Year: 1862

nouncing an opinion upon the details, we shall
wait till we see the whole bill, which is
very voluminous, extending to one thousand


pages 1t is evidently very comprehensive


measure, as it ought to be; but it is possible
| that an improvement might be made in various
| items-that the tax on some might be increased,
and the tax on others reduced with advantage.
For instance, fifteen per cent on spirituous
| LIQUORS manufactured in this country may on
| consideration be found entirely too small, and
the same may be said of leaf tobacco, ten per
cent on segars and three per cent on articles
which ought to be taxed highly, as


being luxuries, and not necessaries Of


life The true principle of taxation


is that every man should pay for the defence of


the nation in proportion to his stake in the COM


munity. Under European governments the
poor are too often taxed equally with the rich,
and some times more. For instance, if the same
specific tax say twenty cents per pound, is i'm
posed on tea worth half dollar per pound and


tea worth dollar, the rich man, who will, of
course, purchase the high priced tea, only pays
half as much as the poor man in proportion
| to the expenditure Of each upon that article.
The poor man will consume as great quantity
of tea as the rich; but he cannot afford to pay
the price for the superior article. The ad valo-
rem per cent principle is therefore the fair one
and it ought to be applied to the whole


schedule of taxation. The tax on newspapers,


for example, ought to be so much per copy, to
be collected in the form of stamps. This would


show which paper had the highest circula-
ton, and in which it would be for the public


interest to advertise. The committee seem to


have adopted instead Of this general tax upon
all printing paper, including that for books, and
pamphlets, and bank notes, as well as that on


which newspapers are printed. AS far as the
receipt of revenue is concerned, that mode will
be as productive as the other, and equally fair
to all classes of journals in regard to the equal
distribution of the burden; but it is not equally
fair to the public nasmuch as it leaves the cir
culaton undetermined. There is, however, an


other way to arrive at that point, and that is
the tax on advertisements and on income.


As we have said, the general principle


Of the bill is good, and most of its de-
| tails are all right. But the mode of collec-
ton, if we rightly understand it, is highly


Objectionable, and that feature of the bill
ought to be altered in the House. The bill
provides that the President shall appoint a
Commissioner of Internal Revenue, with sala-
| ry of $4,000 per annum, his Office to be in the


Treasury Department, with suitable number


of clerks. This is unobjectonable But not so
| the further provision that the country is to be
| divided into convenient collection districts
with an assessor and collector appointed by the
| President for each district, who shall have


power to appoint such deputies as may be
| needed. Now this will alarm the people, who
will be sure to regard it as a political engine


like the custom house, to say nothing of the
enormous cost TO the country. Such a swarm
| of taxgatherers would swallow up half the
amount of their collection; and, considering
| the politicians who would probably be appoint
| ed, there would be every danger of embezzlc-
ment of the public money. The true course is


to let the different States collect it by the same
machinery by which their own taxes are col
lectcd. This arrangement would scarcely add
anything to their expense for collecting their
| own taxes, certainly not more than five per
| cent, which might be allowed them by Con-


gress, while it would save the money raised by


the people from being devoured by political


barpies and cormorants.


IL is estimated that tax Of two hundred mil
lions will be required, besides fifty millions
expected from the tarif--two hundred and fifty


millions in all. Whether the bill will produce


the amount required cannot now be accurately


determined, as such taxation is new expert


ment in this country. But at the end Of year


the schedule can be regulated by the expert


ence Of tho past. There can be no doubt that


the country is able and willing to bear what


ever burthens are necessary for the sustain
ment of the war. It is better able than ever


England was in her most palmy days. Her war


taxes have far exceeded the present pro-


gramme. Indeed her present peace tax is far


ahead of that now proposed as the financial


basis for one of the most gigantic wars on re-


cord. A year ago the taxes for the British


government on peace footing amounted


TO three hundred and eighty millions of dol


lars (s3s0,O0O ,O00). Our resources are far


greater than those of the little Islands called


Great Britain and Ireland. The capabilities


Of the republic were tested In improvising
in a few months an army of 100000 men,


equallingnot only In valor and endurance, but in


military skill, any veteran troops in Earope. by


the creation in the same brieftime ofa navy which