The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1845-04-26
For The Spirit of Democracy.
THE NEW TAX LAW.


upon the late ''act TO tax money at interest and
capital in trade," by the president of the broken
Bank of Hamilton; and as was present at the
debates in the House of Representatives, and OBJ
served all that was going on, feel able to form
my own opinion, as to the proper construction of
that act, as the broken bank president, who is not
a ld,oyer, is 10 form one for me. Mr.. John Woods,
president Of the aforesaid bank, in his instructions
to the county auditors, asserts that the credits
| arising from the sale of personal property at pub
lie vendue are liable to be taxed under this law.
The law itself does not siy SO; it says directly the
reverse it says in substance that the credits arising
from the sale of land and personal property shall
not be taxed unless in the OF personal proper
ty the parties shall choose to turn the Transaction
into loan by giving long ere dit and letting the
money lie at interest In fact, as the law stands,
the notes, bonds obligations, given for land, or
personal property sold IN the ordinary course of
business cannot be taxed in the hands of the orig
ina creditor But John Woods has taken it into
his head that sale at vendue is not in the Ordina-
ry course of business. Let us see whether this
notion of his has any foundation in fact. All
statutes the SUBJECT are to be construed in
reference TO each other. BY the"act regulating
sales at auction" all persons authorized to sell
utensils of husbandry, household furtiture, real
estate, produce, horses, Sheep hogs and cattle, at
public outcry, and auction, without calling upon
licensed auctioneer This then is an ordinary and
legally recognised mode of disp osing of such pro-
perty. And in the case of an executor or admin
istrator, the law will permit other mode Of sale,
he must sell at public outcry and auction. In his
case, therefore, public vendue is not only the
ordinuy course of business but it is the only
course which he can adopt A private sale, in
such case would be extraordinary.
If this be true, and surely none will be hardy
enough to deny it, the bank presidents nslruc-
tions are just as false as the Alcoran. t
The truth is, that neither our mechanics nor our
farmers have any thing to do with this act, in their
capacity of met hanics or farmers. The farmer
may sell any amount of produce or property,
without subjectiDg himself to any tax, unless he
chooses to leave the money at interest by giving
long original credit And where is the blacksmith
who keeps OH hand hundred dollars worth of
iron, or the shoemaker who keeps on hand the
same amount of leather, or the cabinet maker or
saddler, who keeps on hand any such amount of
mater als? There is not one such in the county
1t is true if any of them is able to have money lent
at interest, he will be liable TO the tax as capital
ist; but OF all men in community money lenders
are best able to pay taxes It is indeed tax upon
cash capital and this will explain the reason why
it is unpopular in Cincinnati and Columbus; but
are the eastern counties to have no opinions of
their own? Are we to raise an outcry because
the rich capitalists in Hamilton and Franklin, are
about to be compelled to contribute little to those
public necessities whchithey have had so great an
agency in creating: Ought not the very flct that
this law is unpopular in the rich city of Cincinna-
ii TO speak volumes to us7 Is it our interest that
she is studying, or her own! Cincinnati, whose
citizens have so often boased that they have banl-
'entatives have been so ready to vote those i'm
nense appropriations for canal specuations, that
now render enormous taxes necessary And that
because every thing centres in the Miami valley,
md they were getting the largest share Of the
)lunder
The truth may be told in few words. This State
s twenty millions of dollars in debt; our canal
ak stands with regard to our regular government
ak in the proportion of six or seven to one, the
State authorities have been borrowing money at
interest to pay interest, thus rapidly compounding
he debt and after all exertons the defalcation in
The payment of the interest on our State debt has
cen largely more than million and half in the
asst FIVE or six years; and this deficit has been sup
,lied by the most miserable and the most costly
xpedients. Millions and millions of dollars have
een borrowed from men, who actually advanced
he money, and who ough! to be repaid and have
'een spent upon men as unworthy as any that the
un looks down upon in his course, and who ought
lever to have received the punder. In this state
II affairs one Of two things became inevitable;
ther higher tax must be laid on lands and hou-
es, cattle and horses, or the money capital OF the
ountry must be brought in to bear part Of the
urthen which has hitherto been borne almost
by the four species Of property
boye named. Farmers of Monroe, will you canr-
r for higher tax upon your farms and upon your
york cattle norder that the rich capitalists of Gin
innati and Columbus may hold immense property
lear of all taxation' In order that you may un-
erstand the operation of the system will bring
0 your notice the case of worthy man in whose
ouse have spent several months. This gentle
IAN has in his house at least three hundred feath-
: beds. and as they are costly, it is moderate
stimate to compute that each bed with its fxngs,
worth at least three taxable cattle, and, il the
smainder Of his stock for hotel keeping is worth
Q more than his beds. he has in his house furni-
ire aud property worth The price OF eighteen hun
red cattle. Yet for all this property he has not
itherto paid one cent of public taxes, and only q
'fiing sum for license 10 the county Of Franklin.