The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1894-07-05

OF ours, all the merchants of the
country have been instrumental in
gathering up here and there, little by
little it may be, but for thirty years
under this legislation they have been
gathering and bringing this wealth
home into their territory.
Mr.. Hoar: Will the Senator allow
me to ask him question?
Mr.. Jarvis: Certainly.
Mr.. Hoar: ask the Senator whether,
during all that time, North Carolina
has not greater advantages for doing
the same thing?
Mr.. Jarvis: No, sir.
Mr.. Hoar: They have raised the
cotton close at hand, they have their
stereams and their abundant water
power, and they are very much nearer
iron aid coal than we are. What
advantage have we had that they have
not had?
Mr.. Jarvis: Mr.. President, | shall
answer that question very briefly. We
were complete wrecks at the close of
the war. You had your splendid
factories then open and in progress
In natural advantages North Carolina,
and Georgia, and Alabama are not
only equal but are far superior to
Massachusetts, and the other New
England States. The day may come
by and by when North Carolina, and
Georgia, and the other Southern
States and the Western States will be
the equal Of those other States in pros
perity and in property. | trust that it
soon may come.
| | would not, Mr.. President, take
from New England or New York one
dollar of their prosperity Or rob them
OF one ray of their glory; but what
stand here and ask for is that the
people who are thus fortunately situated
and have these great accumulated
fortunes shall bear their just pro-
portions of the burdens of the Govern
ment, under whose laws they have
been able to accumulate these great
fortunes.
Mr.. Hoar: Will the Senator allow
me !? | do not wish to interrupt the
Senator's argument, and shall en-
deavor not to do SO again?
Mr.. Jarvis: yield to the Senator
Mr.. Hoar: The Senator cited what
either ! or my colleague or both of US
said about the $500, 900 in the
savings banks of Massachusetts. Those
$500, 100000 are the property of
100000 depositors, Or Whereabouts,
! | have not the fractions. So they
represent deposits of 5000 apiece by
the depositors. They are not the great
fortunes of which the Senator speaks.
The trainers Of this income tax pro-
vision have respected the suggestion
made by my colleague and myself,
because they propose to exempt
incomes under $1,000 when they are
not in corporate hands, and l think
the committee themselves have agreed
to exempt the savings banks where
they are banks merely of deposit.
SO the argument which the Senator is
making of this accumulation of $780,
! 100000 by the working people OF
| Massachusetts, 100000 OF them
having 5000 apiece in the savings
banks, is an argument which nobody
is now adhering to, unless the Senator
still adheres to 1t.
Mr.. Jarvis: But mere is the fact {:
The Senator himself admits that he
i lives in a country and in a section
which is SO fortunately situated, and
which has had the enjoyment of a
peculiar kind of legislation, that the
laborers of that State alone have a
bank account of 100000, 900.
Mr.. President, in the section of
country from which l come not only
the laborers have no bank account, but
! if the farmers at the end of the year
can possibly get both ends together
they are peculiarly fortunate; yet on
every proposition which has been
made here during the progress of this
bill to take some of the burden from
those people of North Carolina and
/ the other agricultural States who have
no bank account, and to leave in their
pockets little of the money which
has been gathered up year by year,
and month by month, and day by day,
and which has been carried into the
banks Of New England, the Senator
has stood here with all his might and
energy and fought.
! Mr.. President, it has been my
fortune to stand upon the deck of a
great ship as it ascended the great
Amazon River. When we entered
that river, looking to the South, no
land could be seen, looking !.,r to the
North no land could be seen yet if
you pursued it 5000 miles up you
came to the source of that great river.
All along for 5000 miles on the
Eastern slope of the Andes, in Peru
and Brazil and Bolivia, little streams
were coming up from the mountain
sides and from the earth, that flowed
on and on, each Converging and
directing its course to the other, until
by and by they united in the waters
of that great river and formed a great
sea upon which the navies of the
civilized world might meet, maneuver
and fight out their battles and have
room to spare.
So. for twenty-five wears, North
Carolina and South Carolina and all
the Southern States and all the
Western States have been flowing their
money steadily for the purchase of
manufactured goods from this favored
territory. On and on the stream has
flowed, until we see in this little corner
of our great country, having only
about 6 per cent of its area, nearly
one half of the accumulated wealth of
the country.