The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1882-08-29
state Scrip at Par.

The Economist Is still harping on its
fallacious theory that it was better for
the people to have State scrip at fifty
cents on the dollar, than for the State to
be on cash basis, because, it argues, the
people could purchase the scrip cheaper
with which to pay their taxes. As cor
respondent remarked last week, the Econ
OnaiSt Overlooks the fact that large por-
ton of the tax under Radical rule was
payable, not in scrip, but in cash. But
aside from that, the theory is unsound
and untenable, and must have been adj
vanced merely to mislead the ignorant
Yet the humblest citizen should appre-
ciate the difference between the credit
and the cash system The former leads
to high prices and an accumulation of
debt-the latter, to the safe business
course of paying as you go and stearing
clear of debt.
Now we would like to ask, why are the
people paying eighty thousand dollars per
annum for interest on the public debt !:
What created that debt? 1t was this
very system that the Economist now adj
vocates OF having a greater amount Of
scrip out than the taxes could meet and
thus having scrip down at fifty cents on
the dollar. While the scrip was at this
low ebb it required twice as much TO be
paid for everything the State purchased, ,
and the debt, which the people would
finally have to pay at par, was being
daily augmented This necessitated the
funding of scrip in bonds, and We are
now yearly paying eighty thousand dol
lars in the shape of interest on this debt,
created by the Radicals, by following the
insane teachings of such fnanciers as the
Economist. Do we want an increase of
the bonded debt, and a yearly increase of
interest tax? If not, then keep on a cash
basis, and pay as you go.
The Economist seems 10 think that the
only benefit to be derived from having
the State on a cash basis is that the Gov
ernor and cabinet get their salaries in
cash. AS the people at last have to pay
all their State Indebtedness at par, it
matters very little to them. But there
are thousands of citizens who would suf-
fer by deprecated scrip. We annually
summons q large number of jurors and
witnesses, generally poor people, who
have to leave their daily work to serve
the State. They get their one dollar and
quarter per day, and they deserve it,
and they need it. They are paid in cash
or its equivalent. The Economist would
Cypress these people, cause them to labor
for the State to the great neglect of their
own business, and have the State at last
swindle them by promising one dollar
and quarter per day and paying them
only fifty cents on the dollar Under this
system, the asylum, which costs $25, 900
per annum, would cost $4,000, and the
debt would thus be increased to be met
by corresponding increase of taxation
or more bOnds-and so on to the end OF
the chapter. Never was there a crazier
or more absurd theory advanced.
The same paper is perpetually contrast
ing the taxes of to-day with those OF
1850, and concludes that as we had about
seventy millions taxable resources in 1860.
and only half that amount, or thirty-fiye
millions, in 1882, we should therefore have
. decrease of taxation. Does not every
school boy see, that if we had had but
thirty-6ve millions in 1850 necessarily the
tax would have been doubled to meet the
expenses Of the GovernmentS Suppose
that all the colOred people were back as
slaves, e. they were then, and of no ex.
pense in the courts, and we had as then
seventy millions Of taxable resources
could We not at once place our taxes down
70 . very low estimate? Bot in contrast
ing 1850 with to-day, We should remeln-
Der that wehad Ear les than one half C our
present free population 1t that time. The