Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-11-21

The reason given BY Mr. Stuart for the forced loan
nsead of the tax ia plausible aud not without much
force. He rays that Kentucky Missouri and other
plsyeholdrg States and certain sections OF The Jon
fderaoy cannot be reached being in the hands oil the
enemy; and If the loan is made, these itc:icns which
cannot now be made to bear the burden OF taxation,
NAV DO compelled hereafter to pay part OF the debt
In reply TO this it may be said on the other hard that
we must lepiate for the country we control, audit
NAV be hereafter qlestioa az TO how the ex-
nense7 of the war shall be equalzsd Admitting, how.
aver for the sake of argument that we will ultimately
recover our territory held by tue enemy and that
the onportunty for equaliznS this tax will be lost I'M
less the forced loan is made, still think the evil Is oil
such character that the loss would be apparent rather
than real Large Indebtedness imphrs credt ana a'-
dlv diD,inishes The value Of actual means And the in
div dual who loans instead Of gives bis means to the
Government really ehaVes himself He must hin'sey
nav hereafter what he loars, but By making the los
really incurs himself debt which appreciates bis credit
and his ability to pay
Heavy taxation it Is pretty well understood Il:
the only means OF relieving the financial distress and
O her incidental evils now grievousy embarrss ing
both to the Government end h1 people. II much the
larger part of the Confederate Treasury notes WHICH
the ,cp hold, and for the redemption o. which the
pc ,pe IN their properly are bound could be ssened
or otherwise dts roy d. all admit thai il would be the
me II of actual gain Such uniform destruction can
be accomplished ouly through taxation.
NJ Stuart shows very cea ly that the Tax Of twelse
per cent on property would enhanco the value OF mo-
new and in a corresponding measure, bring down the
exorba,t prices Of every description OF property, be-
cause the dsmand for money alone to pay 60 large ax
would bring property into market TIE inquiry would
not bs "what buy to get rid Of Confederate mo-
new ~ but what eau most conveniently sell TO obtain
S' FlrnerL OF course before resorng to their capt.
tai would sell their surplus produce and would be eager
70 get it into market The,GoVernmen. should then,
wisely desst from mprsssment, as the produce would
o0l ecessts, come to market
To avoid the danger OF bringing prices down too sud
deIly and TO prevent eGcrces Of property, let onS-
fourth of the be collected lot sooner Ihan three
months after the passage OF the law and the remainder
in instamens of three Fix and nine months after tie
Arst payment Prudent people would at OIoe maze til
rsngemens in advance 10 meet this new de-Gnd, and
COME ierate money would Immediately acquire new
value Isdeed vertu-o the prediction, that in the
short Interval now before Congress convenes tue gene
raj sense # the people that such relief as that sug
eest,d BIZ Nc Stuart will be afforded by the aJtiOn Of
Congress will produce d who ssone efiec. before tie
session commences.
L, might be wise to extend the oprstion Of any egs
laton GU this subec. beyond year, say during the
gar reducing the tax after the frs year. bat making t
still large enough to keep down the Indebtedness Of tho
Government, that confidence FAY be inspired in lte
credit O. the Government by the assurance thus given
that the government would not incur debt wtloh 1t
would be utterly and hopelcsly unable in all ia lime
to pay Let such law be enacted and enforced, and
its operation will dspe the too prevalent and too popu
lar notion that the Government must repudilte its 90 l.
gallons.
As cardinal principle, let It be underatccd that, in
getting lid of eircpldtior also get rid Of debt-oth-
er wise we ooy alleviate aud modify without removing
the great evil that sfiicts the nation.