The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1864-09-07

900 600 900 and The value of the real and
, personal property of the seeding States TO
be somewhat less than tha: prior TO 1860 ii.
e., $4,000, ,Ooo, ,OoO), Then the value o! the
real and personal properly of the whole
Union would be about S2l, SIS, 200, 900 /;
the average wealth per capils S6s4,52 the
average debt per capita Ss2."
The erroneous estimate OF the amounts
\ of debt we have already explained. Il will
be observed that the whole fabric OF the ar
gument tnrns on the attempt 10 induce the
unthinking public to regard the income val
ue of real estate as a resourse for he pay
meni of debt. There is only one possible
resource for the paymsnt of taxes, and that
is q proportion of the annual production.- -
The value of real estate is only an indica-
tion of the value of the production it can
in no way whatever be applied to the pay
msni of debt of the annual production, a
very small portion is applicable to the pay.
ment of debt, because nearly all the pro-
duc,ion is consumed in producing it. The
census gives aIl-the Northern personal prop
eriy, or the surplus OF the earnings over
consumption, at SO 700 0oO, 900 saved from
all sources in two hundred years, when
com 2aratively no Federal taxes were exac-
ted. If in the last ten gears the people had
been compelled 10 pay 10000, 900, as
will be The care in 1866, the amount paid
would have been So 100, coo 900, or more
than The surplus savings Of the last fifty
years
Those not accustomed to reflect upon the
hoperalIon OF taxes are easily misled by The
sophistry OF The Commercial and other
radical papers in relation TO The value OF
real estate as a resource. Suppose an en-
| igrant moves West and buys one hundred
acres for $I25, and farms it. That land has
had no vslue since the food until he gets
! his first crop from il. In fvs years it will
be valued by the State at 81 900, $40 per
acre, and the Federal Government will tax
the family 500. Now it is obvious at once
that there is no possible means of paying
the tax but by sale of part of the crops.
The farm may be valued at 81 coo or 500,
600 it can pay no tax except from its pro-
ducts. If the crop fails it cannot pay at all:
If The taxes increase they can DO met only
by reducing the quantity consumed by the
| occupant. The same rule applies to the
whole $40 GOO, 900 600 paraded as the val
ue OF real estate. If an individual wants
TO sell his farm, he can get its value from
, a nolher individual. But the aggregate of
farms have no value beyond their produce.
The same with Government Stock. Ii is
taxed, but the TAX must come out Of the in
teresl it bears. You cannot tax TO the full
amount OF tie interest aud then point 10
the nominal value of the stock as further
resource.
Nevertheless, this iswhat:he shoddy inter
est pretend in the case of real estate. AS
we have said, the census gives all the per-
sonaI property of the North at S2,75O, 900,
600. If we assume that the real amount is
double, say So, 400, ,OO0, 900, and that ihres-
! fourths or S4 600, 900 900 have been arcu-
mulated in the last thirty yesrs, or Sl31,
900 900 per annum, we shall fihd that the
average population in that time was 16,
600 900, and consequently that the whole
annual savings on this liberal allowance
was only So per head, and those people
must now pay SO per head interest on he
war debt, or thus:
Property accumulated, 30 years,
to 1850, $4,000 COO 600
Property accum nIs,ioa per an
nun, lSI 800 600
Property accumulation per head
per anDum, s
Interest on debt of 1865, 10000, 900
interest per head, 10
Thus, with equal powers of production
the people must consume 50 per hsad less
than formerly, and give the whole annual
surplus to the interest on the debt.
But, says one shoddyite, the debt is due
al home. Really, suppose one hundred
farmes are taxed one hundred dollars each
per annum 10 pay John Shoddy ten thous-
and dollars per annum on stock obtained for
swindling the troops, will that 5s a great
consolation to the farmers who pay? Ii
will create an aristocracy at ths expense of
landed serfs. But two hundred millions of
fivs-tw.nties are held abroad, sold by Mr.
Chase at forty cents per dollar. There is TO
be paid and sent out OF the country in gold
Twenty years interest, $4,000 600
Principal, 2OO, GOO 900
Total, S44O ,OOO, 600
Amount received and spe nj in
power, $4,000 900
There IS the whole ten years product of
the whole gold region gone in flash Is
that spent al home = Daily Nevs.
-~~~
A Boy KILLED BIZ HIS MoTHER.-Mrs.
Snyder, wife OF Abram Snyder, near Rey-
noldsvile, Jefferson county, Pa, a few
days since, took rife and attempted 10
discharge it at hawk. Resting the gun
on the fence, she snapped i. when it failed
to explode The cap. She then turned to go
into the house and while going examined