The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1865-10-04
Shall GOvernment Bonds be
TaNedf

We ask every person to read the follow
ing remarks Of our distinguished candidate
for Governor, Gen. Morgan, upon the sub
ject of taxing Government Bonds. We
wish every citizen would read before vo-
ting;
am asked, "Are you in favor of taxing
Government bOndsl' | answer yes, and
why not? Property is the basis of taxa
tlOni and II matters not whether it existed
IN the shape cf bonds or lands, of ships or
of merchandise; all are protected alike, aud
all should contribute equally to the support
OF the Government, because all are alike
beueftted by the Government. But | am
told that in the hour of need capital came
te the rescue Of the country, aud made a
contract with the Government, and that
contract should be maintained You are
slightly mistaken, and | thank you for the
opportunity Of suggesting few facts for
your reflection. Capital did not come to the
aid of the Government, but in the hour of
need 1t forced the Government to pay usury.
But you say that money was necessary; that
money must be had, or the rebellion triumph
Granted. And it is of that |. complain
The country was in struggle for its exist
ence, and the men who owned money took
advantage o. the Government, and deman-
ded not six, or ten, twenty per cent, but
by paying in gold they bought the bonds of
the Government at thirty and forty cents on
the dollar, and then made the Government
pay usury OH the whole amount. But not
content with this enormous profit, money
changers demanded more. They forced the
Government. in its hour of need, to consent
to exempt their capital from taxation-that
is, exemM property, and throw the burdens
of the Government upon labor. Is this
either wise or just2 All capital is produced
by labor. Labor is the fountain of capital;
and paralyze the labor and capital must per-
lsh. But, if capital contributed its money,
did not labor contribute its blood, its muscle,
its life, to sustain the country? Capital re-
manned at home in luxurious ease and safe
ty, while labor went forth in the field to en-
dure hardships and privations, danger and
death. Why than should labor be forced
to bear the burthens which belong to capi-
tai? Is not such contract as unwise as it
is unjust? But it is something more; it is
against public policy. But you say all bond
holders are not rich. To limited extent
that is true, but for the poor bondholder
there are hundred rich ones. Gen. Cox
pleads the cause of capital Idefend labor.
He advocates the cause of the rich, while |
seek to protect the rights of the poor. But
if you and he are sincere in what you say in
regard to the poor bondholders' we can soon
agree. Let every family which owns only
FIVE hundred dollars in bonds be to that ex-
tent exempted from taxation. Do this and
| will earnestly aid you. Their number is
SMALL they are few and far between; they
are the victims and not the benefciaries of
tax exemption.
In most all our States we have laws a.
gainst usury. In certain States the whole
debt is forfeited, while in others the usury
is allowed to collect his princidal and inter-
est, but without usury. That is all we ask.
The principal and interest must be paid,
but we insist that labor shall not be made
to bear the burdens which belong of right to
capital. We insist that the soldier who
fought and blcd on many a field, shall not
be made to pay the taxes of the rich bond
holder, who remained behind and enjoyed
all the luxuries and comforts which desire
can covet and wealth procure.