Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1893-12-30

taxing luxuries and articles OF taste ana fash
ion to the highest point In alluding to the raw
materials, he says;
II the worlds store of raw materials were
as accessible to the American worlsingman as
IL is to his competitor in other manufacturing
countries his superior. skill, sobrlcty and in.
financial aid, TO supply many parts OF tho
world whore his products are now never seen
nss Ms ,asis n9ss ny snHS and ST9Ss
and at such prices as would exclude ali
competition and create n demand for large
increase OF our productive forces. With free
raw material as u permanent fixture of orr
revenue legislation the demand for labor would
steadily grow with the extension of trade while
ment of capital would stimulate the spirit of
enterprise among our people and greatly dimin-
isn Iuv dangHr Oh pn a suspvms,Vs iook
seriously interrupted our industrial progress
The secretary then comes down to the reve-
nue. and the means of raising 1T and says:
"lt Is estimated that the revenue for the tls-
cal year 1895 will amount, upon the basis of eX-
isting laws, to $l6i, ,i277lS, and that the expen.
ditures, excluding the sinking fund, will amount
to S4iS3 ,7S9 The estimated revenue from
customs Is sl90,0O1,000 and the total estimated
receipts from all sources Will exceed the esti-
mate OF expenditures S6 12O 95s Assuming these
amounts to be approximately correct IL will
be necessary in any changes that may be made
In our revenue laws to provide for raising about
Sl8l,00OO OO0 from customs alone, or partly from
Gus toms and partly from such other subjects OF
taxation as congress may see proper to include
In our internal revenue system. am O.. the
opinion that an increase OF S50,00O,0OO TO the
revenue for the fiscal year 1895 by the imposi-
tion OF additional taxes under the internal rev.
enuc system will supply sufficient means for
the support of the government
II have reached the conclusion that II can bo
most conveniently and justly raised by increaS-
ing the tax distilled spirits 10 cents per gall
lon, and by additional taxes on cigars and Gig
arettes, and the imposition of new taxes on
playing cards, cosmetics and perfumeries, lega
cies and SUGGESTIONS, and incomes derived from
investments in stocks and bonds of corpora
tlonS and Joint stock companies"
The secretary after stating why distilled
spirits, cigars, etc. should be taxed, says:
Taxes upon legacIes- and SUGGESTIONS and
incomes acquired from investment In stocks
and bonds of corporations and Joint stock
companies are less Objectionable in their nature
and in the methods of collection than
| for the United States to impose upon
incomes according to their actual value
liable TO evasion by the fraudulent
suppression OF facts, because the assessments
extorted by the law from the persons charged
| with their payment, but upon the public rec.
| ords and the regular ana authentic accounts OF
| the corporations and companies in which the
| investments have been made: and they have
| the additional merit OF being imposed en-
tirely upon that part of the citizens in
| skill, but which in the cases OF lega-
cies and SUGGESTIONS is acquired by
mere operation OF law or by gratutous be-
quest, and in the case of incomes from invest
ments in corporations and joint stock COM
| panies by the simple earning capacity of his
| capital as such without personal effort on his
| part. A tax OF per cent. upon an income Of
So 0O0 derived from the inves sment OF $50 COO in
| u per cent stock would amount 10 s30, II sum
| so insignificant that the investor could not rea-
| sonably claim that the franchises and priv
| lleges granted to his debtor had not added fully
| that much 10 his receipts"
! The secretary concludes his report by urging
congress 10 practice the striclest economy in
| public expenditures consistent with an efli'
| cient administration OF the law. He reminds
| the representatives that reductions OF taxation
| cuLnot logically be Insisted upon or made prac
| tcally beneficial without u corresponding re-
ductiou OF expenditures
| On the subject OF the sugar bounty the secre
| taTy simply says: u respectfully call atten
| tion to the various recommendations contained
| in the report of the commissioner OF internal
| revenue and ask their favorable consideration
| by congress-"
| In regard to the condition of affairs in the sea
| islands OF South Carolina, Secretary Carlisle
| only refers 10 the work done by the marine no
| pital service and adds: This work, purely OF d
| sanitary nature, is to be supplantcd by the et
! forts OF the Red Cross society in relieving The
| physical necessities OF the people"