The Republican journal. [volume] (Belfast, Me.) 1829-current, 1898-07-14
Editorial Notes.

Editorial Notes.
The New York Herald in a review of
the fiscal year ending June 30th pro
nounces it one of the most remarkable in
our history and says there is every indica
ton of continued and Increasing prosper
ity. In the year just ended we have again
broken all records with exports of more
than 800 millions of merchandise-mor
than half of this breadstuffs alone-leav-
ing balance of probably 320 millions in
our favor, besides some 80 millions of sill
yer. and we have again kept at home our
domestic output of gold and made net
draft of more than 100 millions of it from
the rest of the world-an absolutely I'M
precedented amount, Assume that ocean
freights, interest, earnings of foreign cor
porations located here, and similar off SETS
amount to $50 millions for the year, and
there would remain an apparent balance
abroad of 200 millions still due to u.s.
This is the situation which has prevented
the outflow of gold whic h is usual toward
the close of fiscal year, when so many
International settlements are made-in
June of last year, even, we exported more
than seven millions of it.
What with imports of the yellow metal
and our home production. upward of 100
millions of it have been added to the gen
eral stock IN the country during the twelve
month, and the amount of money of all
kinds in circulation has increased more
than $50 millions, or ten pei cent in the
year. The West is in better financial con-
dtion than ever before. Communities
that were formerly borrowers of Eastern
capital now Get all they want from local
investors, and some of the Western cen
tres have recently bought for investment
large amounts Of securities issued in New
Euglaud-the West Lending money to the
East a thing heretofore unleaId Of.
The American Review Of Reviews pub
fishes III article by Max West, in which
hi compares our new war taxes with those
ot the siNtiesH lie finds that a large
number Of possible sources Of leyenue
have leen passed over on the present
occasion, and that the greatest similarity
between tie two reveuue systems is in
Tie ,tanr taxes. While nearly All the
business documents formerly subject TO
duTY HAVE been included in the present
act. Jl.u-l iu many cases at lower rates
than letore. and lew additions have
been A.ade the taxes applied in the
sixties t. a long last Of manufactures
and othel products, including such al
ticIes Of common use As coal and oil, gas,
candies ground coffee and spices. cotton,
sugar and Confectionery, chocolate and
cocoa, salt, slaughtered animals. furni-
ture, umbrellas and photographs dc not
appea? in the present system. Under the
new tax law burdens are imposed upon
a few occupations, willie under the former
system there was a long list of corpora
tons, taxed from to per cent on their
gross receipts, and still longer list of
occul ations reached by means of license
tax es IN addition to the tax on legacies,
there was a succession tax applying to
real estate. Finally, besides the income
tax, there was whole system Of direct
consumption taxes on such articles as
yachts carriages, pianos, private billiard
tables, gold and silver plate and
watches.