The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1871-03-07
The new Enrland jug.

4O NCts BMktu
New England is vast jug into which
is regularly drained, as if the country
were funnel, the resources of the West
and South
We shall compare the East, West and
South with their banks and circulation,
together with the Internal revenne taxa
ton under the act Of July IA, 1870:
The population of the whole OF New
England is 3.494,94l Illinois, Missis-
sippi. Oregon aud Nevada, 3,495, ,2S7.-
Difference, 346 Such are the popula
tions. What Of revenue, national banks
and circulation: National hanks, sol !;
aggregate circulation, $l04, ,S62. 552, in
New England. In Illinois, Mississippi
Oregon aud Nevada, national banks,91 !;
circulation, slo.s25,62s. So New En-
gland has about FIVE and half times as
many hanks. and about ten times as
much circulating money, as the Vest
We do not speak of the enormous tariff
depletion at present in addition. But
how is itas to revenue? 80
The estimated internal revenue when,
as the late Commissioner says in his re
port, the act of 14th July ..shall be in
full force" from the States of Illinois,
Mississippi Oregon and Nevada, is
$l6, SOS, 900; from all New En-
gland, SO. SOS. 900. These are oili-
clal figures. Such is the exhibit as TO
revenue under the system. not We: fairly
at work. But for the latest, year repor-
ted, the actual receipts are unconscious.
bly, unequal. For example, Yirginia
paid sixteen times as much internal rev.
enue in proportion to her taxable prop
erty as Massachusetts did.
Let US vary the comparison. Take
Virginia and Florida, with an aggregate
population Of I,45s,6O2 which exceeds
that of the State of Massachusetts by
2,251.. The latter has 2l0 nationa
banks, of circulation of $56, ,S65, $50
The two former States, 81 banks ant
g., ,203 .2S0 circulation Massachusetts
/ is to pay internal revenue, "a, 4,444,000
Virginia and Florida, s5,0S9, ,000-tha
is, with sixteen times the wealth ant
twenty-seyen times the national banl
circulation, Massachusetts pays less rev
enue than these unhappy States Of NOR
population.
Again, let US compare Massachusetts
and Rhode Island on the one hand will
Indiana on the other. The latter's pop
ulation is about thousand more. Indi
ana has II national banks circulation
$11,022, ,792. Massachusetts, and her lit
| tie neighbor have 272 banks, with circu
lation Of 500 ,335, $40. Revenue estimat
| for Indiana, 81, ,0s7, ,0oos for said States
$4,000. 900. With more than six time
the circulation, the two Eastern State
scarcely pay more revenue.
So, contrast Oregon, population 80,
922, with Vermont, population S30,5S5
Oregon-national banks L, circulation
SS8,5o0, estimated revenue Sl39,0 900
Vermont-banks II, circulation, SIS,
1915, ,270, estimated revenue, S6,000.-
Nevada and Vermont are thought to.b
about equally competent to support th
Government, viz: Vermont is TO yIel
bSSe,o00. and Nevada sS5,000. Thu
1equal, how do they compare in other re
spects Vermont has 339, ,5S5 inhabi
Itants Nevada 42,0o0--treated as sbou
Ieight times as able to pay taxes as a Ycl
fmonter, where nearly S6,000,000 Of Gil
culation issue,to Ncvada's Sll,042I
Now, is this system deservingnf til
name Of revenue? How does the res
of the country come to owe SO muc
11more to the General Government tha
New England does9 There is no sue
lpretense. Why, then. Is it levied, co
lected. and paid into the Treasury r
These burdens are intolerable--not NOR
in their enormityAof' amount Chan in'th
linsolent spirit in which they are upheld