The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-06


creased the taxes per cent and what is more
extraordinary, the people submitted 70 1t. They
actually increased the burden, which 1t supposed
the revolution would tighten and that too by the act
of power which at any time at the mercy Of the
mob. This IL another evidence Of the willingness
with which the submit to any BURDEN
when they feel that they have inflicted 1t upon
themselves. This state of things cannot, however,
last; the people crushed to the earth with
taxes previous to the fall Of Louis Philippe, and
an increase of 46 per cent cannot Be sustained SO
lorg o. the taxes onerous, there will be
stability In the government, NO matter what may be
Its form Universal suffrage will not feed the hungry
or oothe the naked the value OF that privilege will
soon be lost sight of amidst the suffering and priva.
tions tho collection Of such immense revenue will
produce. Nothing short of a great reduction in the
rate Of taxation will suffice, and 1t must come the
the better.
The Reputation Of the immense debts, q reduction
of the immense standing armies the naves, the civil
list, and the patronage of the government in every
shape and the remodelng Of the fnanancial system
upon the economical plan, are the only measures
that will give people that security In their
of property that exemption from taxes necessary to
ensure peace and contentment in the body polite,
We shall never feel satisfied that a republican
form of government can be established in any
place In the financial system Of the old world as
has already been experienced in the political systems.
The people have not, yet, gained anything by
the revolutions but change of rulers The very
sures which made their former rulers odious still
exist and IL they not speedily removed another
change will be brought about by means equally decisive
and effective The taxes the principal cause Of al
the political troubles in Europe One Of the greatest
safeguards of form of government is the absence Of
taxation for the support of the government In the
United States the average tax for the support of the
neral government, is only about 81 Is per head and
that is indirect while in France and Great Britain
the average than SO per head and part of that
is direct. The average individual income in this
country is fourfold greater than in either England
France; that here the tax is not felt while in the
other two countries 1t must fall with crushing elect
upon the masses How is it possible for them to bea-
that weight much longer 1t is not possble
and Europe generally is upon the edge of political
volcano, which every moment threatens to burst
and destroy every vesse of those old systems which
have long existed Such time is close at ha nd to
q certain extent the revolution has already been de-
veloped but so far it Is nothing to what must come
The moneyed nristocracy of Europe is destined to fall
and in its fall it will carry down all those systems
which have given the old governments much power
and much strength. With the destruction OF
those financial cliques which have supported the
monarcbs of Europe, and provided the to keep
up armies and navies that they might drain tenod as
much from the people, will vanish most Of those evils
which have for ages been patiently borne, until for
bearance has become no longer virtue. We are but
at the beginning Of the end there in the womb Of
time, events that will when they transpre, shake to
their foundation every throne standing in
Europe, and place the people in the position they
should have occupied ages ago.
The annexed statement exhibits the condition Of
the leading departments Of the banks of this State,
at three periods this year