23 APRIL 1870, Page 3

It is said to be almost certain that the American

income-tax will disappear next year. For this year it is to be reduced to 3 per cent., and even this compromise was with difficulty accepted by the Senate, where, it must be remembered, the Protectionist party dislikes all direct taxes, not because they are heavy, but because they make tariffs light. If they could only abolish them all, and then plead that custom duties of about 100 per cent. were indispensable to maintain the Government credit, they would begin to be comfortable. It should not be forgotten either, that American statesmen distrust their people, and insist that the tax must either be abolished or the incomes of those who pay them. must be published.