The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1845-06-14


not been listed for taxation, is TO be returned by
him TO the assessor. II not returned capital in
trade, the horses and cattle should be listed by the
assessor the horses at $40 each and the cattle al
SsS each, and returned as other horses and cattle.
If returned by the assessor capital in trade only
half the amount will be placed on the duplicate for
taxation Lire hogs, beef cattle and sheep, pnr-
chased 10 be Sidughtvedby The buyer himself, are
not tdrabie as capital in trade.
"The capital employed in the business ofpur-
chasing and selling wheat corn, pork, wool, or
other personal property, for the purpose of making
profit thereby is taxable; and such property, own
ed or in the possession of persons engaged in such
business, must be included in their statement; and
assessors should be careful TO give the proper
cc 10 all persons engaged in such business, and to
require from them statement under oath. lfthe
owner or person having the property in possession,
refuses to make the statement under oath the as
SCISSOR must ascertain the amount from the best
evidence he can obtain, as prescribed in the 9Th
section.''
1t will be seen by this that Mr.. Archbold must
abandon his defence of this law. But even sup
posing that droves were not taxed, the law con-
tains the very same kind Of feature in another
particular, and Mr. Archbold, according to prom
ise, must "give up its defence" The produce
dealer of Marshall county, Va, comes into this
county and buys wheat, potatoes, whiskey, corn,
tobacco, SC, and our law cannot reach him. But
if the produce dealer of our county invests his cap
ital IN the same articles, he "pays the piper"
The law works manifest injustice in this, that
owing to the tax upon his capital our dealer can
not afford TO pay as much for the produce ofthe
farmer as the trader from Virginia Is Mr.. Arch
bold now "convinced of his error by argument"
Is he now "ready to ret-lct?"
We confess we have not been able to see the
force of Mr.. .Achbolds remarks in relation to
banks and bankers Our earliest knowledge on
this subject has taught us, that capitalists will in
vest their money in whatever business will pro-
duce to them the greatest amount OF interest or
profit. Ifby the passage of any law. money be-
stock than in any other business, certain 1t is that
the holders will so invest it; and as ''the spirit of
the bankers is essentially the spirit of exclusive
ness and monopoly" that exclusivenes and mon
opoly can only be obtained by union and associ
alton of wealth; and so long as larger amount Of
capital is put in circulation Independent of banks,
so long the bankers have not the control of the
currency of the country, and it becomes their in
terest 10 ''drye people to banking" so that "ex-
clusveness and monopoly may be obtained -
Hence the capital of bankers is exempt from taxa,
tion by this law.
We cry much regret TO furnish the medium
through which the democratic party are to be as
we do so, may be seen by the follow
ing article which we copy from the Cadiz (whlg)
Republican: Yet did we not publish Mr.. Arch
bold's articles, we would be censured for unfair
mesa.
"RIcI The tax law is much mooted ques-
ton, and has been assaied by the loco-focos in a
manner truly laughable. Their members of the
Legislature, "a large number of them,) gave il
their support and sanction; yet their press endeavor
to make il purely Whig law. Mr.. Archbold,
of Monroe, (the banner locofoco county, voted
for the bill, and is disposed to regard the course Of
some of his loco-foco brethren in relation to the
law, dishonest IN the extreme. In his defence,
which appears in the locofoco organ of Monroe,
he speaks as follows which is decidedly rich:
GAS the new law to tax capital In trade and
money at interest, received a very large propOr
ton Of tMe d. mOcraiic Delegation ii lie ..lGsG :!
It's right that it should have a
fair hearing before it Is condemned | say oery
large proportion ofthe Democratic delegation, and
speak without the least fear Of successful con-
for the p'nitch .1fngda!encS, who, at
the heck and nod of the Columbus Clique, changed
their votes after the final passage of the bill, in
reality voted for and secured that final passage as
much as did"
"What (says the JournaD do the loco-foco pa
pers think OF this authority to the votes Of their
friends in the House' Win they charge Mr.. Arch
bold with falsehood? They have affirmed again
AMI again that the tax bill was Wing measure,
passed by Whig votes almost exclusively. Mr. |
Archhod says that it received the support of a
every large proportion OF the Democratic deega-
ton in the House Of Representatives, including |
himself"