Wyandot County Republican. [volume] (Upper Sandusky, Ohio) 1869-1903, 1870-04-22

missioner of Internal Revenue esti-
mates that we can raise annually
from spirits and liquors 6S,O0O,OOO
dollars; tobacco, 100000; and
it Is clear that from lotteries, thea
ters, billiards. shows, carriages,
watches, gold and silver plate, we
can raise two millions or more.
Then let us abolish all small stamps
and raise from large ones thirteen
million dollars, abolish the income
tax on all net incomes under two
thousand dollars and six thousand
dollars, and 5 per cent. on all over,
including incomes from banks,
bonds, salaries, &c, and from those
sources raise twenty-five million
dol ars, and the residue from other
Observation-Disclosures, sue
cessions, &c. Thus we can, as the
Commissioner says .-. s...-
Sweep away the special or H.
cense tax, and all others that rest
upon the labor, industry ,and smaller
business transactions of the coun
try" .-- ,s..
The articles bought with the wa
ges Of labor ought not to be taxed
because they fall upon population,
not wealth. They crippled the erer-
gies Of labor in the struggle to gain
a competency, homes. and educa
ton for all, and th9s sap the found
ations of republican government
and bring in their train ignorance,
degradation, moral and political
desolation. The policy which in
sists upon speedy payment of the
whole debt will require that all these
taxes shall be retained, and if the
debt is to he paid without any ex-
tension Of the time there must be
raised by taxation one hundred and
fly million annually for sixteen
years to pay the principal of the
debt. This would require such an
increase of taxation rs to PROSTATE
every industrial enterprise of the
country. 7Eas| -t--zs
Is any argument needed to prove
the necessity of reduced taxation
on the industries of the country.
| The taxes levied under State and
local authority impose upon lands
and personal estate heavy burdens.
When to these are added taxes upon
sales,upon the privilege of pursuing
a business, uron production, upon
expressage and freight, upon the
capital that labor employs to pro-
duce wealth, and the wealth when
produced, the result is that the rate
of interest is thereby increased, the
profits of labor diminished, earnings
are absorbed, foreign capital shnns
Investment; foreign production
prospers not only by means of
cheaper capital and labor, but by
reason of the burdens imposed on
our own, and if VIC do not avert the
evil our waning commerce will still
grow less, old industries and enter
prises will not thrive and new ones
will not be inaugurated commensur-
ate with our wants and interests.
| I speak in the interest of labor
and for the benefit of the laborer.
When these are disregarded, our
power, our wealth, our glory will
depart.
THE CURRENCY - THREE REQUISITE
| CONDITIONS.
| The functions and uses of money
are so well understood will not
discuss them now. Without money
the business of a civilized country
cannot be transacted. Labor to be
productive requires capital or
money to buy the materials, whose
value it enhances by all the process
es of industry.
] The money of country should
be sw6icient in amount, attainable
at fair rates Of interest, and of uni
form value.
! As money is useful, the limit of
utility is only reached by a suffi-
cheney for all purposes of legitimate
trade; when it is in excess of this
it begets speculation i. furious to
the whole community, costing the
people millions for enhanced prices
without enhanced value; when it is
less than this, labor ceases to be
employed and becomes unproduc-
tive just in proportion to the def
cheney, precisely as mechanic
without an adequate supply Of tools
is unable to exhibit the measure of
his skill in production.
When money is deficient in
amount or is burdened with heavy
taxation the competition in demand
or the burdens it bears increases
the rate of interest, and this, as the
Comptroller of the Currency says
ssIs a burden on the business of
the country, and like every other
item that enters into the expense of
conducting any business, the bur-
den is borne in the end by the GUS
| toner or consumer"
or comes out of the producer.
The cost of the capital which
buys, grinds, and ships to market
the farmers grain is deducted from
the price paid him, and the cost OF
the capital employed by the me-
chanic or the manufacturer dimin-
ishes by so much the profit to him,
or adds so much to the cost to the
consumer, or more frequently is ap
portioned between the two.
When money is R~ctuating TN Ual-
ue fortunes are made and lost as
gamblers win Or lose by chance.
! When these fluctuations are sudden
and great we may well employ the
words of Webster in denunciation