Daily capital journal. (Salem, Or.) 1896-1899, 1896-09-05

as 70 maze MIN unique as a statesman
and 30 novel as to entitle him TO sacnrs
on it letters patent without question.
THE INCOME TAX,
Three years ago in its law providing for
revenue, Congress instituted an income
tax. hit had been collected as it ou0bt 10
have been there would have occurred ~,
deficiency of revenue, but at the instance
of the wealth of the country, which has
with a brief exception, enioyed an
immunity from federal taxation. tba
Supreme Court overturned the law ana
Herewith two of its own previons dac;sl
ions. The President thereupon refnsad
to enforce the law of Congress and 60
while the law stands on the statnte
books unrepealed, it has never been an.
forced and so remains dead letter. An
income tax is the most Just tax that
could be levied. A tariff tax is n taY
upon the industries Of the country. while
an income tax Is tax upon the wealth
Of the country. A tariff tar IL naces.
sarily an unjust tax, as under it a poor
man pays as much as the rich man if he.
lives as well, while he pays more if he
has larger family. An income tar is
one under which every man pays accord.
ing to his ability to pay. The most
civilized governments levy an income
tax. 1t is in reality the back bone of
the British revenue system, it is about
to be introduced in a graduated form in
France, and in Germany 1t exists in the
EXTREMIST degree. 1t is the law in the
United States, but it is not now enforced
owing to it of dyspepsia on the part of
one Of the judges of the Supreme Court,
and fit Of weakness on the part of the
federal executive. Under the next ad-
ministration it ought to be enforced.
The next executive will take an oath
that &C. he shall take care that the laws
be faithfully executed" and he un-
doubtedly will see that the income tax
law will be enforced. In order, how.
ever, to avoid any possible friction be-
tween any Of the departments of govern
ment, Congress should at its earliest
convenience pass law inhibiting any of
the federal courts, through writs of
injunction or otherwise, from interfer-
ing with the collection of the national
revenue. They have no such constitu-
tional right now, but they imagine they
have, and therefore Congress should at
once settle the matter. The federal
inferior courts are the creatures Of Con-
CESS and Congress can prescribe their
jurisdiction. Of this there is no ques
ton, and such an inhibition would be
binding upon them and would leave
Congress untrammeled in the exercise
Of its exclusive constitutional proroga-
ton "to levy and collect taxes"
so-CALLED SOUND MONEY.
A very great deal is now being said
about sound money, but when the sys-
tenn of the sound money advocates is
thoroughly diagnosed it will be found to
be the very direct opposite Of sound
money system. Misleading and delusive
adjectives have wrought vast deal of
misery in this world. The serpent per-
suaded Eve that the fruit of the forbid
den tree was "good" fruit, and as q
consequence our first parents were
driven out of paradise. The single gold
basis advocates have persuaded Congress
that theirs was "sound" money
scheme and as result our country
is plunged into the pit of industrial de-
preston and financial disaster. What
is the sound money doctrineH 1t Is to
have gold alone the money of redemp-
ton, to stop the coinage of silver, to
convert greenbacks and treasury notes
into bonds, and to allow the banks to
issue bank paper based upon these bonds,
or, as some demand, upon their capital
derived from other sources. The bank
paper would not be legal tender and
so the great bulk OF. the currency would
be a non-debt paying currency. Now
sound money is money with which debts
can be paid, and any currency with
which debts cannot be paid is not sound
| money.
It will thus be seen that the so-called
sound money scheme is one that would
foist upon the people vast volume OF
bank rag-money, which would have to
| be presented to the bank issuing the
same before it could be redeemed, and
which paper when issued by the banks,
as is the custom now, would be sent by
| Lu6Lu W poibo Va eAO ONNN-J
that it would be difficult for the holder
to present the same for redemption. II
is q delusive, dangerous scheme OF the
banking fraternity. which has fattened
and grown arrogant by governmental
favors to not only control the gov
ernment but also to enslave the people
The only thing sound about the scheme
is its appellation, and that must be used
only in q Pickwickian sense.
1t is alleged that the prince OF dark
ness when occasion requires in order to
further his nefarious purpo es can ap'
pear as an angel of light, and in imlta
ton of this illustrious example, If moi
animated by like purpose, the adVo
Gates of an unsound bank rag-currency
bereft of a debt-paying power whicf
they propose to be the main and only
currency of circulation, are now atti
tudinizing with all the grace OF puoli'
benefactors, before the people OF thli
country as the only advocates OF sounC
money. The plain issue is between tn
silver dollar and the bank notei betweel
Il