, 1881-01-11

TOR twenty years At per cent? MT. hEifGt,
u Ohln. predicted TINT not pnu y per cent
ho,,h wnnld be taken in Ohio. Mr.. Itur.t.
tho Democratic statesman from Toledo Ohio.
Is ahuut to retro frutl pn!ic life, md It is to
he E,opc.l tint III hts leisure hours 10 will glvn
some attention to finance. Ito believed that
atl tile public tlebt could be phil In ten years
by pling on taxcs. lilo believed the coun-
Try was rapidly going to ruin. lila was
not rcelectcd.) lto wanted no currency but
gold. f.cgnl-ten,cr 'parcr and silver money
he denounced rs "frn,nls," Rml lia gave
warning TINT there wns opening fearful
clIastn Of ruin Into which the couhtty Was
''nstcntng with terrible speed. 1le was for
pllfnE OIL lakes nnl paying tho debt now; !;
Issuing no more b0iltts, paying no more in
lercst, but getting ont ot debt, and then
going Into tho cltasm enpty-ha1llcd. Chal-
hhcfs, OF Mississippi, however, had oil tho
financial problems strung upon sliocstrlnE.
no W"l'tu foto against tile Funding blll
heca'tso "such Inv mi ght change tho
terms OF tho cohttact ,,nsler which bonds
were nasob'o in gold and silver"
Chalmers Is evidently better vcrscl In
counting Oallots than IN managing National
'Ita1lees, mil no breads, perhaps. tint sonlo
sihatholls printer or engraver might Insert
on tho luce OF Ito new bt,ntss dnst or soMo
other distinguishing mark, under which tho
lie" bonus woulu fase TO be repuaiated.
thrown out eilu not counted, to TIC loss OF
tloso entitled to them.
Io"nshcntl tDem.), Of Illinois, talked
learhedIy 0u0ut tho boiitIs Of tho Gover,|-
nclit NOT being taxed, Which, ho claimed.
WIS etl"o1 toH per cent lit tlselr favor ovor
nthcf oo,ds. lilo CITY OF fCittcago made Ionn
t''o other day at per cent, and could have
sou ilve times as 'nahy bonus at TINT rato.
Nonlii'ally these bonds are taxable, but really
tnoy hrc not; an! had there been my tlaugcr
OF tslelr being taxed nnbody would have
tollcl'ed tlieut. Practically, no bonds OF any
kind are taxed.
Daflhg tlls whole debate tho reader Will
search III vain Tor suggestion of tho real
points Which should govern the action of Con-
gress III this inntter. They are, briefly: IL Tho
uovet'1nent las no reycIine save What 1t OBJ
tairs by taxailolls co There Is now yearly
surplus revenue varying between fifty and ono
| hiihdrea millions Ut Aollnrs above the needs
OF tic Government, which Is conclusive that
taxation Is TINT much too fIgl,. 81, Tllssur-
plila war-tnxatEoll Is taken from tho hands Of
the people, take1 from TIC wages or working
iuhn Of TUG country, aud Is worth to
the people III their reproductive industries,
whence 't is taken, from TO III per cont
Ihere are now hundreds OK millions OF bontis
a''d mortgages ai'd othor debts' bearing from
TO lo per cent Interest, Issued by private
perso',s' anu py corporations engaged III
every brnlsc'l OF productive industry. These
bonus anil debts arc ten times As great as tho
National debt Such persons want this
money to pay tllelr own debts and to enlarge
and improve tllelf. own business. Every mall
Ntactnfer anu ngrlcuiterist Iii tho lan1 Is
crippled and injured becausu OF this oncrous
tax, BY Which a portion OF his working cap
itai Is taken from Him every year. The all
na1al value Of these hundred millions Ut dol
lars OF unnecessary Federal taxation to
those, from whom it Is taken Is tho real
and the only true figure by which this
proposition to exchange 3pcr cent bonds for
and per cent bonds can bo measured. Is