Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1882-12-09
Internal Revenue Report.

" 0stAo So
increased from S1l3,0O0,OO0 in the fiscal year
1879, to SIZE. 0O0yGO0 in 1880, S!3o, 100000 in 1881,
and to S1i6, 100000 On round tigures) in the
fiscal year last ended. There VIII probably lie
some dimunition in tho receipts of the
present fiscal year rs compared with last year,
but it is not likely collections of internal rev.
enue for the current year will fall below
Si45, 900, 100 should the taxes now Imposed be
retained. Ii is IN old and sound maxim that
no more revenue should be raised than is
of the Government and gradual reduction of
the public debt, although taxation may be so
Wisely adjusted aJon ths as n not to opWSr nse as as a sever. SEVERE
collected is beyond the &C ual needs of the
Government there is presented a con-
stunt temptat on to extravaganza in ap-
preparations. Another consideia tion attend
ing an overlooking condition of the Pull
lie Treasury cannot have failed to attract
the principal of the public debt be continued,
all bonds subject to c:tll will be paid within
be compelled, in order to dispose of its surplus
revenue, to buy in the open market AZ per
cent. bonds which fall due in 1871, or the 4 per
cent. bonds which fall due in 1907. Should the
of these bonds before maturity, it seems clear
that they would advance in price to % or 30
tainly be regarded as n waste of the peoples
money. 1t seems to me judicious that the
principal of the public debt should be extin-
guished, as originally contemplated, only ut a
rate necessary to meet the requirements of
the sinking fund-viz: to the extent of about
S55, 0 1000 per annum. Therefore it becomes
obvious that a reduction of from $50, Doc, goo to
$40, 0 5000 in the annual revenues of the coun-
try could be safely entered upon, and, in my
Judgment, such reduction is urgently called
for.
The great bulk of internalrevenue taxation
Is derived from distilled spirits, malt liquors,
tobacco and cigars. These are articles of lux
ury, taxes upon which are really paid by con-
sumers. and no one need consume them. l am
strongly OF opinion that SO long as the Prin-
Governmei t from internal taxation is re-
tanned, these articles and dealers therein are
proper subjects for taxation. There is no
ducts for a remission of taxes imposed upon
them; there is no public sentiment calling for
their repeal. Other objects OF internal-revenue
taxation, with amounts realized therefrOm
the last fiscal year, are: Friction matches,
S3,272. 25s; patent medicines, perfumery, ETC.,
posts, 1900. 7Ol: sayings-bank deposits, $685.
capital. 81. 10: Add to these items taxes col
from National banks, and there is a total de-
rived from these sources of SIS. 4s,2s3. If to
$ls, 750,00O reduction thus proposed Congress
should add q reduction in the charges for
special taxes to dealers in articles taxed for
internal revenues substantially as proposed
In the bill now pending before the Senate: a
still further diminutiOn Of taxation would be
attained, and supervision oyer dealers in tax
able articles, which experience has shown to
be necessary in order to fully and fairly col
lect the taxes from all alike. would be pre-
served. Reducing all these speci: l taxes 40
per cent, remissions under this head would be
tions, s3,oo7.s SIS. The act Of March i. 1873, re-
duced the tax on tobacco from "a cents per
pound to 16 cents per pound. but did not re-
duce the tax on cigars and cigarets. A cor
responding reduction on cigars would be to 81
per LOCO. This, l think, should be done. and
would amount to a reduction of taxes of So
internal-revenue taxes dncluding taxes on Ma
tional banksl, of SO. 502, l2s.
Tariff revision is considered by the Com
l venture to suggest whether il is not de-
sirable to consider the practicability Of taking
of sugar are annually consumed in the United
States, 10 per cent of which is produced in this
country. Upon 1850, 100000 pounds imported
600. Should the duty be removed there would
be not only a certain and large reduction of
reyenue, but the benefits of that reduction
would Immediately inure to the people. The
best refined sugar, which now sells at ten cents
apound retail could be sold at seven cents if
the duty were removed, and the total reduc-
annum OF the entire population of the country.
The objection to this measure would be the
abolition OF protection now afforded the sugar
interests of Louisiana and other States. This
difficulty might be met by giving a bounty, of
say, two and a half cents per pound upon all
nor home s5 produced nieat sugar r. The The present present law GI gives Z
$4.OOO,OOo or s., O0O,0 600 per annum. My PROPOSE:
ton would be to give this amount directly and
REDUCTION rcd aaa GnS Of taxation PeaGts o Of say rs s45 Ssne ,oo5 W %h ieS
would in this way be effected. The principle
of paying a bounty for the encouragement
and development of American industry was
adopted in the case of the fisheries as early as
1913 and continued for more than fifty years.
Millions have been paid out during this period
ported, and we are still giving this industry q
bonus, allowing them to withdraw salt free OF
duty and recurring from them no tonnage
amount to s7s,5U2, 12s. Receipts of Internal
were we. For 1881, 81 sls s. sss g sla; fSr 1sss, s1as,5Ss,
first four months of the present fiscal year
compared with the corresponding months the
last fiscal year, show an increase in the
amount received from special taxes, and a de
crease in distilled spirits; an increase in
cigars, cheroots, cigarets, snuff of all descrlp
lions, and special tax of dealers in manufac
received from all other taxes on tobacco and
tobacco trade; an increase in the amount re
efs in beer: an increase on bank deposits anG
bank circulation; a decrease on taxes of every
other character on banks.
The entire amount collected in the fiscal veal
lSs2 was promptly covered into the Treasury
without loss. During the last six fiscal years
S74s,S34.0I1 has been collected from internal
revenue taxation and paid into the Treasury
without any loss by defalcation. The expense
Of collection the last six years was about S27,
$500, or about 3.6 per cent. on the amour,
collected. This sum has been disbursed with
out loss to the Government.
On the 30th of June. 1852, spirits remaining
in warehouses reached the highest point
namely: $685. ,645 gallons. Since that tint
there has been a gradual reduction in the
amount remaining in warehouses;, and on thu
LIST of November. 1882, the amount was 81, 62S.
81 gallons. This large stock mainly consist.
of fine grades of whisky, the tax upon which
will fall due from month to month. The las
withdrawal must be made the 9Th O.
December, 1888. If the future demand q
this class of goods is to be judged of by with
drawals of similar goods, tax paid, during tn,
past few years, the stock now on hand is euua
to six years consumption. To postpone paw
ment of the tax on this stock until its with
drawal is required by the demands of til,
trade. A movement has been set on foot fo
its expectation and reimportatiOn and storag,
in customs bonded warehouses;, This is en-
tirely practicable under existing laws, and i
becomes n question whether it would not b,
better to afford BY legislation the relief sougb
to be obtained by this indirect means.
The total amount of collections from tobaC
co for the fiscal year ended June 80, 1882
was S4i, 1871, 9SS. This amount includes the col
lectiOns of internal revenue taxes impose,
upon imported manufactured Tobacco, smut
and cigars lin addit on to customs duties); tax
eS imposed on domestic manufactured tObaC
co. snuff and cigars; special taxes paid b.
manufacturers of tobacco. snuff and cigars
special taxes paid by dealers in leaf and deal
!, ers in manufactured tobacco; special take
paid by peddlers of manufactured tobacco
and it also includes the receipt OF money TO
eNport stamps sold exporters of tobacco.
The condition OF the service is all that ca
be desired. The reports of inspecting off