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Labor Pays the Taxes.

It is truly said that the people of this country have not yet begun to feel the effects of the taxation that is in store for them. The value of the real and personal estate in the United States in 1860 was $17,000,000,000. This amount embraced the whole Union, north, south, east and west. It must be admitted that the amount at this time is much less. Upon what there is left is to fall the enormous debt of $4,000,000,000. Therefore, so much of the capitol of the country is sunk — is worse than destroyed, because it is a burden, a dead weight upon what there is left for all time to come.

The bonds issued by the United States are to draw interest, but they are exempt from taxation. The effect of this is that the farmer and mechanic must pay, while the capitalist who has ready cash to invest escapes taxation by investing his money in United States bonds.

In this way this immense debt of $4,000,000,000 is withdrawn from the productive capital of the country, and becomes a burden upon the remainder. The question naturally arises, as to how far it is safe to carry such a system, and have we not reached the limit already? The farmer and the mechanic pay the taxes, while the rich man, who has invested his capital in bonds, is exempt, and not obliged to pay a cent. The rich are to grow richer, and the poor poorer, under such a system. The discrimination is against the laboring men of the country. Labor is taxed, while capital becomes privileged and escapes. It is, therefore, for the interest of every farmer, every mechanic, every laboring man of small means, that the debt shall not be increased.

Already the government mortgage upon every farm, and every house and lot, is enormous, and every day's continuance of this reckless administration increases it. So long as the republican party continue in power, we have no reason to expect to see an end to this struggle.

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