The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1845-09-17
Getting Alarmed.

The federal papers are becoming alarmed tor
may, for they find that the honest and well-meanr
ing in their own ranks speak out against it eve
.rywhere. There are few provisions in this law,
or "redeeming qualities, as the wings call them,
to which no person, we presume, will object
What is right in it we shall not oppose, but
against its iniquitous and unjust provisions we
shall wage war, while we have power to WELD
pen. The wings have much TO say in regard to
-"money at interests which this law reaches, and
introduce tables to show that the amount re-
turned this year by the assessors doubles that of
last year. Granted. But what does all this prove?
Just that the law has one "redeemng quality!'
That taxation should be equal, no person will
pretend seriously TO deny. There should be no
privileged classes in communty-no favoritism
shewn to one man more than another. Ii is the
savortism and inequalities of the Tax law that
the democratic party find fault with. For in
stance, an industrious farmer or mechanic sue
ceeds in saving $500, after toiIing late and ear
ly, and having no immediate use for it, he lends
it to his neighbor, and of course pays the state
certain tax thereon. Another individual has
S2,5Oo locked up in his safe, and being we'll
aware that if he loans it out at interest, every
cent will be taxed he concludes to buy bank
stock, knowing that his profits or dividends only
will be taxed. Now these bankers are very
shrewd and cunning men, and sometimes sue
ceed in evading taxation altogether! The way
they do it is this: The stockholders and drec-
tors of a bank have meeting in the bank par,
lor, and after quafing few dozen of cham
paign, 0hese bankers generally are fond of gooo
liquorD they agree among themselves, that al
though the bank is making money rapidly, ye
instead of being divided among the stockholders
are retained by the bank, and credit therefor il
given to the stockholders, as so much money
paid in upon stock notes. This kind of tricl
was practsed by that federal swindIing shop, tht
farmers Bank of Canton, few years ago, a
we'll as other banks in this State, and had it no
been for the fact that the Auditor of State was
democrat, the matter would never have been no
tced. In this manner it will be seen the rc
banker may cvade taxation. The effect of al
this will be, that men who have money at in
terest will be induced 10 take stock in Afre
KelIey's red dog banks, and thus The object c
wing legislation will be attained! Now, we pu
the question to every whig editor, is it fair am
honest and upright and just to tax the farmer
5000 at interest, and not the bankers $2,500?-
The farmer derives but $lS profit, while tn
banker makes about $500, his dividends gene
rally being II per cent, per annum. Here tn
farmer pays precisely the same tax on $500 a
the banker does for $2,000!! And yet there ar
federal editors who have the unblushing effror
terry to defend the law that creates such dstint
tions! Oh, shame where is thy blush! Thei
are other provisions of the Tax law equally as il
famous and anti-democratic, and the federal ed
tors know it WE'LL They know the law is uppol
ular with the people, and hence they are becon
alarmed for its fate.