Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1868-09-02

MS neau 10 be owner OF SIX shirts but
ne says if this radical government con-
tinues much longer you can't be able to
make SO extensive an Investment
Then he says: "This am bilious young
GopPerhead goes to the store, and pro-
poses to buy eighteen yards of muslin,
for which the merchant charges $4, 90.
How is this says young Copperhead,
Il used to buy eighteen yards of mus
lin for 81 If the merchant answered
truthfully, he would say, 1t is true we
now charge you 81 for the same quality
of muslin you used to buy for g. The
reason is this: There is a tar of three
cents pound on the raw cotton. The
manufacturer who buys must add this
to the price of the manufactured arti-
cle.' Then he adds, to the misfortune
of his young Copperhesd. that he has
to pay tax of FIVE per cent, on the
manufacture of the cotton cloth, and
then on the sales, and that these Radi-
Gals taxes make up the difference be-
tween the old price of 81 and the new
price of "a, and that thus this ambitious
young Copperhead will pay 81 on his
shirts to the Government. Now, this
is certainly misfortune to the ambi-
tious young Copperhesd. He had rath-
er pay it on whisky and tobacco. But
all this reasoning is untrue. it is unfair.
it is scarcely a shade above demsgog-
ism, and my very able and astute col
league will find, in the long run, it
won't win. The increased price of
goods is caused partly by the general
advance OF prices throughout the world
by the vast additions to the stock of
gold and silver. This is estimated by
writers on public economy as equal to
u to 2 per cent. per annum. But it
is caused mainly in the United States
by the depreciation of paper money,
by which all values are increased by a
false standard.
Now paper money, while it causes a
rise of prices of goods, also cause a rise
of the price Of labor, and it is one OF
the great and varying problems of po-
litical science, whether the activity Civ
en- to business and new enterprises by
paper money does not, on the whole.
promote the interests of laboring men
by increasing the value of their labor
more than the increased price of living.
Its evil effect falls mainly upon the
creditor class and those of fixed income;
but this leads me where Mr.. Thurman
ough to have gone to explain the rise
of prices. Mr.. Pendleton proposes to
correct all this by more greenbacks.
Now let US see how much our ambi-
tious young Copperhead pays in taxes
to the United States for his shirts. The
tax on cotton, which was levied for a
year or two, was last year repealed by
the Radical Congress- fact he seems
to have overlooked-audI l had q part
in this repeal. The tax on all manu-
features of cotton. which no doubt falls
upon the consumer, was produced two
years ago. and entirely repealed last
winter. Since this repeal Mr.. Pendle-
ton has taken a new tack, and says
that this repeal was all for the benefit
of the Yankee manufacturer, and does
not help our young Copperhead at all.
The only tax that remains is a tax on
sales of two dollars for every one thou
sand dollars sold; on the cotton shirts
of our ambitious young Copperhead,
costing four dollars, the only tax he
will pay is eight mills, or four fifths of
one cent. Now, if this is oppressive
or burdensome upon him, it is because
his heart is not right.
Now propose, fellow citizens, to ex-
anime little more carefully our aunu-
al expenditures and our system of tax
alton, for l think it the right and duty
of the citizen to watch closely all ques-
tions of taxation and expenditure
Our financial statements are made up
to the Both of June in each year, that
being, for convenience, the close of the
fiscal year, as distinguished from the
calendar year. l have the statements
for several years, but will take the one
ending June 80. 1868:
The national receipts of revenue from
all sources, for the fiscal year ending
June 80, 1868, was as follows:
ternal revenue (currency)-... 1913. 900 ono
Miscellaneous (currency).. ..... ...... AZ 900 0O0
Public lands and direct tax Currency 2,S00.0UO
ouV.uUJ
The miscellaneous items is made up
mostly of premium on the sales of gold
and the proceeds of captured and aoan-
doned property. Now let US see what
becomes of this sum. The great bulk
Of it is expended for causes growing
out of the war, and every dol
lar of these items is properly chargea-
bic to the Democratic party, which is
for the war. Still they are
the obligations of the nation, and must
be met.