Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1838-12-15

anu WnllSt Inc DankS AZ ColumDus ask q prehii-
um for drafts on Cincinnati or Chilcothe, the
bank of Cincinnati will ask the same premium
in return, thus shaving the circulation at
both ends of the line. 1t is also well known
that the paper of our Northern banks is reject
ed by some of the Southern banks, and is at
this moment at discount of one and half
per cent in Cincinnati. This state of things
should not exist in a state SO Intimately con-
nected in all its interest as is that of Ohio,
and which could certainly be corrected under a
well regulated system of bank credit. i.,
1t is also believed, that in addition to the aid
that would be given to state exchanges, much
might be done by well defined system Of
bank credit, to regulate the exchanges with the
commercial cities; for if our state banks are
censurable for any one act of their policy OYER
all others, it is for their exactions from thefu-
siness men of the state on money loaned, to
be paid in the Eastern cities, and for the high
premium demanded for Eastern drafts. In
my last communication, gave you the amount
of Eastern funds sold, annually, by the brokers
of OHIO, as officially communicated by them
selves, which amounted to $!3,4O2 .875 l8;
that on this sum we paid over and above what
was exac!ed under the bank of the United
States, on an equal amount, $?0l,O43 IL
double this amount, and you will approximate
the sum that has been paid within the present
year, which will be $4Oa,086 %. This sum.
| am confident, will fall short of the true
amount, and is tax upon our people over and
above what was paid when our financial sys-
TEN was under the regulation and control OF
the bank of the United States, and for which
we have no equivalent. .,,.i, r ..-.r- r. i
, These taxes and exactions are now beyond
our reach, but it is the duty of the Legislature
to prepare for the future, and learn wisdom
from the past. This is a subject In which the
people of our State feel deep solicitude, and
look to the Legislature to give them system
of Bank credit that shall secure them from loss
by depreciation on bank notes and heavy exac-
tions for eastern funds;-both are essential to
place our commerciaL agricultural, and me-
chanical interests, on an equal footing with
those of our sister states; all of which is re-
spectfully submitted to the deliberate reflec-
tions of the representatives of the people,
with confident hope that they, in their wis
dom, will not disappoint the just expectations
of our common constituents. -I. -......,..
In my last annual communication | called
the attention of the legislature to the practice
of exactng usurous interest on money loaned,
as a growing evil that ought to be arrested by
penal statute. | again recommend this sub
ject to your consideration, with the hope that
it will receive that favorable attention at your
hands that its Importance SO loudly calls for.
There is nothing within the scope of your
legislative duties that requires more careful
examination, than the defects in our financial
system. The delinquencies in that department
ha NJ 70 mt
with our state history, and the reports OF our
legislative committees. .'..tr...l.....5
A report of the committee Of Finance, in
the Senate, during the last session OF our le-
gislature, shows that the amount of lands now
less than in 1894, and from inferences there |
drawn, the committee go on to prove that snme-
thing near 100000 of acres, liable to taxa
ton within the limits of the state, are not dhar
ged on the tax list, and are at present unayail-
able to the state for purposes of revenue.
From this report, it is evident that theie is
great inequality in the collection of the eve-;
nue., and manifest injustice in the partial nan
ner in which the burthens of taxation fall Upon
the different descriptions of property, which
go to prove most conclusively, that both juItice
and expedency require radical change in
the whole system. 7-s a.f,..5.... 47y-. sg.
The millions of acres of land that have fal-
len from the tax list, may, in part, havebeen
,he result of negligence in the Assessors but
there are other causes, that may, and no doubt,
have operated to produce the result. There
was large amount of lands put upon the tax
ist prior to July 1928, that again reverted to
The United States for non payment, and under
The relief laws granted by Congress, were not
again taxable until after the expiration Of five
years from the second entry. These lands
must all now be liable to taxation, but as the
Register had returned them once to the Audi
or's office, a second return may not have been
considered necessary. soL s.i st-.l.s.t,-s
There is, also, In the Virginia Military dis
rict, large deficiency in the amount of lands
axed, when compared with the quantity con-
aimed within the limits of the grant, and this
will continue to be the case, until the legisla-
ure shall compel the landholders to enter for
axation the real quantity they hold, instead Of
hat called for by the patent under the warrant,
survey and entry. By law of Congress,
passed March cd, 1907, all locations were de-
,lared void that were made on land for which
patents had been previously issued, and sur
,eys made. By this law, the patent and sur
'ey neiu all Ine lailu, WilnouLy IegdIu " the
quantity called for by the warrant. This law
las, by some locaters, been much abused, and
here are well authenticated cases, where the
surplus is larger than the quantity called for by
ho warrant under which il is held. There,
ire cases known in this district, where lands,
,eld under tax titles, have been set off to the
purchasers, equal to the amount called for BY
he patent--and yet there still remains within
he survey, several hundred acres of surplus,
or which no person pays taxes, and which
;annot be located by new warrants; yet is un-
ler the law of Congress above recited, bona
ide the property of the original owner, and
annot be reached by the state authority for
purposes Of revenue. This abuse, under the
ct Of Congress, has not only detrauded the