Year: 1871




sress-EvcrythiAg b Lovely aud Grant


Stock b Hish.


| We publish 10 the HERALD this morning
comprehensive synopsis Of the coming annual
Message of the President Of tho United States
to Congress, procured specially by our Wash
ington correspondent The document itself,
We are told, will be unusually interesting. and
will have the recommendation Of directncss
and brevity. From the points now In our
possession II Is plain that our Chief Executive
and his heads Of departments 6nd everything
lovely In the conditiea Of tho country, and that
with the triding sexeeptisn Of the Ku Klux
troubles down eessA-whfoh arc probably
after ell political hobgoblins rather than real
| dangers-we are . wonderfully prosperous
and happy people. Onl, ssx years after .
civil war that for four years threw out Of pro-
ductvensss the most valuable portion Of tho
Union, destroyed vast amount Of property,
stopped emigration, and heaped upon our
shoulders . debt from the contemplation Of
which many Of our more shortslghted anan-
ciers shrank in alright we 6al ourselves
wiping out that debt ct the rate of about ono
hundred millions annually, and prepared to
sweep away with one dash Of our Congress
sional pen nearly the whole Of the internal
taxation imposed upon rs by the war.
| The most important and gratifying feature
Of the Message Is Its recommendations In
regard to this subject of internal taxation.
In these the President comes fairly and
squarely on TO tho HERALD platform, and
adopts, almost UerbGtins, the suggestions made
in our columns nearly year ago. He recon-
mends the abolition of all internal taxes
except those on spirits, malt liquors, tobacco
in every form and stamps. On the 18th
January Of the present year we published an
analysis Of tho collections from each specific
source Of revenue, which showed that the
amount realized from the four articles desig-
mated above was just upon sixty per cent of
the total receipts from internal taxes. Follow
ing ont our steady line Of policy in deprecat-
ing Secretary Boutwell's pet folly Of endeayor-
ing to pay of the debt at high-pressure rate
of speed, through the instrumentality of high
and harassing taxation, instead of devoting
some portion Of the expansion Of the revenue
to the immediate relief Of the people, we
then said SIT is open to us now to knock
OF at one blow the whole Of the internal reve-
nue. system that strikes ct everything, except
these three items Of spirits, tobacco and fer
mented liquors, thereby taking load from
our backs under which we should draw breath
with fiscal freedom corrsspondlse N some
decent measure to tho political ifsSSdon We
enjoy" The government appears at lastte
have awakened to the wisdom Of using our
large surplus revenue for the tightening of our
present burdens, and trusting to the increased
elasticity which would necessarily be impaired
to the taxation still retained for the means of
steady if less rapid decrease Of the debt. The
| abolition Of the odious income tax and Of
other minor taxation under tho present inter-
nal revenue system would materially increase
the consuming and purchasing power Of the
people, and thus swell the receipts not only
from the articles retained, but from Customs
as well. A great saving would also be
effected In the expense Of collection,
and the now cumbrous machinery Of
the Internal Revenue Bureau would
be simplifed. The President states that
the receipts from spirits, malt liquor, tobacco
and stamps will be sufficient to meet the cur
rent expenses Of government and still leave
| surplus for an annual small reduction Of
the principal Of the debt, and he thinks this
is principally owing to the improvement in
the collection Of taxes on the articles retained.
This is scarcely broad enough view to take
Of the subject The natural expansion Of the
business Of the country, and the extraordi-
nary impetus that would b~ given thereto by
the abolition Of taxation in other directions
would, we believe, be almost sufficient to keep
the revenue up to its present mark, and to
enable us to reduce the debt at Q rate ample
enough to satisfy even Secretary Boutwell,.


So far a. the political effect OF tho changes
recommended by the President are concerned
IL is certain that no more popular act than the
total abolition Of the income tax could be un-
dertaken by any administration. Great credit
is claimed for President Grant and his advisers
on account Of the large reduction Of the debt
that has been effected during the past three
years, but there is good deal of humbus
about this. The debt must be decreased
every year in great nation which
grows 80 wonderfully In material wealth,
almost from day TO day, through the develop
ment Of the country, the increase Of its
population by immigration, and the general
spread Of its commerce. The grossest finan-
cial bIunders could scarcely prevent such
result. The people begin to understand this,
and they see no reason why they should be
burdened unduly to get rid at high-pressure
rate, Of a'aebt incurred to preserve the Union
and to hand down to our children the inesti-
mable blessing Of strong and free govern
ment While Secretary Boutwell, is pay