The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1854-08-23
Taxation.

That able democratic paper, the Woods
field Spirit of Democracy, expresses our sen
timents, on the subject Of taxation, when it
says; "We wish to state a simple proposi-
ton in Stale politics. When the wings pass.
ed the present banking laws OF Ohio, they
Incorporated in them a 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 oi tax.
alton the wings have ever since contended,
and when the democrats adopted different
lule for taxing banks, in the new consttu.
ton, and the Legislature, in conformity
thereto, passed law taxing the property
Of banks and bankers the same as that O,
private individuals, strenuous opposition
was made to the enforcement Of the Law
even resort to the force of arms was had
u 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 fe.lenure Judges
decided that the Constitution of Ohio was
unconstitutional. A decision which saws,
in almost so many words, that a Legislature,
composed Of the Representatives of the peo-
pie, may grant d~ay the highest legislative
power known to the governments of the
world-the power to levy and collect taxes
so that subsequent Legislature, or even
the people themselves in convention assem-
bled 10 change the fundamental law OF the
State, cannot alter or change that system!--,
Such doctrine is olioas in the extreme,
and is fit only for despotism. The effect
of this decision OF the Supreme Court is
that banks shall be taxed b. different rule
from private individuals-~in other words,
they shall pay less taxes than are imposed
on the farmer, the mechanic, or the mer-
chant. Is this right? This is the propo-
stiou to which VIC had reference in the COM
mencement of this short article fit is not
right, let the whole people join with the de-
mocracy in prescribing a remedy. The
wings will not do it, neither will the new
"RcpubIcan' or iusionist party, for their
principles are all embraced in the single
idea of repeating the Nebraska Kansas bill.
But to show our readers that bankers do
not pay a just and equal proportion Of tax
ses, we will state case. suppose bank
10 be located in the town Of Woodsecll, or
any other town in this State, flor the tax.
es Of oAnLs are uniform has capital of
100000, IN which dividend of 10 per
cent. over and above all expenses, was de.
clared for the last year. On this-the ret
profit being 8 10, ,oo0--the bank would pay
a tax of six hundred doliars--no more
Now take any number Of individuals in this
town whose united taxable property would
amount to 100000. On this sum at our
present levy, the tax would be one thousand
two hundred ahd sixty-6ve dollars, or more
than double that of the bank.
/ Again. Suppose that owing to losses and
hard times the bank fails to make any profits
whatever. Then according to the whig
system Of taxation they would pay no
taxes. But tit is not so with the farmer
Il his crops fail, and hard times oppress him
SO that be makes no profits, still he has to
ray the same amount Of taxes as If the times
we're everGo good and his profits ever 20
great Do NOT these evils require RENE
dy?