Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1883-08-11
WASHINGTON LETTER.
Special Correspondence ladepen6 ent.

w AShiN0IoN, ~. VI, Aug. S,lSS3.
One of the agreeable features in
the matter Of our national finances
is the great reduction in the cost OF
collecting the revenues. During
the year ending June 80, the receipts
from internal revenue were Sl44 ,55S, ;.
1856 90, for the collection of which
there was paid out So, JIG, 900, or Less
than three and one-half per cent. II
used to be said under the Johnson
administration, and to some extent
reiterated under the administration
OF General Grant, that the actual
cost to the Government to get a
dollar into the treasury was more
than the dollar itself; but this iinan,
clal retrogression was never satis-
factorily demonstrated, in the fac
OF the fact that the national debt
was being reduced to the extent of
three millions per month under both
OF these administrations, and up to
this time at the rate of five million
per month under the Hayes and
Arthur dynasty.
or this large amount received in a
single year, Illinois contributes more
than one'sixth, or twenty six mill
ions in round numbers, as her quota
of tax, principally on spirits. And
what Is particularly notable, the
same State is levied upon for nearly
one-half of all the tax collected upon
spirits in the whole country, the En-.
pire State coming in 2nd, with Ohio
and Kentucky practically making 40
the remainder OF the receipts from
this source, which last year footed I'D
close upon seventy millions. The
announcement that there will be but
slight, If any, reduction in the
principal of the national debt for
the mouth Of July, comes of the
sweeping reductions in the receipts
for stamps upon matches and bank
checks aud the rebate upon tobacco
and cigars in bond, which alone calls
for more than thirty millions Of doll
lars. With the prospect that there
will be yet more sweeping reduce
lions by the Democratic Congress
next year, the country will gradual
~ work down TO the limit Of paying
interest on the pnblic debt, and let
the principal take care of itself and
the generations to whom it shall be
heritage.
Twenty years ago no American
living could have entertained the
thought that the United States with
all her unlimited resources, and with
all the unstinted patriotism and 10y
atty of her people, conld have borne
up under a debt of two thous-
and millions OF dollars, when we
were worrying ourselves almost
TO death over an indebtedness
that did not cover one tenth OF
that Low owed by. q single city.
Nor do the people of the present day
seem to realize that our public debt,
large AS 1t is, is not so large by one-
fourth as another public debt which
must be- paid from the pockets of the
people, and that is the debt contrac-
ted by the railroad corporations of
the country, and amounting to the
round sum Of sixty-five hundred
millions of dollars Every mile Of
the more than 100000 miles of rail.
road, with every bridge and tunnel
and station, and every part and par.
Gel of structure and superstructure,
with every particle of rolling stock
pertaining thereto, are under mort,
gage to that class of foreign bond,
holders who will exact the last drop
OF blood nominated in the bond. 1t
is debt of that popularity of con,
struction that enables it to perpet,
uate itself, and no possible forecast
can be taken as to the particular gen.
Grafton that will extinguish it.
While every dollar of our national
debt that is paid is the cessation of
so much of draft upon the resour,
ces Of the people, every payment
upon railroad debt is attended with
additional burdens upon the travel
and commerce of the nation. The
public as it pays one bond, finds it.
self confronted with two to take the
place OF the one extinguished; and
the fifteen hundred millions Of dol