Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1902-02-18
A CONVERT TO ANARCHY.

The New York sun, on friuay Vi '"0I
week contained the following state
ment:
"Wall Street shivered yesterday. j.
w. Yerkes, United States Commis'
sioner of Internal Revenue, was re-
sponsible for the shiver and it resulted
I'm lower prices all around in the stock
market.
an brief. the Internal Revenue
Bureau has sent Lton into wall Street
to demand of brokers and other bor-
rowers of money a list Of the stocks
hypothecated by them for loans since
July /, 1901, so that the government
may collect on all evidence of stock
delivered as security for the future
payment of money the war tax of two
cents on each 500 of par value of
the stock"
Translated into non-Wall Street
language, this means that the spccula-
tive denizens of that thoroughfare do
not intend to pay the tax which the
law imposes on them in the prosecu-
tion of their business. If further evil
dence of this fact is needed, 1t may
be found in the interviews detailed in
the subsequent part Of the statement
referred to, in which various gentle
men, who in 1896 and later were loud
in "upholding the honor of the govern
ment," politely but firmly announce
their intention of not bearing the tax
which that same government has laid
upon them for Its support Said Mr.
Nash, president OF the Corn
Exchange Bank, and chairman
of the Clearing House Com
mittee, referring to Commissioners
Yerkes: zone man should not be
allowed to be in position to disturb
the business of the country.
II seems to me 1t Is a very unnecessary
agitation OF this subject" And Mr..
Keppler, president of the New York
Stock Exchange, said: II believe that
Commissioners Yerkes will not at this
time insist upon the enforcement of
his opinion, but that he will I'm all
probability afford us an opportunity
to present statements and arguments
bearing on the subject 1t
seems incredible that either Commits.
eioper Yerkes or any other one man
could care to take the responsibility
of disturbing the entire business of
the country by an attempted enforce
ment OF his opinion" and he added a
threatened resort to the usual resource
of this class Of patriots: II suppose
the matter will come into the courts
at once, and | do not think that when
1t comes to the courts the Commits
sloner will be sustained" Russell
Sage was OF the same declining mood
as to this branch OF "upholding the
honor OF the nation" Said he: eft
Is a hurtful thing to both Wall Street
and the government. 1t will drive
away business" Some one vaguely
designated MS IA prominent Wall
Street man. gave 1t as his opinion
that IL the law should be enforced
there as II must be elsewhere, "money
market conditions everywhere would
be disorgnnized."
This IL n singular condition of
things, taken altogether In regard
TO the which we wish to remark. Nv
the same law which these "upholders
OF the nations honor" are saying they
VIII not obey, there Is laid tax on ten
OF ten cents pound. which the con.
sumner must pay, or he drinks no tea.
every time. by the same law nlso
until that part OF II was repealed last
summer, there was laid tax upon n
multitude OF articles OF daily and
hourly use by the people, things
OF luxury, but mostly of necessity
such as medicines, notes, receipts and
the like. These imposts were collected
vigorously and remorselessly in every
Instance. Those who paid them were
In no shape to have their payments
"come into the courts" The man
who bought a box OF pills had to pay
the duty levied upon It, or else 90
piliess and bilious away. The drug.
gist did not allow him IAN opportunity
to present statements and arguments /"
The man who mortgaged his farm
had to sffix the stamps, or his mort.
gage was not recorded and would have
been invalid. The courts would have
been no refuge for him, or, IL he had
N-soked their aid, does any one for a