Decatur Democrat, Volume 42, Number 29, Decatur, Adams County, 29 September 1898 — Page 6

STATE DEBT FINANCIERING Democracy Has Saved Hundreds of Thousands of Dollars to the Taxpayers of Indiana. Bankers, Corporations, Kailroads, Express Companies and tlie Wealthy Compelled to Bear Their Share of the State's Burdens Under the Democratic Tax Law.

The financial condition of Indiana prior to 1891 was a source of alarm to its thoughtful citizens, a condition resulting from the simple fact that the financial resources of the state were not utilized. Taxation was not only unequal to expenses, but was grossly inequitable. not only because assessments were greatly below cash values, but in addition failed utterly to reach millions of property which contributed no revenue at all to the state. To remedy this evil and thereby secure ample revenue to pay the expenses of the state government, and reduce the foreign indebtedness of the state, was the prime object in view when the Democratic legislature passed the act concerning taxation, approved March 6, 1891. It is not required that the numerous provisions of the law should be either mentioned or discussed in this connection more than to say that the revenue power of the law provided for the finding and the assessment of the property cf the citizens of the state at its "true value” —and the provision of the law to enable the assessor to ascertain the closest approximation of “true values” and the act went into effect “from and after its passage.'” To show the immediate benefits accruing to the state by the enactment of the law by a Democratic legislature, the following official figures are submitted, giving taxables in 1890 and in 1891, and showing that under the operation of the Democratic revenue legislation taxables increased $434,966,850 as follows: Increase from 1890 to 1891, $397,581,651; from 1891 to 1892, $12,182,027; from 1892 to 1893, $34,872,185, and from 1895 to 1896, $6,590,706; a total of $451,226,569. For the years 1894 and 1895 the taxables on the duplicate decreased $16,259,719, leaving a net increase over 1890 of taxes amounting to $434,966,850. The abstract of taxables for 1897 and 1898 has not been published, hence auy gain or loss that may have accrued is not included. In IS9O the rates of taxation upon the three principal items of revenue were as follows: General fund. 12 cents on the $100; state school, 16; benevolent institutions, 6; total, 34. These were the rates for 1891 and 1892. In 1893 a reduction of rate was made, as follows: General fund, 10; state school. 13 1 .,; benevolent institutions, s;tota\ 28 total reduction, 5‘ 2 cents on the $lO9. These rates prevailed for the years 1893 and 1894. In 1895 the rates of taxation were further reduced, as follows: General fund, 9 cents on the $100; state school, 11; benevolent institutions. 5; total, 25. And these rates have prevailed for the years 1895, 1896, 1897 and 1898. The taxables for the year 1890 amounted to $837,674,387. from which the revenue on the three items named amounted to $2,848,092. In 1891 the taxables amounted to sl,255,256,038, the rate of taxation being the same as in 1890, but the revenue derived amounted to $4,267,870, a gain over 1890 of $1,419,778. in 1892 the taxables amounted to sl,267,438.065, the rates being the same as in 1890 and 1891. The amount of revenue derived amounted to $4,309,289, a gain over 1890 of $1,461,197. In 1893 the taxables amounted to sl,302,310,250. In this year the rates of taxation had been reduced on the three items named to 28‘ 2 cents on the SIOO, a reduction of cents on the SIOO. The revenue derived amounted to $3,711,584, an excess over 1890 of $863,492, notwithstanding the reduction of the rates. In 1894 the taxables amounted to sl,295.106,415. the rate being the same as in 1893. and the revenue amounted to $3,591,053, exceeding the revenue of 1890 $742,461. In 1895 the rate of taxation was still further reduced on the three items upon which calculations are based to 25 cents on the SIOO, a total reduction since 1890 of 9 cents on the SIOO. The total taxables of 1895 amounted to $1,286,050,531, and the revenue derived amounted to $3,215,126, an excess over 1890 of $367,014. The taxables of 1896 amounted to sl,292,641,237, rates of taxation being the same as in 1895. The revenue amounted to $3,231,603, an increase over 1890 of $378,511. As has been stated, there are no official duplicates for 1897 and 1898, but it is assumed that the amount of taxables for these years is equal to 1896, hence the revenue derived by the state in 1897 would show an excess over 1896 of $378,511, and for 1898, $378,511. The figures thus show that the new revenue law passed by the Democratic party has added to the revenue of the state as follows: 1891 SI. 419,778 1882 1,461,197 1893 863,492 1894 742,461 189.1 367,014 1896 378,511 1897 378,511 1898 378,511 Total addition to revenue 85,989,475 The jinking fund law passed by a Democratic legislature levied a tax of 3

cents on the SIOO and went into operation in 1893. Assuming that the tax duplicate for 1897 and 1898 will be in amount equal to the duplicate of 1896. the revenue derived from the sinking fund tax will be as follows: 1893 81,302,310,250 8390,093 1834 1,295,106,415 388.531 1895 1,286,050,531 385,815 1896 1,292,641,237 387,792 Assntn'd 1897 1,292,641.237. 387,792 Assum’d 1898 1,292,641,237 387,792 Total from Sinking Fund 82.328.415 Total increase of Revenue 5,989,475 Grand total 88.317,890 In this is seen an increase of revenue almost equal to the foreign debt of the state in 1890. In 1890 the foreign debt of the state amounted to $5,546,615.12. It now amounts to $3,216,615.12, showing a reduction of $3,330,000, every dollar of the reduction bearing irrefutable evidence of the wisdom of Democratic financial legislation. Hon. J. O. Henderson, auditor of state, in his report of 1892, takes occasion, in giving the figures showing the immense benefits accruing to the state as a result of Democratic financial legislation, to say: “The first year’s operation of the new revenue law has vindicated the wisdom of its passage a thousand fold, and the wholesome results attained proclaims it at once the most equitable and the soundest tax measure Indiana has ever known. For the first time in the history of the state the burthen of taxation is fairly and equitably borne. For the first time in our history tax dodging is not only disreputable, but a losing business. Indeed, an impossible business if the taxing authorities possess the ability, courage and honesty to do their whole duty. Under the powerful search light of the new law, property sequesteration is both a dangerous and a difficult thing. “Never before in the anna's of the state has corporate wealth been compelled to bear its just share of the public burden. “Today the dollar of the rich man, of the bank, of aggregated capital, is compelled to contribute to the public treasury equally with the dollar of the humble citizen. “The new tax law is founded on the sound doctrine of honest, full value appraisement. One dollar is taxed at 100 cell’s, whether it be invested in lands, products, bank capital, factories or luxuries. - “Under the benign ministration of this measure millions upon millions of property heretofore sequestered has been placed on the tax duplicate.” And this additional property, as the tax duplicates show, aggregates $434.966,850, and thus the revenue derived from it amounts to $5,989,475. It was this measure that at once solved the financial problems which confronted the state. It emancipated the state from its financial trouble and anxiety and substituted confidence for doubts. It was as Mr. Fairbanks said at Fort Wayne, a “Democratic measure” evincing that the Democratic party had clear conceptions of the supreme needs of the state and the ability to afford the relief required. This eminently wise and judicious revenue law which Auditor Henderson said in his report had “vindicated the wisdom of its passage a thousand fold” was vindictively opposed, from its incipieuey, by the Republican party aud this opposition has been maintained at every step since 1891 tc the present time with the partisan zeal as blind as bigotry and as relentless as corporation greed. As an evidence of the implacable hostility to just and equitable assessments and taxation, it is only required to produce the declaration of C. W. Fairbanks. On June 28, 1892, one year subsequent to the time when the new Democratic revenue law went into operation, the Republican party held its state convention at Fort Wayne, and the Hou. C. ! W. Fairbanks, now United States sen-i tor, presided over its deliberations, and upon accepting the honor of the position conferred upon him, made a speech in which he referred to the new revenue | law passed by a Democratic legislature. The present, in the light of all the ; facts, makes the reproduction of the re- ■ marks of Mr. Fairbanks strikingly op- ; portune, because they bring into the boldest possible prominence the well founded belief that his railroad investments aud his large fees as a railroad attorney prompted his hostility to one of the wisest laws that ever found a place upon the statute books of the state. In the course of his remarks, Mr. Fairbanks said: “The people of Indiana expect us tc relieve mem from the cruel and unjust burden imposed upon them by the Democratic tax law. “They well understand that whenever Democracy has been invested with power in the state, the debt has been increased until the burden has become unbearable. “They have no confidence in Democratic financiering, and well founded is their distrust. “The creating of a debt in this rich and splendid slate of upward of $9,000,000 is a flagrant abuse of power. “The people will always loyally support the state and pay the taxes necessary to defray the expenses of the government honestly and economically incurred, aud auy party that recklessly increases obligation, should be repudiated at the polls. “The present odious tax law is a Democratic measure passed to rescue the financial credit of the state. “The state was running in debt at

the rate of nearly $500,000 per annum. “The eastern holders of the bonds demanded their interest wheu it was due. "Current expenses had to be met, and the Democratic legislature passed the present tax law as the best expression of its financial wisdom. “I misinterpret the signs of the times if the people do not repudiate the law and the Democratic party at about one aud the same time in November next. “No law ever rested more unequally upon those who should bear the burden, than does this. “The people already heavy laden with unjust taxes are compelled to submit to additional exactions. “Farmers have been compelled to pay on their farms and improvements, and householders on their lots and houses beyond all reason and right, all of which you should remember is the enforced tribute of the Democratic party. “How long will the patient people endure these things? “How long will they elect Democratic members of the legislature who do not possess the discriminating ability to place the financial affairs of the state on a broad and conservative basis and who will not more carefully legislate in the interest of the people? Too much money is wasted in profligate and expensive administration of this state. “The people are paying too dearly for the privileges they enjoy, but so long as the Democratic legislature is in authority they are powerless to escape. “There is one way to cure the tax law, and that is to radically revise it. “The inequalities can be effectually removed in that way, “Aud it should be so revised that it will effectually relieve the farmers and householders from the present grievous burdens so unjustly imposed.” Mr. Fairbanks manifestly drew his inspiration from his corporation association and his desire to render them service by dodging taxation. Nor was the convention, over which he presided, more fortunate in its declaration It sought to secure the friendship of those who for years had sequestered the taxables, ami declared: “We arraign the Democratic party of Indiana for enacting an unequal and unjust tax law.” The declaration of the Fort Wayne convention and the speech of Mr. Fairbanks constitute a remarkable blending of stupidity and cupidity, for which Republican platforms and Republican speakers have won a wide recognition. Nor is the impudence of the party less pronounced, for now they are claiming to have reduced the debt of the state, but in so far as it has been reduced, Democratic legislation has supplied the means by which the reduction has been accomplished. This fact is clearly shown in the official figures already produced, but in view of some of the declarations of Mr. Fairbanks, it seems expedient to add a few more official figures to still further demonstrate the wisdom of the "Democratic tax law.” This Democratic tax law, which Mr. Fairbanks denounced in his Fort Wayne speech, and which he declared had imposed “unjust burdens” upon the people, sought first, to find “the true cash value of property,” and second, to find millions of prooerty in the hands of corporations, which paid no tax at all, and place it upon the tax duplicate. These laudable purposes were attained and no injustice was done any citizen of the state. Mr. Fairbanks declared that the people of Indiana “have no confidence in Democratic financiering” and this, he said, at a time when “Democratic financiering” had added to the tax duplicate, taxables amounting to $397,581,551. His inordinate partisanism so distorted his vision and perverted his judgment, so incapacitated him for stating facts regarding a measure relating to the welfare of the state, that to gratify his implacable hostility to the Democratic party, he became one cf the most blatant enemies of Indiana, and this, too, not because the tax law worked any injustice to any citizen of Indiana, but because the Democratic tax la w, by inaugurating rigbteous proceedings, unearthed millions of property, the owners of which were sequestering. This tax appears from the record. The tax law placed upon the duplicate at once railroad property of the state, amounting to $94,832,874, which previously had escaped taxation, and it is well understood that this act of justice to the people was the cause of Mr. Fairbanks’ hostility to the “Democratic tax law.” Since 1890 the “Democratic tax law” has discovered and put upon the duplicate, bank property to the amount of $1,263,651. It has discovered corporation property amounting to $523,800 and telephone, telegraph and express property amounting to $5,242,092, a total of $7,029,543, and if to this sum is added the railroad property that had escaped taxation, $94,832,874, a sum total of $101,862,417 is placed to the credit of the state and to the wisdom of the Democratic party in shaping financial legislation. But now, when Mr. Fairbanks and the Republican party dare not mention the "Democratic tax law” to catch the votes of farmers or practice duplicity upon the rank and file of the people, when under the operation of the “Democratic tax law” aud the sinking fund law, the debt of the state is disappearing. Fairbanks and the Republican party, with impudence as thick as the armorplate of a battleship, are claiming that the Republican party is reducing the debt of the state, when if Fairbanks and the Republican party could have had their way, the financial affairs ot the state would be in a more deplorable condition than in 1890. Republicans joyously refer to William Jennings Bryan as a “dead politician.” but they will find him, A. D. 1900, the livest corpse they ever saw. Mark Hanna, the boss corruptionist, still maintains his position of bosom friend and boon companion of Major McKinley. French shipping is slowly but steadily declining. In 1860 there were 500 candidates for examination for masters’ mates and in 1890 only 125.

How Women * May Keep Young The real secret of youthful features in women is regular menstruation. If there is an irregularity of any nature—ifthe menses be suppressed or too scanty, too profuse or painful —the trouble will show in the face. The eyes will be encircled with black, the skin sallow; blotches and pimples will appear, and the sufferer, although young in years, will appear old in looks. The unfailing remedy is Bradfield's Female Regulator It cures all ills of the womanly organs, Falling of the Womb, Leucorrhoea or Whites and Bearing-down Pains. Cures Backache, Headache and Nervousness, all of which are due to weakness in the same organs. Large bottles are sold by Druggists for SI. BRADFIELD REGULATOR CO., Atlanta, Oa. Couldn't Identify Him. Kokomo, Ind , Sept. 26. — Bert Lewis of the United States artillery, who was arrested aud taken to Frankfort on the charge ot burglary, was not identified as the burglar and his release followed. The goods found in Lewis’s possession were taken for a debt from a show company, Lewis says. He is an aeronaut aud is to make an asceutton at the Crawfordsville fair next week. Speech Returned to Hirn. North Webster, Ind., Sept. 27. —Daniel Searfoss, driver of the town watering cart here, six months ago was stricken suddenly dumb. He remained in this condition until a day or two ago, when the power of speech returned as suddenly aud us mysteriously as it left him. Hied From Effects ot His Wounds. Seymour, Ind., Sept. 27. — Henry Fisher, who shot himself iu the left breast Sunday night, died yesterday. He was 23 years old, and had been in good health, except a slight attack of chills and fever during the past few days. His mother is unable to assign a cause for the rash act. Visiting His Old Home. North Vernon, Ind., Sept. 26. —Sardis Summerfield of Reno, Nev., who left this city a poor boy 18 hears ago to seek his fortune in the west, is now enjoying his first visit home since leaving here in 1880. Mr. Summerfield is now United States district attorney for that state. State Notes, W. A. Limeback of Hammond, Ind, was damaged $6,000 by the burning of his general store. The mayor of Fort Wayne has served notice that no more prizefights will be tolorutel in that city. Nella M. Whitehead of Elkhart county, Ind., is suing John L. Belt for claiming breach of promise. Burglars entered the ;ooin of the Carthage (Inu.) bank, but were frightened away before they could lorce the safe. S. Ross Martin, ex-city clerk of Valparaiso, Im'., and lormerly deputy postmaster, s dead of congestion ot the bowels. Lightning caused severe loss to W. F. Hadley, near Mooresvi.ie, Ind., by burning a barn and contents, including a horse. Fred Williams, colored, of Kentucky, fatally hurt at Winchester, Ind., had S4J cash and an accident Insurance policy for SI,OOO. James Hamilton (Meredith, one of .the best known residents of Washington, Ind., died very suddenly. He was born in ls_'4. Gas City, Ind., expended $40,001 in new water works, and then had a $5,000 tire because no one had been instructed in an intelligent use of the same.

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