The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1868-08-22
From the Pittsburg pa Post.
Bondholder and Mechanic.

Conversation between MI Ma mechahlcI
and Mr.. s., United States bondholder.
.Rerhqnic-Will you purchase my house :
Being somewhat in debt, cannot afford to
live in a house that cost me $4,000.
Rondholder-What will you take for 1t,
payable in United States per cent. bonds,
interest payable in gold every six months?
-Ncshaqic-T will sell it for $4,000. In
estimating the cost, have not included my
own labor aud superintendent.
B0udh0lder-It is high price. If i buy
your house, | shall have a yearly tax to pay
Of sos, while now hold $4,000 Of u. s.
bonds, the interest payable in gold, the
premium on the gold at the present price,
makes the interest nearly 3 per cent. per
year, giving me al income OF 50, 7sO yearly,
and not a cent of tax to pay. II invested
my money in houses, stores, stock OF goods
mechanical shops or mortgages, or any ar
ticle produced by mechanical labor should
be taxed.
Mcchqnic-DO you think it right to ex-
empt the wealthy class from taxation? They
and the national banks are the principal
bondhoders. Take your own case. You
have two children being educated at the
public schools and not q farthing do you
pay towards educating them. The very
school books they study are partly paid for
by the hard working mechanic and laborer,
partly BY the business man and real estate
holder, and partly by widows and orphan
children.
Bondholda-You know many Of US loan
ed our money at the commencement OF the
war when the government required it.
Mechantc-Yes, that is true; but the gov
eminent let you have the bonds at large
discount and you have been receiving your
interest in gold for seven years, which has
averaged about eleven per cent. yearly, IN
currency, and not dollars tax have you
paid during those seven years, while you
| have realized nearly interest sufficient to
| pay the first cost Of your bonds. You have
saved, by not paying taxes for seven years
on your bonds, $6,jO0-and could sell them
at premium Of $500, being the first issue.
Here is profit of $4,000, in addition to a
yearly interest OF eleven per cent. in green.
backs for seven years, and from whom does
this enormous interest and immense profit
to you Gomez The industrious and hard
working people of the country. Those who
labor ten hours per day are bearing the
burtben, who are taxed for everything they
wear, consume and own. Their clothing their
fuel and their house rent cost them nearly
double what it should in consequence Of this
system of taxation.
BondholdT-From your remarks | pre-
sumo you are not republican, for they are
opposed to taxing U. s. bonds, and are in
favor Of paying the principal of all the bonds
in gold.
Mcdaniel have always voted with the
republican party, but shall not support them
any longer. l cannot as an honest man vote
. their ticket when | believe it unjust to ex.
empt the wealthy bondholder from taxation,
, he paying nothing towards educating his
children, nothing towards the support of q
: ponce department to protect his own life
e sud bonds, nothing towards the support of a
v hre department, nothing towards the repair
q OF streets which he daily rides over in his
carriage and nothing towards the support of
the poor, and nothing towards the state gov.
8 ment which is organized to secure his life
and property. The democratic party are in
favor of taxing U. S. bonds. They are for
equal taxation and protection to all-they
: are for one currency for the boudholder, the
i. farmer, the pensiOner, the mechanic and
/ lsborer, the business man, the ofice-holder
and all others.
Bondholder--Then you intend to vote
y sgaipst your own party.
5 Xeckaaie-DO you think l would sup.