The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-12-24
BUTLER.

His Opinion on Taxing the Bomds-TEe
Grows Indignant a1d Uses EpitAets.
Under date Of the 1aih inst, General Butler
writes the following from washington:-
My Dear Sr:-i am always happy to welcome
just, manly, and coDslderate criticisms upon ny
public acts. Yours are so mingled Win kind
ness and consideration that l were shame
less to do otherwise. Let me assure you,
however, that you are discussing subject
Hnance-whiCh you do not, and | do, un ler-
stand TO some degree; one upon which you do
not even know the vieWa hold. ventuie this
assertion, because you say ''Uncle Sam will
Rever tax the interest ON his oOnds.n That
is precisely what he does do, and ever has
done since the Rebellion. He has al Eays
taxed the income on the bonds, and know OF
no other income from bond but the interest.
DO you?. That was at hrst taxed at II per cent,
when we were selling the bonds; afterwards
raised 10 per cent. When we got through
selling them we more than trebled the amount
Of taX, you see. Yet no man or paper llsped o
word that this was reputation or dishonest.
And why? First, because 1t was neither;
secondly and mainly, because, in fact, we only
taxed the conscience OF the holder OF the bond
i, e., we taxed only the income which the con-
science OF the holder compelled him to swear he
had when he made his Ieturu to the assessor.
saw, therefore, that the good and conscientious
alone paid any tax on the income derived from
bonds: / saw, too, that the number of those
was getting less and less. 1 found from the
returns that a lust revenue from the bonds
would be in 1854 and 1865, say 81, 100000; that
at II per cent. we got only Sl5,900 and IN 1865
aud 1866, when we should have had, say
$l,700,000 we got only $l39,0O0. That is, only
| one dollar in ten of income was returned when
| the tax was IL per cent When the tax was
raised to per cent on incomes put the calcu-
| lation somewhat thus:-If Ii per cent. will
| make nine men in ten make false return of
income on their books, what will per cent.
| tax do? You can cipher it out By the rule Of
three at your leisure. propose to make the
income tax on the bonds 10 per cent, and
why? Because they paid no tax, State
| or municipal, and l thought that taxation
should be eQualzed. The ho wi of repudatiOn,
| dishonesty. swindling, was raised at once and
| wherefore? had only proposed TO double the
present income tax on the bonds. Congress had
| before trebled it., aud not word was SAID
against the right or propriety OF so doing.
| Again, resortiDg to the "rule of three" If
doubling the tax is dishonesty, Reputation, aud
swindling, what crime was trebling the same
tax But when proposed doubling the income
tax only, how the rascals howled Reputation |!
Yet never word when Congress trebted it.
What, then. was the reason? Because the ras-
Gals did not care a copper for any income tax
which only taxed the conscience of the holder
of the bond. They laughed at the net which
only caught gudgeons, but determined not to
income collected by the Treasurer by with
holding 1t from the coupon when he was
called upon to pay the interest on the bond.
That made every body pay equally; none would
yelled in AGONY about reputation and dis
honesty. Then the Sam Wards and gold
gamblers were iR travail for a candidate against
me. Then Dana was put on the course. Then
Hawley and Curtis wrote. Then Fitzpatrick and
every other scouudrel GRATED through the dis
trct, and the Advertiser, Springfield Republican,
ard New York Times lavshly launched leadeu
libels against myself and constituents. But in
! vain. The income tax, honestly collected,
| and ii could not have been evaded, would have
| given upwards of Sl3 300O 000 where we do not
| get 81, 100000 now. How many sucn candidates,
newspapers, orators, and praters as we had
interfering in the affairs of the Fifth District do
you think the difference, $12, 900, 900. would and
did buy to oppose my scheme of taxation? How
much much calumny ana abuse from hslf.slaryed
Reputation, and praise the sacreduess OF obliga-
tons, OF which 4 OF one OF their own they were
ever known to fulfil?