Id. 75. 144.

imported goods and merchandise. Story's Const. 952. Abridgment, § 472. Burrill's Law Dic. IMPOST. In a large sense, any tax, duty or imposition. Id.

144.

77. EXCISE. An inland imposition upon commodities, charged What are in most cases on the manufacturer. 2 Steph. Com. 579. A duty, excises? or tax on certain articles produced or consumed at home. Wharton's Lex. EXCISE. 1 Bl. Com. 318. It includes also the duties on licenses and auction sales. 2 Steph. Com. 581; 3 Id. 314. And see Story's Const. § 953. Andrews Rev. Laws, § 133; Burrill's Law Dic. EXCISE. 2 Elliot's Debates, 209. Generally the opposite of imposts. Story's Const. § 953.

does a license con

Licenses under the act of June 30, 1864, "to provide internal What revenue to support the government, &c." (13 Stat. 223), and the authority amendatory acts, conveyed to the licensee no authority to carry on the licensed business within a State. License Tax Cases, 5 Wal-fer? lace, 462. The requirement of payment for such licenses is only a mode of imposing taxes on the licensed business, and the prohibition under penalties, against carrying on the business without license is only a mode of enforcing the payment of such taxes. The provisions of the act of Congress requiring such licenses, and imposing penalties for not taking out and paying for them, are not contrary to the Constitution or to public policy. Id.

The provisions in the act of July 13, 1866, "to reduce internal taxation, &c." (14 Stat. 93), for the imposing of special taxes, in lieu of requiring payment for licenses, removes whatever ambiguity existed in the previous laws, and are in harmony with the Constitution and public policy. Id.

The recognition by the acts of Congress of the power and right 73. of the States to tax, control, or regulate any business carried on What is the within its limits is entirely consistent with an intention on the part power of the of Congress to tax such business for national purposes.

States?

A license from the Federal Government, under the internal revenue acts of Congress, is no bar to an indictment under a State law 267. prohibiting the sale of intoxicating liquors. The License Tax Cases, 5 Wallace, 462; Pervear v. Commonwealth; 5 Wallace, 475.

But very different considerations apply to the internal commerce What are or domestic trade of the States. Over this commerce and trade the exclu

the States?

Congress has no power of regulation nor any direct control. This sive rights of power belongs exclusively to the States. No interference by Congress with the business of citizens transacted within a State is warranted by the Constitution, except such as is strictly incidental to the exercise of powers clearly granted to the legislature. Pervear v. Commonwealth, 470, 471.

The provisions in the act of July 13, 1866, "to reduce internal taxation, &c." (14 Stat. 93), for the imposing of special taxes, in lieu of requiring payment for licenses, removes whatever ambiguity existed in the previous laws, and are in harmony with the constition and public policy. Id.

The recognition by the acts of Congress of the power and right of the States to tax, control, or regulate any business carried on within its limits is entirely consistent with an intention on the part of Congress to tax such business for National purposes.

A license from the Federal Government, under the internal revenue acts of Congress, is no bar to an indictment under a State 267. law prohibiting the sale of intoxicating liquors. (The License Tax Cases, 5 Wallace, 462 affirmed.) Pervear v. The Commonwealth,

5 Wallace, 475.

A law of a State taxing or prohibiting a business already taxed of prohibitby Congress, as ex. gr., the keeping and sale of intoxicating ory laws? liquors, Congress having declared that its imposition of a tax should not be taken to abridge the power of the State to tax or prohibit the licensed business-is not unconstitutional. Id.

debts?

78. "ΤΟ PAY THE DEBTS." The arrangement and phraseology What means (connected with what follows) shows that the latter part of the to pay the clause ("To provide for the common defence and general welfare, ") 79, 80. was intended to enumerate the purposes for which the money thus raised was intended to be appropriated. (President Monroe's Message of 4th Dec. 1822.) Story's Const. § 978-981.

This power to collect taxes, imposts, and excises, subjects to the call of Congress every branch of the public revenue, internal and external. (Monroe, Id.) Story's Const. § 981. And these powers give the right of appropriating to the purposes specified, according to the proper construction of the terms. Id.

74-77.

Statement of the public debt on the 1st day of January in each of the Examine the years from 1791 to 1842, inclusive, and at various dates in sub- statement of

sequent years to July 1, 1866.

On the 1st day of January....1791.

the public debt?

1792.

....

77,227,924 66

Report of Secretary of Treasury on the Finances, p. 304.

The following is a statement of the public debt, June 30, 1866, exclusive of cash in the Treasury :

Bonds, 10-40's, 5 per cent., due

in 1904......

$171,219,100 00

6,042,000 00

in 1882, 1884, and 1885.....

722,205,500 00

The foregoing is a correct statement of the public debt, as appears from the books and Treasurer's returns in the Department,

on the 1st of November, 1867.

THE PUBLIC DEBT STATEMENT.

WASHINGTON, Νον. 6, 1867,

11:30 o'clock, P. M.

}

The following is the statement of the public debt of the United States on the 1st of November, 1867:

MATURED DEBT NOT PRESENTED FOR PAYMENT.

Three-year seven-thirty notes, due August 15, 1867

Compound-interest notes, matured June 10, July 15,

August 15, and Oct. 15, 1867.

Bonds of Texas indemnity.

Treasury notes, acts July 17, 1861, and prior thereto

Bonds, April 15, 1842..

Treasury notes, March 3, 1863.

Temporary loan...

$ 3,371,100

9,316,100

262,000

163,661

54,061

868,240

4,168,375

Certificates of indebtedness.

Total...

34,000

$18,237,538

Amount of debt, less cash in the Treasury.......$2,491,504,450

HUGH MCCULLOCH,

Secretary of the Treasury.

Report of the Secretary of the Treasury on the finances, p. 25. There has been some diminution of the public debt since the promulgation of this report.

Whatever may have been the theories and controversies about the powers of Congress to levy taxes for other purposes than to pay the debts of the United States, and as to whether indirect or direct taxes are most equal and just, it is certain that the enormous debt now existing, together with the necessarily increased expenses of supporting the government, will afford a fair opportunity of giving a trial to every mode of raising revenue. DEBTS have been contracted. The great future question is, how shall the power to levy TAXES, &c., be most wisely exercised in order to pay them?

The