The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-01-05
REPEAL THE STAMP TAX.

There does not seem 90 be any good
reason why that part of the internal reve-
nue. law which provides for a stamp tax
should not be repealed. The bill introduced
by Representative Lewis of this state to
repeal il should have prompt and favora-
bic consideration.
The receipts of the government are now
greater than its expenditures, and the tax
burdens of The people should be lightened
as quickly as possible The stamp tax is
an annoying one, and the people should
not be required to pay it unless there is
an absolute need of it. II puts into the
treasury about s1O0,o0O00o year There is
no need for that 800, 100000 now. The Sec
rotary of he Treasury doesn't know what
to do with it, aud so he is depositing IL in
some of the favored national banks, and
they are getting rich by lending il to their
customers.
The Secretary Of the Treasury may say
that money should not be permitted to con-
gest in The treasury. because it would tend
TO make money scarce and dear-that the
wise thing to do is 10 put it in circulation
by depositing it in national banks But
what reason can be given for taking out
Of the pockets of the people more than is
needed by the government? There is no
justice in taxing the people for more than
he government needs and letting national
banks have the surplus 10 loan back TO
the people at high rates of interest.
The treasury statement that was pub
lished on Wednesday shows that for the
six months ending Dec. 3, the receipts of
the treasury, in excess of expenditures,
were more than $21,OO0,0OO. The operations
of the treasury for the six months ending
Dec 81, 1898, left the treasury with a de-
felt of nearly $S4.000OOO The surplus of
more than ST. 100000 for the six months
ending Dec. 81, last shows that there has
been gain of about $1O5. 1000 within
year These figures furnish ample evidence
that there is no longer need for the stamp
tax.
Il is not to be wondered at that the peo-
pie are beginning TO grumble They are
taxed by means of the internal revenue
laws far in excess of the needs of the gov
eminent and national banks get the bene-
fit from it, and they are taxed excessively
by means of high protective tariff laws,
made almost entirely for the benefit of
certain industries. For instance, the price
Of Tin plate has been advanced enormous
ly within year. II is twice as high as il
was before the tin plate-trust was formed.
The result is that prices of all sorts of
canned goods are higher. The people have
to pay tribute to the tariff protected tin
plate trust. The same is true in respect to
the nail trust. The price of nails has dou-
bled within comparatively short period.
These are only two articles of scores that
could be mentioned.
The people are suffering under the eys-
tom of taxation which the Republican par
ty had fastened on the country, and they
are becoming dissatisfied. Representative
Lewis has done good thing in introduc-
ing his bill TO repeal the stamp law. Let
him now introduce a bill to bring down
the tariff to a revenue basis. Under the
present system it will not be long before
the national banks and the owners of the
projected industries will have possession
IF an the money in the country.