Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1854-06-29
WHOLE NUMBER III.
The New oOn.tItu,iOu and the Banks.


The very cunning device of lOcofocoism 10
create one system oftaxatiOn for the Banks and
another for the people, can't be made 10 work.
The New constitution. in the hands ofits friends,
has failed, in this particular. to stand the tes.
Of Judicial examination. In consequence
thereof, Ihe grOans Of the unterrifed are loud
andlOng. The leaders and greasers Of the par.
ty, are alarmed and terror-strickcn, and when
pressed with The facts, cry aloud in their agony
Eve stick TO tie old issues-democrats, 90 the
old issues or we are lost" The statement o
Judge sPalding that il was part and parcel
The designs Of the destructiyes 10 adopt sys-
TEN Of taxation less oppressive to one portion o
our el1lzehs than that sought 10 be imposed up.
on another, is by no means surprising. Incom-
potency and malice AOurished triumphantly in
the formation Of that wonderful instrument cal.
led :he New Constitution.
Let US look at some Of the facts
Under lhe Tax Law passed by the Legisla.
ture in accordance with its construction Of the
New Constitution, the people were allowed to
deduct their debts from their credits, but Ii
Banks were not so allowed.
The Supreme Court of the State isrepresent-
ed 10 have pronounced that section of the Tax
Law allOtting this deduction, unconstitutional
and theTeupon, the Auditor of State proceeded
10 alter the Tax Law, to conform to this decis-
;on:
TIE Legislature being still in session. bowey-
er, an opportunity was offered the majority to
apply the constitutional remedy, and relieve The
people Of the oppressive burdens which are
sOOr, again, to press 50 heavily npcn them.
But the majority steadily and Obstinately refu-
Sed to render any aid. In proof of this, in the
Senate, Mr.. Smilh of Madison submitted the
following amendment to the Tax Law, which
wasiprOmPtly rejected by four to one.
THAT individuals and corporations, banks,
bankers and brokers, may deduct their bona
fde debts, out Of their personal property and
the property Of all kinds and descriptions, of
such individuals, corporations, banks, bankers,
and brokers, after making such deduction, shall
be subject to taxation, as shall be prescribed by
law
Here was fixed determination % destroy the
Banks, though the State itself should suffer
bankruptcy. Has ever folly and villany so
shamefully combined to rob and ruin
The Banks we're more successful in relieving
themselves Of unjust and spiteful taxation
They appealed to the Supreme Court of the
United States for protection. This Court prompt
ly decided, that character was a bona ide con-
tract, and could not be altered or amended By
the will Of one Of the parties alone, and no ad-
ditonal tax could be legally collected unless the
charter granted or yielded the privilege for SO
doing.
So the banks are placed in their former posi-
ton as to taxation, and the people remain in the
hands of the friends THE New Constitution
tazed 10 death.
The money already illegally abstracted from
the vaults of these Institutions, must of course
be refunded. Counties, towns and townships
must suffer the penalties of an additional levy
for this purpOse-and the taxpayer must suffer
wait, and then-vote.
Lest We should be accused of misrepresenta-
ton, we clip the following item in reference to
this matter, from the Seneca Advertiser. edited
by candid, first rate Nebraska Democratic
'THE BANK TAxEs-If the decision of the
Supreme Court at Washington, has been cor
rectly announced, as being in favor of the
banks, there will be, we apprehend, considera-
BILE squirmiDg in those counties, where the banks
have paid their taxes IN full, which was the case
in several instances. The decision being in be-
half of the banks, and in effect that the taxes
paid by them were illegally exacted, they will,
we presume demand that the excess over and
above what their charters require should be
paid, be refunded. This will make an addition
al levy necessary in many counties. towns and
cities, for the above purpose"
Tax payers-what think ye of the prospects?
-Backeys State