Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1890-12-10

Having instituted the cumulative
succession tax, we should next abolish
all other forms and kinds of taxation
except graduated or cum ulative tax
upon all incomes above S2 900 per an
mum and tax upon the market value
or actual selling price Of all lands; as
sessing all lands for taxation without
any reference whatever to the improve
ments situated thereon. Or, instead of
q graduated income tax we might in
stitute a system Of graduated or cumu-
lative taxation upon capital stocks, in
cooperating the principal of taxing sep
arate firms, which are members of COM
binations or trusts, at the rate appli-
cable to the total capitalized
value or stock Of the entire
trust This would wipe out trusts
Such taxes to be graduated or cumula-
tive, and to be levied at such a rate as
will barely provide sufficient revenue to
the National, State and municipal Gov
ernments to pay the expenses Of the
same economically administered Each
State to pay its quota to the General
Government in the same ratio that the
total amount of taxes collected by each
State bears to the total amount of taxes
collected by all the States
The cumulative feature of this land
tax would destroy land monopoly by
making it unprofitab and expensive
80 hold large or valuable bodies of land.
How would this tax work? The basis
rate of one and one-tenth per cent is
levied upon the humble home of the
poor man worth 81, 900 or less The rate
increases one-tenth of one per cent
with each 81, 900 increase in value up TO
$40, 900, at which point the tax is two
per cent. Then increase the rate one
tenth of one per cent with each so, 900
increase in value. Thus the tax is two
and nine-tenths per cent upon q valua-
ton of 800, O0O-and six and nine-tenths
per cent upon va, uation OF $500, 600
We thus to a very great extent dis
pose of rent as the greater portion of
the rent charged for the use of land
would be returned to the people, by the
owners of the land, in the form of a
land tax. But while this would be the
fact 1t would not take all the rent,
thus leaving a sufficient inducement to
compensate men for owning land and
acting as landlords and owners, in addi-
ton to the fact that the land being the
basis OF the money of the Nation, would
occupy the position that gold and silver
now occupy. Besides this rents have
natural tendency to equalize them
selves to the rate of interest obtainable
for money. Rent and usury being thus
disposed OF, we are now able and
abundantly prepared to regulate the
profits in all mercantile and manufact-
uring industries by inaugurating a sys-
tenn of unrestricted and absolute free
trade, at the same time main tanning and
regulating wages by thorough organ
ization OF wage workers in cooperative
trades unions.
In reference to the respective merits
of protection and free trade, it must be
remembered that leaving altogether out
OF the question the claims of labor, it is
fact, that honest American capital in
vested in honest industries, stand no
manner of chance whatever of compel.
ing with British capital invested in
manufacturing and commercial enter.
prises. SO long as call loans are worth
but from to per cent in London and
range from to As per cent, and quite
frequently from 10 to Is per cent in
NEW 1OTh ~ 40 = eco
nomical axiom that cheap capital can
undersell dear capital II the financial
system remains as IL 10 we must have
more and cheaper money or high tariff
duties on importa
There is one other requisite qualif.
cation or attribute necessary In q
National currency, which bAs not yet
been considered. refer to its hexi-
bility Of volume. or sdaptability and
regulation of volume in circulation to
the needs and necessities of domestic ex.
change, and the volume of business
This subject OF hexibility Of volume
Is now engaging the attention of fnan-
ciers and business men in all civilized
nations. This attribute called hexibil-
fly should be so governed as to be auto
matte or self-regulating in its opera
tlons and entirely at the discretion OF
che people, without the Intervention Of
banks or money lenders
An English financial magazine saysi
"a plan OF CURRENCY reform has been
promulgated BIZ Me LiTerDOol Currency