The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1864-06-23
ltaf Ability 70 Pay Taxes.

= FROM The New Ork lines.
The London Economist and the Saturday
Re0teao- neither Of them at all partial to
this country-have taken occasion. lately to
call attention to an important economical
fact, developed by this Wharf.-The immense
wealth Of the population of the free States.
The Economist, in a recent able article on
the subject of our liability bear taxation"
demonstrates, as if AGAINST the popular
opinion of England, our capacity to bear
easily 5000, 100000 annual taxation. The
writer states the great popularity Of Ameri-
can society has not been understood in Eu-
rope-tLat is the large number of people
with an income of $500. There are not he
admits body of men, representing, for
instance, such an amount of property as is
represented by the British Parliament, but
there are far larger numbet of small prop
erty holders with taxable incomes than in
England Reckoning the average wages of
the American iaborers snd small farmers at
81, so day, which he believes to be a low
estimate, aud the number of families in the
Union at five and half millions, he thinks
the wages-income of America would be
equal to the property Income Of Great Brit
ain. The income OF our middle class hel
estimates as equal to that of British middle
class, though the former possesses less ac-
cumulated property. Suppose tax laid
corresponding to the English, Of three shil-
lings on the pound, he concludes $120, 900,
| 600 could be raised here from direct taxes
without counting the indirect taxes on lux
uries. With respect to the willingness of
our people to pay, he entertains little doubt
that where debt is so universally held,
and where population is so well of, the
tax would be paid with but lttli grumbling
lie does not see why an American farmer
or artisan should not be willing to pay for
the American nationality, or dignity, or
safety, or whatever we consider it, as much
as the British bankers clerk for the British
namely, three .shillings on the pound
Grumblings there would be, but there are
grumblings also from English rate payers,
andyet the poorest pay with little opposition.
I There might be many difficulties in collect
) ing, but experience and ingenuity would
gradually perfect modes Of raising the taxes
which would be the most effective and tile
least annoying. And as be justly argues,
it is hard to fix a limit to the amount of
indirect taxes on luxuries which might
; be raised from SO rich people. His final
candid conclusion is that the European pub
lie have not at all estimated correctly the
: American ability to bear taxation.
We are glad that so eminent financial
authority as the Economist has admitted
what has long been claimed by the the
: inanciers ofAmerica-the immense product
iveness of labor and consequent wealth o.
America. A foreign traveller i'll our Uniol
not seeing so much of the signs Of accum
ulated wealth, though finding every mark
of individual well-being is disposed to I'm
aerrate the national wealth. But it must
: borne in mind that the wealth of ever,
country is produced each year, The pro
fits of the annual labor in America are i'm
meuses We have always understood here tina
the capacity Of this country to bear taxation
and thus pay debts could hardly be meas
ured. With wise system Of taxation
falling especially upon luxuries and larg,
Objects steady accumulation by fixed
legislation of sinking fund each year, ant
the raising money for the war as little a
possible by currency, and as much as pos
sible by loans, we shall bear even two thou
sand millions of debt as easily as poore
countries in Europe bear their hundreds o
thousands The whole people own the debt
They are willing to pay anything for thei
nationality. They are rich enough to en-
dure immense taxation. Who can doub
!, both their financial ability and their fna
financial success, +41