The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1868-09-29
THE SPIRIT OF DEMOCRACY.
HENRY r. WEST Eator and Pro-
pr1etor.
National Bank Stock EXemptfrOm
Taxation.
THE Falsehoods of the Athens Messen-
's' 80 ger Exposed.
The Taxes Paid Dy National
Banks Refunded.

The following article from the Athens
Messenger of August 13 is false, with the
exception of the 500 license and the five
per cent. tax on all over 81 900, from be
sgihning to end!
from the Athens Messenger, Aug. 49,
NATIONAL BANKS AND TAXATION.
The Democracy, true to their propen-
sity for misrepresentation, are busy with
the cryof Banker! Banker! against Mr.
Moore, thinking thereby to arouse
some Of the old, dead issues that
went down to oblivion with their defunct
Pendletonian greenback dodge of last
Fall, at the New York Convention, awhile
ago. They say the National Banks es-
cane taxation-the stockholders do not
bear their share of the public burdens,
and that Mr.. Moore, as a banker, enjoys
immunities from taxation not enjoyed by
his fellow citizens, generally. Now we
are happy to say to, our readers that all
this is not only false, but further, that
stockholders in the National Banks pay
much larger per cent. of tax than al
most any class of capitalists in the coun-
try.
To illustrate, we will take the National
Bank of Athens, of which Mr.. Moore is
President. In the first place, the capital
stock of the Bank is $50, 900, secured by
the deposit of $780, 900 in Government
Bonds with the Treasurer of the United
States. Upon this, the Bank pays the
came rate of State taxes as any individ
ual pays upon money capital. This tax
amounts to nearly $1,400. So there is
no exemption from tax on its capital,
though that be represented by Govern
ment Bonds. This is in accordance
with the decisions of our own State SUI
preme Court, and the Supreme Court of
the United States.
The Bank next pays to the General
Government, by direct taxation:
/. A license tax of $100. a6
2. One-half per cent. on its deposits.
8. One-half per cent. on so much of
its capital as is not invested in Govern
ment securities.
4. One per cent on its circulation.
b 8. Five per cent. on its earnings.
Certainly, then, the National Bank
stockholders do not escape taxation, either
from the State or General Government,
but on the contrary they are very heavily
taxed-far more heavily than any other
class Of persons in this community. The
tax paid by this Bank, to the General
Government, amounts to nearly $4,000
year, besides, as before stated, nearly
81, 400 paid as a State tax under State
laws. Whereis the.man in Athens Coun-
ty that pays as proportionately large a
tax as the stockholders of the National
Bank at Athens? We have several far
mers in. the county worth $4,000, a sum
equal to one-half the capital of this
Bank. Which of them pays tax of ST.
go, half the tax paid by the Bank ?
And, in view of the fact that this Bank
pays tax. of nearly $4,000 yearly, to
the General Government, we would ask,
how many, even Of this class of farmers,
pay any tax at all to the General Gov
ernment? We defy any one to contra
dict the facts and figures we give above.
The demagogue who, in their face, will
repeat his lies deserves to be set down
where he belongs-among those who
wilfully and knowingly falsify for parti
san purposes. We have not space for
further notice of this subject this week.
We will revert to it again.
The following circular was forwarded
to County Auditors the fall of 1867, by
the Auditor. of State. 1t explodes the
above completely.
We extract from a circular of Auditor
of State GOODMAN as follows:
% t.AUDIToR OF STATE OFFICE
- ssCoLuMBUs, O., Dec. 80, 1867.
"GENTLEMEN: The Supreme Court of
this State, in accordance with decisions
of the Supreme Court of the United
States, have decided that the taxes as
sessed in 1864, 1856 and 1866 on shares
in National Banks, were illegal, the Cen
eral Assembly passed Joint Resolution
(see Gath o. L., p. 334, authorizing re-
payment to the shareholders of the seye-
ri amounts Illegally collected of them,
by the remission of future taxes assessed
on the duplicates against them. +"
ssIf further efforts are made by this
class of our citizens to evade taxation in
the future, we shall have the privilege of
dispensing with the system of National
Banks, if we think best"
The Auditor of State knew when ne
penned that last paragraph that he was a
villain, because the Radicals in power
have no intention of tightening the bur-
dens Of the people by abolishing the Ma
tional Bank swindle. With them and
their influence they expect to control and
beggar the taxpayers and hold power.
Monroe County Taxation and
Gen. Wildes.
At Brownsville Gen. W1LDEs made the
statement, based upon figures furnished
by Mr.. WARREN HoLLIsTER, of Woods
field, that the taxation in Monroe Coun-
ty for 1868 was 100000. He appealed
10 Commissioner MURPHY to substantiate
his base falsehood. MIr. MURPHY did moi
know the facts, therefore did not assent
The facts are, as taken from the Audi
tors books, that the total county taxes
for the year 1868, including debt, expen
ses, infrmary, bridge and road, amounts
to only s29,553.
The total tax for all purposes in 1861
was SS5, 1852, which shows decrease ii
one year of s6,109.
The above proves Gen. WILDEs and
his Aids, tools of MOORE, to be wilfu
liars, for party purposes.