The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1868-10-02

1.-The rogue ne 'eT felt the halter draw,
With good opinion Of the law"
Yours,
j. b. DUNN.
TAXES AND BONDS.
James A. Briggs, Esq, of New
York, in a speech in Portland few
weeks since, brought out the follow
ing important facts:
Zone merchant in the city OF New
York, Mr.. Alexander L. Stewart,
paid more tax on his income for 1868
than was paid by the people OF ten
States and four territories, and more
than was paid by either one of seven
teen other States. He paid $l97 900
more than was paid by all the people
of New Hampshire, and $4,000
more than was paid by the people of
Maine, and half as much as was paid
on incomes in Michigan.
The income tax does not reach the
laboring man. The population OF the
United States is estimated at 36, ,OO0,-
0OO, and the number Of persons who re-
turned incomes for the year 1867 las
stated by the Commissioner OF ln-
ternal Revenue i'm his last report) in
the United States WAS 240, l34. vi
this number 63, ,085 returned incomes
of twenty dollars or less, and ~, ,941
over $40 and under $50. t-
The people of the Third Congress
ional District of Massachusetts paid
more income tax for 1866 than was
paid by the people of any OF the
States except Illinois, New Jersey,
New York, Pennsylvania and Ohio.
The Pacific Mills Corporation, Law
renee, Mass, of which the Hon. j.
Wiley Edmands., is Treasurer, paid
more internal revenue tax for 1865
and 1866, than was paid by either
one of eight States and four terrific
ries, and more than several of them
combined.
From September l, 1862, to June
so, 1867, New England paid $l67,-
099, 9,5l3.O3 internal revenue taxes,
and of this, only $9l7, ,94S was for
spirits.
We are often told that the East.
ern States made money during the
war at the expense OF the Western
States, and that the accumulations of
the East were greater than all other
parts of the country. This is an
error. While it is true that most if
not all departments of manufacturing
were prosperous at the East during
the war, it is equally true that the
agriculturists of the West were the
most prosperous and thrifty.
The farmers of Illinois made more
money on the one article Of corn from
january, 1861, to January I, 1867,
than was made by all the manufac-
lures of New England for the same
time. Corn was worth in Chicago,
Jan. l, 1861, seventeen cents BUSH
el. The increased price from that
time up to Jan. l, 1867 will average
SO cents bushel, and estimating the
product at LOG, ,000, 900 of bushels per
year for the six years, gives GOO, ,OOO,-
900, and at fifty cents advance makes
$300, 900, 900. 1t is q fact that in the
winter of lS60-61 the farmers of III
inois burnt corn for fuel. 1t would
not pay transportation to market.
In the winterof lS60-61s q creditor
in New York was offered by his debt,
or in Illinois, in payment Of debt,
corn at six cents a bushel. The
creditor accepted the offer, and or
dered the corn shipped to Chicago.
Upon its arrival there he was aston
ished to learn from his agent that it
would not sell for enough to pay
charges Corn is worth to day in
Chicago from 95 to 80 cents, and
wheat from S1,5S to $1,72. 1t is a
gratifying fact that the great and i'm
portant interests of agriculture have
been successful for the last seven
years. We are dependent upon the
soil for our prosperity. The West
fed our armies when they were fight
ing in the cause of ou- country.
We also hear much said about not
taxing the rich 6ondAolders. Now,
fellOw-citizens, with few exceptions
the rich do not hold the bondsof the
United States. The bonds of the
United States are held by Banks, by
Life, Fire and Marine Insurance Com
panies, by Savings Banks, by persons
in trust for estates, societies, DC
How is it here in your oSn city and
State with the Government bonds !?
Who holds them? l wentthis morn
ing into one of your Savings Banks
and asked for the last report of these
banks to your Legislature, and upon
examining, found that the amount
deposited in the Savings Banks in
Maine in 1867 was IS, SOS, ,600. .26, and
OF this amount these banks held of
Government securities Sl,373,3S8
and of National hank stock 1859, sos,
making total of Government secu-
rites held by your savings banks Of
81, 132 ,953-almest one. third of the
whole amount OF the deposits. The
amount of deposits in 1866 was So,
946, ABB, So; in 1867, $5,598, 600. .26;
being an increase for the year of ST.
652, 1864. The number OF depos-
itors in 1867 was 24,59S.
The Savings Banks of the State of
New York have $40, 600, 900 invested
in Government bonds.
The Savings Banks of Connecticut,
have $l2.000,000 in Government
bonds.
The Savings Banks of Massachus-
etts about $50, ,O00, 900 in Government
securities.
The amount Of Government securi-
ties held by the Savings Banks of
New York, Massachusetts,, Maine and
Connecticut is S100,000,OOO, repre-
sented by 1,012,032 depositors.
One fourth of the people of Massa-
chusetts have deposits in Savings
Banks, and third of the peoplef
IN Connecticut are depositors.
Now are these depositors your
rich men and women, your people of
No they are the .scou-
mon people," and thank God we have
people in this glorious land I
1f ours, and that "none are born here ,
booted aud spurred to ride the backs /,