The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-09-24

nor even TO discuss the bank question; IL 10 the
subject OF taxation of which I am speaking,
and allude TO the national banks oply to show
you that they pay into your Federal Treasury
zen million dollars annually as taxation, and
that they pay aoout as much more OF local
taxes an the various communities IN which they
do business Certainly this ten millions that we
derive from national bands is not an oppression
to the poor mau. Holders OF bank stock are
not generally regarded as poor men, aud, as q
legislator, ] am quite at a lo~s 10 know how ten
millions of dollars conld be derived from any
other source so easily as from this of the banks.
l have thus hastily and somewhat crudely
enumerated all the sources from which our in
ternal revenue is derived. IL you will take pains
to add up the various sums have named, you
viii hnd that they give you the aggregate OF one
hundred and seventy millions of money. The
system of taxation under which this is raised is
not accidental or fortuitous; IL Is the product of
laborious research and investigation on the part
OF a Republican Congress-a Congress anxious to
so adjust the scale OF taxation that the indus
trial interests of the country should not be
affected, while the burden fell only upon articles
OF luxury and accumulated capital. On this
system of taxation the Republican party
stand. They do not apologize for it; they
justify II, and they assert that to perform
efficiently the work Of accommodating the amount
OF money now raised, and to render its payment
assured, 10 other system could possibly be de-
vsed by which the burdens would be so little
felt by the great mass of the community. (Long
continued appause) Happily, on this point
we are at sharp issue with the Democracy; for
on this question of taxation the Republican
party and the Democratic party are diametri-
cally and lrreconcilably hostile. The system
approved and endorsed by the Republicans is
the system now in force. In opposition to that
we find that the Democratic party, in their
National Convention, made the following decla
ration on the subject. / beg to read it to you
verbatim, and to beg that you will specially
'ReSolued, That we demand the equalization
of every species of property according to its real
value, including Government bonds and securi-
ties.n
To the latter clause of this resolution shall
refer directly; it is to the former portion that |
now invite your attention. The proposition is
that every species of property shall be taxed
according to Its real value. Now, under such
policy, beg to ask this audience which one of
you could escape from the oppression of direct
taxation? How many OF you to-day ever see
the face of a Federal tax-ga herer? But under
the operation of the proposition laid down by
the Democratic platform, pray tell me which of
you would not see his face, and that continually?
Why, this runs into the extreme of absurdity.
Let me illustrate. In your city OF Philadelphia
to-day you can dstil gallon OF whisky at about
the same cost at which you can buy gallon of
milk.
fifty cents; the Democratic platform would tax
the gallon of milk just the same amount;
'every species of property according 10 its real
value" is their motto. barrel OF beer is
fifteen dollars; the Republican legislation
taxes it two dollars. A barrel Of flour through
out the country averages about fifteen dollars;
the Democratic platform would tax it two
as beer; milk the same as whisky; luXurles the
came as necessities; churches the same as
theatres-making no distinction between lager
beer concert-room and vestry for prayer
meetings. 1t may seem absurd thus to carry
out their principle in its legitimate application;
but take it in its less offensive and milder form,
and where would it stop?
To-day the Republican legislation does not
tax your clothing, your hats, your boots, the
tools of the mechanic, the machinery of the
factory, the farm, the garden, the dwelling, the
by Republican legislation. They prefer rather
to gather the Government funds through the
channels have indicated; but the Democratic
proposition is to make your system of texation
sa%e 1sq law sSu e taxes the Billiard table, and TO
put the machinery which supports the families
of a hundred artisans under the same taxation
that the pleasure yachts of the New York sport
ing clubs are to-day asked to pay. 1 do not
really think that the Democracy knew just what
an absurd thing they were doing when they
were so uxious to get lick at the Government
bonds and securities, which are included in the
second clause, that they quite lost sight of the
ridiculous position to which they were commit
ting themselves In the first clause.
The speaker then considered the question of
taxation OF Government bonds. The Republican
party at the last session of Congress, under the
advice of the best 6nanciers on both sides of the
water proposed TO fund the debt by long bonds,
pay able in gold, at lower rate of interest, and
using the Ii per cent. differ ence III the interest
to redeem the public debt. How did the Demo
Gratis act They opposed the bill at every step.
But it was passed and sent to the President.
Johnson, at the instlgatiou of the Democrats,
killed it Dy a pocket veto-a very mean, skulk-
ing way of doing the business. Congress could
not repeal the resolution OF adjournment,
and thus was defeated an honest attempt
TO adjust this difficult financial ,ques
tiop. Then came along the Pendleton
escort with the cry ofpaying the debt in green
backs-You pay off your debts in greenbacks
time notes tor due bills. What merchant will
do business in that manner? I'VE will save the
interest,"" say some. Yes you will save the
interest, but it will be by an imitation OF the
currency, which the country does not need, and
which will be destructive to the manufacturing
interests of the country. When these green
backs were issued they were made lsgal-tender
between all the citizens and the United States,
and that was what saved the life of the nation.
When that bill was passed Mr.. Pendleton stood
up against it with bitter denunciaton, aud
declared that Congress had no right to make
legaltendeIs, and that the notes went out with
the brand of Cain upon them. So much for
your g1eenback Pendleton.
The speaker discussed the reasons for the
establishment OF the Freedmen's Bureau. The
formation of that bureau was an act Of Christi
anity and philanthropy. The expenditures for
the support of the bureau during the last three
years and half amounted to 81, 935, 283'7S.
Now we taxed cotton five cents per pound.
That is ,axiLg directly the labor of the negroes.
The tax on cotton has amounted to 500 l62,-
S64's3 The taxes from all other sources. which
may be considered as coming from the white
people, amounted to S26, 532, 900. Now, the
NEGROES have done better for the treasury than
the whites have in the South, and there are
only four millions OF negroes and eight
of the Democrats deserves notice. They talk
ab mt the large expenditures since the establish