State journal & flag., 1846-03-20
From fhe JacksonuiHe Repudlican. KeDUssiatiOnn-TaxaaiOm.

" IcdT tlG OulOuo uoStIihO Oi iCUuulu- lion will soon begin to find supporters and advocates, though as yet few have the conr. age to come out openly and defend it. In fact if the last legislature expressed, truly, ihe wishes and sentiments of the people. we have in effect declared hat ,ce Go not intend to pug he deJts of the State. Now let us look for moment at the facts in the case. The aggregate liabilities of the State are something over $l3,000,000, the annu- al n'e est on which amounts 10 upwards of half million of dollars, in 1850 there will be due an instaIment on Inc six per cent Bonds of Sl,113,000 %, and the balance in few years thereafter. To meet these lia |. biiilics we have the assets of the State Bank and Branches. To form a correct opinion of their value would be somewhat difficult. The best informed on the subject think il will fall under rather than over five r,illions. If this whole amount was now collected and applied in exlnguishment of the Sta,e debts, there would be balance of over eight millions of dollars still due to be raised by taxation. But under the present system of legislative financierng the whole available means of the Banks will be exhausted in q few years in paying merely the interest on the State Bonds, leaving the principal wholly unprovided for. The revenue raised by the present Tax Bill is barely sufficient to meet the ordinary expenditures of the Gov. ernment. Now under this state of facts what provisions have lhe Legislature made to meet the heavy liabilities soon to fall due
 and sustain the credit of the State. They hdue increased He rerenue some S25.O00 or
 S3O,O00 by q most iniquitous syntem of par tial tdration on tan yards, Steamboats S'e. ana on negroes of non resident. To say
 nothing of lhe injustice of this measure up. on portion of our citizens: it is just about as sensible to expect by such means to re- duce the debts of the State as it would be 10 attempt to bail the waters of the ocean with clam she'll When such efforts as those are made, what rediculous farce it is 10 declaim about sustaining the faith and credit of the Sate unsullied and vent loud and eloquent denunciations of repudiation. But even the doctrine of repudiation has been broached in the Legislature. At the last session, the Senator from Chambers openly proclaimed that he would not consent 10 tax his constituents 10 pay back to the townships the sixteenth section fund of which the State of Alabama, was made the Trustee by the United States, for the differ. ent Townships, loi the support of schools, and which fund the State has appropriated to her own use by placing il in the Bank. This position is the entering wedge in repu. diation, because if the State may jusiifiably Jnc. fac o..I ,,htanal o.l;,o,,O <.c the Republic, much more it will be conten- tended may she refuse to pay "Braisher." |" It only remains 10 be seen whether the people of the State will sustain this paltry shufflng of time serving demagogues, or come up like men and pay "lhe sum and tenor of lhe bond" This question must soon be decided. If at the next session of the Legislature the rate of taxation is not greatly increased we shall be placed in situation in which payment of the State debt will be almost an impossibilily. No matter how badly the affairs of ihe Govern
 rncnt or of the banks have been heretofore managed-no matter if the few have plum dered the many, the people must consent 10 an increase of ttaxation-comparat hea. " taxation for several years, or suffer the State of Alabama to be. branded through all coming time as fraudulenl BankrWpt; :; and its citizens not merely as disregarding the claims of honor and the dictates of high toned public faith, but the plainest principle of common Honesty. There is no use in disguisIng this fact. A rate of taxa. ton, higher it is true. than we have heretofore paid, but not as high as have been levi d upon the citizens of other States for years will in short time pay all that we owe. We should also recollect that until quite lately the expenses of the State government were defrayed by this money which we bor> rowed upon the Bonds, and we paid no Siats Tax a, all. What rank should we hold among our sister States. if when their citizens consent 10 be literally taxed to car ry on works of internal improvement to de- velop their resources, ace deny to the claims of jusce, what they yield to the demands of public spirit and State pride. We should recolect that this is not an appeal to our generosity, or magnanimity but merely to ouf honesty and justice. If we falter we shall not have even the pitiful excuse of the