The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1846-08-15
From the Cincimaii .7duerfiser.
The Tax Law.

of its predecessor, DISCRIMINATION be-
tween the items composing wealth, up
on which taxation should be laid. We
do not care, at present, to depart from
the general principle, to discuss details,
although these might, perhaps, more
clearly and forcibly demonstrate our
proposition. The theory Of this mode |
Of taxation, as indicated in the title OF
the bill, and carefully carried through
all its provisions, is to tax all property,
at its actual cash value. Our theory is
to lay taxes upon all ,cealth, ,-n no mat.
ter what its form,--or to use more
homely and significant expression, 10
tar erery man upon just what he IS
Dorth an the World,-from his state
stocks, down to the money in the bank
er's vaults, or his own breeches pock-
cts. This is the rule Of equality; and
whenever tits departed from, in pur-
suit Of tangible property as a basis of
taxation, inequality is produced, In
justice is done, by changing the public
burthens,- labor is taxed for the bene-
fit OF money and not the least Of all
else, an inducement is held out to evade
the laws,-a bonus given to fraud.
The Drayman in the street, cannot,
if he would keep his horse and dray
from the sight Of the Assessor; and yet
the day it is listed, citizen Of more
ample means has that which would pur-
chase fifty horses and drays, to his cred
it in the bank, quietly awaiting the first
good speculation in the products OF the
country, or the humbugs of the day.
The latteris not taxed, and why? Be-
cause it is n OF property, which the law
follows, but MONEY; in favor OF which
the law discrimnates. The manufac-
turer cannot cover up his buildings, or
machinery,-or even his stock in trade;
they are subject to tax:-and yet his
neighbor who lives upon his means. is
quietly drawing and pocketing his 25
per cent upon stock in the manulacto-
ries of New England, the Iron fur
haces in Kentucky or Pennsylvania;
and it may be, ere long, the copper
mines of Isle Royal. Is there, in all
Justice, any more reason why the one
of these should be taxed, and the other
90 free? Any thing at all, beside the
absurd policy of,he law, that labor and
enterprise shall bear the burthens OF
Government, that money may enjoy It's
protection!
Again. the man who lends thous-
and dollars to his neighbor at 6 per
cent, and takes mortgage upon his
farm for security, finds himself upon the
tax list to this extent; but his more
opulent and shrewd neighbor, on the
other hand, has his Eastern broker, or
correspondent in New York; loans his
money there, draws his 6 per centupo
his bonds and mortgages, and instead
Of paying tax upon his investment, puts
the profits in his pocket, with the ad-
dition of exchange, at the rate of one
to one and a half per cent. Is this
equalityl Is this justice?
Still again,-an honest farmer finds
his sons coming 10 mems estate,-the
old homestead is not sufficient for them,
he gathers some means together, goes
up into Allen, Putnam Or Pauldlng
counties, and buys for them a section
of The Canal lands, and sends them
there to build up homes for themselves.
They are taxed atonce upon theirlands.
whilst the sharp, shrewd, avaricious
speculator, sends his agent off TO Iowa
or Wisconsin to buy up large quantities
of the public lands, to sell again at adj
vanced prices; and gathers in his re-
turns, perhaps one hundred fold, unmo.
Iested by the state authorities. And
so might we run the same parallel be-
tween the individual who loans money.
and is taxed upon his principal, ,--and
The banker who loans his credit, and is
taxed upon his profits, on the one hand;
or the dealer in State Stocks, who by
virtue Of his vested rights, is wholly ex.
empted on the other. And thus might
we continue through all the ramilica.
lions o f wealth; following all the means
which money has devised, in order tina,
il may accumulate cent per cent, and
avoid the burthens of the State. We
should but multiply evidences, where
enough have already been given, Of the
evil efecls,-nay, the arrant injustice
of every attempt at discrimination
among the elements of wealth; anc
demonstrate more at tlength, though no
more fully, the truth Of our position
that cash uuluation as it is termed
based upon tangible property alone, vii
prove more fruitful source Of Unequal
ity; a more powerful agent of mpos
ture, than even the miserable system
that we have abandoned in order tc
embrace the new enactment.