The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1854-08-16


Il is a truth known and established that
the leaders and managers Of the Whig (now
Fusion) party have ever sought to favor
capital and oppress la6O-. All legislation,
all decisions OF courts, that favor bankers at
the expense Of the producing interests Of
the country. are received with high favor
by the lea iers and presses OF Fusion Whig-
gerry in Ohio. The "dear banker" they
claim, must be endowed with special privi-
leges-eNen en- should it, say they, oppresf fs.
farmers and man of labor. W
Whilst the Democratic party have ever
maintained that every species of property,
whether in the hands Of the banker, the
farmer, the merchant DC, should bear alike
the burthens of taxation, the Wing Fusion
lists claim that special favors should begrant-
ed to the banker. favors denied to every
her class. The banker, they say, must
only be taxed upon his protits, whilst they
are willing to crowd "buHhens grieyous to
be borne" upon every other species of prcp-
erty, whether productive or uEproductiye.
If the principle of taxing the profits, and
not the actual capital employed, be correct,
why is it that bankers are thus specially fa-
vored? Has not the farmer, The mechanic,
or the merchant, the same right to demand
that its application be made to them? Ey-
cry principle of justice and common sense
is outraged by this odious Discrimination
Tax the farmers of Columbiana county upon
| the profits derived from their farms alone
especially such years as the present--an1
the one half Of them would escape taxation
entirely. The large majority OF merchants
and mechanics would be similarly situated.
Farmers are doing we'll at present, if they
can keep clear, and "naake ends meet" at the,
close of the year. Merchants, by srvers
losses on produce, are frequently brought
to the verge of bankruptcy nevertheless
the Wing press and Wing leaders ask no
exemption In favor of these classes. Crops
or no crops--profts or no profits, the burth-
ems of taxation, with them is the same
While millions of bank capital, employed in
Ohio, we are told by Whlggery, must pay
only tax on its PROFITS, after deduCting
all losses all expenses of the yearl
II the banker like the farmer and mer-
chant, should be SO unfortunate as to make
no profits, unlike them, he pays no tax
Upon what principle OF justice can this be
explained? Upon noue other than the prin-
ciple which has ever characterized the e.
gslation of the Wing party, to favor capitul
and oppress LABOR. fE
But we have heard it claimed that bank
capital was taxed in this way, more severely
than any other If this be true, it uniustly
oppresses capital thus employed. But il is
not true, and the bankers and leaders of Fu-
sion Whiggery know it well. 'r ~. I
Let US suppose case Two men have
each capital of $1,000 One invests his
money in stock in the Salem Bank, the
other purchases one hundred acres of land
in Perry township and goes to farming -
Every honest right-thin king man will admit
that both ought 10 pay an equal tax. Now
suppose the bank stock of the one yields
nett prof; of 10 per cent, which will be
800; upon this he pays a tax OF 6 per cent. /,
amounting to sic dotLurs.
How is it with the farmer? His farm is
appraised at $1,000, and upon that amount
he was taxed, last year, his land being in
Perry township, nine dollars and eighty sew
en- cents. Here it will be seen that the thou
sand dollars in a farm pays THREE DOL
LARS AND EIGHTY SEVEN CENTS
MORE TAX than the thousand dollars in
vested in bank stock. And this is what Fu-
sion Whiggery calls justice and equal taxa
ton. We have made this calculation more
favorable to the capital employed in bnnking
than the facts in the case will warrant, as
it is well known that the nett profits Of bank
ers will average nearer thirty than ten per
cent.
But take another view of this matter
Suppose neither of the persons referred to
should make any profits for a year. How
would then stand this matter Of taxation? -
The banker wou / pay NO tax, whilst the
farmer would pay his nine dollars and eiyh-
ty-seven ceuts, or the same as if lie had
been making clear profit of two hundred
dollars off his farm. These are plain facts,
and the farmers can make the calculations
for themselves. uiH 1H H s 1@,
If, then, the farmer, the merchant, the
mechanic and the laboring man desire such
dlscri desire that the banker should
be tay9d on on his profits, and their own
taxes increased in cohst quence thereof, let
them support the Fusion " hig Abolition
party. If, however, they desire that all
property be taxed eqaaliy, the banker as the
farmer, that the burdens be dispensed alike
upon all, let them give their earnest, hearty
and cordial support to the Democratic party.
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