The Portland daily press., 1868-09-11
The Argus on Equal T0ca-
fiOH


1t seems as though the Argus would never
cease making misstatements in reference to
this question In an article published few
days since, our neighbor expresses great sur.
prise at our having said, that nobody has
pretended that the Government bonds were
exempted from taxation by the United States. 4"
We said so, partly because we had examined
the various acts of Congress authorizing loans
and found no exemption from such taxation
in them, and partly because we knew they
were in point of fact taxed under existing
laws. The Argus ought not to be surprised at
apolitical opponent telling the truth, or at his
admitting what could not be concealed from
intelligent readers.
But after recovering from its astonishment
at our stating what we supposed everybody
knew, the Argus goes on to argue in the So
cratic mode, by asking questions "Now if
the bonds" it says, Scan be legally taxed, why
in the name of fairness, and of Justice to those
who now pay taxes on their property, should
not these bonds be made to bear their fair
share of the public burdens? No possible rea-
son can be given. Railroad shares are taxed.
bank and manufacturing shares are taxed.
city and State bonds are taxed Why should
not Government bonds also be taxed?"
Will the Argus tell us what share of the
burdens imposed by the general government"
tie ilroad and bank shares" it speaks of
I'd "cty and State bonds" bear, which are
not equally borne by these bonds The United
States tax the income over one thousand dol
lars of every citizen and the bonds are not ex-
cepted, but are always included We quoted
tuO in ri
the printed "return" of income all are requir-
to make. The blanks are to be seen at the as
SCISSORS office if any person who is so unfor-
tunate as to have had no occasion to use
them wants to see them. To be sure if one has a
small income. that is exempted, but no more
than income from any kind of property This
is a very proper provision in favor of the poor,
But if rich man has bonds lie is taxed on the
whole interest, because the thousand dollars is
first taken from all his income, and not from
that on his bonds alone, as the Argus would
make its readers believe
Ii the Argus wants to know why the owner
of real estate or bank stock pays city tax of
two and half per cent. while the bonds are
exempted, let it examine the acts of Congress
authorizing the loans, and it will find that the
pohuo aiO expressly exempted from
taxation by the city. 1t was part of the con-
tract between the borrower and the lender.
and we should like to have the Argus say. un-
der its own hand that in the face of this ex
press exemption, they ought to be or can be
taxed by the city. This is what we would
venture to call reputation. This is what we
call breaking faith with the creditors of the
government. This is what we call stealing
from us our good name. This is what would
weaken us more in another war, if we should
have one, than any stealing of ships and can
non by any new Floyd under any new Demo-
cratic administration could possibly do This is
a fire IN the rear that the rebels and their
friends will we hope not succeed in getting up.
The people of this country know too well the
value of their credit in the financial world. to
be willing to repudiate their contracts so long
as they are able to fulfil them The honor of
the nation will not be suffered to be thrown
away or trailed in the dust by the soldiers who
have risked their lives in defending it. or the
citizens who have expended their treasures in
uphoding it.