The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1854-06-07
Rank Taxes.

Our exchanges bring the news that the,
Supreme Court Of the United States has
decided that the Constitution Of Ohio. tax
ing the Banks of this State in manner
different from that provided in their char
ters, is unconstitutional. Can this really
be so? If true, in what position are the
taxpayers of Ohio placed!
In the first place our own Supreme Court
has decided that the private citizen can
not deduct what he owes from his moneys
and credits, under the new Constitution
This decision was made, without doubt, TO
place banks and private citizens on an
equal footing. Then in steps the Supreme
Court Of the United States and decides
that the banks shall only pay certain per
cent. on their profits. Verify between the
New Constitution and the decision OF the
Supreme Court of Ohio under it, and tht
decision Of the Supreme Court Of the Uni
ted States, the taxpayers have fallen upol.
evil times. To illustrate: An Ohio bank
with capital Of 100000 declares divi
dend say Of 10 per cent. Its taxes then
would amount TO abou, $500 after deduct.
ing expenses. Now take number Of our
own citizens, who have moneys and cred
its also amounting to 100000. and who
in reality owe $50 600, but under the new
Constitution Of Ohio, they cannot deduct
that indebtedness from their. moneys and
credits, and consequently have to pay on
the full amount. which at say l2aa mills on
the dollar "a fair average perhaps would
amount to $3.50 or $3.50 more than the
banks pay. But il allowed TO deduct their
Indebtedness they would still pay $625.
Some remedy is needed for these out
RACES on the taxpayers. Some suggest
that the Constitution must be amended.
That is slow and uncertain reliance.
Others suggest that all laws furnishing the
counterfeiting Of bank paper be repeal-
ed. and also all laws enforcing the collec-
ton Of bank debts And sill others sug-
gestthat by concerted effort Throughout, the
State, the Treasurers Of counties. and
other officers, return the money Of the
banks for redemption in SUCH quantities
tha, they win be glad to cry ''quiis" and
pay their equal and just proportion Of the
taxes OF the State. One thing is certain.
we are for war on the banks until they
agree to pay proportion Of taxes equal
to that paid by the private citizen. In
what way that war ought TO be waged is
still question: On this subject the States
man and Democrat says: S.
aA dispatch received last evening from
Mr.. Henry Stanbery, at Washington, ar :
nouncing that the United States Supreme
Court have decided the Bank tax cases
against the State, thus in effect declaring
| the Consultation Of Ohio Unconstitutional.
II this pronunciamento of the Federal
Court does not obliterate the last vestige
OF state sovereignty, and entirely outlaw
the State OF Ohio, would il not be we'll for
the Governor to convene the General As
sembly in extra session. in order that such
remedial legislation may be had as the
exigency Of the case requires.
| For example: the people Of Ohio are
taxed to support courts Of JUSTICE for try
inp men who counterfeit the notes OF these
banks. This 10 useless expenditure;
and the public interests demand thai tie
] law Furnishing counterfsiting the notes q
|the delinqueu. Banks be1repesled. Ths