Year: 1868

| The IateitigeRcer has found maret


nest. Rather Governor" STEvENsO,


hit upon one in his Hessville speech


and the Intelligencer attempts to raise
clam0r over the discovery. These Rad


ical representatives claim that "th'


fourth plank Of the Copperhead plat


form" means that the Government must


lay direct tax upon every species o.


property in order to make the bond:
contribute to the public expenses.


The fourth article of the Democratic
platform demands "the equal taxation
of every species of property according
to its value, including Government
bonds and other securities"


Says the Htelligencer, "ifGoverDment
bonds and other public securities are to
DO taxed at their real value, so must
real estate and personal property of all
kinds" The converse is also true. II
real estate and personal property are to
be taxed at their real value, SO must
Government bonds and other public Sc
curities. 1t happens, also, that real es-
tate and personal property are already
taxed. 1t follows, we think, that
the bonds ought to be taxed. 1t
does not follow that in order to tax the
bonds, the Federal Government must
also tax directly the property of the
masses. The simple reason is that the
bonds are exempt from State and mu-
nicipal taxes, which other kinds OF
property pay. For such purposes the
bonds cannot be taxed. If they could,
there would be no need to ask the Gov
ernment to interfere. But rs they can
not, their taxation by the Government
does not oblige the same power to tax
property which the State and munich
pal authorities can tax.


The Democrats merely ask that the
bonds shall bear their share of the pub
lie burdens. As they cannot be reached
as other property, it is proposed to reach
for them through an agency WHICH can
make them tributary to the Treasury.
AS they pay nothing towards State ex-
penses, let them make up for this ex-
emption by contributing to the support
of the General Government. What they
pay to it will be saved to the masses
whose property pays tribute to the
States. An unjust discrimination will
no longer exist. Taxation will be equal,
for every species Of property will be
taxed.


The talk about the repeal Of the
tariff and the special taxes upon whis-
Ky, tobacco, &C., which the Mtelligencer
thinks would follow the taxation of the
bonds, is so much stuff thrown in for
muddlng purposes. The Democratic
platform favors not only ga tariff for
revenue" but "taxation under the
revenue laws" which of course refers
to those special taxes which the IntelH-
gencHr fears will be abolished. The
talk about the rate per cent. ut which
those bonds are to be taxed, whether at
one hundred and fifty per cent,
as whisky is taxed, or one hun
drcd and twenty per cent,
as tobacco, is too tippant to be dignifed
as argument. Speaking for the pro-
ducing classes, we would say that one
thousand dollars worth of bonds ought
to pay asi much tax as one thousand
dollars worth of LAND, be that large or
little. They ought to pay that tax to
the Federal Government, because they
are not taxable by the State. When they
do pay taxes to the general Government
Just as farmers pay taxes to local
Governments, taxation will be equal.
But if the Republican idea prevail,
that they shall not be taxed at all, tax
ton willlbe unequal ,and other species Of
property will bear the s hare of the pub
lie burdens that Of right should rest mp
on Federal securities.