Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-03-06
FINANCE AND TRADE.
OFFICE OF THE DAILY APPEAL,
MEMPHIS, March 4, 1871.
MArFRIAL

MATERIAL A~OMEAhAcONE
The West and South, SAYS the Wash
InV+on Patriot, drain into the North
east as IL the country were a funnel,
and New England g Jug. We live
under a system of taxation and reg
ulatiOn of trade and industry that
really renders New England a treas
uTy of plumber, and the rest Of the
country a field Of spoil. The worst Of
DC is. that we have been cheated into
the adoption of this organized IA
paCity by clothing it with the sanctity
OF law in our own culpable credullty,
and bv indulging "a W represen-
tgfives. after they had sold US again
and again TO the tariff and revenue
s'rfnps.' Already the country gives
signs of characterization, but when
the Internal revenue law Of l4th July,
1870. shall have been fairly in Oper-
alton long enough TO work secondary
consequences, let Us expect some COM
motion. indeed. These statements
are not exaggerated. In unstudied
phrase. they are nevertheless short of
the deliberate results of cold logic.
Here are the figures themselves.
For simplicity, let us compare the
East. West, and South, by sample,
taking the illustrations upon chance
that Is, contrasting populations APP
prOEim8tiug each other, without re-
gard 10 other cOnditiOns-and see how
they turn out. Wemight, of course, |
make the argument appear stronger
still by combining States with re-
gard to the points we make, and al
lowing for balances of population.
The population of the whole of New
England IS 1884, 4I. Illinois, Mis-
zissIpui, Oregon and Nevada, 3,495,
ZsT. ID ference. 346. Such are the
populations. What ~OfrevenUe, nation
a banks, and CiscUlatiOu2 National
banks, SOL; aggregate circulation,
SIU4.s .552, in New England. In IL
Iin0is, Mississippi, Oregon, and Ne
vada. national banks, 81; Circula-
ton. SIO.32j.62q. So New England
has about five and a half times as
many banks, and about ten times as
much circulating money as the West.
We do not speak Of the enormous
tariff depletion at present in addition.
But how is il as to revenue? The
internal revenue when, as
the late Commissioner says In his re-
port, the act of l4th July "shau be in
full force from the States OF Illinois,
Mississippi, Oregon, and Nevada, is
49, 900; from all New England,
lG.tgs.UJl. These are official figures.
such is the exhibit as to revenue I'M
der the system not yet fairly at work. S
But for the latest year reported, the
actual receipts are UncOnsCiOnably I'M !
equal for example, Virginia paid six I
.een times as much internal revenue :
.u proportion to her taxable property ]
b. Massachusetts did.
Let US vary the comparison Take 7
Virginia and Florida, with an aggre-
population of Lass, SOP, which
exceeds that of the State of Massa ,
-husetts by Dol. The latter has 30 h
rational banks,Ofa circulation OF Sj6,- [
.55.s3H. The two former States, Z
II banks and 8, DOB, 80 circulation.
Massachusetts, is to pay internal rev.
-uue. aA48A. 600; Virginia and FlOri- 1
ia. 5.U3g, UJO-that is, with sixteen g
lines the wealth and tWenty-seven
ines the national bank circulation,
I-a--achuzattg pays less revenue than S
hesa unhappy states OF more pOpu-
alton. ;
Again. Jet us compare Massachu-
af.- and Rhode Island on the one
lsuG with Indiana on the other. The
alters population is about a thou c
and more. Indiana has n national i
circulation, Sli,022, 1872. Mas
lchusetts and her little ueighbOr have i-
- banks, with circulation OF 500,
85.5IU. Revenue estimate for Indi-
ma. "a u,7, 900; for said States, ST.
5000. With more than six times
De circulation, the two Eastern States a
arcaIv pay more revenue. So, con- g
-a4t Oregon, population sJ,322, with ID
-erm0ut. population 800, $50; Oregon 81
national banks 4, circulation SIS, 500,
-tlueIei revenue $4,000; Vermont +,
banks -, circulation -. $40, 20, es- y
mataFravauug Ss6. 1000. Nevada and y,
armant are Thought to be about d,
qualify ermpeteutt0 support the Gov
rumrHs. viz. Vermont is to yield al
$4,000. and Nevada SS5, 900.
asu.I. how DO they u
rmHara Iu other respects , Yer 5.
has 1N.5el inhabitants; h
--va#a. - UU0-traated as about eight
mes as able tI pax taxes as q Yer s
I0uter, where nearly six millions OF
regulation issue 90 Neyada's Slll, O42. z,
Now. is this system deserving Of the o.
OF r|eyeuue2 How does the rest
rho country come to owe so much a
.ora 10 the General Government
New England does? There is p'
% such p]retecse. Why, then, is it
collected, and paid into the q
reasurv These burdens are int0l-
ubIe-uat more in their enOrmity Is
amount than in the ihsOlent spirit
D which they are upheld. a
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