The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1864-08-24
SPEECH OF
Hon. A. G.. OLMSTED,
ON TIE
REVENUE BILL,

In the House Of Representatives, Of the
Legtslature of Pennsylvania, on tie
18th Of Apr1, 1864:
Mr.. Chairman, l do not propose at this
time to enter into anything like an ex-
tended discussion of the questions in
volved in the subject before the commit
tee. do not profess to be learned in
the difficult problems Of taxation that
press themselves upon the attention of
the public at the present time. have
no hesitation in saying that | should favor
the amendment with has just been offered
by the gentleman from Montgomery, were
it net for the constitutional prohibition
that seems to be in the way. Aside from
the constitutional restriction on the sub
| iect, the amendment seems to be but fair
and reasonable j; and the argument which
that gentleman has made upon the sub
jeot is such an argument as the subject
itself is capable of, and one which, indie
pendently of the restraints of the Consti-
tuition, it would be very hard to answer.
But, sir, if the Constitution, as the courts
have decided, prevents taxation in the
manner provided in the amendment, then
it is utter folly and unbecoming in US as
Legislators to adopt the amendment, and
it is a waste of time to discuss it. The
remarks, therefore, which, shall make at
this time will be directed to the bill be.
fore the committee and the amendment
offered by the gentleman from Lebanon
(MR. CoLEMAN.)
Now, sir, there is q general impression
throughout the country-an impression
that has been growing stronger for many
years-that real estate is too heavily bur
dened with taxation. This sir, is the be-
lief among the masses of the community;
and although it has become somewhat
unfas shlonable of late years, in these halls
and in the halls of Legislation everywhere,
to say much about the people or the rights
of the people, yet this House will excuse
me for alluding to them in this connec-
tion. say, sir, that it is the impression,
it is the we'll grounded conviction, of the
intelligent yeomanry cf the country that
the burdens of taxation are net equally
imposed; and | believe no intelligent
man whatever his pursuits or interests in
life may be, pretends to deny the correct
ness Of this conclusion. The practical
question now before US is, whether this
state of things admits of remedy.
1t is easy to see, sir, how this state of
things has come to exist When gov
ernments were first organized, and sys-
TENS of taxation were first instituted, the
attention of the world was turned almost
exclusively to agriculture. 1t was neces
sarily the great source from which reve-
nues were derived. Commerce was in its
infancy; aggregate capital in railroads,
banks and other corporations was unknown
and undreamed of. Consequently taxa
ton was visited upon real estate, the only
source from which revenues for the main-
tenanoe of governments could be derived.
But sir, different state OF, things exists
now. Gradually we have reached point
when our own State alone has twenty six
millions of dollars of banking capital and
one hundred and eix.y-two millions, as
near as'can be ascertained, in railroad cap
ltal, besides, vast amount of capital in
vested in other corporate onterprises.-
And as the wealth of the country has In.
creased, there has been corresponding
increase in the expenses of Government.
Now, sir, Notwithstanding the gigantic
wealth of the corporations Of this State at