The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1845-10-04

| as yet been SHOWN IN what tnat Salety
consists; and further, we defy the
Chronicle to show it. This st. Clairs-
vile editor calls on "the friends Of good
banks" TO "rally to the support of Mr..
Hunter" Meaning thereby that all
the friends of the banking law of last
winter should rally to the support Of
Mr.. Hunter, of which he is in favor, if
the editor of the Chronicle speaks "by
authority and we presume he does
so, or he would not use the language
he has. By the same process we come
to the conclusion that Mr.. Hunter is
in favor of the tax law of last winter, to
the support Of which the Chronicle has
devoted its best energies;a a law, which
does not in any of its provisions, ex-
tend to banks or bankers, but calls up
on the farmer and the mechanic, who,
by hard labor, have saved and put out
at interest a few dollars, for the one
sixth of their profits, while the banker
pays but the one seventeenth of his
profits. To illustrate this more clearly,
we will suppose that farmer OF this
county has sold four hundred bushels
of wheat for which he receives, cashin
hand, two hundred dollars, and having
no immediate use for 1t, he loans it to
neighbor to purchase himself little
farm, at six per cent. Now under the
law of last winter the farmer is taxed
on the sum of one hundred dollars, and
according to the average per centum Of
taxation levied on each hundred dol
lars in this county, his tax would be
two dollars, or one sixth of his profits;
his nett profits or interest being ten
dollars on the two hundred originally
loaned, after the taxes ire paid. Now
for the banker. He has two hundred
dollars in bank stock on which Gve
hundred dollars are issued. yielding at
six per cent, an interest of thirty dol
lars, or fifteen per cent on the sum orig
inaly invested. The bank then de-
cares in the course of a year divi-
dend of thirty dollars to this banker
with the two hundred dollars invested.
According to the bank law of last win
ter the banker has to pay six per cent
on his profits as tax, which in our sup
posed case would he one dollar and
eighty cents tax, leaving him clear
profit oft,oenty eight dollars and t,oeaty
cents! This tax being about one sew
enteenth of his profits. Such is a spe-
cimen of the "good banks'' and ''just
taxation" of the Chronicle. With this
view of the case how can the people of
Monroe "rally to the support of Mr..
Hunter?'' This is asking little too
much of the people of this county.
When the editor of the Chronicle
speaks of"stability IN Government" he
should remember the disorganizing act
of the wings in dissolving the leglsla,
ture of OHIO, in l842; of the alteration
of Congressional Districts by the last
legislature; and Of the division Of coun-
ties, &c. Had the editor Of the Chron-
icle remepbered these things he would
not certainly, have called on the friends
of STABILITY in Government" to "rally
to the support Of Mr.. Hunter
We call upon our readers to ponder
well this extiact from the Chronicles
TRADE of abuse upon the citizens of
Monroe county: ssLet the friends Of
Mr.. Hunter, then, be up and doing; for
although Mohroe be the banner county |
the day is fast approach
ing when she will stand forth, redeem
ed and educated" We ask the citizens
Of this county if they are prepared to
cast their votes for any man or set of
men who are eternally harping upon
the want Of information in the people
of this county. We now say, and say
it without the fear of successful con-
tradiction, that the people of this coun-
ty will successfully compare in point of
intelligence with the people fBelmont;
and that there are boys of fifteen in this
....a... IL Z. .u ALI .rorxa o., ka nc i1rno |