The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1854-08-16
Taxation,

We wish to state a simple proposition
in State politics. When the wings passed
the present banking laws Of Ohio, they
incorporated in them provision that the
banks should pay into the State treasury
tax Of six per cent. on their profits, and
no more-nothing for town. township, and
county purposes. For this principle Of
taxation the wings have ever since con-
tended; and when the democrats adopted
different rule for taxing banks, in the new
constitution, and the Legislature, in con-
iormity thereto, passed law taxing the
property Of banks and bankers the same
as that OF private individuals, strenuous
opposition was made to the enforcement
of the law-even resort to the force OF
arms was had 10 prevent the collection OF
taxes under the new system. Cases were
carried by the banks from court TO court
until they reached the Supreme Court Of
the United States, when that body OF old
life tenure Judges decided that the Consti-
tuition of Ohio was unconstitutional. A
decision which says, in almost so many
words, that Legislature, composed of the
Representatives OF the people, may grant
a,cay the highest Legislative power known
to the governments Of the world-the pow
er to levy and collect taxes-so that a sub
sequent Legislatures, or even the people
themselves in convention assembled to
cannot alter or change that system! Such
a doctrine is odious in the extreme, and is
fit only for despotism. The effect o
this decision OF the Supreme Court is tha
banks shall be taxed by a different rule
t trom prfvHe Indtviduafs-i~- other words
they shall pay less taxes than are imposed
on the farmer, the mechanic, or the mer
chant. Is this rightl This is the propo
sition to which we had reference in tn
commencement of this short article. II ii i
not right, let the whole people join witt
the democracy in prescribing remedy
The wings will not do it. neither will tn
new Republican" or tusionist party, 70
their principles are all embraced in tn
single idea of repeating the Nebraska
Kansas bill.
But to show our readers that banker
$ do not pay just and equal proportion Q
: taxes, we will state case. Suppose
bank, to be located in the town of Woods
field, or any other town in this State, (fo
the taxes of banks are uniform,) has
v capital Of 100000, on which dividen
:. of 10 per cent. over and above all ez
penses, was declared for the last yeal
4 On this-the net profit being SO. o.oOo--,h
bank would pay tax Of sic hundred dol
1ars--no more. Now take any numbe
Of individuals in this town whose unite
!, !, taxable property would amount to 500
600. On this sum at our present levy, III
O tax would be one thousand t,co hundre
and sirty: :fue dollars, or more than doubl
e that Of the bank.
! Again. Suppose that owing to losse
and hard times the bank fails to make an
= profits whatever. Then according to tn
whig system Of taxation they would pa
d no taxes. But it is not so with the farme
!. II his crops fail, and hard times oppres
? him SO thst he makes no profits, still h
: ;. has to pay the same amount Of taxes as
It the times were ever so good and his prof,
ever SO great. Do not these evils requir
a remedy?