Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-12-28

condition to comply promptly vita any To-
creased demand there may be made upon it by
the public for standard silver dollars or for
silver certificates, or that it might take ad-
vantage OF any favorable opportunity that
might occur to put an additional amount Of
such currency in circulation without unduly
disturbing the monetary situation. I have
caused a large amount OF bullion to be prepared
for coinage at New Orleans and Sac Francisco.
and have ordered the mints at those places to
be in readiness to commence operations at any
time when required"
REVISION OF THE TARIFF
The secretary then submits some suggestions
upon the general principles involved in the
proposed revision of the tariff laws. and says
that the only proper purpose for which taxes
| can be levied and collected is to raise revenue
| for the support of the public service and tbs
payment of public obligations. This should
be collected with the least possible injury to
| any part of the people, but without re.
| gard to the groundless apprehensions OF
unreasonable opposition or timid selfish in.
| terests He declares that nothing but the
plainest necessity can justify the imposition OF
specific or compound rates of duty in any case.
| He says that taxation according to value Is
distinctly American and does injustice to no
| one.
Mr.. Carlisle is in favor Of cheapening the
necessities OF life for the masses of the people,
and taxing luxuries and articles of taste and
| fashion to the highest point.
In abiding to the raw materials, he says:
IF the worlds store of raw materials were
| as accessible to the American workingman as
| it Is to his competitor in other manufacturing
countries, his superior skill, sobrfety and In
dustrious habits would enable him, without
financial aid, to supply many parts of the world
| where his products are now never seen with
of textile fabrics of such qualities
and OF such prices as would ex-
clude all competition and create a demand
for large increase OF our productive forces.
With free raw material permanent fix
| ture OF our revenue legislation, the demand
for labor would steadily grow with the extern
sion of trade, while enlarged opportunities for
the profitable investment of capital would
stimulate the spirit of enterprise among our
people, and greatly diminish the danger Of
periodical suspensions. lock-outs and strikes
which have In recent years so seriously inter-
rupted our industrial progress"
MEANS OF RAISING REVENUE.
The secretary then comes down to the rev.
enue and the means of raising it, and says:
1T is estimated that the revenue for The
fiscal year 1895 will amount. upon the basis of
existing laws, to Sl54. 427, 74S, and tina: the ex
penditures, excluding the sinking fluid, will
amount to S448, 300, 7s9. The estimated revenue
from customs is $3.50, 900 600. and the
total estimated receipts from all sources
will exceed the estimate OF expenditures
So, 120,95S Assuming these amounts to
be approximately correct. 1t win be
necessary, in any changes that may be made in
our revenue laws to provide for raising about
$184 600 600 from customs alone, or partly from
customs and partly from such other subjects of
taxation that congress may see proper to in
clude in our internal revenue system am OF
the opinion that increase OF $50 00) 900 to the
revenue for the fiscal year 1895, by the imposi-
ton of additional taxes under the internal
revenue system, will supply sufficient means
for the support of the government.
Il have reached the conclusion that it can be
most conveniently and justly realized by in.
creasing the tax distilled spirits ten cents
per gallon, and by additional taxes cigars
cigarettes, and the imposition Of new taxes on
playing cards, cosmetics and perfumeries,
legacies and SUGGESTIONS, and incomes derived
from investments in stocks and bonds Of cor
porations and joint stock companies
SUBJECTS FOR ADDITIONAL TAXATION.
The secretary, after stating why distilled
spirits, cigars, etc, should be taxed. says:
Taxes upon legacie6 and SUGGESTIONS and in
comes acquired from investments in stocks
and bonds of corporations and joint stock COM
panies less Objectionable in their nature
and in the methods OF collection than any
other excuses which it is competent for the
United States to impose upon incomes
cording to their actual value or amount.
They are not inquisitorial nor liable to
evasion by the fraudulent suppression
of facts. because the assessments or returns
need not be based upon Information extorted
by law from the persons charged with their
payment, but upon the public records and the
regular and authentic accounts OF the corpora
lions and companies in which the investments
have been made; and they have the additional
merit of being imposed entirely upon that part
of the citizens income which is not earned bW
his labor skill, but which in the cases of
legacies and SUGGESTIONS is acquired bt
mere operation of law by gratuttoWs
bequest, and in the case of incomes from
investments in corporations and joint stock
companies by the simple earning capacity of
his capital as such without personal effort up
on his part. tax Of per cent. upon an In
come of 5000 derived from the investment of
$4,000 in per cent. stock would amount TO 49,,
a sum so Insignificant that the investor coule'
not reasonably claim that the franchises .ano
privileges granted to his debtor had not added
fully that much to his receipts"
STRICTEST ECONOMY URGED.
The secretary concludes his report by urging
congress to practice the strictest economy in
public expenditures consistent with an efficient
representatives that reductions OF expeurii-
lures can not logically be insisted upon or
made practically beneficial without a cur
responding reduction of taxation.
On the subject of the sugar bounty the sesza-
tary says:
II respectfully call attention to the various
recommendations contained in the report o.
the commissioner of internal revenue, and ssk
their favorable consideration by congress "