, 1863-01-05
4 WORD WITH TaADDEUS STE
VEINS.

VEINS.
To THADDEUs STEVENS, Chairman of the Commit
tee on Ways and Mcans:
SIR: Why is it that corporations called
"banks" escape Federal taxation? Why
should they not be taxed three per cent. on
their manufactures, as well Us other in
terests? We are taxed three per cent. on
the white paper and all other paper We use
in our business three per cent. on all
the advertising We do-three per cent.
on all the job printing we ex-
ecute. We hare to pay dealers license
for the privilege Of selling our papers to
customers, and every article we use in our
business, such as ink, glue, oil, coal, is also
taxed; and five should happen at the end
Of the year to have any income left uncon-
sumed by taxes, that, too, will be taxed
three per cent. ..
We ask you where is the justice in
grinding newspaper In this style for the
support Of the Government, and letting
the "debt factories" called banks, 60 scot
free? Those favored corporations enjoy
the extraordinary privilege of drawing in
terest on their own debts, while other men
have to pay interest on what they owe.
But in addition to this astonishing privi-
lege, they are also exempted from taxation.
Other people must pay three per cent. on
their business, but the debt-making shops go
clear. In the name Of right and justice, we
protest against the continuance of such
paHiality as an outrage on the community,
and ask in their name, that it be corrected.
Perhaps you reply: If We tax the "debt
factories" the same as other manufacturers,
they will withdraw from the business and
retire their issues. Very we'll, suppose they
do. Cannot Secretary Chase step forward
and fill thevacuum thus created with ''grcen
backs?" The shops called banks have two
hundred millions Of their debts ahoat on
which the uttcrers are drawing about
fourteen millions Of interest per annum.
If they, rather than pay their taxes for the
support Of Government, shall retire their
issues, the Secretary Of the Treasury will
then be able to issue two hundred millions
Of legal tender notes on which the people
will have to pay no interest, but which will
save the Government fifteen millions Of in
terest that otherwise must be paid On bor-
rowed money. We submit that the people
could stand these savings of fourteen mil
lions Of interest paid to the banks, and
fifteen millions Of extra taxes that must be
paid to the Government if that sum has to
be borrowed by issuing bonds.
Butyou may reply, that proposition in
troduccd by you, to make the debt factories
i G. banks taxes like other people,
would not pass Congress. We answer, try
it on and see. We are sure that quite
number Of Western Republicans will cor
daily vote for it, and any Republican will
make an ugly, dangerous record for himself
who opposes it. Besides, we want the
fifty odd Democratic and Conservative"
gentlemen in the House, md the fifteen in
the Senate, to show their hands on this i'm
portant question. Let them vote against
the amendment if they dare-their con
stituents will dispense with their future
services if they cast such vote, We
want the trimmers and skulkers made to
toe the mark. We want justice done to
the people. Respectfully yours
EDITORS TRIBUNE,