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Domestic News
October 18, 1814
Alexandria Gazette, Commercial And Political
Alexandria, Virginia
What is this article about?
The Committee of Ways and Means reports on U.S. finances for the war, recommending treasury notes and expanded taxation to support public credit. Proposes increasing direct tax by 50%, duties on spirits, auctions, postage, and new duties on various goods. Estimates total revenue for 1815 at $22,435,000.
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CONGRESS.
HOUSE OF REPRESENTATIVES.
THE BUDGET.
REPORT OF THE COMMITTEE OF WAYS & MEANS
The committee of Ways and Means, to whom was referred so much of the message of the President of the United States as relates to the finances,
REPORT.
That taxes, loans & treasury notes, appear to be the resources on which we must rely for carrying on the war. The produce of the first, cannot be commanded in time to meet the immediate demands on the treasury—reliance on loans, in the present situation of this country, would be uncertain, and the terms on which they would be obtained not such as to induce a resort to them at the present moment—(Treasury notes, combined with a system of taxation more extended than the one heretofore adopted, will, it is believed, in the present state of bank credit, be found to be a much better resource. The want of some medium, which, resting on a firm and solid basis, may unite public confidence, and have a general, instead of a local circulation, is now universally acknowledged. The stoppage of specie payments by the principal banks of the middle states, has embarrassed greatly the operations of the treasury, and by confining the circulation of notes to the limits of the states within which they are issued, has deprived the government of all the facilities of money, which was afforded while public confidence gave to bank notes a general circulation. The notes of New-York and Philadelphia will not be received in Boston; the notes of Baltimore, or of the District of Columbia, will not answer for payment in Philadelphia. If, by any new modification, treasury notes could be made to answer the purpose of a circulating medium, between the different states, they would greatly facilitate the operations of government, & relieve from embarrassment the transactions of individuals. To secure their circulation, it would be necessary, 1st. To issue the notes in sums sufficiently small for the ordinary purposes of society. 2d. To allow the individual who holds them to fund them at pleasure at any of the loan offices, and to receive their amount in stock of the U. States, bearing an interest of 6 per cent. 3d. To make them payable to bearer, and transferrable by delivery. 4th. To make them receivable in all payments for public lands and taxes. 5th. To pledge, for the payment of the interest on the amount issued, so much of the internal duties as shall be necessary. To prevent an accumulation of circulating medium, the U. States to retain the power, on giving six months notice, of redeeming them with specie, or exchanging for them stock, bearing an interest of 6 per cent. If those provisions are adopted, and taxes imposed, which shall manifest clearly the ability of the government to meet its engagements, our present difficulties will vanish, confidence be restored, and the capital, hoarded by avarice, or locked up from timidity, will be again restored to the accustomed channels of circulation.
In presenting additional objects of taxation, care has been taken to select such as will bear equally on every portion of the community. In Europe, the price of agricultural products is not materially affected by a state of war: the produce of the earth is there consumed within the country.
The committee deem it unnecessary, at present, to present any view of the expenditures for the next year, reserving a report on that subject, until the estimates from the treasury shall be forwarded. Confining therefore, this report to the additional taxes, necessary for the support of the public credit, they submit the following resolutions:
1. Resolved, That it is expedient to continue the direct tax, and to increase the same fifty per cent.
2. Resolved, That it is expedient to increase the duty on spirits distilled, by an additional duty of twelve and a half cents on the gallon.
3. Resolved, That it is expedient to add one hundred per cent. to the present duty on sales at auctions.
4. Resolved, That it is expedient to add fifty per cent. to the present duty on the conveyance of papers and letters.
5. Resolved, That it is expedient to impose a duty on the following articles, viz. manufactured tobacco and snuff, in the hands of the manufacturer: candles, of tallow and sperm macetti; hats; cotton yarn, spun by the aid of machinery, worked by steam and water; leather; pig iron; castings; bar, rolled and slit iron; and on nails made by the aid of machinery; on furniture above a certain value, except beds, bedding, & articles of domestic manufacture, in the hands of the owner; beer, ale and porter, in the hands of the manufacturer: boots and shoes above a certain price, in the hands of the manufacturer; on plated harness, in the hands of the owner; on vats for the manufacture of paper; on saddles & bridles, above a certain price, in the hands of the owner; on gold & silver watches, in the hands of the owner: on pleasure horses, kept exclusively for the saddle or carriage; on playing cards, and on lotteries.
Estimate of the amount of the proposed increase, and of the new duties.
50 per cent, on the direct tax,
$1,500,000
Additional duty on distilled spirits,
3,000,000
100 per cent. on the present auction duties,
150,000
50 per cent on postage,
200,000
Manufactured tobacco and snuff, 10,000,000 lbs. valued at 4 cents,
40,000
Candles of tallow 6,000,000 lbs. at 2 cents;
120,000
Spermaceti & white wax 400,000 lbs. at 10 cents,
40,000
Hats— beaver 1 dollar, castors, 75 cents, and russia 50 cents, payable by manufacturers,
600,000
Cotton yarn, spun by aid of machine, y worked by steam or water, 400,000 spindles, at 25 cts.
100,000
Leather—sole, neat's, harness, calf, horse and hog, kid and seal skin, 18,000,000 lbs. averaged at 3 cents,
540,000
Goat and sheep skins tanned with alum, or otherwise to resemble Spanish leather, at 50 cents the dozen, and all other skins tanned or dressed with alum, averaged at 3 cents per lb,
60,000
Iron, 300,000 tons of pig at 1 dollar,
300,000
100,000 tons of castings, at 1 50 cents,
150,000
100,000 tons of bar, rolled and slit, at 1 dollar,
100,000
On beer, ale, and porter, 6,000,000 gallons, at 1 cent,
60,000
Furniture tax, excluding beds, bedding, kitchen furniture, carpets and curtains of domestic manufacture, and family pictures and excluding also from the operation of the tax, every person whose furniture, exclusive of the above articles, does not amount to 200 dollars. The estimate is made on a supposition that the U. S. contains 800,000 families,
Families exempt, as possessing less than $200 worth of furniture, 250,000,
Possessing between 200 & 400 dols. 500,000 at 1/2 per cent
300,000
400 & 600 do 100,000 at 1 1/2
150,000
600 & 1000 do. 75,000 at 3
225,000
1000 & 1500 do 25,000 at 6
150,000
1500 & 2000 do. 15,000 at 10
150,000
2000 & 3000 d. 10,000 at 17
170,000
3000 & 4000 do. 10,000 at 28
280,000
4000 & 6000 do. 15,000 at 45
675,000
6000 & 9000 do. 5,000 at 75
375,000
Above 9000 do. 1,000 at 100
100,000
Boots, white top and full dress military boots, 10,000 pair, at 75 cents,
75,000
Other boots or bootees of the value of 8 dollars, 250,000 pair at 50 cents,
125,000
Fine shoes, above the value of 1 dollar 75 cents, 100,000 at 10 cents,
10,000
Plated harness in the hands of the owner, 50,000 pair, at 2 dollars,
100,000
On the manufacture of paper; on vats exclusively employed in making white paper, 50 dollars; on vats employed in making part white & part brown, 30 dollars; on vats exclusively employed in making brown paper, 15 dollars, 8000 vats averaged,
240,000
On nails made by the aid of machinery, 50,000,000 lbs. at 1 cent,
500,000
On saddles under 10 dollars value 50 cents; over 10 & under 15, 75 cents; and above the value of 15 dollars, 1 dollar,
100,000
On bridles of less value than 2 dollars, 10 cts; 2 dollars and under 5, 50 cents; 5 dollars and under 10, 40 cents; above 10 dollars, 1 dollar.
100,000
Pleasure horses kept exclusively for the saddle, 1 dollar; horses kept exclusively for the carriage, 1 dollar 50,
150,000
Gold watches, 250,000, at 2 dollars,
500,000
Silver Watches, 250,000 at 1 dollar,
250,000
Playing cards, 400,000 packs, at 25 cents,
100,000
Lotteries, 2 per cent. on the amount,
50,000
11,635,000
Add the revenue of 1815, as estimated by the Secretary of the Treasury,
10,800,000
Makes for 1815, a revenue of dollars. 22,435,000
HOUSE OF REPRESENTATIVES.
THE BUDGET.
REPORT OF THE COMMITTEE OF WAYS & MEANS
The committee of Ways and Means, to whom was referred so much of the message of the President of the United States as relates to the finances,
REPORT.
That taxes, loans & treasury notes, appear to be the resources on which we must rely for carrying on the war. The produce of the first, cannot be commanded in time to meet the immediate demands on the treasury—reliance on loans, in the present situation of this country, would be uncertain, and the terms on which they would be obtained not such as to induce a resort to them at the present moment—(Treasury notes, combined with a system of taxation more extended than the one heretofore adopted, will, it is believed, in the present state of bank credit, be found to be a much better resource. The want of some medium, which, resting on a firm and solid basis, may unite public confidence, and have a general, instead of a local circulation, is now universally acknowledged. The stoppage of specie payments by the principal banks of the middle states, has embarrassed greatly the operations of the treasury, and by confining the circulation of notes to the limits of the states within which they are issued, has deprived the government of all the facilities of money, which was afforded while public confidence gave to bank notes a general circulation. The notes of New-York and Philadelphia will not be received in Boston; the notes of Baltimore, or of the District of Columbia, will not answer for payment in Philadelphia. If, by any new modification, treasury notes could be made to answer the purpose of a circulating medium, between the different states, they would greatly facilitate the operations of government, & relieve from embarrassment the transactions of individuals. To secure their circulation, it would be necessary, 1st. To issue the notes in sums sufficiently small for the ordinary purposes of society. 2d. To allow the individual who holds them to fund them at pleasure at any of the loan offices, and to receive their amount in stock of the U. States, bearing an interest of 6 per cent. 3d. To make them payable to bearer, and transferrable by delivery. 4th. To make them receivable in all payments for public lands and taxes. 5th. To pledge, for the payment of the interest on the amount issued, so much of the internal duties as shall be necessary. To prevent an accumulation of circulating medium, the U. States to retain the power, on giving six months notice, of redeeming them with specie, or exchanging for them stock, bearing an interest of 6 per cent. If those provisions are adopted, and taxes imposed, which shall manifest clearly the ability of the government to meet its engagements, our present difficulties will vanish, confidence be restored, and the capital, hoarded by avarice, or locked up from timidity, will be again restored to the accustomed channels of circulation.
In presenting additional objects of taxation, care has been taken to select such as will bear equally on every portion of the community. In Europe, the price of agricultural products is not materially affected by a state of war: the produce of the earth is there consumed within the country.
The committee deem it unnecessary, at present, to present any view of the expenditures for the next year, reserving a report on that subject, until the estimates from the treasury shall be forwarded. Confining therefore, this report to the additional taxes, necessary for the support of the public credit, they submit the following resolutions:
1. Resolved, That it is expedient to continue the direct tax, and to increase the same fifty per cent.
2. Resolved, That it is expedient to increase the duty on spirits distilled, by an additional duty of twelve and a half cents on the gallon.
3. Resolved, That it is expedient to add one hundred per cent. to the present duty on sales at auctions.
4. Resolved, That it is expedient to add fifty per cent. to the present duty on the conveyance of papers and letters.
5. Resolved, That it is expedient to impose a duty on the following articles, viz. manufactured tobacco and snuff, in the hands of the manufacturer: candles, of tallow and sperm macetti; hats; cotton yarn, spun by the aid of machinery, worked by steam and water; leather; pig iron; castings; bar, rolled and slit iron; and on nails made by the aid of machinery; on furniture above a certain value, except beds, bedding, & articles of domestic manufacture, in the hands of the owner; beer, ale and porter, in the hands of the manufacturer: boots and shoes above a certain price, in the hands of the manufacturer; on plated harness, in the hands of the owner; on vats for the manufacture of paper; on saddles & bridles, above a certain price, in the hands of the owner; on gold & silver watches, in the hands of the owner: on pleasure horses, kept exclusively for the saddle or carriage; on playing cards, and on lotteries.
Estimate of the amount of the proposed increase, and of the new duties.
50 per cent, on the direct tax,
$1,500,000
Additional duty on distilled spirits,
3,000,000
100 per cent. on the present auction duties,
150,000
50 per cent on postage,
200,000
Manufactured tobacco and snuff, 10,000,000 lbs. valued at 4 cents,
40,000
Candles of tallow 6,000,000 lbs. at 2 cents;
120,000
Spermaceti & white wax 400,000 lbs. at 10 cents,
40,000
Hats— beaver 1 dollar, castors, 75 cents, and russia 50 cents, payable by manufacturers,
600,000
Cotton yarn, spun by aid of machine, y worked by steam or water, 400,000 spindles, at 25 cts.
100,000
Leather—sole, neat's, harness, calf, horse and hog, kid and seal skin, 18,000,000 lbs. averaged at 3 cents,
540,000
Goat and sheep skins tanned with alum, or otherwise to resemble Spanish leather, at 50 cents the dozen, and all other skins tanned or dressed with alum, averaged at 3 cents per lb,
60,000
Iron, 300,000 tons of pig at 1 dollar,
300,000
100,000 tons of castings, at 1 50 cents,
150,000
100,000 tons of bar, rolled and slit, at 1 dollar,
100,000
On beer, ale, and porter, 6,000,000 gallons, at 1 cent,
60,000
Furniture tax, excluding beds, bedding, kitchen furniture, carpets and curtains of domestic manufacture, and family pictures and excluding also from the operation of the tax, every person whose furniture, exclusive of the above articles, does not amount to 200 dollars. The estimate is made on a supposition that the U. S. contains 800,000 families,
Families exempt, as possessing less than $200 worth of furniture, 250,000,
Possessing between 200 & 400 dols. 500,000 at 1/2 per cent
300,000
400 & 600 do 100,000 at 1 1/2
150,000
600 & 1000 do. 75,000 at 3
225,000
1000 & 1500 do 25,000 at 6
150,000
1500 & 2000 do. 15,000 at 10
150,000
2000 & 3000 d. 10,000 at 17
170,000
3000 & 4000 do. 10,000 at 28
280,000
4000 & 6000 do. 15,000 at 45
675,000
6000 & 9000 do. 5,000 at 75
375,000
Above 9000 do. 1,000 at 100
100,000
Boots, white top and full dress military boots, 10,000 pair, at 75 cents,
75,000
Other boots or bootees of the value of 8 dollars, 250,000 pair at 50 cents,
125,000
Fine shoes, above the value of 1 dollar 75 cents, 100,000 at 10 cents,
10,000
Plated harness in the hands of the owner, 50,000 pair, at 2 dollars,
100,000
On the manufacture of paper; on vats exclusively employed in making white paper, 50 dollars; on vats employed in making part white & part brown, 30 dollars; on vats exclusively employed in making brown paper, 15 dollars, 8000 vats averaged,
240,000
On nails made by the aid of machinery, 50,000,000 lbs. at 1 cent,
500,000
On saddles under 10 dollars value 50 cents; over 10 & under 15, 75 cents; and above the value of 15 dollars, 1 dollar,
100,000
On bridles of less value than 2 dollars, 10 cts; 2 dollars and under 5, 50 cents; 5 dollars and under 10, 40 cents; above 10 dollars, 1 dollar.
100,000
Pleasure horses kept exclusively for the saddle, 1 dollar; horses kept exclusively for the carriage, 1 dollar 50,
150,000
Gold watches, 250,000, at 2 dollars,
500,000
Silver Watches, 250,000 at 1 dollar,
250,000
Playing cards, 400,000 packs, at 25 cents,
100,000
Lotteries, 2 per cent. on the amount,
50,000
11,635,000
Add the revenue of 1815, as estimated by the Secretary of the Treasury,
10,800,000
Makes for 1815, a revenue of dollars. 22,435,000
What sub-type of article is it?
Politics
Economic
What keywords are associated?
Congress
Budget
Taxes
Treasury Notes
War Finances
Direct Tax
Duties
Revenue Estimate
What entities or persons were involved?
Committee Of Ways And Means
President Of The United States
Secretary Of The Treasury
Where did it happen?
United States
Domestic News Details
Primary Location
United States
Event Date
1815
Key Persons
Committee Of Ways And Means
President Of The United States
Secretary Of The Treasury
Outcome
estimated total revenue for 1815: $22,435,000 from proposed taxes and duties.
Event Details
The Committee of Ways and Means reports on war finances, advocating treasury notes as a circulating medium and proposing resolutions to increase direct tax by 50%, duties on spirits, auctions, postage, and impose new duties on tobacco, candles, hats, cotton yarn, leather, iron, beer, furniture, boots, shoes, harness, paper vats, nails, saddles, bridles, horses, watches, playing cards, and lotteries.