The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1850-12-18

your better wisdom to devise and apply
the remedy, if one exists.
Property is the basis Of taxation, and
the public burthens should be equally dis
tributed in the ratio of its possession.
The farmer with but scanty means; the
mechanic who labors from day to day; the
merchant or manufacturer, though his bu-
siness be ruinous, is taxed from one to t,oo
per cent. on the full value of every thing
he has; but the capitalist places his means
in bank, by the purchase Of stock. and ne
is exempted, under any possible contin-
gency, from the payment Of any other than
a State tax, and that limited to but sir per
cent. on his netl profit.
This feature was introduced with the
system, ] suppose, to invite the investment
OF capital from abroad; and while it has
had such tendencies, 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 avoid
ing their just proportion Of the public bur-
thens.
There is reason Of belief, that any such
system of inequality, is too high price to
be paid for any benefits received. because
it is directly opposed TO the genius and
spirit of democratic institutions; one OF
whose fundamental doctrines Is an equal
distribution Of the burihens Of government.
The feeling is by no means confined to
any political party, exclusively, that the
banking institutions of the State, one and
all, as they are protected by our laws, and
supported by the toll and industry Of our
people, should consent, without contest or
delay, to contribute their just proportion
to the public expenditures; but il they de-
cline acceding to so equitable and reason
able measure, that they should be con.
strained to do so, if the constitutional and
legal means are within the province Of the
General Assembly.
There is, believe. no chartered guar
anty, that the officers of State shall receive
their issues for taxes, tolls, or in payment
of the State lands, and there can be no
room for question but what the prohibition
for such purposes, OF the reception of their
issues by the agent Of the State, until their
assent shall be given to such reasonable
proposition as may be made, is within the
legal as we'll as discretionary limits Of
Legislation.
But aside from this. it is worthy Of the
most serious inquiry, whether the General
Assembly has, at one session, the consti-
tutional power to dispense with, or bar
gain away the right OF taxation to any
part Of the property of the State, so as to
prevent the resumption of the right by the
General Assembly, at any subsequent
session. If the affirmative is maintained,
and part of the property Of the State may
be for ever exempted from the public bur-
thens, there is not, nor can there be, any
we'll defined limit to their power. The
whole taxable property Of the State may
be placed beyond its reach, the State una
BILE to provide for its ordinary expenses Of
government, or to defend itself against a
common enemy.
incline 10 the opinion, that this high
sovereign power to levy taxes, cannot be
disposed OF to any corporation, by one, so
as 10 prevent succeeding General AS
sembly from resuming it; and | could, il
necessary, find distinction between this.
as negative, and those which may be
called the positive franchises Of q corpo.
ration, and necessary TO its existence, and
look upon the exemption from taxation. as
an exception to the general rule, that char.
tered rights cannot be taken away or i'm.
paired, as is claimed, by the advocates oi
such doctrine.
am not unaware, that the case Of the
State v. the Commercial Bank of Cincin.
natl, is opposed to this view of corporate
rights; but that decision was made many
years since, and by divided court, and
one Of the Judges who concurred in that
opinion, has on another occasion, very
Justly remarked. "that laws must be SO
extended or contracted as TO meet the ex.
igencies of society,"" alluding TO the COM
mon law of England. no doubt, which
was only adopted in this State, so far as j,
should be found strictly applicable to our
condition.
The case to which reference has been
made, determined SO many years since,
cannot be considered as of very binding
authority. Since that period. multitudes
of monied and other corporations have
sprung into life, and their conflicting
claims with government and people render
it highly expedient that the rules hitherto
recognised and claimed as placing those
institutions beyond the reach Of either ju-
dicial or legislative correction. should now
be reviewed, modified, and placed on a
foundation more consistent with the spirit
of our laws and the rights Of all.
CONCLUSION NEXT WEEK.
LATE FROM CALIFORNIA.