The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1878-10-15

From the Bangor. Me-, whlg.

From the Bangor, Me-, Whig.
A very intelligent aud highly-esteen
ed citizen, who has always been n II,
publican and worth at least 90, ,00l
called on me last week. and he SCENE
inclined TO advocate the Greenbac
policy.
| asked him To state 10 me fully an
frankly his complaints and the reason
for joining hands with those whom h'
AS Republican, had opposed these 2
wears, aud il they were good sufficien
would jnin the Greenback party toe
He said he would, and began:
/. 1.-The great burden OF the nations
debt upon the people; it is crushin
their very life out"
In reply To his first complaint / said
How much money has gone fror
your pocket during the last IL month
into the national treasury more thai
you paid IL mouths before the war;
He hesitated. and then replied tina
he had never figured il closely.
"Well, " said 1, ''let us figure it. Yol
use salt, sugar and molasses, OF coursei
Yes" he replied, "and coffee an,
tea, but there was always an Impor
duty ON those articles ever since W
were a government, aud il is no highe
now, in fact not 40 high, as before tn,
war, because tea aud coffee have beeI
admitted free of duty since the war
don't complain of that.
"Well," said /, "the only other arti
cles upon which the government ha
fixed tax are whisky, tobacco, baDl
checks, patent and perfumed medicines
aud matches. Do You use any o
If these?"
"No." he replied, "only matches
from 25 to 80 lunches year, aud tn,
duty is only one cent a bunch"
Then, p" 1 replied, "you pay directly
and indirectly, not exceeding so cents
a year to the national national govern
ment. Do you think that a sufficient
cause OF complaint for us TO abandon
our principles for which we have con
tended these 30 years?"
"Nn," he said "But are you sure
that is all / pay TO the government. 5C
cents?"
"Do you," replied, "know of an
other penny which you contributed Il
the national treasury that you did moi
before the war;"
He frankly said that he did not
"But, said he, "what is all this hu,
aud cry made by these GreenbacL
speakers about the burdens of taxationi
1t mnst be all buncOmbe."
Yes" | replied, lit is the cry OF the
demagugue. You will find that the
uniform policy OF the Republican par
~ has been to tax the luxuries AID moi
the necessities Of life, thereby reach.
ing the rich and not the poor. A care,
ful examination of the internal revenue
laws passed since the beginning Of the
var will prove ii.
"Onr debts contracted TO save the
nation must be paid, aud the policy OF
the Republican party has been TO tax
those most who had the most at stake.
well" said my friend, ~ guess
you are right about the tax question
but / complain, second, that this ma
tional bank system is u gigantic swim
die Of the people, sappIng the very
life Of all business, aud ought to be re-
pealed."
IF you are correct in your state
ment," said /, ''yOur conclusion will
follow. But are you sure you under
.tand the national banking system?
Are you not deceived 10y the cry Of the
stump orators? Let us ex-
anime"
Il. Banks are places where the bor-
rover and lender Of money meet. They
exist IN all civilized nations, aud are
to thriving business
then read the National bauk act
With all its amendments, aud We agreed
10 the following facts, viz:
/. That the National bank act was
not restricted to any individual or
number Of persons, but was open aDd
free TO all who could comply with the
Inly condition. to-wIt: Deposit with
he Uuited States Treasury as many
300 Unit, d States bonds as they ISSUED
so in bills, 80 that no single National
Dluk bill can fail To be redeemed.
. That the rates .f interest were not
higher IN the National banks than they
we're IA the old State banks before the
var.
3. That no one was obliged to hire
4 the National banks If they could
lire cheaper elsewhere.
4. That h cost to The Government 10
tart and run a National bank is mere
v nominal.
$50 far" said /, "the people have
int felt any burden on account of The
y ltional banking system. have they?'
NO." he replied, excerpt that their
,apital stock. VIZ: the bonds deposited
With tie United States treasurer, es-
APE taxation"
True, said /, "but would they be
axable II there were no natiooal banks?
The bonds would be in the hands of
stockholders, and just as free from tax.
,tion as they now are. "
"No, If these banks are not burden
~ the people. are they AN adyantag,g"
1--WE agree that II there were no ma
ional banks the bonds would not be
liable to taxation. Neither the nation.
Al government nor the cities and towns
would reach them.
"By being deposited as the basis of
he issue of the national bank, does
he national government or the cities
,nd towns reach them directly or indi-
.actly?
1.-The national banks have paid into
he national treasury since the passage
4 the national bank act ESQ, 900 900 of
aXes-fOr the last fiscal year S7,500,-
No. In addition to this the stock
iolders are taxed 10y the cities aud
owns in which they live; for example,
lga
Iidibg in Bangor paid to the city
reasurer last year, as tax on their
,tOck. S26, 0O0-about one-twelfth of
he entire sum assessed.
Now, repeal the national banking
Ict, aud what have you done? Killed
he goose that lays the golden egg
deprived the United States Treasury
4 the sum 81, 800, 600 annually, and
he taxpayers of Bangor Of one-twelfth
u their present revenue, thereby in
'reasing the rate per cent. upon the
,;her.taxpayers.
Nov. my friend. said /, "ls not
hat penny wise and pound foolish
policy? You may say that these banks
nave made and are making money.
suppose they have, aud are, what IL
hat 10 you and me2 N all have equal
privileges in the system, and il costs
he public nothing, Why shall they not
De- permitted to continue as in any 9TH
n line Of business which is free aud
pen to competition"
Nv friend said he could stop no
onger then, but promised to call again
lnd remarked as he left: "If you are
,0rrect IN your statements, there has
been some unprecedented lying on the
.tump by some Of those Greenback