The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1868-09-17

cOunCy-lC VIII average tudL ulucu. LAKE
that-it will average more, but | am just
making an average of the amount for the
purpose of getting positive sum. and
that will be the result. The whole val
| ne of real and personal property in the
United States would be $44. $50, OO0, 900
Then there would be that amount to be
| taxed. If you tax it eighty one-hun
| aredths of one per cent, then you would
receive a revenue Of 1868, 528, 900. The
amount of government bonds not taxed
| now is only about three hundred millions;
the balance are taxed mean by an
| income tax In order then to get at the
tax on these other three hundred millions
| of bonds that are now not taxed, or say
six hundred millions in amount, because
the amount makes no difference, we take
that eighty one -houndredths OF one per
cent and find that these bonds would be
$4,000. That would be the tax deriv-
ed from three hundred millions of bonds.
You see by this that the farmers and la
would pay 1868, 28S,0Oo, while the bond
h holder, not taxed now, would pay $40
900. Then the the whole burden of the
bankers, stock jobbers, lawyers, doctors,
eiuO DlOhClS VI UDIS COuDtiy, dtu NC tJldC-
ed upon property. Then if you base tax
Jet us estimate the property of the Uni
ted States at forty four billions of dollars,
and the debt at two billions or one TWEEN
ty-second part of it-your tax then, tax
ing the whole amount of the property of
small proportion of it to be paid by the
ho1 nd thnp thot ba
democratic party wants to get at,
would pay tax on forty-four billions
of property. while thew would pay tax
perhaps on three hundred millions more
than they do to-day, or, if they paid no
tax to-day, the tax on two billions of dol
lars of bonds, and you would pay the tax
on forty two billions of property. That
is the difference. The property holder,
the farmer, mechanic that owns his own
house, and his little horse,
and things of that kind, would pay
that amount more than would these |
that the Democratic party is |
so anxious to get rid of. Now, let us
see, making comparison, what amount |
would be paid by the bondholder, the
merchant, and the lawyer, aud the doe
tor, and the farmer al d mechanic An |
the bondholder, would pay according to
this statement is 81 ,476, 059 ofthe nation
al debt by taxation, while the farmer,
mechanic and laboring men would pay
So, 352, 1874, 100. There would be the rela-
tive proportion that the farming and lab
oring man would pay as compared with |
the proportion that the bondholder |
would pay. Now. gentlemen. that is to
be the style of taxation according to the |
Democratic theory, and if this is the kind |
you want, vote for the Democratic party, I
because that is the kind they will give |
you, according to their platform, if they |
have told the truth in it, and the pre-
is they have. Now, my fellow
it is easy to see that this manner of |
taxation is destructive to the people, in |
stead Of being beneficial to the people |
Nobody ever heard of such proposition
before. Now, why is it that they do this |
1t because they want to pay these bonds |
all off and stop the interest, they say
Well, in order to meet this argument |
that we use when we say that after they |
paid the bonds off in greenbacks the |
greenbacks will be of no account, they
stick In this resolution about equal taxa
ton of every species of property in order
to pay the debt that is, they will pay the
bonds in greenbacks. and then they turn
around aud tax you to make you pay the
debt to the amount of forty-four billions
in the five years, if they make their green
backs worth a cent. That is to be the
result if they can do it. Now assum-
ing that they do it calculate the per cent
| told you of to-day, and you will see
that the rate of taxation according to the
Democratic theory would take every par
ticle of property that you have got, in
ing to our proposition, would pay the ma
tional debt