The Democratic pioneer. [volume] (Upper Sandusky, Ohio) 1845-1853, 1849-02-16

Banks and IaxatIOns
Tile Democracy have charged eve
since The passage Of the tax law By th
whig party, TIN, banks were notssaxe
as other prapert,; that their full and JUS
share Of tie burdens Of taxation were no
horne BY these pets Of wh'ggery. Tn
whig papers have beea quite silent upoi
tle snhject for soue time 80 comple el
Jid The Democracy det heirnnfoan
ded assertion, that banks paid tbeir shat.
and more, ofiile haEd eps Of taxation.
Some whig a pwever, who seen
= '.'"t 'hs'' w s"'e down ..a a." ~
tempting II slsow from the late tabu a
statement, That tIese institutions have
during the past year, paid heavier taxes
than other property! Had il even 50 hap
pened, it would have been no jlstifca
lion of that odions feature ID wIig
TAX law. II 1t was not the iulttion e.
favor the banks, why tax them jiffsrenil, /,
from other properly! The law says 20 Tie
farmer. yatAmllst be taxed on your prop
er,y, real estatc and personal, and cred
its. 10 the Uankers, yon shall pay six
psr cent upon your profits only, and your
bank stock shall be exempt from taxation.
Now, why this inerence! 1t matters not
whether the farmer, mechanic or mers
chant, realizes cent Of profit, they
mus pay the taxes; but, il by by any ac
cdent or mismanagement on the part of
the bankers they realize no profits NO
TAXES are REQUIRED OF them. Not onl,
are the banks not taxed il lhey make no
divide nd, but their share of the burdens
Of taxation lie thrown upon the other tax
able property in tie State.
Again we ask, why this difference, If il
be not 10 favor banking capital! Is il re-
publican TO say TO one set of men, you
shall be taxed upon your profits, and to
all others, yon must pay whether yon re
allze any profits or not from your proper
"! Is this equality! is il upon the prin
ciple that 'aH men are created equaW Isl
il not rather upon principle frequently
followed by the wIiigs, viz: stake care OF
the rich. aud the rich will take care of /
the poor?' Is it not legislaing for noor-
porated wealth, the curse ef all civilized |
countries? But our object in writing thi.
article, is to prove that the banks have
not paid their quota oftaxes the past year.
L. A l., |
each holder of property TO hand in for
taxation, all the personal property mon
eys and credits Now snpposing the
banks were required to do the same un-
der the head OF credits would come 'aotes
and bills discounted, whether drawing
interest or not, which 10 The | indie pen.
dent hanks and 80 State banks amount O
SO, GOA G6l,95. The tax upon this sum
the rate which property was taxed in
Stark county, would amount to $5l ,G03
20, The tax really paid by The banks as
$33 533 o. sum only about half as large
as il should have been. We say nothing q
about taxing their gold and silver. nor v
their notes of other banks, nor their East !
:, deros;,s M we o,,x sno,l, If ,.x. o
.u.a;. ,otas ana h;l,s a;so,oa, S
Montgomery county. with valuation of s
s12 500 900. pays tax ofS32 o77. Were e
Ii q hanks taxed NJ the same rate. they $
' ould pay S65 16s 73, about double what c
hey maid the last wear. {
But this is not all. We're these iusti. +
u,ions treated like other properly, we
y ould be taxed. and lie following would e
hen show the result: &
Total resources a13. .o22 8s1 Al I
Tax fif taxed as in a
,,ark countr al G 22.lo0 ~
o;ils a, the aol,,rA 1n5 oeo az ii