Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-04-01
NORTHERN VIEWS GF FEDRRAI,
RFWAnGRR


Hon. CHARLES REEMELIN, enc of he sbless
men Of Cincinnati, is writing series Of letters
On Northern finances, which are being published
in MEDARY's Crisis One Of these articles, en-
titled The Tax Capacity of People is the
MEASURE Of It's Credit. has lately fallen under
cur notics, and, # his views are correct, L 6ran-
eial crash is the inevilabls result of tho money
policy Of CHASE beyond question.
lie thinks tie g7ss; problem ia the Nortbsrn
S.Etss benCefo-th viii be, how much can be
fqueezod out Of the people by taxation, instead
OF, SO heretofore, how to tax and not get sur
PLUS; and thEt CHASE and uis parasites seem 10
think .he tax capacity Of the Northern States
IS inczhsustibls Mr.. R. says they hare figured
shst ia 1868, he E1Fih bad IRHo mors than
SI3 3S5, ,I37 46I property, and from it 50 522 e
924 ls3 gr-ss income, making $3.50 per head
. properly nearly $3.50 per hesd income. A na-
ti5n With such tsE capacity, they say, csa spare
! oEC-thlTd Per cent. income, ttat Is, twelve Lun
drcd mi!HOns per Ennum, to the Government.
Tais estimate is too highi but ell such csli-
mates are visionary. One fourth Of all pre-
! dUe.ion now is war expense. Tvelvs hundred
( millions is tie utmost limit of the annual PRO
duchen Of the North. or this sigdt hundred
are needed for living, and State, county, ard
city expenses, leaving four huadred millions as
the tax capacity. The tax capacity Of people
for series Of years, is what they csn spare
over and above their necessities. For few
yesTs, fresh people can treble this amount
4 The tax capacity then depends upon twO Auctu.
sliuV sggregstes-pyoduction and consumption
and lie Let amount left Of these two is The
point Of tex contest between government and
Individuals. The Federal Government repressea
consumption by high tariffs, SID encourages il
byp paper money. ChAse wants the gold, and
large imporislions ard bis party wants thsT1
small a oIEmped commerce dspTessss Pro.
duclicn and tax cspscily. CHASE tries to show
that the more the nation spends in war, the
rc.sTil gsts-the highest stste Of plenty would
then be when every man wss il the pay of the
Government. We held al work in civil war SIS
coHsuuptioB-CHAsE calls It production. The
Northern Government and people are about
through with all surplus in horses, food, cloths
end minerals. The so-cslled loyal people are
crowded little too close. CHASE is IN moth
irg so ingenious as in misleading the people
az to the actual cost of his financial operations
He only presents the nominal smounts on
bis books. Tie war has cost two dollsrf
that 90 not 60 on CHAsE's books 10 one that
gets there. The depreciation Of the currency
though not in CHAsE'S tables, is more thar
three hundred and ffly millions. Dr.. FRANK
LIN said that a psper currency that gradually
deprecistes ard becomes worthless is the mos
equitable tax that could be devised. He knew
that such deprseiAlions are only masked taxes
as tIe all voluntary contributions TO the reie
Of CIR armies. CHASE only gives the oficis
tax. The unofficial is seen in different style o
living. More old men work now in Obi
E than ever before, and youths ere kept from
; school for labor to on alarming e1 ent"