New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-12-05


seth OF June 1888 and the 3Oth Of June ls.2 resPcc
lively, distilled spirits as follows: jim: 30; 1883
There should under the present law. come out Of
bonded warehouse aud pay tax distilled spirits as FOL
Iss1 ale56I2 Gallons; tofa gallons
on which the tar would he +2G64OO5s 20 The whole
1uauty bonded warehouses To out and pay tax
by July 1856 Ia s0490,993 gallons at tar Of 30 cents
Thls has some bearing on the probable OF
plus revenue Al )ud there be legislation affecting the
payment or postponcment OF that tax
The Commissioner OF Internal Revenue recommends
that the limitation To prosecutions for violations OF In
ternal revenue LAYS be made Two years IN si esfe. SUP
ton OF ha bureau that IN nearly all proceedings In
stuted after two years the accused Is acquitted.
He calls attention TO the Of alcoholic yapOr in the
manufacture OF vinegar He suggests tue need Of esa
ton preventive Of frauds therein. That which seems the
best IA subject the manufacturers 10 the rega
tons which made by law for the dsters OF spirits
50 far ~ they may be applied His report speaks Of the
direct taxes levied under the act OF August g. 1861. aud
OF the doubts which have arisen whether tho internal
revenue have operation In the Indian Territory. These
matters OF such importance IA 10 he especially com
m-nded the early attention OF Congress. II IS worthy
too. OF consideration whether amnesty should not be
given class OF offenders against the internal revenue
laws, which viii be intsligoy indicated by the Phrase
dsobcence Of the law has run to violent opposition to
the enforcement Oft.
REDUCTION OF TAXATION.
The only United bonds which are now payable
the pleasure the the three per cents
being 1905 529 900; those which next become
docnabe the S250O0O.O00 OF four and a half
per cents September l, 1901. The S737 $40 700 Of
four per cents aud the 1929 Of refundng certificates
are redccmabe July l, 1907
The estimates for the scal year ending June 30 1884
show surplus revenue OF SS5 600 600 per This
is enough pay all the three per cents In and
half years and before the close OF the fiscal year end
ceeding years TO September 1891 would be more than
$3.50 900 600, $lO0O00O0O more than enough pay
all the bonds then falling due Tho annual surplus
until July l. 1907, would amount, with the 800 900 900
LEFT after paying the fOurandah per cents, TO about
redcrmable Is Less than $4,000 600 The estimated
surplus Of Ss50O0OOO year would pay the whole
years. The only authority possessed by the Treasury
whereby It restore to business the surplus moneys
Of March g. 1884, by which ne may any time apply
the surplus money in the Treasury, otherwise appro
bonds This can now to other than the three per
cents only by the payment OF large and increasing
nearly one half OF the nteresibenrng debt OF the United
held by National banks State banks savings
banks and trust companies and much other OF Il by pr
waite trustees and other persons acting In ducary cspac
n.y. who have no wish 10 surrender these secnries the
difficulty Of acting under the provision cited Is manifest
Moreover IL cannot be assumed that the estimated
plus for the current years under cIing Iaws
will remain at the rate In succeeding years The
increasing population aud swelling business OF the
try will add to- rather than take from the Of the
surplus estimated while the decrease OF Interest
the public debt and probably OF the dsbrsed
by the Pension Bureau, arrears OF pensions are paid
As general prlncipe the good Of the people requires
that public debt should be paid ~ IL may b9
without greatly oncrous taxation or disturbance OF bust
ness Interests which have been fostere perhaps stmu,
lated by provisions OF law once expedent Though OF
the public debt resting upon W. II TO be considered that
the object Tor which IL was In the main Incurred the
good OF coming generations we'll OF that which In
CURED e. and that II II not unjust TO them that reaplng
a measure OF tho benefits 10 purchased, they
should bear their share OF the burden OF pay
ment. But our interestbearing public debt Is
billion and quarter Of dollars 050
icxact ngures and about $3.50 900 600 aud about T740
O6O, 900 OF II beyond reach for payment for about
nine and seventeen years respectively and may
not be brought in by purchase heavy OF
premium, II by paying those rates. there Is
forced upon attention the question, how shall
heapcdup surplus Of public money be avoided The dis
cussOn OF this question In former reports Of This depart
ment admits OF but consistent answer from 1t now
the views therein expressed have not been Given mp
There ought TO be production OF taxation.
TIE SINKING FUND.
In connection herewith 1t proper to call attention to
the statutes providing for a sinking fund.
BY the statutes re-enated In sections 1904 and 900
of United States Revised Statutes provided that
coin paid for duties imported goods shall be set apart
special fund to be applied first payment In coin OF
the interest the bonds and notes Of the United States
second to the purchase or payment OF or the
entire debt of the United States TO be made within each
fiscal year, and In addition thereto, application TO the
payment OF the public debt OF equal 10 the In
teres yn all bonds belonging 10 the sinking fund.- the
Secretary OF tho Treasury shall from time time direct
This obligation 10 regard the coin received for dres
imported goods pledge for the gradual extinction OF
the National debt has been observed by this department.