The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1867-11-20

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urOn the tax duplicate Of the country, low.
er the taxes, and relieve the people from
paying the bOnd>holders tax in addition 10
their own.
L. You will stimulate business, and ena-
ble the people to raise without ruin 20
themselves, the money with which to pay
their taxes.
The lowering aud equalization Of taxa
ton viii be. perhaps, the most important
result Of this policy. 1t is generally known
that ;ho Bonds are exempt from state and
municipai taxation, AMI that consequently
rs the onl0aEt must he raised, the taxation
on all other prope' ty must be increased;
but, We believe, it is not generally known,
that thr bonds are u.ed as mackines to-
scrcn millions of other properly from its
Just slI1re of taxation. The methoi aiopt-
I'd is kind of frau |, bat the law at present
allows l.. and it is therefore a legalZcd
fraud. 1t is done in twA ways. lst. SUD
pose man has $4,000 in bonds and 5000
in notes secured by mortgage His bonds
are exempt of course but he must pay IN
Cadiz township, near $50, tax on the
notes, unless he works tie bond msckin -
How shall Re save 5000 from taxation?
1t is worth looking to- lie goes to the
bank few days before the second .H1ady
IF april, and borrnrs 5000, invests this
$1,000 in bonds, which are of course ex-
enpt. On the second Monday Of April the
Assessor calls. He is in good shape-tclls
him h has nothing to return. You have
$1,000 secured by mortgage, says the As
sassor Yes, but owe the bank $4,000,
and the law allows me to deduct my debts
from my credits Yes, yes all right In
few days the 5000 in bonds are sold at
prt fit, perhaps, the note in bank lifted,
and the bond-holders machine has worked
ncbly for its master But it has worked
death to the people. This makes no differ,
ence to the bank under the tax law. Do
tha people wish to perpetuate such a ma
chin1? IF they do, let them fund the float
ing debt into gold bearing bonds, according
to the Republican policy, AMI make it pors
petual, aud they will then have perpetuatcd
their own degradation and slavery. End,
But again, these bonds are used in other
ways to serene other property from taxation.
In this State, the day preceding the second
Monday Of April, is the day which fixes
the amount Of property we must lest for
taxation. In Illinois the time is different
so in other States. If the raxcs in the
different States were levied on the same dag
or if each State would hold its owr bo nds
it would make little or no difference.
Suppose B. has $l,0O0,000 in bonds;
the day Of the levy has passed and the
bonds have answered their purpose here
Now suppose certain parties in Illinois have
greenbacks and notes to the amount Of
$1,000, 900, liable to taxation-just before
the day fixed for the levy by the law Of that
State, they purchase this million of U. S
Bonds of B. They exompt-the
levy day passes, they sell back, probably at
a smtl profit and at two per cent. save
800, 600 taxes, commence dealing and spec
ulating again in grain, pork, &C., until the
next levy day, when they use the same ma
chine. And so it goes, and 50 the rich get
richer and the poor get poorer, How long
shall we stand this Bond shuttle? How
soon should we get rid Of II? Just as soon
as the law will allow. Pay the debt in
grcenbacls put life AMI energy into the
business of the country, let al bear their
equal and just share of taxation, AMI we
will prosper. and can we'll afford to disse
garl the fase and craven cry of "repudia,
ton" Let them meet the question fairly
or go under. 'Fiat justiciu rIsat coelum.