The Dawson news. (Dawson, Ga.) 1889-current, 1897-05-19

Nothing will induce them to risk the loss
OF theSe states except such united action
on ne part of New York, New JERSEY
ana connecticut as would convince them
That the votes of these states conId GER
taInIy be had for the dem )cratic party
without silver, and could not probably
be had otherwise. Bat the probability
is that by 1900 New York and New Jer-
sey will be ready to vote for any demo-
cratic ticket in preference to any repub-
lican.
The manifest bad faith OF the republi-
can party in postponing the settlement
OF the currency question to the next ses-
sion OF congress, in which, moreover. it
is unlikely that anything whatever will
be agreed upon, is likely to make gold
democrats feel that the republican party
cannot be trusted for any purpose or any
pledges whatever.
Another important question looming
up in the near future is that of the in.
come tax. The democratic party will
certainly be united in 1900 in favor of
some kind of income tax. The New
York brokers who raised the fund by
means of which litigation against the in
come tax of 1894 was successfully main
ia ned have entirely forgotten in their
|
rejoicing over the dangerous decision of
the supreme court in their favor by a
majority of one that the supreme court
at the same time practically decided by
large majority, if not by a unanimous
vote, that tax upon the incomes of
bankers, brokers, merchants and manu-
farturers, derived from their business
earnings, would be perfectly constitu-
tioual, although not appor toned accord
ing to population. This, of course, is to
all of US the most Objectionable, and in
fact one may say the only Objectionable
part of an income tax.
The New York brokers who procured
the late decision against the income tax
had no real objection against the impos-
ton of such a tax upon rents and very
little objection to such tax upon the
profits of corporations and other invest
ments. What they reyolted against was
the requirements of returns as TO person
al earnings. But what tue supreme
ha. I'D -, l,0%
comes from fixed investments cannot be
thus taxed, while earnings of every kind
can be; and, therefore, the next income
tax law will impose tax upon earnings
twice as heavy as that of 1894 because
the loss of the tax on rents and invest
ments must be made up.
All that part of the inc me tax law
which involved inquisitorial methods
and put premium upon perjury will
therefore be put into force; while land
lords, who contributed nothing to the
expense of the late litigation, will enjoy
entire exemption and quiet laugh at
their Jealous and self-sacrificing friends,
the New York brokers, who will have
the privilege of paying n It only their
share of taxes but that of the landlords
to boot.
hope that it is not necessary, and
yet it may be just as vel to state ex-
plicity, that this forecast is not made
! because l enjoy the pros ect or approve
of the plans which are likely to oe car
ritd out, except so far as an increased
measure of freedom of trade is involved.
But so many business men are living in
FOOLS paradise, FROM which in the
course of a few years they Will be rudely
awakened, that it seems right to give
them some slight warning now.
THOMAS G. SHEARMAN.