Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1882-12-14

the silver certificates. In addition to the
grounds which seemed last year to Justify
s wseh Is Kelv to esne from the snppV Of
gold certificates, for whose issue Congress
recently made provision, which are now in
active circulation. So a,ss saas-a se4
OUR EXCESS REVENUE. ass
You can not tail to note with interest the
discussion by the Secretary as to the neceSSf-
ty of providing by legislation some mode of
freeing the Treasurv@of an. excess of assets.
early agreement for the reduction of taxa
ton, 1 heartily approve the Secretary's
reductions in the annual revenues of
the Government 1t will be remembered that
urged upon the attention of Congress at it's
last session the importance OF relieving the
industry and enterprise of the country from
the pressure from unnecessary taxation. 1t
is one of the tritest m aximssof political econo
my that all taxes are burdelisome however
wisely and prudently imposed, and though
there have always been among our people.
wide d fferences of sentiment as to the best
methods of raising the national revenues,
and, indeed, as to the princi pies upon which
stantial accord in the doctrine that only such
taxes ought to be levied IA are necessary for
awise and economical administration of Gov
eminent. Oflate the public revenues have
far exceeded that limit, and unless checked
| by appropriate legislation such excess will
lacontinuel to increase from year to year. For
the fiscal year ended June 30 $751; the SUR
plus revenue amounted to $l00,O00,0 900; For
the fiscal year ended on the 30th ofJune last,
the surplus more than $l45 900. The
report of the secretary shows what disnosi-
ton hrs been made of these moneys. fhev
have not only answered the requirements of
the sinking fund. but have afforded n large
balance applicable to other reductions of the
public debt but renew the expression of my
conviction that
SUCH RAPID REIMBURSEMENT OF THE Ma
3 = i TIONAL INDEBTEDNESS
gas is now taking place is by means cause
for con9ratulation. 1t Is cause rather for
serious apprehension. If it continues it must
speedily be followed by one of the evil results
so clearly set forth i'll the report of the Score
tary-either the surplus must lie Idle i'll the
Treasury, or the Government Will be forced
| to buy Mt market rates its bonds not then re-
deemable, which. under such circumstances,
tiun or the swollen revenues WIN be devoted
to extravagant expenditure, which. as eyper-
| fence has taught is ever the bane of an over
flowing treasury.
/ &. - REDUCING TAXATION.
It was made apparent in the course of the
anirpated discussions which rttlis-- question
| the policy of diminishing the revenue by re-
| ducing taxation commanded the general APP
proval of the members or both' houses. re-
! greet that because of conflicting views as to
the hest methods by which that policy should
| be made operative none of its benefits have
| rs yet been rcaped. In fulfillment OF what
deem my constitutional duty, but with little
! hope that can make valuable contribution
to this vexed question, shall proceed to init
mate briefly my own views in relation to it.
| Upon the showing OF our financial condl-
ton at the close OF the last fiscal year, felt
! jul titled in recommending to Congress the
! abolition of internal revenue taxes except
| those upon tobacco in its various forms and
upon distilled spirits and fermented liquors..
! and except, also, the special tax upon the
| manufacturers and dealers in such articles.
| venture now to suggest that unless it shall
| be ascertained that the probable expendi-
| lures of the Government for the coming year
| have been underestimated, all internal taxes
! save those which relate to distilled spirits,
| rs IN CrulpntlS ahr1unfoU Sucll Il
/ if accompanied by slmp11hcation OF the
machinery of collection, which would then
| be easy of accomplishment, might reasonably
| be expected to result in diminishing the cost
of such collection by at least two millions
and a half of dollars, and in the retirement
| from office of from 800 to 1000 ersons. The
! svsterrlof excise dutie. has never commend
! ed itself to the favor of the American people
| and has never been resorted to except for
| by reason of special exigencies the duties on
imports have proved inadequate for the
| needs of the Government.
| The sentiment of the country doubtless
! demands the present excise tax shall be
! be pursued. 1t seems TO me, however, for
! various reasons, so sweeping a measure as
! the total abolition of internal taxes would for
! the present be an unwiSe step Two of these
reasons are deserving of special mention. /.
! 1t is by no means cleartat even if the exist
| ing system of duties on imports is continued
. without modification those duties alone will
/ yield sufficient revenue for all the needs OF
the Government. 1t is estimated that one
for pensions during the coming year, ana it
may well be doubted whether the maximum
annual demand for that object has yet been
| reached Uncertainty upon this question
would alone justify in my Judgment the re-
| tention for the present of that portion OF the
| system of internal revenue which is least OBJ
| jectionable to the people. .. total abolition
| of excise taxes would almost inevitably prove
| a serious If not an insurmountable obstacle to
a thorough revision of the tariff and to any
| considerable reduction in import duties.
b. 80 THE TARIFF. = : sfAEtg Z
1 The present tariff system is in many re-
! spects unjust. 1t makes unequal distributions
4 both of its burdens and its benefits. This fact
/ was practically recognized by a majority OF
each house of Congress in the passage of the
| act creating the Tariff Commissions. The re-
I port of that commission win be placed before
you at the beginning of this session, and will
condition andprospects of the various com
mercial. agricultural, manufacturing, mining
and other interests of the country and con-
tain such Suggestions for Statutory revision
as viii practically aid your action upon this
important subject.
/ THE REVENUE FROM CUSTOMS
for the fiscal year ending June 30, 1873
/ amounted to Sl37 eco oe0.~*It has I'm the three
then slss, 900 ooo, and finally, as has been al
| ready stated S22o, 900 900. The income from
this source for the fiscal year, which will end
on June 80, 1888. will doubtless be cOnsldera
bly, in excess of the sum last mentioned. IL
the tax on domestic spirits is to be retained II
is plain, therefore that large reductions from
the customs revenue are entirely feasible
While recommending this reduction am faI
from advising the abandonment of the policy
of SO discriminating in the adjustment of de-
tails to afford aid and protection to domes-
tic labor, but the present system should be
SO revised as to equalize the public burden
among all classes and occupations and BRING
it into closer harmony with the present needs
of industry. Without entering into minute
4 details,swhich under present circumstances Is
| quite unnecessary, recommend an enlarge
ment of the free list to include within It
the numerous articles which yield 5incOnsid-
4 cradle revenue; simpliffeation of the com
pick and inconsistent schedule of duties upon
Il certain manufactures, particularly those OF
cotton iron andSste and n substantial re
dnction of the duties upon those articles anC
ltupon sugar, mOiasseS, silk, wool and WOODEN
goods If general revision of the tariff shat
be found to be ilnpracticable at this session.
express the hope that at least some OF the
more conspicuous inequalities OF the pfeseni
law may be corrected before your final al
journment One of them il specially referred
to by the Secretary. In view of a recent de
cisiOn of the Supreme Court the necessity o
amending the law by which the duty standard
of color is adopted as the test OF the saccna-
rine strength of sugars is too obvious to ne
quire comment
THE INDIANS. :
From the report of the Secretary OF War i
! appears that the only outbreak OF Indian.
during the past year occurred i'll Arizona ane
in the southwestern part OF New Mexico