Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-03-17

The Illinois State Register OF the 18th inst.
gives out few thoughts on the subject OF taxa
ton which are worthy Of attention:
The Chicago Tribune, in common with the
majority OF the abolition press, Is clamoring for
a further issue of the ; % loan-advOcating an
increase to the extent OF i've hundred millions of
dollars in addition 20 the amount already sold. I
This - another instance OF the crushing effect OF
abolition policies upon the working and agricul- I
tural classes which will be for their interest to
consider.
Government securities are by law, exempt
from taxation. Men who own farms or who I
earn their bread BY daily labor IN the work shop.
are ordinarily not able To invest IN 5-2O bonds I
their little capital being all required IN the prose I
cuti IN of their business. Elch dollar of these /
bonds, therefore. created 50 much more OF ma !
tion..I debt upon which the people must pay in
terest, while the banker capitalist who holds |
il does not contribute cent toward it, liquid
alton For Instance, i: John Smith owns a farm
worth ten thousand dollars. he bears his proper
Tomato burden of interest upon the bonded debt
of tine country. But when he exchanges his
farm Tor ten thousand dollars worth O 30 bonds
he psvs no taxes whatever upon these bonds, but
the man who buys his farm pays taxes, not ONLY
upon the land. a. John Smith did before selling
il. but upon the ten thousand dollars BY which the
deot of the country Is increased in the additional
issue of bonds Capitalists. therefore. are very
generally investing money in these securities.
while The working esisse- who have none 20
spare in this manner, pay taxes not Iniy upon the
land or other property they possess. but also upon
the increased debt OF the nation.
II then. Mr Chase should be authorized to
issue 1910 0O0 400 more of these bonds. the tax
PAYERS of the country will have 20 pay S3o.uuo.
900 more OF interest annually. But 1t Will not
he the bankers and capitalists OF the country who
paw this interest. but the working classes. who
have no surplus cash 70 invest in Loans oil the
Government
The principle of all this Is wrong All sources
OF revenue shopli be taxed alike; or u any DIS
elimination be made. it should not DE against
the poor man. Ten thousand dollars IN value
should pay taxes to support the Government.
whether il he in the shape OF 80 bonds farm
or a work shop Every increase of the Govern
meut debt, under Republican policies, only IN
creaSes the taxation upon men least able TO bear
it. while Il really decreases that 81 men whose
ready money j. so abundant that they can afford
thus 10 invest IT, This Is one of the many que--
tons aud not the least in Importance. which tie
people are 10 discuss before they can vote under
standinsls upon matters OF national policy. IL
.hev would change the present system and have
rich men oay taxes upon their wealth and some
o. the burdens thus SHIFTED from the shoulders oi
he Door. they must change the Administration
with which i. originates Democratic policies
have always been the policies OF the masses.
IL must be evident TO every one who has con
sdered the subject of taxation with any attention
thst the States have had tar more equitable plans
OF taxation generally than tie llan which has
been adopted by the General Government. The
great study at Washington has been To exempt
the wealthy to the greatest possible extent. and
TO make all the burden possible fall upon the Ia
boring classes Il i plain that tax laid on I
merchant or 4 manufactlrer in the end has Il
come out OF the consumer. and. A. genera
rule rich man consumes very little more thar
poor one.
But the worst part OF all tins i that the tax 1
levied 10 pay interest mainly 10 = class Of money
Lenders. who are made nearly exempt from taxa
tion: and all this when the people are ready 4
lend the Government any amount without inter
ct os taking treasury notes, not only Tor sAi"'
ies. but for every sor, OF supplies for the army
= Louisville Democrat