Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1852-04-02

dict With the law Of the UuiIed States, which
secures The allowances 70 ths ofieef." Ia fhi,
case NJ. Justice Wayne, delivering the opinion
OF the eoun, sIased on page lig. "in our yieu
q presents case Of a. strong inssffefsnce q,
vas presented by the tsx imposed by MARYLAND
10 the case OF fMcCulIock, 4 Wheat. sic: snd
the lar by the city eounch Of Charleston, n
Wesson's case. : Peters 449; 10 both Of Wh:ch
it was decided by THE court that Ihe Safe gov.
ernmenis cannot lay tar upon the conHitu.
iional means employed BY the government oI
the Union 70 execute lie eonsilutionsI powers. -
lhavecised this case fOi the purpose Of show.
ing that the Supreme Coun regarded as OF
binding snd good authority the decisions be.
Tore made 10 the cases have already cited, ia /.
volVing the same general principles.
will not trouble the Senate with any further
citations on this subiect. Il seems 10 me that
the auI5orities already referred u establish be
yond The least question Of doubt The proposition
that maintain, 70 vii: that ihe Slate has no
power TO impose Iaxes upon any Of the eobst.
iuIiona means employed By the general gov.
ernmeai TO carry out or execuie any Of iis legl-
innate powers. Thsi the power Of Borrowing
money on the credit ofIhe United States is one
OF is constitutional powers. and thar lax lev.
led upon he bonds OF the Uuited States, being
Z means used for carrying into effect Ihe con.
siiiu'ionaI power Of borrowing money. is re.
Pugnanl 10 that power, and therefore unconsli
tuIiona.
But the resolution asks sor a further iussrue.
lion. II asks that the committee report suitable
provisions exemping from taxation all the
bonds or stocks that have been issued by the
STATE ofOho under a pledge Of her faith never
TO impose taxes upon them.
The bill now provides for the imposing OF
taxes indiscrmina,ely upon all the bonds and
stocks issued and sold by the State Of Ohio
Is this right Should 'Ohio now break tha.
pledgei think not. But am told the Con.
sIiIuIion Of Ohio requires il. How is ihisi So
far as the constitution imposes this duIy legiii.
nately, il should be faithfully performed and
carried out. large amount Of the stock of
Ohio was issued aud sold uEder a solemn
pledge, and claim and believe under solemn
contract, that no tax should ever be assessed
upon IT, And no power exists in Ohio, either
IN framing constitution or in the enactment OF
laws, 10 enact any provision that will impair
the obligation OF contracts.
When Ohio was about commening her sys.
TEN Of internal Improvements. il was found ne.
cessary that she soud borrow money-Ihat she
should contract a debt The nci Of 1895 was
passed, and under il large amount OF money
was obtained and il will be found thai Ohio 10
defining The terms and conditions Of the COZ.
tract by which this money was TO be borrowed,
solemnly pledged her faith and credit that no
TAX should ever be levied by the Legislature, or
under the authority Of the State, on the stock
TO be created and issued and sold by virtue Of
mat act. Thar pan OF The aci to which refer
will be found on page TAI Of Swans Statutes,
IN section five, and reads in these words
"And the faith Of the State is hereby pledged
for the payment Of the interest and final re.
demplion Of the principal Of the sums TO be bor-
rowed by virtue Of this acI, and that no tar shall
ever be levied BY the Legislature or under The
authority oi this StaIe, on the stock TO be crea.
ted by virtue Of this act, nor on the interest
which may be payable thereon and further,
that the ualae Of said stock shall be in no wise
impaired by any legislative &C, of this State"
Sir, under this aci-wiIh this plighted faith
Of The SIale, Ohio went inIo the market TO boT-
row the money she desired. She said, 4" See,
here are the terms and conditions on which we
wish 10 obtain this loan. lhave, by the solemn
enaclmens Of The Legislature, pledged my faith
that no TAX should ever be levied upon lhe stock
on which desire to procure this money. Ohio
Is proud OF hOr honor, and will serupulousIy
fulfil and discharge her contracts and engage.
These representations were believed.
Confidence was placed ia them, and The money
was Obtained. With it, some of our great and
magnificent improvements were carried on, and
how much, soever, some may question tho pro-
prety Of the step taken by The State, in 1895,
no one. believe, will contend for moment but
that these Improvements have been of immense
10 Ohio, and aided in her tapid pro
gress. They have opened up the rich resour.
ces OF the State afordng commercial faci.
ties for the exporIaIiOn Of the large amount Of
our surplus products, and Ohio is now the third,
and will soon be The second Stale of The Union.
HJw wonderTul-how unparalleled is her his.
Tory and her progress. But half century old.
A liIIle more than fifty years ago she was ter
riiory, with less than one hundred thousand ia.
habiIanis; aye, but few more than ffIy years
ago, the pioneers.--Ihe fathers of Ohio-wera
travelling slowly down the beautiful Ohio, and
landing where nov stands The thriving and in.
duslrious city Of Marietta, 10 mark the frs. set.
,IemeIt Of Ibis mighty Stale. Then all around
was dark and dreary wilderness, inhabited by
The wild beast and The red man. Then no one
Of these beautiful and majestic steamers that
now daily crowd and float upon The waters Of
Ohio-caTying to market the productions Of
our State were seen to disturb the placid bosom
Of ,ha. bsauiirul river. But how changed
To-day, Ohio has nearly two millions Of free
people. The red man, with whose history is
connected many "reminiscences and sad recol.
lecIiohs, has faded before civilization as meIs
the snow beneath The genial rays of the sun
To-day, where but a few shorl years ago was
the wilderness, you now behold your popular
cities and en.erprsing towns, which seem 10
have sprung up as i by enchantment, To-day
YOU can look abroad over Ohio, and behold q
yeomanry. the strength and buwark Of The