Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1846-08-26
.lpoIuifal..
DR.. Odds On the Tax Law. 4

DR.. 0lds on the Tax Law.
We take pleasure in laying before oura
readers second article on ghe Tax Law
from thepowerfuI pen Of ps LIS. TAI
IS following up tue well difirs scted Blow fivs
en- last week, and demonstrating In the most
clear and emphatic manner, the inequali- \
ties Of the system of taxation sought to be
fastened upon the people of Ohio by the
Wings. Mr.. DLDs speaks weightily from
the prominent part which he took in all the
discussions on the Tax Law. His articles
should be read everywhere; and we hope
he will continue their publication, and han
die the subject in all its branches with his
usual Skill Statesman.
Frnm the Circleville Watchman.
Mr.. EDrroR:-In your last paper, | en-
deavored to show that the whig Tax Law
was unequal, unjust and iniquitous. DEM
onstrated the fact, from official returns, that
the old banks, for period Of nine years,
only paid tax equal to three and half
mills upon the dollar; and that had they
been taxed at the same rate as the banks
are under Keley's banking law, their ave.
rage tax would have been only four mills
and two tenths of mill upon the dollar.
In that communication, | also demonstrate
ed the fact, that the citizens of Circleviile
paid upon their taxable property twenty
mills upon the dollar; and allowing that
they were taxed only upon the one half Of
the value of their taxable property, still
they would be required to be taxed more
than twice as much as bank capital; and
that bankers, in paying a tax of six per
cent. upon their profits, must make thirty
three and one third per cent profits upon
their capital yearly, in order to require
them to pay a tax equal to twenty mills
upon the dollar, that being the amount re.
quired of other citizens.
wish, in the present article, to call the
, attention of your readers to some addition.
al facts, still further illustrating the inius-
tice and iniquity of the present whig tax
law. r.
Let it be recollected, that according to
whig doctrine and whig admissions, the
whig party in granting the present bank
charters, have bargained with bankers, that
during the life of their charters, period
Of twenty years, they shall only be taxed
six per cent upon their profits Let it be
further recollected, that if this doctrine be
true, no public calamity may fall upon us
and no matter how much our taxes may be
required to be increased, either to preserve
our State credit, to repel a foreign foe, or
to quiet and put down internal rebellion,
the tax on bank capital cannot, dare not be
, increased. The trucking and servile spir-
it Of whiggery has bargained away this
prerogative of the people. Let still anoth-
8 erfact be borne in mind: That the last Leg
I slature, in defiance Of the interests of the
! people, and in violation of oft repeated pledg-
: es Of economy, voted an appropriation for
3 commencing new State House, that in the
> end will not cost the tax payers Of Ohio
: less than half million of dollars; that last
winter they created new State officers with
extravagant salaries; and that they enor
mously increased the public expenditures
/ by increasing the pay almost every Stat
n officer, nearly one fourth; and your read
n ers will at once perceive that their take
must necessarily be vastly increased. Fo
n this reason, the new tax law was demand
i ed; new objects Of taxation must be bro
# upon the tax list, and if possible, a larger a
mount Of revenue must be raised from OBJ
iects already taxed. Yet the whig party
q not only refused to incsease the tax on bank
!. ers, in the same proportion that they have
increased the tax upon all other classes ii
the community, but they also taunt and in
:. suit US, by telling us that they have mad
= % bargain with the bankers, that for a per
\ \ cd Of twenty years, come peace or wal
i come prosperity or adyersity, the tax Q
= banks shall not be increased.
:, Equity and justice so clearly deman
,u !, that bankers should be taxed the same b
~ other individuals, that the honest portion
n, the whig party admit the correctness of Il
y doctrine. But having been told by the
:, leaders, that the whig party would ia
y banks as they tax other individuals, if the
O. had the power, they are too often dispos
to credit the assertion, without investigs
ing the facts. | propose, then, briefly
ne examine two facts connected with ii
u branch Of the tax law. And first, that y
have the power to change the tax upt
o. banks; and, secondly, that ifthe leaders
an the whig party believed they had the powe
lat they would not increase or change the u
upon bankers. g
do not propose any legal Or constlt
O. tional argument in favor Of my tirst proP,
, sition, that we have the right to change \
in, tax upon bankers; 1 only propose TO 81
one common sense view Of this positio
and demonstrate what the whig party ha
power to do, by what they have alrea'
done. That portion Of the Goth section