The Providence news. (Providence [R.I.]) 1891-1906, 1894-01-01

"
1. The incidence OF such tax will in
evitably result in dividing the citizens
into two distinct classes, those who, be-
cause their income reaches specihed
amount, are assessed such per cent. for
the payment OF Federal bills, and on
the other hand those, who in the very
nature OF the case are exempted from such
| taxation. Class legislation, and an income
tax Is essentially that, does not accord
with the prevalent ideas in this country
| OF lust and equitable division OF the bur-
den OF taxation. "Why," says the New
York World, '.should tax be unpopular
| which will not reach one man In
hundred?" IL seems very strange to base
an argument for the advisabiiity OF such
tax on its inequality.
g The imposition OF the income tax,
requiring inquisitorial measures for its
collection, will in the very nature OF the
case encourage prevarication and perjury
Any public measure which tends TO render
laxity OF morals possibility must be
condemned as by no means consonant
with the highest good OF tn. body
polite.
g. IL Is one OF the fundamental notions
in all equitable and just taxation that 1t
shall encourage industry, inventiveness,
| skill, but are we not confronted by
| scheme which, with the most charitable
construction of II, must be denominated
tax upon economy, industry and frugal
; ity? Can il be reasonably expected that
| large class of citizens will fail to discern
underneath the specious plea for tax
which shall bear directly upon those
most able TO pay il a tendency towards
placing premium upon poverty in ex-
empting some from taxation?
4. III il should happen that by the ope-
ration OF this tax not all but only GER
tain number OF citizens contribute
towards the maintenance OF the govern
ment, the result will be unfavorable in
two directions: those Who contribute
will be tempted to bring an undue amount
OF pressure to bear upon legislation, and
by no means less unfavorable result will
be the decadence OF that love for and in
terest in political affairs which springs
from the thought of being in some way
supporter OF the existing government.
g. People are far less sensible of the
pressure of taxation when the tax is an in
direct one. The question is, as said Tur-
| got one OF the wisest of financiers, how
to pluck the goose without making it cry.
The income tax Will meet with
disfavor because IL is far
more comfortable TO have tax asses
sed in the frs. instance upon Others, even
though in the last analysis, the burden Is
distributed. A tax assessed upon manu-
facturcrs, imprenditors, and importers,
such as the tariff, is designated an indirect
tax, those who pay these taxes recoup
themselves from the whole population
who pay for their commodities an amount
covering this tax.
6. Some of the obtrusive notes OF So
Il. a \ r.
which utters its cry against those who
have become wealthy. The spread of So
cialistic principles in this country prob
ably accounts for the earnest advocacy of
this method at this time.
A few concluding remarks relative to
notifications of our financial system may
be offered:
As now administered the revenue-rais
| ing policy emanates from one committee,
and the revenue-spending policy is in the
| hands OF an entirely different set OF men.
The disadvantages necessarily inhering in
this separation OF the two branches OF one
subject are patent.
A readjustment feems des' table and
necessary, which shall unite the swo func-
tions SO that the duties now incumbent
upon the chairman of the house appropri-
ations committee, and the chairman of the
ways and means committee, may be united
in one officer, corresponding to what Is
called in England the chancellor Of the
| exchequer.
The system to which we have become
familiar is fraught with very grave dam
| gers, threatening to bring our financial
| policy into disrepute both Mt home and
abroad. That which has tended to in
crease our confidence in the present sys-
4 Tor, Ia k. aot hof N loro boo
usually been found at the close Of the fl
nancial year. This surplus has been used
for the liquidation OF the public debt. In
1882 the surplus was exceptionally large,
reaching sl45,543,0O0
| Some measures must be adopted looking
towards the modification and ultimate
/ destruction OF any scheme OF taxation
which benefits sections or classes at the
| expense OF the nation as a whole. The
| citizens OF the United States are justified
| in demanding that careful investigation
be made of the methods which have OBJ
tanned in the conduct OF the pension de-
partment.
OF the several bases of taxation, viz
property, expenditure, non-capital
wealth, productive ability, and income,
| all have their earnest advocates in the
ranks OF publicists. 1t is reas enable to
suppose that the combined wisdom of
care ful students of the financial problem,
aided by the timely discussions incident
upon the broaching OF this system
OF taxation, with which as nation
we have had brief experience, will
result and that too in the near future
in q plan which she'll commend itself to
the entire country as suited to produce
sufficient amount to meet all reasonable
demands upon the treasury, and we may
confidently expect that when such plan
is formulated it will be equitably assessed
and will be collected with as little frict-
ion as is possible under any form Of taxa
tion. w. jon REYNOLDS.
PROVIDENCE n. l. Dec, 1898
| When bnyinr Ayer,s Cherry Pectoral for cnnrh