Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1846-08-19
From the Circleyille Waterman

Mr.. ED1roR:-Your readers are well
aware that 1t is cardinal doctrine of the
democratic party, that all species of wealth
should be subjected to the same system of
taxation. If, therefore, our state authori-
ties shall determine to tax the profits or
increase of property, all kinds of property
should thus be taxed. If they determine to
tax actual capital, without regard to its prof
its or increase, then all kinds of property
should thus be taxed, equal laws and
equal privileges is democratic MAXIM
and one which, as party, we can never
depart from, without marring the beauty
and excellence Of the democratic creed.
Gen. Jackson has beautifully expressed his
sentiment in the following quotation
namely, "The blessings of good govern
ment, like the dews of heaven, shoulc
descend alike upon the rich and the poor"
| The wings, in adopting the tax law o
last winter, have departed from this demo
cratic equality, and subjected one portion o
the property of the state to be taxed accord
ing to its true value, without reference to its
productiveness, and another portion to be
taxed upon its profits only, without reference
to its actual value. Now, then, that this
law is anti-dcmocratic, and subversve OF
one of the great fundamental principles Of
our government-the pinciple ofequality.
Our political opponents, inthe tax law Of
last winter, have imposed upon us a system
of taxation that taxes our farms. our mer-
chandise, our workshops, our cattle, our
horses, our hogs, our sheep, our household
goods, our money, our credits, &C., &C.,
according to their actual value, without any
reference to their profits or productiveness,
at the same slime it taxes banking capital
only on its profits. I" Y
Now, sir, in order that we may fully un-
derstand the injustice, the inequality, and
permit me to say, the iniquity Of this whig
measure, propose to examine briefly its
practical operations.
Ten men in this community, may invest
one hundred thousand dollars in merchan-
disc, or in manufacturing, or in farming
1t is no uncommon thing for the merchant
to meet with losses, and at the end of the
year to find that he has made no profit
The mechanic and manufacturer may fine
an overstocked market for the sale of theil
manufactured articles, and instead Of 6
profit, find themselves compelled to sell al
an actuaT loss : and instead Of having made
money, and they may find at the end of the
year, that they have actually lost portion
of their capital. The farmer may find the
season unfavorable for his crops, his wheat
may have been destroyed by the rust or fly
his cattle may have died with the murrain
or his sheep with the rot: or an over pro
ductive season, may have depressed thu
price of his produce, as is likely to be th'
case this season; and at the end of the yea
he may find that he cannot get his produc'
to pay for the tillage and the keeping Q
his farm in repair; yet under this whig sys
tenn of taxation, all these classes of citizen
must pay rs much tax, when they lose, q
when they make money. .,...,
Again: another ten individuals may ow
one hundred thousand dollars worth {
stock in the Bank of Circleville. Thi
bank may have done large amount {
business upon bills Of exchange drawn upo
Peter 1. Nevis & Sons who have failed, {
they may again be deceived, and anotht
twenty thousand dollars upon the forge
paper of Benjamin Rathbun; and thus
the end of the year, they too may hav
: mnde no profits upon their capital; and th
whig law would consequently exempt thei
from taxation upon their one hundred thou'
7 and dollars and in order to make up tn
/ deficiency in the amount Of the public re'
J, cnue, increase the amount assessed upo
n the farmer, the merchant and the mani
d facturer, in the same proportion. Am