The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-12-29

legal aeuder notes - the amount 81 o. 1s! esf
In denominations les Than ti0. treasury notes
issued under The act 81 1880 OF 0cnominsgionD
less Than ~. ~. css 80. and national bank aotes
81, 81 30 $500 I - OF tho opinion that
II this policy can be carried out - the extent
OF supplying the country sith small silver Ger
tincates 20 an amount safncient 20 conduct
ordinary cash transactions Of the people. and
II. during the same time. certificates OF tho
largest denominations wers issued In tho
places OF others retired. so asto encourage tho
national tanks to hold them ~ parts OF their
lawful reserves. the existing difficulties would
be removed. snd ultimately = larger amount
Of such currency than 10 now ia circulation
could be conveniently and safely used. . .
PREPARATION TO MEEI DEMAND ron SILVER
In order that the department might be in .
condition to comply promptly with any In
creased demand there may be made upon IL by
the public for standard silver dollars or for
silver certificates. or that It might takr ad-
vantage OF any favorable opportunity that
might occur TO put sn additional amount Of
such currency In circulation without unduly
disturbing the monetary situation. J. have
caused "A large amount Of bullion to be prepared
for coinage at New Orleans and Sar Francisco.
and have ordered the minis at those places 10
be in readiness to operations At any
time when required"
REVISION or THE TARIFF.
The secretary then submits some suggestions
upon the general principles involved In the
10 " Nt' <tfhA %FF ."*+ 7@NF
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 the
payment OF public obligations. This should
lie collected with the least possible injury to
any part OF the people. but without re-
gard to the groundless apprehensions of
unreasonable opposition OF timid or selfish in
ferests. He declares that nothing but thu
piainest necessity can justify the imposition %
specific or compound rates OF duty In any case.
- 49, --.s4A - ~ A
distinctly American and does injustice to no
one.
MI. Carlisle is in favor OF cheapening this
necessities OF life for the masses Of the people.
and taxing luxuries and articles OF taste and
fashion TO the highest point.
In abiding 10 the raw materials. he says:
III the worlds store OF raw materials wero
as accessible TO the American workingman A.
IL is to his competitor In other manufacturing
countries. his superior skill. sobrietv 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
machinery. implements and various kinds.
OF textile fabrics of such qualities
and OF such prices as would ex-
clude all competition and create q demand
for q large increase OF our productive forces.
With free raw material ~ a permanent hx.
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. lockouts and strikes.
which have in recent years 10 seriously inter-
rupted our industrial progress"
MEANS or RAISING REVENUE
The secretary then comes down 10 the rev.
enue and the means OF raising 1t. and says:
1T Is estimated that the revenue for tho
fiscal year 1895 will amount. upon the basis OF
existing laws. TO sa5s. AZ .sis. and that the ex-
penditures. excluding the sinking fluid. VIII
| amount to siss. 800 .7s9. The estimated revenus
| from customs Is $3.50. 600 0Oo. and the
total estimated receipts from all sources
viii exceed the estimate OF expenditures
g. ie0. g5s. assuming these amounts to
be approximately correct. IT will be
necessary, in any changes that may be made In
our revenue laws. TO provide for raising about
srs4 90. 900 from customs alone. or partly from
customs and partly from such other subjects OF
taxation that congress may see proper TO In
clude I'm our internal revenue system ! am OF
the opinion that an increase OF xJ.O0t000 to tho
revenue for the fiscal year 1895. by the inposi-
tion on additional taxes under the internal
revenue system. will supply sufficient means
for the support OF the government.
II have reached the conclusion that II can bo
most conveniently and justly realized by in
creasing the tax on distilled spirits ten cents
per gallon. and by additional taxes on 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
poraiions and joint stock companies"
SUBJECTS FOR A~DDITIoNA Al TAXATION.
The secretary. after stating why distilled
spirits. cigars. etc, should be taxed. says.
Taxes upon legacies and SUGGESTIONS and in
comes acquired from investments In stocks
and bonds OF corporations and Joint stock COM
panies are less Objectionable In their nature
and In the methods OF collection than any
n. to T. 60. tho
United States TO impose upon incomes nc
carding to their actual value or amount.
They are not inqulsitorial nor liable TO
evasion by the fraudulent suppression
Of facts, because the assessments or returns
need not he based upon Information extorted
by law from the persons charged with their
payment, hut upon the public records and the
regular and authentic accounts OF the corpora
tions aud 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 - not earned by
his labor skill. but which in the cases OF
legacies and SUGGESTIONS is acquired by
mere operation OF law or by gratuitous
bcquest. and in the case OF incomes from
investments in corporations and joint stccs
companies by the simple earning capacity OF
his capital as such without personal effort up
on his part A tax OF | per cent. upon an in
come OF 5000 derived from the investment OF
ss0OO) in q per cent. stock would amount to sd,
!. a sum so Insignificant that the investor could
not reasonably claim that the franchises ana
privileges granted to his debtor had not added
!, fully that much 70 his receipts"
sTRIcrEsT ECONOMY URGED.
The secretary concludes his report by urging
I congress 10 practice the ~strictest economy In
! public expenditures consistent with an efficient
administration OF the law He reminds the
t. representatives that reductions of expendi-
: lures can not logically be insisted upon or
80 rruaffantU hgnAHrtll without "A COZ
responding reduction Of taxation.
: on the subject OF the sugar bounty the secrc-
tary says.
= n respectfully call attention to the various
! recommendations contained in the report d
the commissioner OF Internal revenue, and 9sk
their favorable consideration BY congress"
NAVAL NOTES.