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

Conversation between Mr.. H., mechanlcI
and Mr.. s., United States bondholder.
.Verhqnic-Wiil you purchase my house?
Being somewhat in debt, cannot afford TO
live in house that cost me $4,000
RondhoHcr-Wha will you take for it,
payable in United States 6 per cent. bonds,
interest payable in gold every six months
-Mchdptc-I will sell it for $4,000. In
estimating the cost, have not included my
own labor and superintendent.
BoudHoldr-It is high price. If | buy
your house, | shall have yearly tax to pay
Of sos, while now hold $4,000 of L. 5.
bonds, the interest payable in gold, the
premium on the gold at the present price,
makes the interest nearly . per cent. per
year, giving me all income of $3.50 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.
.Nechanic-Do you think it right to ex-
empt the wealthy class from taxation They
and the national banks are the principal
bondholders. Take your own case. You
have two children being educated at the
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.
B0ndholder-You know many Of US loan
ed our money at the commencement of the
war when the government required it.
Mechdnic-Yes that is true; but the gov
eminent let you have the bonds at q 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,j00-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, theiI
| fuel and their house rent cost them nearly
double what it should in consequence Of this
system of taxation.
| Bondholder-From your remarks | pre-
sumo YOU are not a republican, for they are
opposed to taxing U. s. bonds, and are in
favor of paying the principal of all the bond:
in gold.
Mcdaniel have always voted with the
republican party, but shall not support them
anv longer | cannot as an honest man vote
their ticket, when l believe it unjust to ex'
empt the wealthy bondholder from taxation,
he paying nothing towards educating his
children, nothing towards the support of a
| police department TO protect his own life
and bonds, nothing towards the support of a
fire department, nothing towards the repair
of streets which he daily rides over in his
carriage, and nothing towards the support OF
the poor, and nothing towards the state gov.
ment which is organized to secure bis life
and property. The democratic party are in
favor of taxing U. S. bonds. They are for
equal taxation and protection to sll-they
are for one currency for the bondholder, the
| farmer, the pensioner, the mechanic and
laborer, the business man, the ofhoe-holder
| and sll others.
BondholdeT-Then you intend to vote
sgsinst your own party.
XdckaHie-Do you think l would sup.