The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1858-11-16
TWENTIETH YEAR.

railroad tax Of ec0O, 900 ID to be raised? Ha,
s0s friends OF this measure csmpatsd The amou,
Of addtioaal taxation that Il will impeae unc
the people Of the S,atsl There are ~. !
counties already burdened With such tax..o
that It really amounts 70 oppression. Soma
them are nov pledged to county railroad !.
Of three per cent. upon their valuation in ls6
, IN addition to the osdinary State, county. scho,
and road taxes. Doss any one suppess th..
greater sazasioo than this es~ be borne. or n.
s@'s vlii % borne moro than q year Or two with
out rebellion or reputation?
Inc advocates OF State indebtsdne.a nrof..
% believe. that If their scheme 10 adepeed th.r,
~"' % millennium Of prosperity in Iowa. /.
once. Running in debt, in their estimation !,
'ns panacsa for all our woes; ii il to s.;mul.,. !.
immigration, increase business. establish ~
'sc'ufss, enhance the value Of property. and
make as oil rich, prosperous and happy. !.
may De that ail the laws Of trade and smisr.-
.'on may suddenly change, but we do no. be.
"sve II; and. unless they do change. sueh !.
consequence will NOT follow.
why has Iowa felt the recent pressure in IN.
money market more than auv other &c ~.
western States, and 10 feeling it more now! Il
% because the very business life-blood Of the
state hes been drawn of every six months Ia
pay the interest Of the city and county deb...-
"s raise oy direct taxation and send away an
nuaiiy, never to return, between forty and tifty
thousand dollars to pay the interest on Burline.
ton and Dss Moinss county bonds. We could
better aftord to raise tloo. 200, If IL was to be
PAID out in our midst for improvements, or was
70 pass from hand to hand for the purchase Of
property or in the payment Of debts. That
which 10 the case here is the case in ali tie older
cities and counties in the State. Nearly all sr.
struggling under heavy debts, and the ouIv
thing, which, If left among them, would recu-
perate and give energy to their business, 10
periodically sent away, never to return either in
me shape OF property or money. TIE seven
counties IN this immediate vicinity, viz: Lee.
Oes Aones, Henry, Jefferson, Wapello, Wash |
ng'on and Louisa, aud the cities within their
inl's enjoy the blessings of an aggregate in.
ieotedness OF $2,7o0,00O, upon which they pay |
8 per cent. interest, amounting TO
'2l6,OOO. The various cities and counties in
ne State, it ia said, are now in debt or stand
'sedsed to an Indebtedness somewhat exceed
ng SS,ooo,0o0 at an average rate of per cent,
he annual interest upon which is S64O, ,0oO.-
We confess that when it is proposed to add 10
his amount the further sum of $lO. 600. 600
rawing 100000 interest per annum, thus ma.
ing the annual drain upon the State of ons
''ltion tsco hundred and forty tAousand dollars.
A'eA must be raised by direct taxasion, We are
ppAiied at the magnitude and insansness OF the
roposition. 4,
A proposition cmanating from Des Moines,
ishuy different from the Dubuque proposal,
rs been discussed. 1t is proposed at Des
oines that the State buy iron with her bonds.
I'd lend Or sell the iron to the railroad COM ,
lnies. For our life We cannot imagine any {
Vantage in this suggestion. 1t seems to us
be open to every objection that can be urged
.ainst the Dubuque proposition, and to come r
lditionai ones. The difference between them e
just this: Under the Dubuque project the r
ate would only furnish the means for corrupt. o
6 the Companies and their agents, whilst ri
der this proposition the means would be fur
she'd as we'll for the corruption of a set Of o
ate agents, who shall sell the bonds and buy | =,
e iron. II merely mui,iples the agents and
c:eases the risks without o5yiatins any con. S
sutional or financial objection. al