LECTURES AND ESSAYS READ AT INSTITUTES. 223 



people are ignorant, but it is because it is a subject not easily understood, 

 requiring more time than the average farmer can give, to clear it from its 

 mysteries, and make its workings familiar to the people who pay tax under 

 this law. 



About two years ago it became evident to our national law-makers, that 

 they were collecting money under the tariff laws, in excess of the needs of 

 the government. A commission was appointed by Congress, whose duty it was 

 to hold meetings during the adjournment of Congress, and people of all 

 classes and professions could appear before this commission, and advocate a 

 higher or a lower rate of tariff, as they might think best for their interest; 

 and it was the duty of this commission to report to Congress the result of 

 their deliberations, in a bill for a revision of the tariff laws. It was variously 

 estimated by different members of Congress, and other officials, that the rev- 

 enue might be reduced from seventy to one hundred millions of dollars, with 

 safety to our national finances. The commission reported and their report 

 resulted in our present tariff law. It now appears by the message of President 

 Arthur, that the revenue under the new tariff law will be a reduction of about 

 fifty millions of dollars, and he says he has no doubts that still further reduc- 

 tions may be wisely made. 



The report of the secretary of the treasury says that from the actual and esti- 

 mated receipts and expenditures of the government for the present fiscal year, 

 after placing to the credit of the sinking fund a sum that, if continued each 

 year, will be an amount sufficient to pay our indebtedness as fast as it becomes 

 due, there will remain in the treasury about forty millions of dollars. And 

 his estimates for the year ending June 30, 1885, after crediting the proper 

 amount to the sinking fund, will be sixty millions of dollars. 



Why need this large amount be collected? Why not collect just enough? 

 One of the wisest statesmen in the country says : An overflowing treasury 

 always leads to extravagance, to many forms of corruption, and to all manner of 

 schemes for getting rid of money. 



But, says one, why not pay our national indebtedness? In answer to that I 

 would say that we have come to that pass in our financial affairs where we will 

 either have to stop paying our bonds or destroy our present system of national 

 currency. However much we may differ in regard to the best system of cur- 

 rency for the country, I presume no one would be in favor of impairing the 

 present system until another and a better one has been created to take its 

 place. 



I fully agree with the president when he says "Let the revenue for the next 

 four years equal the expenditures, and all difficulties will disappear*" By way 

 of explanation let me say, that I do not agree with the president, who is in 

 favor of increasing the expenditures for the purpose of making receipts and 

 expenditures balance, but rather I am in favor of reducing taxation to the 

 extent that no more money be collected than the needs of the government 

 may require. The president and the secretary of 'the treasury both recom- 

 mend a further reduction of taxation under the tariff laws, but the workings 

 of congress are so slow that some time may elapse before any change will be 

 made, but any one who is conversant with the sentiment of the American 

 people, cannot help but see that a lower rate of taxation must come sooner or 

 later. I for one join with those who favor a lower rate of taxation and ask 

 that the reduction be made upon farms, factories, shops, and the necessaries 

 of life, and not from whislcy and tobacco as some advocate. 



