Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-11-01
THE WORST TAXED NATION In
THE WORLD.

THE WORST TAXED NATION IN
THE WORLD.
1t is the boast of Republican Journals
that We are the most PROSPEROUS and least
taxed people in the world, whereas, beyond
doubt, the United States is the heaviest
taxed country on the globe. The Anglo.
american Times of London says: sIf the
United States has more property than any
country, which we believe to be the case,
it also has more debts. We assume that
the people of Great Britain are weather.
than the people of the United States,
though the United States has more proper
" within its borders than the United
Kingdom. The reason is that the United
States owes great deal abroad as well as
at home, and most of what The people owe
is due to the English; therefore, persons
residing in England hold large amount
of property in the United States, while
al the world pays toll to England,
which makes the income of its people, in
the aggregate, greater than the income of
any other people; but their revenue is not
derived solely, only chiefly, from the prop
ertv within the confines of the kingdom.
Ii considerable amount of the property
IL the United States is held by foreigners,
it follows that profits made in the country
DO not all 60 into the pockets OF the citi-
zens; and in this way we account for the as
sertion that though the United States has
more property than any other country, yet
the people of Great Britaih are more veal
thy than the people of the United States.
Experience has, however, shown that from
no other nation can so large a revenue
be raised by taxation-a fact but
imperfectly known in England, where the
national Indebtedness and revenue of the
federation are alone seen, the debts Of the
States, counties and towns being unseen"
The Times then proceeds to long and
elaborate examination of the census report
on this head, and concludes as follows: at
may be observed from these tables that it
is the great cities of the Union which pay
most in taxes; the Southern States and the
young Western States levy their taxes
mostly on the counties, and that the States
which have the heaviest State bonded debts
raise most from State taxes. On the whole,
however, the conclusion to be arrived at is,
that the United States is the heaviest taxed
of all countries" Upon this point the st.
Louis Times presents some facts which
fully sustain The London journal. 1t SAYS:
"From the census reports it is ascertain
ed that the total wealth of the United
States, including its agriculture, its mines,
fisheries and commerce., counting from the
year 1866, when peace finally settled upon
the nation, increased at the rate of 81, 400
100000 every year, and that for eight years,
including the present year, the entire wealth
of the country will be 81, 200, 100000.
"In order to show whether we are taxed;
and how much, comparison must be
made with some other period of equal time
and prosperity. We take the period be.
tween 1850 and 1850, and iud that the re-
ceip1s of the Federal Government within
that time were S60I, 64S, $50, and the
wealth of the nation was put at Sc, 900, 000,-
600.
'Between 1850 and 1860 the government
taxed the people the sum of 500, GAS, 1872,
or ST the rate of O. cents on tbs dollar.
Between the years of 1860 and 1873 the
government wrung cut of the country the
enormous sum of S., 211, 100000, or at the
rate of 2S5 cents on every dollar; in the frs.
Il. h. 00l IL hn LATE
leaving them but III cents out Of every
dollar of wealth. Between 1850 and 1850
the taxation included ali the pensions and
interest on the public deb that the revenue
was liable to.
snow, taking out the debt interest and
pensions TO be net ia the years 1S60-1ST3,
which are, debt interest 1,030, 49,, 404, and
pension list sos, 119 sos, making total of
81 ,23S, 257, OO9, for eight years only, the tax
alton on which W. uld amount to almost IL
cents on each dollar of wealth for these
eight years, and then leave tax OF III
cents on every dollar of money created snd
saved, and this only that we may have
Radical government.
"The result of the examination shows
that after deduc5ing the taxes of interest
for the public deb and for pensions, the be-
nigu Republican administration EFFORTS
three times as much of taxes ont of the
people for merely running the government,
as was done in $4,000. 81
'AHd we are hourly edited by TIE repe-
tition that we are not only the most p os-
porous but the least taxed people on earth.
1t is not and cannot be true, for no such
state of things can exist as prosperity and
heavy taxation; for the latter depletes the
resources of the country and deprives it of
what it most needs-resdy money-just as
it is deprived now, and produces the very
state of things under which the country is
now groaning, an absence of moD6y to
carry on the legitimate business of the
country. -
care we a taxed people? Is it true that
this panic, which is slowly advancing into |
the homes Of the people, has been brought |
about by the failure of one railroad scheme |
or the closing of a few banks? Is not the |
cause to ba sought in the enormous taxa |
ton to which the people have been subject |
ed and the consequent locking up Of the |
soul of commerce and trade in the govern |
ment vaults?
care we a taxed people? Can any ma |
ton, no matter what their resources, trade, |
or energy may be, stand up under taxa
ton of 2St cents on every dollar they have? |
THE CUMBERLAND GAP ROAD.
From the Morr.stown Gazette of Oct. 29,
we laarn that the constructiOn of the old |