Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-12-24

The Treasury Department worth % per cent lees than
the coupousi lie this the 'ry toi spire confidence ~
the new is us, aud cause them 10 approach "fpece
yau 2" Would they OF 60 to The world with brand
on their face az pa plbs as that which marked tie
brow of Can? 1t may be some comfort to the bond
ss taxpayer to that the wealthy capitalists can
not shave him annually 10 extent exceeding 20 per
cent though must confess that it's comfort OF some
what the coolest character.
Rut "a IL not rather remarkable that while the Secre
tay de- cants 70 fully in biz repor. on specie" and
fpece values" his fnarcill scheme does rot conteIn
Mate the cept or payment of dollar OF specief-
4 IA paper from too to bottom, but paper OF different
values The csupons Of the one thousand million loan
are 10 have value which time and circumstances are
10 determine and the Treasury notes are to be twenty
Ave per cent below the coupons. If seeking a
substitute for SPECIE approaching pece values we
certainly cannot obtain it by havog tro kinds OF paper
diff ring from esch other twenty-five per cent. IN
value.
Blu. the great objection to Mr.. Aemmingers scheme
lis that it seeks to coastrain every man, uoder penalty
of twenty-five per cent per annum on the amount oil
his taxes TO capitalize his tar or 10 other words, 10
inves in Government bonds amount the interest on
which will he equal his annual tax. Bankers, brokers
aud mo led may stand this but planters and farm
era and mEn OF moderate means cannot. Let me Nus
trats by an examples Suppose painter or farmer, with
an estate in land slaves aud stock Of the assessed value
of 500 900. HIS tax under Mr.. kemmr gers scheme,
would be $4,000. Ii this pSyaole in Treasury
noes he might, possibly meet it by the safe Oh nus
crops but one-haf of this tax S2 60O) Is payable IN
specie or coupons OF the one thousand million lolp or
in Treasury notes of the Issue, with twenty hVe
per cent added This 81 800 represents CAPT a. OF
SAL s66 The farmer planter must therefore, invest
nearly half bis Whcl estate in the Government bonds
10 get coupons 10 meet half his tax, or pay premium
of 1928 pr snnum if be pays in notes,
Let US take another example The writer OF TINS
paper /, trustee for two married ladies. The fund IN
his hands provided by their fathers 70 secure them
decent support is, about $50, 600. Their tax would
be 81 500 onehalf 81 $50 OF which, would be pay
able IN coupons This rep,esents captal Of lear
S2l OOO which the truste would be obliged TO invest
en- account OF one half the tax or pay the 20 per
cent additional
While am on this point, would respectfully ca
attention TO the operation Of the proposed tax law, on
the Interests Of all widoEs orphans aud eestut que trusts
and OheIs ~ho Rave funds Get art bv the beneVoence
of friends III interest which is TO be used for their
maintenance. This best he done, by statement Of
my acc 3uns with my wards
Trustee DR..
To interest on trust fund of $50 600 at per cent $4,000
Or.
By State tax per cent. ............... 500
Confederate tax, per cent. 2 800
Municipal $40 OF per cent. 4U0 3,4OO
Balance against wards after absorbing whole
income Aud this exclusive Of commissions &c, S4OO
How are widows, orphans, iemes covert aud oiter'
with trust ates TO be maintained, II their Whoe III
come, and part of the principal be annually absorbed
by taIations Verify this looks like ripping open the
goose to get her golden eggs
No peope can stacd the rate OF taxation recommended
By Nc MemmiDgar. The average yield Of cal.ai ca-
der favorable circumstances docs not amour: 70 per
cent Now, when the labor OF the country il with
drawn, and production diminished ii will not exceed
per cent How then can il bear permanent annual
bur hen Of 6 or 7 per cent?
hnd however, that am tresplssiug too far on your
space, and will reserve some additional thoughts for
second number FARMER.