The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1867-09-06
The National Lrbor Congress on Tax
atom and National Banking.

,,on n MANY States u the Union. AS
seni!yd Ia Chicago week before last
lie object IL which was u advance
the interests 81 that class Ia Tie COM
munitv generally. The Congress. AZ
the gathering Was called. passed a
series Of resolutions. intended as a
platform Of principles and % give
expression 10 the views II entertained
upon questions 1t public policy which
would affect materially the interests
of laboring men. The resolutions re-
.er 10 two subjects thatare occupying
the attention OF the public mind. and
uron which the convention arrived at
sensible and Just conclusions. The
Chicago Times, in noticing the prin-
cipies which the convention asserted
mon these questions. and the proper
method OF applying them in practice.
thus refers 10 them: One OF these y
IN the assumption that the exemption
OF national bonds from taxation is
AN unnecessary burden imposed On la
hor for The benefit Of capital" 1t
would be nearer the trnth 70 say that
exemption OF this species OF property
from taxation is an nnncces sary and IN
righteous discrimination in favor Of d
kind Of property which is held main
" by men Of wealth, while the proper
~ Of men who are not wealthy must
paw higher taxes in proportion. IN or
der 70 make up TO the public reyen-
ues the deficit csused by tha. exemp
ton The statement Of the commit
lee amounts, substantially, 70 the
same thing. For. ifthe government
bonds we're not exempt from taxa
ton, the amount Of taxes yielded BY
this species Of property in the hands
Of capitalists would reduce the tax
IS on other property, including the
homestead and personal property Of
the working man.
The report also aims AZ something
practical in declaring that the social
ed national banking system, inaugn
rated BY the now dominant political
party. is a monetary monopoly that
is subversive Of the principles OF equi-
" and Justice on which our Demo.
cratic Republican institutions arr
founded The national banking
law, ike the law exempting Govern
ment bonds from taxation. is sta
tnte the effect and apparent design b
which are 70 put more money in ths
pockets Of men who have got more
bv squeezingit from the pockets 0
men who have cot less. II is to en-
able a small number Of men to realIz
not only the profits of the bankin;
business, but high rate Of interes
besides on the amount OF their CAPT
tai invested in that business. TIL
people must pay the interest on thei
debt. The bonds representing tia
debt, and which constitute the basi
Of the national banks, are upward 4
$500, 000.0 900. The interest on hi
amouut--over $50. COG. O00-eoes
swell the profits Of the banker. realii
ed in ibe way Of interest on his ow
pictured promises to pay. Tins III
national banking law is a systei
which makes the people pay donb
interest to the banker on their ow
debt. besides exempting that del
from taxation in the hands Of II
banker. To say that it is tho mo
iniquitons and extortionate financi
scheme ever devised by greedy m
ney-sharks, is not to exceed the trnth
The remedy which the workin!
mems Congress suggests is feasib
and proper one. 1t is to do avs
with the national bakning system, al
substitute Government ssgreenback.
for the "shinplaster" issues OF tho
miscallcd national institutions
Every correct principle Of nation
economy, and every considerable
Of popular right, dictate that it shou
be done.
EorM TAXATION. The Concol
Statesman. the leading radical new
paper in New Hampshire, should
Immediately read ont Of the Journ
wing Of the Republican party. It
out in favor Of taxing all Cover
ment bonds. 1t insists that Congrs
would be sustained il il should ID
vide for such taxation. ltsays:sCo
gress will avert greater evils fro
the heads Of the hnndholders N