The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1878-09-10

revenue collected i'm 1876 was S2G5, ,O0O,-
900. and in 1877 about S2i9, 900, 900 (as
shown in the American Almanac, page
244). Estimating the population of
about S6 per head. Cary lies TO the
extent of Sll per head; he lies down
the circulation 33 per cent, and lies up
the taxes 1870 per cent. and he knows
il.
UNEMPLOYED LABOR.
At the outset OF his speech Cary had
evidently felt the lash Of the press for
his exaggerations, and only said that ga
very large number are unemployed,
the productive industries are paralyz-
ed, merchants can't pay their rent aud
clerk-hire, and farmers cannot get a
living and save anything unless they
are pinching old cusses, who wonld
get rich on two nickels n day" Twice
after in his speech he asserted that
there are 1000, 200 Of men in this
country seeking for labor and unable
to obtain it. This is one-ninth of the
whole laboring force Of the country,
and in Lansing il would show at least
| 100 enforced idlers, in lngham county
/ $50, i'm the State of Michigan 81, 900.
| Every observing man knows this 10 be
gross falsehood; and the statistics
lately gathered with extreme care in
/ Massachusetts, show no such appalling
results.
Last March, at Detroit, Cary said
there were 5000, 600 wholly out OF work
/ 1900, 900 more only half employed, and
/ 5000 900 more who, il obliged to lie
| idle for one month. would starve with
/ their families. This was so ridiculous
/ that in June at Ypsilanti, he reduced
I the number To 1000, 900 in each Of the
\ three classes. At Jackson, in August,
| he got IL down TO 200, 900; and nc
Lansing no only pretended that there
are 10000 unemployed. He says
nothing about the half-employed, and
/ those who hang on the ragged edge
with only one months earnings be-
tween taem and starvation. At this
rate Cary will have all the laboring men
at work before election. We submit that
he is swallowing his own lies about as
/ fast as even "A man with an ostrich
stomach like Isis could be expected 10
do.
THE INCOME TAX.
Cary pronounced the income tax 10
be the only just and proper tax ever
| levied in the United States since the
war began. OF course he didn't like
the whisky and tobacco tax; his tenn
perance principles were too weak TO
/ carry him so far as that; but the income
/ tax, he said struck the rich man and
the heavy capitalist, and was the only
tax by which such men could be made
10 bear their share OF the public bur
den. They had to pay taxes on what
they got from dividends and interest
on bonds. Old A. Il. Stewart paid
$3.50, 900 income tax per year. Here
Mr.. Cary falsely cites the detested
bondholders by naming man who
made his money ont Of dry-good, "a
specimen of the bloated trader, who
was swelled beyond all bounds 10y the
rise in the value of merchandise conse-
quent on a deprecated currency. Stew
art never invested in government bonds
or bank stock. The wealthiest men in
this country have been merchants.
I manufactures, real-estate owners, and
railroad men, not bondholders. But
Cary said tie income tax was prompt
ly repealed by rich men, who lobbied
IL 10 death IN year or two.
Here is another Of his matchless lies
The income tax (see American Almanac
for 1865, page ca first took effect in
1863, and was continued in force until
the close OF 1871. II was thus collect
eel from the people for nine successive
years, more than double the period of
the war. II was an unequal tax, grind
ing men OF salaries over 81 900, and
men of small permanent incomes, while
men Of great wealth. whose profits
were uncertain. usually managed 20 es-
cape, aud thousands Of them swore
down their incomes. being able TO do
so from the nature Of their business,
like Samuel !. Tlden. The incbme
tax was never resorted 90 in any cCun-
try except from the pressure Of war. AS
IL is an unreliable, unequal imposition,
Offering "A premium for perjury and dis
honesty. From the way Cary talked
Of the income tax, one would suppose
IL 10 be the only deceut tax ever levied,
and that it lasted only a short time;
whereas IL was n severe tax on the peo-
pie Of moderate means who were hon
est, and was evaded by the dishonest
ones like Tilden and Cary. the latter
Of whom grumbled because has tax was
taken ont Of his salary "a congress-
man.
COIN PAYMENT or BONDS.
The chief grievance Of the people, ac-
cording 10 Cary, is that certain bonds
Of the United States, known as 5-20's,
we're at first made payable in green
backs, but by the terms Of the laws of
1869 they became payable finely in
coin. This is pet lie among the ire
deemables, but II has no foundation,
and has been exposed hundreds Of
times. The original act Of 1863, under
which the 520's were issued, made the
interest payable in coin. and one per
cent Of the principal was annually set
apart IN coin as sinking fund. These
bonds did not state on their face nor
did the law prescribe how they we're TO
be paid. We write this with one OF
the bonds at our hand, aud il calls for
so many dollars" Every previous
bond which the United States Issued
called for a given number of dollars,
not in special currency, for no curren-
CIV was recognized in government pay
ment up to 1862 excepting coin or its
equivalent. All the earlier bonds Of
the government read precisely like the
J-20's. All the debates and all the cir
culars and advertisements of the gov
ernment, inviting people TO invest,
show that the principal as well as The
interest Of those bonds was intended TO
be payable in coin. The idea OF pay
ing them in deprecated promises to
pay never was broached until 1861, and
the "boss" repudiator was George III.
Pendleton. He had influence enough
TO infect the State OF Ohio, both Dem
ocrats aud Republicans, with this idea.
John Sherman and Senator Morton
hirted with il, but il was never accept
ed by the Republican convention ex-
cepting ono in Ohio, and was expressly
condemned in the national Republican
platform Of 1868, on which Grant
was elected overwhelmingly. The
Strengthening act" so-called, passed
in conformity 10 the will OF the major
ity, does not change the method OF
payment of a single bond, but declares
that all bonds not specified are 10 be paid
in coin, thus confirming the contract as
II originally existed and was understood
and had been uniformly carried out.
This was done TO enable the govern.
| ment TO fund its 6 per cents into bonds
al lower interest. and il accomplish.
ed the end. All the 8, a., and 4 pei
cents. which have since been issued
, take the place Of g per cents. and the
interest charge could not have been re.