealer. Ia such ar;i-
clcs. / venture Row TO suggest that unless II
shall be a.cert&inted hat the probable sypenii-
tures of the government fer the coming year have
| been under estimated, the interal taxes save
those which relate to distilled spirits, can be pru.
! IDENTIFY abrogatel.
| Such reduction, accom- panied By simp likca-
tion of the machines of collection, which would
| then be easy of accomp plishment might reason
ably be expected to result in diminishing the cost
of such collection by at least two millions and
| half of dollars and in the retirement from office
| frem 500 to 2 600 persons. The system of ex-
else duties has never commended itself to the IA
! VOC of the American people, and has never been
| resorted to except for supplying deficiencies in