The Grand Haven news., 1865-02-22


The injustice Of exempting government
bonds from taxation cannot bo too strong
y brought before the minds Of the peo-
. pie, for in That exemption il is the. great
mass Of honest and industrious laborers
Of the country constituting a vast ma
jority Of the whole population, who are
wronged. What justice, pray, is there in
law which virtually says to the rich
capitalist, here is chance, sir, to es-
cape your equitable share Of the burthcn
Of taxation, and place it upon tho shoul-
ders Of your poorer and moro unfortunate
neighbor." &
That is precisely what the law exempt
ing government bonds says in effect, and
hence may be attributed their popularity
and the consequent increase Of taxes. A
responsibility for the passage Of this law
rests somewhere, and it will be well for
the crushed ax.payer to know sOherc it
rests. It'rests with the republican ma
jority Of Congress who passed it; and tho
democratic press Of the country should
look well 10 it that this responsibility is
not shaken of by the party that has thus
far sanctioned and approved it. For one,
we do not hesitate moment in saying
that this law is infamous! 1t is directly
calculated, as we believe it was intended,
to build up a moneyed aristocracy at the
expense of the labor Of the country. IL
is a bold stride towards wrestling power
from the many to be placed in the hands
Of the few. In short, it is the same old
enemy TO free government against which
the democracy of the country have ever
battled--federalism.
Under this law, 2, who this year has
100000 in greenbacks drawing interest,
finds himself taxed for the same to the
amount Of say $500. He observes that
by investing bis capital in government
bonds, also draaoing interest, he can save
another year, over and above the interest,
the snug sum of $500 in taxes, and he
therefore at once invests. Now what is
the direct effect of this action of ISL
Taxes must be raised for tho support Of
the government, audhe having Withdrawn
his capital from taxation, the amount to
be raised by taxes another year being per-
haps no. cent more, yet Y, the poor,
hardworking neighbor Of Y, finds bis tax
es higher and higher, only because tho
former, encouraged by the government it.
self, has invested in bonds. Y has moth
to invest, and has therefore to strain evc-
ry nerve to meet the payment of taxes,
which every attribute Of justice, every
principle Of equity, says belongs to his
rich neighbor to pay.
Democratic principles have ever said
this federalism has just as long sought
by similar acts to impose such burdens
upon the masses. Republicanism in this
is but federalism in disguise. II is feder-
alism in power, and the honest industry
Of the country feels that power even if
they do not recognize it. gAs
The Legislature Of this State is over
whelmingly republican. While it has not
the power to repeal this most odious and
oppressive law, it has tho overland it
is duty il owes to the hard-working and
overtaxed constituency who created It, to
cali upon Congress for a repeal. If the
faith Of the government is so poor as to
require a resort 70 such means to induce
capitalists to invest in its bonds, it is poor
indeed, for it is in fact making the labor
Of the country shoulder the whole bur
then Of support.
a Let us see for moment how this mat
Ter Of exemption operates. We have in
tho army very large number Of suffers,
each and all coming money at rate new
or known in times Of peace. This money
is drawn from tho blood bought earnings
cfa poorly paid soldiery, who have stak-
cd their hycs in their country's defence.
The government steps ia and says TO the
sutler, invest your ilI-gotton treasure in
government bonds and we viii relieve you
from taxation, and wo will draw the means
70 nav off Tim xrI1;.xs ..l,> b.x,o i,,oJa