Pike County Democrat, Volume 29, Number 21, Petersburg, Pike County, 30 September 1898 — Page 5

ATE DEBT FINANCIERING Democracy Has Saved Hundreds cf Thousands of Dollars to the Taxpayers of Indiana. U But Ballmdt, Kxpr«M CoapMlN mmd Um WmIUj Co* Iktlt 81wn «l Um Utnlaw V«4»r *8# r DMMemit* Tut U*.

rThe financial condition of Indiana prior to 1891 waa a source of alarm to its thoughtful citizen s, a condition resalting from the simple fast that the financial resources of the state were not utilized. Taxation was not only unequal to expenses, bat was grossly inequitable, uut only because assessments were greatly below eash values, but in addition failed utterly to reach millions of property wbiob contributed no revenue at all to the state. To rediedy this aril 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 of the citizens of the state at its “true value"—and the provision of the law to j _ enable the assessor to ascertain the closer est approximation of “true values" and 5 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 j legislature, tire follojriug cfficial figures are submitted, giving tumbles in 1899 and in 1891. and showing that under the operation of the Democratic revenue legislation taxable* increased #434.906,RAO as follows: Increase from 1890 to 1891. #397.581.651; from 1891 to 1899. #12.189,097; from 1892 to 1893. #34.879,186. and from 1895 to 189#, #6.590.706; a total of #46i.296.669. For tire years 1894 and 1895 the taxa- j Ides on the duplicate decreased #16.159,- j 719. leaviug a net 1 nomas© over 1890 of j taxes amonutiug to #434.906,850. The abstract of taxable* for 1897 and j 1993 has not been published, hence any j gaiu or hies that may have accrued is i not included. gfn 1890 the rates of taxation upon the j three principal Herns of revenoe wore as j follows: General fond, 19 neats on the j #1U0: state school. 16; benevolent insd- ! fattens. 6; toftU. 34 These were the | rates for 1891 aud 1892. In 1893 a re-; doction of rate was made, as follows: I General fund, 13; state school. 181$; be-; nrvolent institutions. 5; total. 28 4; total reduction. 51* neat* on the #100. These rates prevailed for the years 1893 and

IHIH. lti 1895 the rates of taxatinu were farther reduced, a* fillow«:_ General f aud, 6 cents on the $130; state school, 11; benevolent institutions. 5; total, 29. Aud these rate* hare preen iled for the yean. 1 m. 1896. 1897 nod 1898. The taxable* for the year 1890 amount- j «d to $837,674,887, from which the reve- i nne on the three items named amo unted to $2,848.0*2. Iu 1891 the tumbles amounted to $1,-1 966,296.038. the rate of taxation betas j the same as in 18*0, bet the revenue derived amounted tp $4,267,670, a gain over 1890 of $1,419,778. In 1892 the taxable# amounted to $1,- | 967.488.069, the rates being the same u j In 1800 and 1801. The amount of revenue derived amounted to $4,809,$89, a gain over 1890 of $1,461,197. In 1893 the taxable# amounted to $1.•02.810.250. In this year the rates of taxation had been rednoed on the three ! Items named to SSI* cents on the $100. a reduction of 91% cents on the $100. The rhvenue derived amounted to $8.711.904. an (txcea* over 1090 of $863,492. | mot withstanding the redaction of th« ' rates. . j In 1894 the taxable# amounted to $V I $96,106,415, the rate being the tame ait in 1803. and the revenue amounted to $3,591,068, exceeding the rwretme of 1890 $718,161. - In 1896 the rate of taxation was still i farther rednoed on the three items upon which calculations are based to $6 cents : on the $100,1 total reduoSion since 1890 of 9 cents on the $(00. The total taxables of 1896 amounted! *0 $1,266,090,581. and the revenue derived amounted to $3,215,126, an Enoses over 1890 of $867,014. The taxables of 1896 amounted to $1, • 993.641,237. ratea of taxation being the same as in 1896 The revenue a mounted to $$.$81,608, an-.increase over 1890 of $ST8.ill. Aa has been staled, there are no offl dial duplicates tat 1897 and 1896,'but it la assumed that the amount of tarallies for these vers tajsqnal to 169$, ben cm: the revenue derived by the state In i897 would show an exosqi over 1896 of $878,- * 611, and for 1898. $878,611. The figure* thus show that the new revenue law passed by the Dasootatbi party has addnd to the revenue of the state as tallows: imi.... isee . .. | lans.. mi,4m sens.... t«mm | tans.. ser.014 ; ism.. ara,*ti, fast .. .« sia.au ! *ssn.. stn.au •Mat aridities *• ******* . SB.9SS.4Tt _ Tbs staking fnad law sasned by a ■

DemochitToTegiMatUfS TevleJ a tax or8 cents on tbe $100 and went into operation in 1898. Assuming that tho tax dnplioate for 1897 and 1898 will be'in amount equal (to the dnplioate of 1696. the revenue derived from the sinking fend tax will be as follows: atms ai.soe.8to.eso •aee.ees wm i.ssa.tenets. 3**,58i tees 1.SSS,030.331 388,315 \0M 1.000.041.439. 907.100 tkmmm‘4 1807. 1,400.041.037. 307,780 Ammm'4 1880 1.084.041.037, 387,794 Total from Sinking Nad.. 80.348.413 Total ioeroaao of Rovoooo .. 0,939,473 OraoS total .80.317.390 In this ia seen sn increase of reveune almost equal to the foreign debt of the state in 1890. In *&0 live foreign debt of the state amounted so $*,546,615.13. It now amounts to $8,316,615.13, showing a redaction of $3,330,000. every dollar of the redaction bearing irrefutable evidence of the wisdom of Democratic financial legislation. Hon. J. O. Henderson, auditor of state, in his report of 1393, 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 aud the soundest tax measure Indiana has ever known. For the first time in the history of the state the hnsthen of taxation is fairly and equitably borne. For the first time in our history tax dodging is j not oolv disreputable, but a losiug busi-i ness, indeed, an impossible business if the taxing authorities possess the abiii-1 ty, courage aud honesty 'to do their whole doty. Under the powerful search light of the new law. property j sequent era tiou is both a dangerous aud i a difficult thing. “Never before in the auuata of the state has corporate wealth been compelled to bear its just share of the public burden: ••Today the dollar of therich man, of t£e bank, of aggregated capital, is compelled to contribute to the public treasury equally with the dollar of the

humble oilman. ,rTtw» new” tax law is founded on the sound doctrine of honest, fall value appniw>mtnt. One dollar i« taxed at 100 cent*. whether it be invoked in lands, products, bank capital, factories or luxuries. .“Under the benign ministration of this masons millions upou million* of property, heretofore sequestered has been placed on the tux duplicate.” And this additional property, as the tax duplicates show. agitr-^ites $434.IKifl,K50. and thus the revenue derived from it amounts tv $5,980,475. It was this measure that at once solved the financial problems .which confronted »he state. It emancipated the state from its tiuaucial trouble ami anxiety and substituted confidence for doubts. It was as Mr. Fairbanks said at Fort Wayne, a “Democratic measure" evincing that the Democratic party had dear 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 hod “vindicated the wisdom of its passage a thousand fold" was vindictively opposed, (tom its incipieucy, by the Republican party and this opposition has been maintained at every step since 1891 to the present time with the partisan seal as blind as bigotry and as relentless as corporation greed. As a or vide nee of the Implacable hostility to Jut and equitable ns*e«**teuts and taxiUou. it is only required to produce the declaration of C. W. Fairbanks. , On June 28, 1692, one year subsequent! to the time when the new Democratic revenue law went into operation, the Republican party held ite stale convention at Fort Wayne, and tile lion. 0. W. Fairbanks, now United States sen-1 tor, presided over its deliberations, aud I upon accepting the honor of the position copier rad upon him. made a speech in , which he referred to the new revenue I law passed by a Democratic legislature, j The present, in the light of all the facts, makes the reproduction of the remarks of Mr. Fairbanks strikingly op- i portuna. because they bring into the! boldest possible promioenoe the welli founded belief that his railroad invest* j meals and his large fees as a railroad attorney prompted his hostility to one of the wisest laws that ever found a place upon the statute hooks of the state In the course of his • remarks. Mr. Fairbanks said: “The people of Indiana expect us to relieve them from the cruel and unjust burden imposed upon them by the Democratic tax law. “tbry well understand that whenever Democraey has been invested with power in the state, the debt has*been increased until the burden has become j unbeatable. “Tucy have no confidence in Democratic financiering, and well founded is distrust. “The creating of a debt in this rich and splendid srate of upward of |9.000.000 is a flagrant abase of power. ••The people will always loyally support the stats aud pay the taxes necessary to defray the expanses of the gov-; eminent honestly and economically incurred. and any party that recklessly increases obligation, should be repali- ! present odious tax law is n i .

Democratic ateuani uttaad to rescue the financial cred it of the state. “The Mate was running in debt at ♦he rate of nearly 1800,000 per annnip. “The eastern holders of the bonds demanded their interest when it waa due. “Current expenses had to be met, and the Democratic legislature passed the present tax law a* the beat expression

ox its unauctat wisaom. “I misinterpret the signs of the times if the people do not repudiate the law and the Democratic party at about one and the same time in November next. “No law ever tested 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 aud improvements, aud householders on their lots and houses beyond all reason and right, all of which you should remember is the enforced tribnte.of the Democratic party. “How long will the patient people en* dure these things? “How long will they elect Democratic members of the legislature who do not powss the discriminating ability to place the ffgaucial affairs of the state on a broad and vgmservatire basis and who will not more1’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 en joy, bat so long as tbs Democratic legislature is in authority they are powerless to <weape. “There is oue way to cure the tax law, and that is to radically revise it “The inequalities can be effectually removed in that way. “And it should be so revised that it will effectually relieve the farmers and householders from the preseut grievous burdens so unjustly imposed. ** Mr. Fairbanks manifestly drew his inspiration from his corporation association and his desire to render them service by dodgiug taxation. Nor was the convention, oyer which be presided, more fortunate in its declaration It sought to secure the friendship of those who for years had sequestered the taxable*, and declared: “We arraign the Democratic party of Indiana for enacting an unequal aud 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 whioh Republican platforms and Republican speakers have won a wide recognition. Nor is the impndence of the party less pronounced, for uow they are claiming to have reduoed the debt of the state, but in so far as it has beeu reduced. Democratic legislation has supplied the means by which the reduction has beea accomplished. This fact is clearly shown in the official figures already produced, but iu 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” upou the people. sought first, to find “the true oash value of property,” aud second, to find millions of property in the'hands of corporations, whioh paid no tax at ail, and pluce it noon rtie tax duplicate. These laudable purposes were attained and uo injustice was done any citizen of the <yata Mir. Fairbanks declared that the people of Iudiaua “have uo ooufideuce in Democratic financiering” aud this, he said, at a time when “Democratic financiering” had added to the tax duplicate, taxable* amounting to fS97.581.361. His inordinate partisauism so distorted his vision aud 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 oue of the most blatant enemies of Indiana, and this, too. not because the tux law worked any injustice to any citizen of ludiuua, 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 f94.832.874, which previously had escaped taxation, aud it is well understood that this act of justioe to the people was the cense of Mr. Fairbanks’ hostility to the "Democratic tax

law. Si no* 1890 the “Democratic tax hw" has discovered and pat a pen the duplicate. bank property to the amount of $1,863,051. It has discovered corporation property amounting to $533,600 and telephone, telegraph sad express property umounting to $5,342,003. a total of $7,020,543. aud if to this sum is added the railroad property that had escaped taxation. $94,832,374, a sum total of $101,863.4!? is placed to the credit of the state and to the wisdom of the Democratic party in shaping financial legislation. Bat now, when Mr. Fairbanks and the Republican party dare not mention the “Democratic tax law** to catch the votes of farmers or practice duplicity noon the rank and die of the people, when under the operation of the “Democratic tax l$w” and the sinking fond law. the debt of the slate 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 stale, when if Fairbanks and the Republican party could have had their way, the financial affairs of *ths state would be la a mare deplorable condition than in 1890. Republicans joyously refer to William leanings Bryan as a “dead politician.** bat they will And him, A. a 1900. the Uveal corpse they ever saw. Mark Sanaa, the boas corruptionist, still maintains his position of bosom Mend end boon oompenion of Major

CLOSING OUT SALE OF

CLOTHING ^FTER thirty-five years in the Clothing Business 1 have decided to close out my entire stock of Clothing, consisting ot Mens’, Boys' and Childrens’ Suits, Overcoats and Pants, in order to enable nae to turn my attention more fully to Dry Goods, Shoes and Furnishing Goods. My stoick*&fresh and comprises all the latest styles and effects, and they must be sold. Profit will be thrown awaylor the reason 1 that prices must sell this V Immense Stock of Clothing I | And money we must have. You can’t afford to miss this sale. It’s a chance of a lifetime. ? This is no fake sale, it is just merely a sacrifice ot an enormous stock of Clothing for the benelit of the people. If you are needing anything in Dry Goods, Boots, Slues, Gomforts Blankets. Underwear or Hosiery, we'sell everything at greatly reduced prices during this sale, for we will make this the Greatest Bargain Sale ever known. All articles guaranteed as advertised or money refunded. Look Here for a Pew of the i Bargains.

Men’s and Boys’ Clothing. 10 Men’s good Suits, closing out price .f 13 Men's black and blue, square or round cut Suits, sixes 34 to 38, closing out price..... 9 Men’s back wool cheviot Suits, sizes 35 to 42, closing out price ........ ?. 22 Men’s all wool Suits, sizes 33, 34, 35. closing out price... 6 Men’s all wool cheviot Suits, square cut, closing out price 10 Men’s all wool black day worsted, closing out price. 39 Men’s all wool fancy plaids, all sizes, closing out price .. Boys’ good Suits, long Pants, 13 to 18, closing out price ... Boys’ all wool Suits, long Pants. 14 to 19, closing out price Boys’ all wool black clay worsted, 18 to 19, closing out price Children’s short Pants, school Suits, 5 to 13,elosing outprice Children’s wool Pants, schc*ol Suits, closing out price .... Children’s all wool Pants, school Suits, all sizes, closing out price ...3. .. 15 Men's odd Pants, all wool, closing out price.4 30 Boys’ odd Pants, all wool, closing out price. 28 Children’s knee Pants, all sizes, closing out price. Men’s good Jeans Pants, lined, closing out price. Men’s heavy Jeans Pants, lined, dosing out price.. Men's wool Jeans Pants, liued, closing out price. Boys’ heavy Jeans long Pants, lined, closing out price. 12 Men’s black Beaver Overcoats, closing out price. 25 Men's black sr blue Beaver Overcoats, dosing out price.. 1 lot fine brown Beaver Overcoats, 38. 34, 85, closing out price .... 25 Children’s Beaver Overcoats, sizes 6 to 15, closing out price 100 Men's Mackintosh with Capes, all sizes, sale p*k». 2 24 3 69 3 89 4 49 4 69 5 49 6 00 2 00 3 99 5 00 49 1 49 1 75 1 00 1 00 49 65 83 99 49 3 69 4 49 4 89 98 1 59 Boots and Shoes. Men’s good Boots, per pair.•.. • . .$ 1 35 Boys’ good Boots, per pair.. ... 125 Ladies’ heavy riveted, lace or button Shoes, per pair. 98 I i

Blankets and Woolen Goods. Good cotton Blankets, per pair...$ 39 Extra cotton Blankets, per pair..... ,v„... 49 Extra red or grey Blankets, per pair.. 9g Wool, grey or red Blankets, per pair.. .... 1 34 Extra heaTy, ail wool Blankets, grey, per pair . 1 89 Comforts, each. ...... 49 Big size Comforts, each_____, .. . 73 Sateen Blaukets, each... 99 Notice the Dry Goods Bargains. Ladies’ full size, all wool flannel Skirts...$ 59 Ladies’ all wool flose. ... 17 All wool Dress Goods, per yard... 25 Fancy plaid Dress Goods, per yard.. 19 Extra wide Canton Flannel, per yard... 5 Extra wide Flannelette, per yard ... 5 Good Calicoes,per yard.. ... ... .. 3 Cotton Batting, per roll.. 4 Yard wide Floor Oil doth, per yard.. 15 Ladies good Capes ...... 95 Ladies’ Fancy Trimmed Capes... 99 Indies' heaTy Capes, trimmed with Buckles, etc..... 1 24 Ladies'Plush Capes.... ... 2 99 Mens’ 50 cent Undershirts .... 23 Men’s 50c Drawers, heary, per pair......... ...... 99 Men’s Fleece lined Drawers, heavy, per pair.. 42 Men's Fleece lined Undershirts, heavy 42

. ■ . Don’t fail to come early to this sale, for the best bargains are picked out Hrst. This is no humbug ; sale for I am actually going to quit the Clothing Business, and consequently will sell Clothing at a price to close out at once. Don't miss this sale. You can buy more with a dollar now than ever before. Remember the place. * * T* MOSES FRANK. I3STIHXA-ItT-A.. ;