Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1898-02-03


Chandler of New Hampshire and Quay
of PENNSYLVANIA, both of whom have
leanings toward silver, voted for it.
The vote was not at all indicative OF
the free silver strength in the Senate,
because it put the gold side in the
worst kind of hole 1t is confidently
asserted that free coinage, pure and
simple. couldn't pass the Senate. The
House speedily killed the resolution.
The purpose was to show how strong
the friends of silver were in the SEN
ate. 1t is evident that no change in
the currency can be brought around by
the present Congress.
President Mckinley made notable
speech last week while a guest at a
manufacturers banquet in New York
city He came out strongly in favor OF
currency reform and devoted much ell
oquence to the danger of an unsafe
monetary system. He seems to take it
for granted that something serious ails
our currency. What is the matterP Is
any one afraid Of any particular issue
of government money, whether gold or
silver coin, gold or silver certificates,
greenbacks, treasury notes or any Of
the others that 90 to make up our nine
different kinds of money? Not bit Of
it. Every dollar is as good as every
other dollar. Nor Is there any basis for
fear that it cannot be so maintained as
long as the present system continues.
DO not our currency reform a9itators
see that while on the one hand their
task is futile, owing to the present con-
stitution of Congress, on the other
hand they are furnishing powder
for the silver promoters by continually
harping on the alleged unsafeness Of
our currency II something does really
all it in the opinion Of the people, they
will be much more likely to prescribe
free coinage of silver than any remedy
so far removed rs are most of the
schemes Matched by the banking and
capitalstic fraternity, Mckinley has
made a mistake in pandering to this
idea of an unsafe currency.
4 change in the tax laws OF Mlssa-
chusetts is under consideration which.
If adopted, will exempt from taxation
stocks, bonds, mortgages and other
evidences Of property All of these
are now doubly taxed, the same rs in
Vermont or at least an effort is made
to tax them twice BY this we mean
that the property itself is taxed and
also the title TO il. For instance, if a
corporation owns mill, the mill is
taxed and then each member of the
corporation is taxed individually for
his interest in it, On the other hand
if the mill were owned by single
person or by Il firm it would only be
taxed once. There is no Justice in
such a system. The objection to Il
change comes from those who fear that
in some way it would benefit the rich
On the contrary the poor and the
debtor class would profit by any mod
ification that would mean cheaper
money and lower interest rates, not to
mention the stimulus that would come
to business. Double taxation, whether
of mortgaged real estate or anything
else, is wrong in theory, wrong in
practice and deserves to be wiped out. |
New York, we note also, is on the |
point of casting it overheard. Neither
OF these sister states is so badly OPP
pressed by it as Vermont. People are
having it brought to their notice more
and more and the time is speedily
coming, we believe, when one tax and
that just one will be levied on all |
kinds of property and no person will
be obliged to pay taxes OH his debts.