Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-09-26
COLUMBUS, OHIO, SATURDAY MORNING.
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5rdi The Way it is Bone -
The Hon. j. G. Allen, of Illinois
made, a speech in indianapolis recently
in which he explained f.gom n5di 4q
WHY THE BONDS WERE ExEMPTED. 81
Why is it that these bonds. should b,
exempt from taxation? Is there any
reason which can be given for their ex
emptioh ? / remember well that. rea
son was given when these bills were
pending in the Congress of the United
States. n 1t was assigned as a reason
that to subject these bonds to taxation
for State, county andmunicipal purposes
would decrease their value to the hold.
er. But the same reasons would apply
to every other species of property
Your shop is not as valuable to you as il
would be if it were exempted from
tax alton; your farm is not SO val
liable 81 as it would be if exempt
from taxation, and so of all property that
is taxed. There is no reason, then,
whatever, why these men who are Sc
fortunate as to hold bonds, upon which
they draw high rate of interest, paid
seni-annually, should be exempted from
their due share of, the burthens Of the
Government. Let us look at the practi
cal effect dof the exemption. of these
bonds. You are compelled to build a
court house and Jail, and maintain police
regulations. and pay those who protect
you in the employment of your lives and
property-your judges, jurors and off
GERS of the law, falls upon you, and you
alone, while he receives for his property
and his person the same protection thai
you receive. You have court house
to build. A tax is levied, and collected
and invested in building the court house
Your party is subjected to this tax, bu
his property is released from it. rf
% lsq AN ILLUSTRATION. '..
n Let us look a little further at tn,
practical effect of this exemption. A maj
desires to retire from business, put hi,
money in some profitable investment
and takes his ease. He sells his farm
or store-house, and invests the proceed,
in Government bonds. He retiresr iron
business. He no, longer continues t.
earn his living in the sweat of his face
according to Divine Command. He doe,
not even wish to be troubled with, th,
annoyance of housekeeping, and take
his family and retires to first clas
hotel or clearinghouse, and lives at biz
ease. Every six months he walks dowl
to the bank and draws his interest upo1
his hundred thousand dollars in bonds
The tax-collector don't know him, b,
cannot reach his property. Som'
pleasant afternoon he says to his
wife that he has hired pair of horses
and carriage, and proposes to take |;
ride. .oI They start out along one of you
avenues, andsthe wife remarks, "They
hav e;impro4ed this road very much Sine,
/ was here last. They have cut dow1
the high places, and graded the Low
places, and build aqueducts across th,
streams, and have graveled the road ant
madeiit beautiful drive indeed. How
did they do this ~ The husband re
plies, "Why they levied tax upon th,
property in the vicinity of the road
Neighbor A over there had to pay dol
lar on the hundred of the valuation O.
his house and .lAt, neighbor B had t,
pay the same amount on the valuation
of his farm, the widow woman who ha
that beautiful residence over there hat
to pay a dollar on the hundred of tn,
valuation of her property, and the one
armed soldier had to pay a dollar OIL
the hundred of the valuation of his littl
place which he bought out of the earn
ings of his service in the army. The,
collected this tax, hired hands, and mad
this improver ent. Truly, it is beau
7tiful drive" "Well, husband, you liv
in this district, how much had you t.
pay; you, too, had to pay something? |?
"No, no, not a cent; my property. is il
Government bonds [applause and Con
gress has said the State, county o
municipal authorities shall not touc1
such property They ride on, an
presently they come to fine schoo
house. It has architectural style an,
beauty, and the interior is convenient,
arranged with desks for the use of tn
children. Hard by is well of livin
water. Around the house is a beau
tiful iron or wooden fence. The wifi
asks, "How did they build that schoo
house, husband ~ "They built it by
tax levied upon property in this schoo
district. Neighbor AS property, an
neighbor's BIS property, and the widow
woman's property, and the one-arme,
soldiers property, was all taxed dol
lar on the hundred, and in that wa,
money enough was raised to build tn
house, +" Well. my dear, you live il
this school district; didn't you pa,
something; how much did you pay to
ward it2 y Not dollar. My none,
is all in Government bonds, and the,
can't tax it for any such purpose as that
Again. The wife says, :. Husband, W
have five children. / understand the,
have hired a competent teacher here
and we had better send the children her
to school. There is Betsey, and Nancy
and Tommy, and Billy, and Hiram
Ulysses. Laughter. They must al
go to school this winter. -"Well, m,
DEAR" says the wife,. although thes
people may not be able to tax you fo
building roads and school houses I reck
on if you send five children to schoo
this winter, it will cost you something.
mo, my, dear; you don't seem to under
stand at all. The school teacher is pal,
out of the school fund. My property i
not tax able for'any such purpose, there
fore / get the benefit of the school with
out paying the teacher"
.1! I2a Well, just about that time, fellow citi
zens, if 1 were judge on the bench, a
r 81 +I,+ II,