The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-07-23

structiOn. It's development since its emanci-
patton from carpet-bag rule has been phe-
nomenal. It's mines, forests and fields are the
richest in the world. The possibilities OF
the soLth for industrial development cannot
be exaggerated. The time is not distant
when the south will surpGss any other sec
ton in the manufacture of cotton, iron and
wood. 1t has the climate, water power and
raw material in abundance for the building
up of great Industries. 1t has ample trans
portation by rail and river. The south has
suffered in the general depression, but with
remedial legislation by this congress and
the return of confidence in business by rea-
son Oh the accession to power of the demo
cratic party, her Industrial growth will be
greater in this than in the last decade.
The south is today the best field in the
union for the investment of capital In lands
timber mines, furnaces and railroads. l can
recall when the south was the Wealthiest
section of the union. expect to live to see
the time when the former predominance
and wealth of the south will be restored.
Financial Legislation Needed.
l know that the people of New York
who have always been the friends of the
south will be glad to hear this favorable
report of the industrial prospects Of the
southern states. Our people are dissatisfied
with the financial legislation of the federal
government, as well as with the burden
The south favors the repeal of the 10 per
cent tax on state bank notes. 1t favors the
reconciliation of silver. Business needs
a larger volume of currency. With the i'm
mense growth of the country. it Is believed
that this government has the power to es-
tablish a financial system independent or
the nations of Europe, and the ability to
maintain the free coinage of silver and
gold and preserve both at a parity. The
contraction of the currency by the demone-
tization of silver appreciates the purchasing
power of gold, depreciates the value Of
agricultural products and reduces the wages
of labor. The gold standard places the
debtor at the mercy of the creditor, and
paralyzes, to a certain extent, the business
of the country. AS the United States are
Independent politically of European ma
tions so should they be financially The
south believes that the federal government
should restore the free silver and gold
coinage of the constitution, which it main
tanned until 1878 at ratio first of Is, then of
16 to L. and that it should do this with or
without international agreement.
An Income Tax.
1t is maintained that an income tax has
no place in the tariff bill and that no such
imposition should be fastened on the wealth
of the country. This tax is denounced
unconstitutional and inquisitorial and
democratic. 1t is characterized as sectional
a tax upon industry and thrift Its oppo-
nents speak of it as an effort to engraft
upon our republican form of government
the Objectionable taxing features of Great
Britain and other Tonarchical governments
of Europe the price that the nobility
pay for class privileges, but these argu-
ments not tenable. An income tax is
the most certain, the most equitable and
just of all forms Of taxation, because 1t
places the burden upon those who are best
able to bear it. The wonder is that after
its enactment it was ever abolished. The
party that agreed to it betrayed the rights
of the masses.
The repeal of the income tax was carried
by the advocates of the protective tariff,
because it made more secure the necessity
for taxation by import duties, thus impos-
ing upon the people the burdens of high
protective duties on the plea of raising
revenue for the support of the govern
ment
While it Is true that the citizens of the
respective states have to pay taxes for
the support of city, county and state gov
ernment, that is no reason why they should
not, in proportion to their ability,
tribute to the support Of the federal govern
ment That the wealth of the country in
a republic should be practly exempt from
federal taxation is a proposition that the
fathers of the republic never would have
sustained. That the entire tax for the sup
port of the government should be placed
upon consumption is a monumental wrong.
1t IS true the fathers are on record as in
favor of q tax on imports for the support of
the government. That was the only avail
able plan in the early days. 1t served for
revenue and incidental protection to build
up the industries of the country. In those
early days the population numbering not
many millions was scattered along the
seacoast. Rich men were few. 1t is safe to
assume that there We're not many million
aires among them.
The Necessity for 1t.
The largest amount of gross expenditures
in any year Of President Jefferson's ad-
ministration did not exceed $1,000 600
In 1860 the gross expenditures We're
&7,00O,OO0 with population of
81, 100000. In 1894 the populat ton is
Go, 090, 900 and the expenditures of
the government will be $450,000,0 600 Taxa
ton without representation was one of
the grievances against which the colonies
protested. In this day the reverse is the
case. We have representation without tax
alton except what is contributed by indi-
rect taxation. The masses have to support
the federal government, while the rich peo-
pie, many of whom do not live in the United
States, pay very little or nothing to the
support of the government that gives them
opportunities to amass colossal fortunes
and that protects their property in their
absence.
In the progress Of this great country it
is a crying necessity to find other re-
sources of revenue than taxing the toiling
millions for its support. The justice of
this proposition must be apparent to every
Intelligent and patriotic American. The
wonder is that the poor have not rebelled
against an unjust and iniqutous system
of taxation that has plunuered them under
the forms of law. 1t is not communion nor
socialism to demand that wealth shall do
in this as in all civilized countries-pay
taxes for the support of the government in
proportion to its ability. This is the prn-
ciple laid down by Adam Smith in 17l5
and it is as correct in its application now
as then:
THAT subjects of every state ought to
contribute towards the support of a govern
ment as nearly as possible in proportion to
their respective abilities; that is in proper
ton to the revenue which they respective
ly enjoy under the protection of the state.
The Law in Europe.
This is the law of taxation in England,
in Germany, Italy and in other countries
Of Europe except France. Gladstone de-
clared the income tax to be "the instru-
ment of the reform of Englands CONNER
cial and financial system, and one which
had laid the foundation OF similar reforms
through every country of the civilized