The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1864-05-03

The Committee of Ways and Means
of the House Of Representative is at
present engaged in perfecting bills for
the revision of our tax and tariff laws.
But Notwithstanding the fact that they
are so engaged, there is a feeling prev
alent that they will not come. up to the
needs OF the hour, and unsparingly APP
ply taxes where they are needed.
One of the greatest fallacies into
which many are beguiled, is, that the
imposition of taxes in addition to those
already imposed, win bear too heavily
on the people. Let us look at this sub
ject. Since the beginning of the pres
ent rebellion, our expenses as govern
ment have been enormous, and con-
ssantly increasing. One Of the first
questions arising at the outset Of the
war was how to provide the means nec-
essary for its prosecution. To, defray
the expenses Of the war, it was found
necessary to make large issues Of paper
money. The result has been that, with
this issue, the difference between the
value of gold and the value of paper
money has constantly increased, until
now it has reached q point varying be-
tween so and 70 per cent. Among the
first of the effects produced was the
suspension of specie payments in re-
demption of notes, by both banks and
government. AS long as specie pay
ments were made, the value Of notes
and-gold would of course be the same
But when it became law that the note:
should be legal tender instead of be
ing payable in gold, the difference il
their value and that of specie commen
ced. The notes thus far issued hav,
been under laws making them lega
tender, consequently all purchases, wheI
n special agreement has not been made
to the contrary, are OH the basis of pay
mept in legal tender notes. The resul
of this change from specie to a pape
money currency, has been to increas
the price of every commodity IN aceor
dance with the difference in the vaIu
of gold and notes.
II VIII Ue atuIuurcu ny aII tIiau IN III
creasing national debt, without the pas
sage of laws providing for its payment
will tend further to increase the differ
ence between gold and legal tende
notes, and that such an increase wi
make proportioate one in the pric
Of all needful articles. Now, whicl
will bear most heavily on our popula
ton, an increase of three per cent. i
the taxes imposed on manufactures, a
increase of a dollar gallon on whisky
large increase in the tax on tobacco
and general and large increase thlo
out the whole list of taxed articles, or
persistent adhesion to the doctrine tha
the taxes are already too high, and tina
the people will not be able to stand gre;
ter ones, by which the premium Of gol
and the price of every article Of cor
sumption will be greatly increased P
: The result in the one case would be bu
, a small additional cost to the consumes
in the other n very great one.
1t is not the merchant, tho banker
!, the owner of many houses, the ric
man, that pays these taxes. The me-
chant increases the price of his good
when tax is imposed, the landlor
adds to his rent, and so with all thos
who have r regular business; and it
from the poor man, the consumer, an
the tenant, that the taxes come in Oh
end. They have deep interest in TIL
subject of taxation, and they cannot to
often be impressed with the informatio
, that in times like these the impositio
: of heavy taxes is the cheapest and be:
! expedient which could be adopted.
J n. Y. Times.