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of operations lies far from the centre and only occasionally passes under scrutiny. Each has his separate sphere of duties which no one else interferes with, and assumes his own responsibility and probably no other institution in the world loses less in proportion to the amount of money involved and the number of persons handling it.

5. Every account must be carefully examined and approved by the proper officer before it can be presented for settlement and the money paid out, and whatever moneys may flow in, none can flow out but according to some law of Congress definitely appropriating it.

All officers having the handling of public funds are required to give security for the faithful discharge of their duties. This must, by the requirement of the law, be done before they can enter their respective places.


Alexander Hamilton, N. Y., Sept. 12, 1789.

Oliver Wolcott, Ct., Feb. 4, 1795.

Samuel Dexter, Mass., Dec. 31, 1800.

Albert Gallatin, Pa., May 14, 1801.

George W. Campbell, Tenn., Feb. 9, 1814.
Alexander J. Dallas, Pa., Oct. 6, 1814.
William H. Crawford, Ga., Oct. 22, 1816.

Richard Rush, Pa., Mar. 7, 1825.
Samuel D. Ingham, Pa., Mar. 6, 1829.
Louis McLane, Del., Aug. 8, 1831.
William J. Duane, Pa., May 29, 1833.
Roger B. Taney, Md., Sept. 23, 1833.
Levi Woodbury, N. H., June 27, 1834.
Thomas Ewing, O., Mar. 5, 1841.
Walter Forward, Pa., Sept. 13, 1841.
John C. Spencer, N. Y., Mar. 3, 1843.
George M. Bibb, Ky., June 15, 1844.
Robert J. Walker, Miss., Mar. 5, 1845.
W. M. Meredith, Pa., Mar. 7, 1849.

Thomas Corwin, O., June 20, 1850.
James Guthrie, Ky., Mar. 5, 1853.
Howell Cobb, Ga., Mar. 6, 1857.
Philip F. Thomas, Md., Dec. 10, 1860.
John A. Dix, N. Y., 1861.

Salmon P. Chase, O., Mar. 5, 1861.
William P. Fessenden, Me., July, 1864.
Hugh McCulloch, Ind., 1864.
George S. Boutwell, March 11, 1869.
W. A. Richardson, March 17, 1873
B. H. Bristow, Ky., June 3, 1874.
L. M. Morri, Me., 1876.
John Sherman, O., March 8, 1877.



1. Revenue, or the income of the government, is derived from various sources. A tax-or duty, as it is often called— laid on goods imported into the country, is one of the most important. It is easy for a government to manage without producing a very sensible effect on the people, and has been a favorite mode of raising a revenue with nearly all governments since commerce became general.

2. The sale of public lands has, in this country, been a source of large revenue; though the desire to encourage emigration and develop the unsettled parts has led the government to sell them for a nominal sum. Still, these lands were so attractive and extensive as to sell rapidly and produce a considerable income. The Post Office Department has been a source of income, in great part supporting itself. Duties paid on the tonnage of vessels, the forfeiture of goods smuggled, or

introduced into the country without paying the lawful tax or duty, and the forfeiture of vessels used in that unlawful trade, prizes taken in war, and fees required to be paid to various officials when their services are employed, are minor sources of revenue.

3. When all these are not sufficient, as in time of war, or when an immense war debt is to be paid, direct taxes are laid on the property and business of the country. This is called


and is borne with more or less patience, according as the people regard the end to be gained important. The revenues of the States are mostly derived from this source. They are not allowed to raise their revenue from foreign commerce, since that would be a tax on goods liable to be paid by the people of another State.

4. The necessity of laying large direct taxes does not, in this country, often arise in case of the General Government; but during and after the gigantic Civil War between the North and South, when enormous expenses had to be met, and the credit of the government sustained, the direct taxes became very large indeed. In 1861 Congress passed the "Internal Revenue Law," by which twenty millions of dollars were to bé annually raised from direct taxes on houses and lands in each of the States and Territories.

By subsequent acts not only houses and lands were taxed, but almost every sort of property and business. Licenses were required for persons to carry on their profession, trade, or business; incomes were taxed; deeds, mortgages, notes, bonds, bank checks, and papers of almost every kind were invalid unless they had a revenue stamp upon them. Manufacturers had to pay a certain per-centage on whatever they made. Scarcely any calling, trade, profession, or business escaped it, directly or indirectly.

5. To carry out these provisions, the whole country was

divided into Revenue Districts, corresponding, so far as convenient, with Congressional Districts. An officer of the Treasury Department, called the Commissioner of Internal Revenue, was appointed, charged with the duty of preparing instructions, forms, blanks, stamps, and licenses, to be used in the collection by the multitude of minor officers employed, and of overseeing the whole work. Each district had its chief officer, and his deputies, assessors, and collectors, by whom the money at length reached the Treasury at Washington. It created an army of officers to be paid. It was laid aside as soon as possible, and taxation made less onerous and expensive. The remarkable prosperity of the country at that particular period made it easier to bear. Direct taxes laid by the General Government are more economically collected by the State or local officials, in all ordinary cases. This was a very extraordinary and pressing one, and the people were so eager to put their debt in the way of extinction that it was endured with much patience for several years, when most of this cumbrous and costly machinery was laid aside.

6. The vast war debt, the large number of government officers employed in attending to the interests of so large and prosperous a country, the support of the army and navy, the great number of foreign representatives and agents of the government, and the public works necessary for the development or protection of the country, make a large revenue indispensable.

7. It is best when the people are free and intelligent that they be governed as little as possible-or rather that they govern themselves as much as possible, and that as few officials as may be live on the fruits of other people's labor. There must necessarily be an army of them, at the least; but such arrangements should be made that public expenses may be reduced to the lowest point, and republican simplicity everywhere reign. The principle and habit of public economy should be earnestly insisted on, since the handling of immense sums of public money is much more demoralizing than the acquisition of

private wealth in legitimate ways. It is a strong temptation to men of weak moral character; and private property is more likely to be carefully used and economically expended than public funds. The smaller the revenue, consistent with the general development of the country, the better.



1. Duty is a term used to designate a sum paid by foreign merchandise coming to our country for sale, for the privilege of entering and being offered to purchasers. Tariff is a rate, or scale, of duties.

Ever since intercourse has become frequent between different nations commerce has been occupied in effecting interchanges of the products and industries of each country with others. Each country has peculiarities that specially fit it for the production or manufacture of some article, or list of arti cles, which others would be unable to produce, or would produce at greater inconvenience and expense, and which is of high value to all, or many of the others. The social principle has proved to be of extreme value to the improvement of men, and to their happiness; and we might say that, in this unequal distribution of capacities in the lands, and the races who inhabit them, the exercise of the social principle, on a broad scale, was made, by nature, indispensable.

3. Each nation, then, devotes itself to its special features of production, and exchanges its surplus with others for what it wants of their different surplus, to mutual profit. Just as A is a farmer, and raises grain, while B is a mechanic. Each has a natural adaptation to the business he pursues, and each needs what the other produces. So they exchange, and each has the full benefit of the success and different genius and resources of the other. Commerce is the same in principle, and interchange becomes constantly more extensive.

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