Special Commissioner of the Revenue

Special Commissioner of the Revenue

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1868 edition. Excerpt: ...of the wealth and population of the country. The amount of such increase m Great Britain, for the six years prior to the year 1865-?66, is estimated to have averaged 1,780,000 ($8,900,000) per annum. The data for arriving at this estimate in Great Britain, viz., a comparison of annual receipts, are not, however, at present available in the United States, as the aggregate of taxation in the latter has been materially affected by legislation for nearly every year since the inauguration of the internal revenue system. Nevertheless, it cannot be doubted that the yearly gain from this source is very considerable, inasmuch, as in no year since the commencement of the reduction of the internal revenue taxes have the aggregate receipts of revenue been diminished to an extent commensurate with the corresponding reduction or abatement of taxation. Taking this fact into consideration, and also the fact established by the census returns of the two countries, viz., that the annual rate of increase in the value of real and personal property in the United States is considerably greater than that of Great Britain, the Commissioner believes he is warranted in assuming that the gain of revenue likely to accrue from the increase in the wealth and population of the United States will, for the present, be at least $10,000,000 per annum. Second. A gain to the credit of the treasury from the discontinuance of payment through settlement of the claims of soldiers and sailors for arrears of pay and bounty. This gain, as predicated on the payments actually made under these heads during the last and current fiscal years, may be estimated at $25,000,000. Third. A gain from a further general reduction of national expenditures. This gain for the next fiscal year through...show more

Product details

  • Paperback | 72 pages
  • 189 x 246 x 4mm | 145g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236585682
  • 9781236585684