The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1886-12-07

their products struggle in foreign mar
kets with the competition of nations
which, by allowing n frecr exchange OF
productions than we permit, enable
their people to sell for prices which dis
tress the American farmer. A senti-
ment prevails that the leading string
useful to nation in its infancy may
well, to Il great extent, be discarded.ln
the present Stage of American inge
nuity, courage and fearless self-reiance
and for the privilege Of INDUCING this
sentiment, with true American enthu-
siasm, our citizens are quite willing TO
torego an idle surplus in the publv
treasury. All the people know that at
the average rate of federal taxation
upon imports is. to-day, in times OF
peace, but little less, while upon some
articles of necessary consumption it is
actually more, than was imposed by the
grievous burden, willingly borne, at a
time when the government needed mill
ions to maintain, by war, the safety
and integrity of the United States. 1t
has been the policy of the government q
to collect the principal part of its reve-
nues by tax upon imports, and no
change in this policy is desirable, but
the present condition of affairs con-
strains our people to demand that by u
revision of our revenue laws the receipts
OF the government shall be reduced to
the necessary expense of its economical
administration.
In adjusting the burdens of federal
taxation, sound public policy re-
a: Il, ola If nif nc
built up large and important
Industries under present conditions,
should not be suddenly, and to their
injury, deprived Of advantages TO
which they have adapted their bust
ness.
A responsible and timely submission
to such demand should certainly be
possible without disastrous shock to
any interest, and cheerful
concession sometimes averts abrupt
and needless action. often the
outgrowth of impotence and delayed
Justice. Due regard should be also ac-
corded in any proposed reimbursement
of the interest of American laborers
so far as they are involved.
We recognize in labor chief factor in
the wealth of the republic, and We treat
those VIII, have it in their keepng as citi-
zens entitled to the most careful regard and
thoughtful attention. This regard and
attention should be awarded them, not
only because labor is the capital OF our
working men, Justly entitled to its share of
government favor, but for the further and
not less important reason that the labOrlng
man, surrounded by his family in his hum
BILE home, as a consumer is vitality in,ecestau
ed ia all that cheapens the cost OF living
and enables him to bring within his do
nestle circle additional comforts and adj
vantages.
But our farmers and agriculturists, those
who from the soil produce the things con-
sumed by all, are perhaps more directly
and plainly concerned than any other OF
our citizens in just and careful system OF
federal taxation Those actually engaged
in and more remotely connected with this
kind OF work, number nearly one-half our
population. None labor hardor or more
continuously than they, no enactments limit
their hours of toll, and no interposition OF
this government enhances. i recommend
that, keeping in view these considerations,
the increasing and unnecessary surplus OF
the national income annually accumulated
be reduced to point, by an amendment to
our revenue laws, which shall cheaper the
price of the necessaries OF life and give free
entrance to such imported materials as by
American labor may be manufactured into
marketable commodities. Nothing can be
accomplished, however, in the direction OF
this much needed reform unless the subject
is approached in patriotic spirit OF devo-
ton to the interests ol The entire country
and with willingness to yield something
for the public good. The sum paid upon
the Public debt during the fiscal year end
ing June 80, 1886, was Sl4,55l ,043 80.
During the twelve months ended Der. 81,
1886, 3 per cent bonds were called for re-
demption amounted to Sl27, 2S3, 100, of
which $50, Gas, 200 was so called 10 answer
the requirements of the law, resulting in
saving to the sinking fund S466,3s9. For
the purpose of reducing.
THE PUBLIC DEBT,
by application of part of the sur
plus in the treasury to that object, of
the bonds thus called $l02,269,450 be-
came subjected under such calls to re-
demption prior to November /, 1886.
The remainder, amounting to S25,0l3,-
$50. matured under the calls for that
date. In addition to the amount sub
ject to payment and cancellation prior
to November /. there were bonds, with
the interest thereon amounts to 49,
O72, 800, which was anticipated as to
maturity, of which $2.664,S50 han not
been callnd. Thus $l07,341 800 had
been actually applied, prior to Nov. /,
1886, to the extinguishment Of our