He tenderly lifted it
again, and, for the first time, her virgin lips knew the kiss of man.
TAXATION NO BURDEN.
According to returns made by the Census Bureau to the Secretary of the
Treasury, the gross value of the productions of the United States for
1860 was $3,900,000,000: namely,--the product of Manufactures, the
Mechanic Arts, Mining, and the Fisheries, $1,900,000,000; the product
of Agriculture, $2,000,000,000.
It is a well-understood principle of political economy, that the
annual product of a country is the source from which internal taxes
are to be derived.
The nation is to be considered a partnership, the several members
engaged in the various departments of business, and producing annually
products of the value of $3,900,000,000, which are distributed among
the partners, affording to each a certain share of profit. The firm is
out of debt, but a sudden emergency compels an investment, in a new
and not immediately profitable branch of business, of $1,500,000,000,
which sum the firm borrows. As the consequence of this liability, the
firm must afterward incur an annual additional expense as follows:
$100,000,000 for the payment of members not engaged in productive
labor, $90,000,000 for interest upon the debt incurred, and $60,000,000
for a sinking-fund which shall pay the debt in less than twenty years.
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