The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1866-05-31
THE COLLAPSE OF THE FENtAv
BUBBLE,
Important Alterations i'm the New Tax
Law,

WAsHIEeroN, May rs.
Fenianism in this country is dead and all
that James Stephens can do is to "assist' at
iss funeral services. In consideration OF the
great excitement which it caused here, of the
immense sums of money which it levied and
/. collected, and of the paroxysm of fright into
which it threw the British Lion, it ought to
have at least a decent, not to say an honora-
BILE, interment. Privates Miles OReilly and
! George Downing (colored) could furnish the
Funeral baked meats" and the funeral ora
I tons could be pronounced by Sir Frederick
Bruce and Archbishop McClosky. 1t is to
, be remembered that if the catholic Irishmen
!, in America had followed the advice of the
I, catholic bishops, and of the pope. on this
{ subject, given to them q year ago, they would
!. not have been swindled out of their money,
/ nor had the modification of seeing their hard
{ earnings squandered on luxurious living and
! elegant palaces In New York. Sir Frederick
! Bruce, It is said, conveyed to Mr.. Seward,
to-day, the thanks of himself and government
for the prompt and efficient manner in which
i the United States government bad reprsssed
Z the fsnian expeditions against Canada and
/, by the military movement under Gen. Meade,
! had prevented the invasion of that province.
/, The British minister expresses himself as be-
{ ing perfectly satisfied, now, that all danger
+ is over, and that no further attempt will be
I, made by misguided men to violate the neu-
) trality laws of the United States. Sir Fred
erick intimated, informally, in substance, that
the English government ls now fully prepar-
sed to repel all such attempts, either against
ireland or Canada, and would not, therefore,
ask the United States to keep up any special
military measures of repression.
E As regards Mr. James Stephens. am in
formed, on good authority, that he is COM
zrta In n
ness which are manifested in responding to
his demands for more money" Notwith-
standing sill his appeal, the money, it seems,
comes in very slowly and IL small quantities;
fand in q short time the fenian bubble will
burst, and the fenian machine will cease 10
run, from want OF the necessary fabrication
which green backs alone can supply
But it is no wonder that the Irishmen of
America refuse to send their money 10 Ste
aphens. Who, 1t was very pertInentiy asked
at fenian circle here a few days ago,-who
is this James Stephens, who comes here from
rGreat Britain, assumes the stae and manners
of king, and orders all money to be sent to
him? Is he any better than Sweeney and
= Roberts, whom we know? Nay, is he even
better tnan B. Doran KilIian or O'Mahony,
whom we thought we knew, and who
have proved So unworthy. Such, | find is
{ the general tone of the language held In
! regard to Stephens, but it is expressed in far
I more energetic terms than | have used. In
word, SO far So have been able TO ascer-
utain, the general sentiment of Irishmen here
and in the eastern cities is, that they have
been deceived in the whole tenian business !;
/ that the liberation of Ireland by any such Or
snganization as the fenisns Is utterly mpracti-
cable; and that the best thing Irishmen in
sAmerica can do is to let James Stephens Sc
Evaratu a1apa RI xvorR Wi fhpir nv
lfndustry, become good American citizens,
and labor and fight, when need be, for the
good and the glory of the land of their adop-
ton. Therefore, exit fenianism.
"a INCOME TAXES.
A streak of good sense seems to have come
over the house of representatives. In the
progressed the debate On the tax bill, thew
II have made two important alterations IN the
I, tax laws. One was to alter the income tax. sc
!, las to make the amount exempt from taxation
i $1,000 instead of 5000, as formerly. This
1dmay seem O small matter, but to all persons
4 whose incomes are S., 900 it is d very import
II ant matter. Under the law as it stands now
l persons whose incomes are only 81 500. 81, 000
i FOR 50, 500 a year, have very heavy income
rtax to pay, because all the deductions, includ
ulng house rent, office rent, expenses of bust
Il ness, taxes, and the exempt S600, do no
d-amount generally to over ST. 400 or 81 500 {
-year, leaving from 800 to 81, 900 on which
THE tax must be computed, and which, at
u per cent, amounts to from So to $50. If tn
amendment just passed becomes d law, 1T vii
make the exemptions generally amount to tn
Il whole amount of incomes under $4,000, g
that generally persons whose incomes do no
reach 50 500 will have little or no income ia
Ito pay. The exemptions on incomes of So,
fh0e0 will generally be abount 50 500, leavin
L $500 subject to the tax, which, in this case
Il will be S25,-enough to pay, certainly.
ssE Here are some figures which will illustrate to
81 difference between the law it now stands
u ,,and as it will be if this amendment becomes
l.,law