Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1850-12-19

possession.
The farmer with bot scanty means;
the mechanic who labors from day
to day; the merchant or manufactur-
or, though his business be ruinous, Is
taxed from oae to tlcO per cent. on the
full value Of everything he has; but
the capitalist places his means in
bank, by the purchase Of stock, and
he is exempted, under any possible
contingency, from the payment OF
any other than a state tax, and that
limited to but sir per cent. on his Rett
profit.
This feature was introduced into
the system, suppose, to invite the
investment Of capital from abroadi
and while it has had such tenden-
cies, it has enabled our own citizens
to avail themselves Of it, by the
most profitable employment Of their
money, and, at the same time, BY
avoiding their just proportion Of the
public burthens.
There is reason for the belief, that
any such system Of inequality, is
high price to be paid for any bene-
fits received, because it is directly op-
posed to the genius and spirit ol
democratic institutions, one Of whose
fundamental doctrines is an equal dis,
tri6utioR of the bUrthens Of govern
meRt.
The feeling is by no means con.
fined to any political party, exclu,
sively, that the banking institution:
of the state, one and all, as they are
protected by our laws, and supper
ted by the toll and industry Of ouI
people, should consent, without con
test or delay, 10 contribute their JUS
proportion to the public expenditures
but if they decline acceeding to 81
Equitable and reasonable a measure
that they should be constrained tC
do so, if the constitutional and lega
means are within the province oI th'
General Assembly.
There is, believe, no chartered
guaranty, that the officers Of State
shall receive their issues Tor taxes, ol
tolls, or in payment of the Statr
lands, and there can be no room To-
question but what the prohibition foI
such purposes, Of the reception o
their issues by the agents osthe StatI
until their assent shall be given L
such reasonable proposition as ma!
be made, is within the legal as wei
as discretionary limits Of legislation
but aside from this, it is worthy o
the most serious inquiry, whethe
the General Assembly has, at one ses
sion, the constitutional power TO dis
pense with, or bargain away, III
right Of taxation to any part OF tn
State so as TO prevent the resump
ton of the right by the General As
sembly, at any subsequent session. ]
the affirmative is maintained, and
part of the property ofthe State ma
be forever exempted from the publ
bUrthen, there is not, nor can ther
be,any well-defned limit to this pow
er. The whole taxable property O
the State may be placed beyond it
reach, the State unable TO provid
for its ordinary expenses Of govern
meni, or defend itself against com
mon enemy.
incline to the opinion, That this higI
sovereign power to levy taxes, canno
be disposed of to any corporation
by one, so as TO prevent succeeding
General Assembly from resuming il
and | could, if necessary, find dis
tinc;ion between this, as a negative
and those which may be called III
positive franchise of a corporation
and necessary to its existence, ent
look npon the exemption from taxa
lion as an exception to the genera
rule, that chartered rights cannot b
taken away or impaired, as is claim
ed, by the advocates Of such a doc
irine.
| am not unaware that the case Q
the State v. the Commercial Bank O
Cincinnati is opposed TO this view o
corporate rights; but that decision
was made many years since, and b!
a divided court, and one of the Judge
who concurred in that opinion has
on another occasion, very justly re
marked, "that laws must be so ex
tended or contracted as to meet thu
exigencies Of societv"-alluding tC
the common law OF England, nc
doubt, which was only adopted ir
this State so far as should be Iounc
strictly applicable TO our condition.
The case to which reference hai
been made, determined 80 many
wears since, cannot be considered al
Of very binding authority. Since
that period, multitudes Of moneyec
and other corporations have sprung
into life, and their conflicting claims
with government and people render