Repeal Of The Income Tax

-There will be a proposition betore tne Financc Oommitteo of the Setiate, aod probably before tbe Committee of Ways and Means of tbe House, to reduce national tuxaúon to a point that will yicld no more rever.ue than what ia suflieieut to pay tbe expenses of the Goverument, iucluding interest on the public debt, nnd a siüking fund lor the principal. It Í8 expected tbat tbe proposed roduction will be great enougli to allow of the repeal oí' the Iueoma Tax. 'j'here are inany reasoos vvhy t-his particular form of tax should be withdraSvn at tbe earliest possible opportunity. Iu ita nature its collection is vexatious, beoause tbe means which the assessors areobliged to use to get full and true returns are, to a large degree, inquisitrrial. It is, in fact, the most objectionable form of tax, and it is only resorted to n Great Britüin, from which country we copied it, as a revenue du-ring the continuance of ibe war. As soon as the pressure for money is over, this tax is taken oiF. The news that it is likely to be diepensed with iu this country vviil thereforo be