The Conservative. (M'connelsville, Ohio) 1866-1871, 1867-09-05
.AEMPORrANT .GGMMuGlCkTIONl
DIsCOVERGEs BY A REPUBLR-
Shows up the Trickery of Busi.
nessM Mem through the ROndsI

49,
Ihp following communication -from
a very prominent Republican should
be reud by every one. -Hcis aequaln.
ted aud manifcstly disgusted with the
triakcry and knSvery which arises
| ont Of our National Bonds. 10 secs
the injustice Of a tax on'hrp6r' and an
exemption iron, tax OF capital Read
it, Republicans, and believe it, for
it comes from yonr own party.
EDITOR CoSsEEyATIvE.-I desire you
TO publieh tho following raets 10 your
paper. lam opposed to an exemption
from TAUNTON OF rear 80, 600 900, 900,
of the woalth. of the Country, and
thereby making the real estate and la
bor bear undue burtbers..
.Thge has not at anytime with in Che
last two years, beer Iess than, one
hundred millions Of dollars OF $50
7.30 bonds, compound interest, and
other Treasury notes, Treasury Ger
titicatcs, and other Government Sc
curit es, held in the State of Ohio, all
Of which are exempt from taxation
Our average State and local taxes have
for several years past, been about two
per cent. This, however, was cxcep-
tional ard produced by the war. In
the future, the average rate will prob.
ably be- one and a hnlfper cent. Com.
putting, therefore, at one,hulf per cent,
the taxes on the 500, O0O, 600 invested
in these securities, would YIELD the
State, counties, etc, $4,000 per anum,
whicl now has to be raised by incrcas.
ed rates Of levy on other property.
And this without therby putting enc
copper into The us Treasury. fhis,
though highly unjust to tho State, is
not the only injury resulting from
these exemptions. A party having
money on hand three days before the
day preceding the the second Monday
if-A fril (the day d, . which all ASSESS
! ments relate) deposits 1t tin the Treas.
ury of a sub-trcasury Of the United
States, for thirty days, ~ six per cent
fplcsests, and takes a certificate Of de.
post, which Is exempt from taxation,
holds the.the certificate until aftnrthe
second Monday Of April makes his
return tor taxation, emitting the
~dmouni.tAus deposited, and the next
day goes to his banker, deposits his
certificates, draws his money as he
wishes to uso il, and escapes taxation
the sn,ire year Z Others purchase and
hold bonds for u few days before and
NJ the time Of assessments for ia Xation
make thor returns and tho sell out,
escaping taxation foatec year. Bank.
ers purchase Government bonds with
thor entire capital, deposit them or .
part Of them in New York or elsewhere,
ds q security for advances, when such
become necessary for the temporary
].prOtccuon OF their drafts, ann carry on
Ethelr business upon current deposts,
thus escaping taxation upon thecr en-.
tire banking capital and deposits.
The retired capitalist invest his entire
means in these bonds, draws hrs 7.30
! to y Yer cent, i%ntncst and premium
per angm upon them and escapes tax
alton. altogether. The insurance
companies invest .heir means largely
ii these boUds and escape taxation
Tho slrewd Speculation deals in these
bonds as a regular busjnos, to great
profit, and escape taxation. Banks
invest thor means in these bonds, in
stead pt fostering the business of the
Goaptry by the legitimate uses of then
capital. And in divers and multiplied
| Ways are these bonds made to screen
bartios. from taxton, WHO ought in
eemmoUjUstice TO be made to pay
thcif pro rata share of State and mu.
,dicipal revenues, REPUBLICAN,.
SEo.s-- Pc
Pretty lew.
Tho P,ttshurg (Pa) Post is of the
! f = r. % - H--H NFH