Year: 1867

Objectionable Features


From the Philadelphia Led1e-.


There is some apprehension in the
public mind lest the declining revenues
from income may prevent the much de-
sired exemption of tax on all sums of
one thousand dollars and under. The
daily receipts are much less than two
or three months back, yet the whole
amount collected since the Ist of July
last, to the 18th instant, more than half
the fiscal year aggregates SI75, ,ls4.
This leaves but one hundred millions
to be collected during the remainder of
the year to complete the estimate made
by Commissioner Wells, in his report
recently made of the general revenue.
and Mr.. Wells was but one million be,
low the estimate made bythe Commits
sioner of Internal Revenue, Mr..
Rollins, in his last official report, We
have just passed, probably, the dulleSt
portion of the year for the collection of
this branch of internal revenue, and
the present low average is no more than
has been experienced "a cor
responding time every year since the
establishment of the present tax
system. This in itself is no cause for
discouragement, and is certainly no
Justification for continuance of an un-
equal and unjust tax. While the geu-
eral depression OF business in the large
cities has awakened some apprehension
that the revenues from income will fol-
low the decline in customs receipts
there u nevertheless reason to believe
that the continuance OF high prices in
most industrial pursuits, and especial
ly in agriculture, viii for the year keep
them nearly up to estimates, Should
there be that revival in business hoped
for from wise legislation in reference
to the currency, the national finances
and the tarid-at least, if there shall he
nothing positively injurious done-it is
not impossible that with the fiuctua-
tions which characterize this branch of
public income, the excess over all esti-
mates may amount to twenty or even
thirty millions of dollars by the end of
the year. Last year the excess was
even more than thirty millions over the
estimates, and more perfect system of
collection should go far towards coun-
teracting any loss from a depression of
business or lack of enterprise. The
exemptions made by the Law
of July last, so far, show no
material effects on receipts, and
probably will not for the future, being
more than equalled by other causes af-
fectng the practical working of the
law. 1t has been abundantly shown
that the tax on income Is unequal in
its operation, and oppressive on class
llLtle aOle 10 Dear II under the most
prosperous condition of trade and busi-
ness, and il attempted to be enforced in
time of reyulsion would provoke dis
content and greatly reduce revenue. If
the income tax Is continued, it ahould
be greatly modified, and under no cir
cumstance should it subject to tax sums
less than one thousand dollars. Indeed
there are good reasons why it should
be wholly abolished; and, for one
among other good reasons, because of
its nQuisitorial character. Ii must
always be more or less demoralizing,
because II invites men to commit fraud.
Further, it is uusonnd in principle, and
frequently harsh in its operation, by
rating a man not according 70 his pres
ent ability 20 pay. but by his means in
months long passed Could the Gov
ernment's snare OF income tax be taken
from thepocket every day as it accrues,
1t might be what some writers claim
Tor it-eQuitable and Just.