The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1846-09-26


ofthe federalists s because the banker pays taxes
on his profits Under the law which created the
Bank. But what s the reason of this disparity be-
tween the banker and the uniDcorporated private
indiyiduals Why should the banker pay upon his
profits only, while the farmer is compelled to pay
not only upon The "true value" Of every acre of
his land but upon his orchards horses cattle, hogs
sheep, and even the shade tree that grows at his
door; NOT Dnly upon his sheep, but their wool, If
hekeeps it more than six months; not only upon
his farm, but upon his crops, ifa poor market COM
pels him to keep them more than q year. Idz
lao. sec l3 and IA. Why not have both pay tax
e. upon the true value Of oil they own, or else
upon their profits only! There might be some JUS
tice in the latter Of these alternatives but by hav
ing ope pay taxes upon the 'true value of all he
owns, and the other on his profits only, most rank
injustice ensues. For instance, suppose the bank
er fails to make any thing, 10 he taxsdi Not at
oil, Suppose the farmers crops fail 10 the fall,
and he Is forced to buy flour to feed his family,
and hay and fodder to winter his stock and seed
wheat again in the spring, to sow his fields anew,
are his taxes abatedi Not al all. Profits or no
proffs, his taxes are the same. Is there man who
has q soul or any sense Of humanity, who will say
that this is just What do we mean when we
talk of the privileged class Of Europel Have we
not Lords. and Dukes, and Marquises in the midst
Of Us, in every thing but the nanel and are they
lie 10 our boast ~ eouaI rights and CONVERTING our
fres ;n.ttrt;.ns nta an ar;socracv az rank as anv
in Enrone,
q. mt ri. 4 not The onlv instance in which
lie Il giyen 10 the pronosition with which the law
starts out. II will be remembered that some Is or
20 millions Of stock have been issued by the State.
Of the rich banker and nabob. Tbev have bought
them nm AZ from b, 10 "A, cents On The dollar. and
are now receiving interest upon the full amount Of
the face az tbe bonds. VET thew nav no taxes on
them- not even a., ,he nrofts Of them.
q. Bu, lei he view the subject little closer. 1t
il 10 nav The principal and interest of The stocks
that he tax Is levied. The farmer is taxed upon
every thing he owns. in order that the State NAV
nav tbe bon1-holder. vet The bond.holder il not
called upon 10 bear his share Of The burden. The
farmer has TO bear the burden and heat of the day
and the bond-holder receives the fruit of his labor
The farmer sows. and The bond. holder resps the
fclds and gamers the grain which the farmer has
soyyh
r Z. But there il another item exempted from tax
at,on which shows the true spirit Of ffederas
All iewelry except watches. are exempt from tax
.,;on The rich dandy NAV strut in our streets
with his pold chains and finger rings. and gold
snectacIes: the rich nabob NAV furnish his family
With thousands Of dollars of iewelry. but neither
d.ndv NOR nabob are taxed. The farmer must nav
taYe: not only anon his lands. but also upon .ai
buiIdinrs. structures, and Improvements, trees and
Other fixtures Of whatsoever kind thereon, and all
riphts and priyileee es belonging or in any wise ap-
peraninr thereto; but the State gets nothing from
the dandv and nabob. though sporting on their per-
sons ;ewelfy equal in value to the farms Of a ma
iority 81 our farmers.
TIE amount which has been reported on the
schedules Of the rich. will be paraded before you
This i ali ripht This IS all true: but this is not
the whole truth: these federal papers do not tell
Won tbe amount on which they pay no taxes The
rich man NAV lpay taxes on $50 900 of money,
mites. and accounts. and he NAV have at the same
tine s5o oOl, of bank stocks. which ony paws tax.
es pcn profits. and 800 900 ofState stocks which
pavs no taxes at all He then only paws one
third the amount of taxes which he ought to pay;
vet federalism calls this lust and equal a'
6, II is rule in LAYING burdens upon the peo-
ME that the should so act as not to en-
Courage iuxuryor idleness. The burden should
and the rich hluxurious consumer. But what are