Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1864-05-06
Toe President has most plainly placed him

TIE President has most plainly placed him
sslf upon the record against the further issue
of trensury notes. If that banerul system be
revived, or again resorsed to, the responsibih-
ty will not rest with the Administration l.
Is one thing to oppose the iseue OF treasury
notes snd another to devise 8 financial pohc!
which shall support the GoVer"ment without
them. IF Jonds and certificates OF lnaeo'eu
ness are to be the colo soalc,s OF revenue TN
Congress must unlock the caii:al OF tho eoun'
try. by lifting tho double taxation that ia now
upon stocks o. all kid.
We d not desire tho exemption CT etock'
from .tcsltiml 10 taxation, out only from utJdsi
and ul.qul taxation. This becomes neoes-
sary, if it is expected to float the G>Sernnioh'
bonds The sgrcultural interest can co po
little in tho way OF purchasing 11TaFpHeh'
s,oar;ties. 1t is 6 property with winch
the planter aud farmer is entirely u ,aaquAlns'
ell: som ,thing out Of his line of business BY
stock hs means live stock, growing, walking,
feeding, fatseniug; but these paper or pa:ch-
mont stocks, With their littls coupon at'acE-
,nts, are oussids of his usual investments
Patriotism and novelty may incline the 1877
smsr aud plaator to purchase a few, but the
amount where millions aro wanted must pe
taken by some other source. The only other
source is capital invested ii the blockade, the
various manufacturing establishments, the
banks, and bankers and brokers, and tie &C.
s,issd speculators and cItortloners. TIE
capital that must alat the now bonds 10 *
p-sssnt invested in STOCKS IF various KINGS,
en5 under tho operation # tnu present tax
Law Ia taxed unequally and unjustly, and ii
persisted in must be stl1 to pay the tax and
not to purchase the bonds. Wac ara the meH
most likely 20 purchase s.. 900, 900 Of bord,:
n what is their means invested?
IF Congress will inrostigIte these eDqui-
rie,, it will ascertain tog the present nne11ai
tax on Stocks must operate a5Aiost :ae Il g
tiation CT tho bJat1.
The approach OF the end Of the war, "a al
confidently believe. viii in :u1e many persons
who have acenn1laret Fortunes darias those
rfsSI tU0C years. " Hill = = v "rN
where one is presented. free from tia heavy
taxation that for many years mus: burden
private fortune, il is but reasonable to sup
pose that such securities Will 10 eagerly sought
after. What is the charactc. Of the inTest-
mont that at present holds the great bulk Of
the money made during this Wal? Il a:s'
inDorsanc, sands land, purchase! By men
not TO cultivate. but so.aly because they had
no confidence in Confederate money. AID
preferred uapfoiuoti7e investments to tho
dagger iavol1el il Confederate bonds. The
tax law Will NOT operate 10 iGduce q sale
of thss, pro:isiess inses:m'n's, because
a cUwariiy want Of confidence in the Con.et-
crate cause was What made these timid spec
ulasor3 sink their iil.gottar gains in barren
hi Is and pine f'rosts OF Virginia, at pricef,
one-.snih Of which would have been fabu!ors
if paid in gold or silver. Nothing may
be expected from this class CT capital
lists. After the w,r is ovee and The enemy
has certainly abandoned his .eG,rts col
umos of advertisements will BE- found "a
newspapers Of these very farms.
Tusrs are many mon, who, while tn y~renlls
aal !i:sls faith ia Coafedorata promises 70 pay,
nevertheless omitted 10 Ell 'rts to accumulate
as many Of them a. possible. This GLASS o!
employed il the various commercial MANN
f.c'ueing and banking institutions Of the
oouotTy. Upon this class alone can the Sec
rotary Of the Treasury rely for the sale
branches Of business supported and eua
tlin.d e1 ,lnaively By the War. The pro-
as OF su;h business would End Investment
in tho ua.azahic bonds, if the tax law did
no. consum, thoss profits by iss unequal snd
unjust Discrimination Of d01b!e taxation npon
stocks. The Banks Of the States, j: n,t
h,aoed by this oaercu5taz FIRST upon its can,-
tai, and nsx. upon that samo otpit&l in the
shape of the stock Of the shareholders, might
aG,rd q sure reliance Tor the sale Of these
boals; but tho bausful effects OF q double tax
will not permit q wise financial discretion to
venture upon the market for the purchase Of
ROvarnm3nt securities ~ I'nS a5 tueiF prptts
are consumed in taxos. Patriotism is a bro
ken reed where money is involved. Men will
send their sons-ayc, 80 thsmselVes-to the
cannon's Mouth; but never, for country
sake, put thoir money! in doubtful investment
/. is better TO rely upon the capitalists than
the patriots in al money matter. We hope
that Congress will speedily romovc the u%njust
Discrimination against stocks.