Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-12-07
WHOLE NO ll,l17.

mics in its collection, is now more than ever in
Excess OF puohc necessities. The application of
| me surplus TO the payment OF such portion OF
tne puDHc debt rs Is now, ut our option subject
| to extingHishment ifcontinned AT the rate which
! mas lately prevailed, would retire that class
OF Indebtedness within less than one ySar from
| this date. Thus continuance of our present
| revenue would soon result fn the reeeirt Of an
| annual income much greater than necessary to
| meet government expenses and with no in
deotedness upon which 1t could be applied. We
shouid theli be confronted with vast qua atty
| OF money, the circulating medium of the peo-
| pie, boarded in the Treasury when IL shouIt he
IN thelr hanGs, or we should be drawn into
wasteful public extravaganza with ali the COZ
| rupting national decentralization which follows
in It's train. But it is not the simple existence
OF inns surplus and its threatened attendant
eVlls wnlcn furnish the strongest argument
| against our present scale OF Federal taxation.
lts worst Phase is the eXaction OF such surplus
through a perversion of the relations between
| the people and their Governments dangerous
departure from the rules which limit the right
| OF Federal taxation. Good government OF
which every American citizen boasts, has tor its
oDJect tue protection Of every person within
its borders, with the greatest liberty consistent
with the good of the country, and his
pertec, security in the enjoyment of his
earnings, with the least possible diminution for
| public needs. When more of the peoples sus-
| tenance is exacted through the form of taxation
than Is ieeessary to meet the just obligations Of
| the Government and the expense of its econOm-
| ical administration, such action becomes ruth
| less eXtorticn and violation of the funda-
! mem al principles OF free government. The in
| direct manner in which those exactions are
made has tendency to conceal their true char
aeter and extent, but we have arrived at a age
| OF srperiiuous revenue which has aroused the
people to a realization of the fact that the
amount raised professedly for the support of the
| Government Is paid by thesn as absolutely, II
! added to the price CT the things which supply
their daily wants, as # it was paid at fixed
! ~ rlodS Into the hands of the taX-gatherer.
| Those who toll for daily wages ara beginning to
understand that capital, though sometimes
vaunting lis Importance and clamoring for the
| protection and favor OF the Government, is dull
| and sluggish till, touched by the magic hand of
labor, IL springs into activity furnishing an Oc-
casion for Federal taxation and gaining the
! value which enables II to bear its burden and
| the laboring man is thoughtfully iuduiriug
whether, under these circumstances aud con-
sidering the tribute he constantly pays into the
public treasury rs he supplies his daily wants
| he receives his tHir share OF advantages.
| There is also suspicion abroad that the sur
| plus of our revenues indicate abnormel and ex-
ceptional business profits, which, under the sys-
| TEN which produce such surplus, increase with
out corresponding benefit to the people at large.
| The vast ac0Imulations of few among our
| citizens, whose fortunes, rivaling the wealth of
! the most favored in anti-democritic nations are
not the natural growth of steady, plain, in
! dustrious republic. Our farmers, too, and those
! engaged, directly and indirectly, in supplying
the products OF agriculture, see that, day by
| day. and as often rs the daily wants of their
| households reeur, they are forced to pay exces-
/ sive and needless taxation, while their products
| struggle IN foreign markets with the cOmpeti-
| tiOn of nations which, by allowing freer ex-
! change of productions than We permit enable
their people to sell for prices which distress the
American farmer. As every patriotic citizen re-
joices in the constantly increasing pride of our
| people in american citizenship and in the glory
of our national achievements and progress,
! sentiment prevails that the leGdingstrings use
| full to q nation in its infancy may well 10
! great extent, be discarded in the present stage
of American ingenuity, of courage and fearless
| selfreliance. And, for the privilege of indulg-
! ing this sentiment with true American en-
! thuSiasm, our citizens are quite willing to forego
| an idle surplus in the public Treasury and all
! the people know that the average rate of Fed
| eral taxation upon imports is to-day in time of
peace, but little less while upon some articles
! of necessary consumption it is actually mole
| than was imposed by the grievous burden will
| ingly borne ut 8 time when the Government
| needed millions to maintain by war the safety
and integrity of the United States, It has been
the policy OF the Government to collect the prin-
cipal part of its revenues by tax upon imports,
| and no change in this policy is desirable; but
| the present condition of affairs constrains our
people TO demand that by revision OF our reve-
nue. laws the receipts OF the Government shall
be reduced TO the necessary expense of
its economical administration and this
demand shall be recognized and obeyed by
the peoples representatives in the legislative
branch of the Government. In readjusting the
burdens of Federal taxation, a sound public
policy requires that such of our citizens as have
built up large and important industries under
present conditions should not be suddenly, and
TO their injury, deprived cf the advantages to
which they have adapted their business but If
the public good requires IT, they should be con-
tent with such consideration as shall deal fairly
and cautiously with their interests, while the
just demand of the people for relief from need
less taxation is honestly answered reason
able 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 impaiience and delayed
! Justice. Due regard should be also accorded, in
any proposed readjustment, to the interests of
American labor so far as they are involved.
We congraGIate ourselves that there is among
us no laboiing class fixed within unyielding
| bounds and doomed, under all conditions to the
| inexorable fate of daily toll. We recognize in
! labor a chief factor in the wealth of the re-
! public, and we treat those who have it
| in their keeping citizens 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 man. and justly entitled 10 its share of
Government favor, but for the further and not
| less important reason that the labonng man,
| surrounded by his family in his humble home,
as q consumer is vitally interested in all that
| cheapens the cost of living and enables him to
bring within his domestic circle additional com
! forts ana advantages. This relation of the work
J ingman to the revenue laws of the country
and the manner in which it palpably influences
| the question of wages, should not be forgotten
| in the justifiabe prominence given to proper
maintenance of the supply ard the protection
! of wel-paid labor; and these considerations
! suggest such an arrangement Of Government
| revenue as shall reduce the expense of living,
/ while 1t does not eurtail the opportunity for
! work nor reduce the compensation Of American
! labor and injurious affect its condition and the
! dgnihed place 1t hold In the estimation of our
| people. But our farmers and agriculiurists-
those who from the soil produce the things con-
sumed by all-Gre perhaps more directly and
plainly concerned than any other class of ciu-
zens in just aud careful system of Federal tax
alton. Those actually engaged in and more re-
motely connected with this kind Of work mum
Der nearly one-half of our population. None
labor harder nor more continuously than they.
No enactments limit their hOuTs of toll and no
+ FinteTpositlon of the Government enhances to
any great extent the value OF their products.
and yet for many of the necessafits and
comforts OF lie. which the most tcrupu-
| lOus economy enables them 10 bring into
/ their homes, and tor their implements of
/ husbandry, they are obliged to pay price
! largely increased by au unnatural profit which,
! By the Gcion of the Gov, rnment isgiYcn To the
! more favored manufacturer. ! recommend that,
! keeping in view all these considerations, the
! increasing and unnecessary surplus of the ma
/ tionAl income Annually accnmu'ating be re-
leased 20 the people by an amendment 10 our
/ revenue laws. which shall cheaper the price of
! the necessaries OF life aud give eer entrance
| to such imported materials as by American la
I Dor may be manu- acturtd into marketable COM
Inodities. Nothing can be accomplished, how
ever, in the direction q this ehneeded
reform unless the subject is approached in a
patriotic spirit of devotion TO the interests Of
the entire country, and with a willingness 10
/
TIRE PUBLIC DEBT.
! The sum paid on the public debt during the
fiscal year ended June 80, 1856 was 81 81 0l3 SO.
During the twelve months ended October 81
1856 three per cent bonds were called for re-
demption amounting to sl25 ,2s3.iO0. Of which
$50, ,6l3 200 was so called to answer he require
menls of the law relating to the sinking iund,
and SIG esq 800 Tor the purpose of reducing the
public debt by application Of n part Of the sur
plus in the Treasury TO that object OF bonds
thus called Sl62. .269 80 became subject under
such calls to redemption prior to November /,
1886. The remainder. amounting TO S2jOl3,-
$50, matured under the calls after that
date. In addition TO the amount
subject TO payment and cancellation prior To
November 1st there were also part before that
day. Certain of these bon with the interest
thereon, amounting to sos $50. which were
anticipated as to their maturity, ofwhich S2 COL
$50 had not been called: thus sl07 34l 800 had
been actually applied prior TO the lst OF Noyem-
Der. 1886, 70 the eXtinguishment Of our bonded
aud inieres' bearing debt, leaving on that day
outstanding the sum of 7l5,fi3 10. Of this
amount So6SiS 100 were still represented by
three per cent. bonds They however, have
been since November 18th, or at once can be
further reduced by S22,S0G.l5A being bonds
which have been called, Hs already stated, but
not redeemed and cancelled before the latter
date.
OPPOSED TO sILvER corSAGE
During the fiscal year ended June 90.
1855, there were coined under the Com