Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-05-17
The Income-Tax.

We have not numbered our columns
with arguments in favor OF the imposi-
ton Of an income tax, not being con-
WINGED by anything that We have seen
or heard on the subject that the men of
large incomes would consent to have
such tax levied. However, the indica-
tons at the present time are that the
Democrats in Congress. whether men of
large incomes or men of small incomes,
will at least try to make the income tax
a party measure. and will call upon
every Democrat to support the same.
The exact form of the projected tax has
not yet been settled--indeed, it Is not yet
settled beyond doubt what the rate Of
taxation is TO be, nor how much OF every
mans income is to be exempted
from taxation under the new law; but
Washington advices say that the proba-
bility at the present writing Is that an
income tax Of somo sort will. as We
have just said, be one of the measures on
which the Democratic party will so to
the country. But recollect that 1t still
rests with the men of large incomes to
say whether there shall be any income
tax or not
We said recently that the Democrats of
Virginia are as conservative as any Dem
ocrats in the land; and know that whether
an income-tax is a Just tax or not. 1t Is
so considered In England. whose states
men are perhaps the most thoroughly
IL A d..
publican paper-Yost's Weekly.-replies as
follows:
THE conditions in this country. how
ever, are vastly different from those ex-
listing in England. The surplus capital
there is invested all over the world. and
there would be no way Of reaching and
making II pay its fair proportion to the
government, except through an income
tax That capital is employed to benefit
other countries and develop their re-
sources. In this country 1t Is different
An our capital is invested at home to
give labor employment. project great in
ternal improvements. develop territory,
and add 10 the taxable resources Of State
and Federal Governments in a hundred
years. There is no samenesS in the con-
ditons and no oneness in the reasons
which apply TO the two countries"
When we recollect that all the hun
areds of millions Of dollars OF national
bonds in this country are exempt from
all taxation. we cannot but be little
surprised at the Weekly's positive state
nent above quoted. In Il speech made
November 3. 1893, before the Ways and
Means Committee Of the Fifty-thlrd Con-
gress. Hon. U. S. Hall. OF Missouri, dis
cussed at length the income-tax question.
Whoever wishes to read up on the subject
would do well to begin with that very
able speech. Mr.. Hall posted himself
thoroughly in the premises. He quotes. on
similar point TO the one which the
Weekly makes, the following paragraph
from Professor Robert Ellis Thompson,
Of the chair OF social science In the Uni
versity Of Pennsylvania Professor
Thompson says:
THE most modern. and theoretically
the fairest. form OF taxation is the in
some-tax. 1t seems to make every one
contribute to the wants OF the State in
proportion TO the revenue he enjoys un-
der It's protection, while. falling equally
on all. II occasions no change In the dis
,ribution OF capital or in the material
direction OF industry. and has no iniiu-
snce on prices. No other In 50 cheaply
assessed or collected; no other brings
nome 10 the people 70 forcibly the fact
that 1t Is to their interest to insist upon
a wise economy Of the national revenue"
Mr.. Hall quotes John Stuart Mills as
follows:
IAN income-tax fairly assessed on these
principles Is In point OF justice the least
Objectionable Of taxes"
Mr. Hall quotes the Hon. John Sherman.
Of Ohio. IS follows:
"The public mind is not yet prepared to
apply the key OF a genuine revenue reform.
A few years Of further experience will
convince the whole body Of our people
hat q system Of national taxes which
tests the whole burden Of taxation on
consumption. and not one cent on prop
srtX and income II intrinslcslly unjust