Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1875-09-25
INSIDIOUs TAXATION.

The heaviest taxes are those which men
do not see They are never on the as
sessment roll, and never called for by the
collector. But they impoverish dread
fully for all that.
Paper as an exclusive currency levies
an insidiOus tax, and most of it falls on
the poorer classes. If they accidentally
burn up rag promise to pay, or let it be
soaked with liquid, or torn into pieces,
or dirtied so as to be illegible, or blown
by the wind out of their reach, the loss
is all theirs. And such grievous loss is
constantly happening to people who
handle small sums.
Not so with gold or silver money. 1t
never burns up, or sOaks away, or gets
torn to bits, or dirtied soyou can't tell its
value, or blown by the wind beyond
your reach. 1t is never bursted by the
governments falling into the hands of
rogues and refusing to redeem, for it car
ries its own value in itself, the world
over. Coins are in existence and are
worth their weight to-day which were
issued before the Christian era, and every
gold, silver or copper coin ever issued
will promptly command the full value of
| the precious metal in it.
AS rule, paper money never out1asts
the government that issued it, and in hun
dreds of instances it has not lasted even
so long as that. Besides the loss from
wear and tear, there is the risk of repu-
diation; and Democratic practice in
Mississippi, Arkansas and other states,
not to mention the litter Of "wild-cat'
and ''stump-tail'' banks, chartered by
Democratic Legislatures expressly to
plumber the people-all prove repudia-
ton to be a favorite practice of that sre-
form" party.
Not SO with coin. 1t bears the evil
dence OF intrinsic value on its face; it's
worth is in itself, and cannot be changed
by political or financial tricks or explo.
sions. All the world receives it as good
money at par. The value of an ordinary
gold or silver coin is not much lessened
by fifteen or twenty years of ordinary
wear, while the average life of rag note
is less than two years. 1t has no value
beyondap indefinite promise to pay. and
"nO man knows that its redeemer liveth."
Of the whole amount of scrip issued by
the United States since 1862, which is
1910, 100000, atleast 100000 Cor three
per cent? have been lost to the holders.
Add to this flood of counterfeits
spawned by aper money mania, and
it will bes people are paying
an alarz1l1 for the use of
depreciatsd shinl
Nor is that all. The loss by the de-
struction OF legal tendesis still heavier.
1t has been on the issuesof government
currency between 1862 and 1869 alone, as
shown by the Treasury records, some
$20,000,0O0; and it is estimated that the
total loss on this paper, should govern
ment redeem it in 1879, will fall little
short of $50, 100000, excluding the loss
~ uOplCCidtiOIs
There will always be some loss where
paper money is used, but on notes pay
able in coin it would be inconsiderable
compared with the above showing, as
such notes cannot be kept long i'm circu-
lation, and are frequently replaced by
new ones; while at the present rate of
redemption a national bank note goes
through the Treasury about once i'm
eighteen months, and the chances are
very much in favor of its loss or destruc-
ton in less time. Specie redemption
would save most of this enormous waste, |
and at the same time give us reliable
currency, good for its face value every
where.-Lansing Republican.