Year: 1865

This subject is beginning to attract the
attention its Importance deserves, and we
venture to predict that the day is not dis
tant when the taxation of incomes derived
from Government bonds will be an i'm
portant and controlling issue in our elec-
tions. The people Of small means, con-
stituting the great bulk of every comrlu,
nifty, are not going to quietly submit to
see their rich neighbors enjoying cxcmp-
tion from the taxation which is robbing
them of tie fruits of their toll, and they
will unite to prevent the election to office
of any man not pledged to oppose the
continuance Of such exemption. Starting
upon the statement that the National debt
is not far from four thousand millions. and
the annual expenses of the Government.
as it Is being now conducted, about FIVE
hundred and ten millions, the Argus socs
on to say:


'The great amount of taxation necossa-
ry to meet the demands OF this enormous
debt should be equally distributed among
all classes; especially should those most
able to pay their share be made to do so.
The unequal manner in which the bur
then has thus far been forced upon the
people, has become an evil which should
be exposed and discussed until provision
is made for its remedy. 1t is well known
that an immense amount of property es-
capes taxation entirely. The United
States securities, absorbinga large amount
of the capital of the country, and afford
ing large increase to the holder by way
of interest, are declared to be free from
tax, and the agents Of the General Gov
crnment decide that the States have no
right to pass laws to compel them to bear
4 single dollar of the public expense. !.
The consequence is, that the men Of small
property, the farmers, mechanics and la
boring men, bear an unequal share Of the
burthen of taxation The immense capt.
tai swallowed up in the national debt is
withdrawn FROM the tax-payirg ability Of
the country, and Of course the burden
thus shirked is added to the sums demand
cd of the holders of other classes Of prop
orty. The farmer, the mechanic, the
manufacturer, and the merchant must
divide among them the share Of taxes
justly falling upon their rich ncighbor,
who, having his money in ready cash, has
put it into bonds drawing high interest in
gold. while he goes free. One pays no
taxes whatever, while the other is not only
obliged to pay what lcgitimately belongs
TO him, but the rich mans share in addi-
ton Is it true that a man who has loaned
to the Government paper money worth
not over fifty cents on the dollar, and re-
received a promise of return Of 4 dollar
in gold Tor every dollar in paper, and scv-
ell and three-tcnths per cent. interest,
also in gold, has made such Il sacrifice as
to enttlc him to forever after receive the
protection of the government without
paying for it? Is it just to those who
happen TO own property that could not be
so readily converted into bonds, that
they should have their burdens thus in
creased for the benefit of the government
creditor? The men who aided the gov
ernmcnt by fighting its battles, and i'm
perillng their lives on the field, do not
receive any such consideration-no such
pension. They come home, and are
obliged to join with the rest Of us in the
ranks of tllc great amy of taxpayers that
is toiling TO raise the 7-30's for the idle
bond-holders who contribute nothing to
the public treasury"


We commend this subject to candid,
fairmin led men Of all parties, and would
ask if there is any reason why the owner
Of Government bond should not pay the
same tax that is imposed upon any other
property Of the same character At all
events, however partlzans and politicians
may treat the question, Equal Taxation
is and must be corner stone in the foun-
lation of the Democratic Temple" =
Franklin On. Y. } Gazette.