Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1856-02-14

other property, cliects, CT ducs OF every de-
scriptlDh lvuloW deiuctioa) Of all banks
now existing, or hereafter created, and ol
al sOanksfs, =, that all property employed
in banking shalt always bear b1rd,h o!
taxation equlI to ths. imposed OF the PRO
par'y Of .udy duas." Here, instead Of U.s.
ing The term credits, uis evidences o' debts
are uurnsra''d 'pecideally, and the tern
"dne-,' a., syn,nymous ones is empl,v.
ed, ord then, as if fully aware 'thn; with.
oit restriction de luCJOHs could b. mnde
l'om some Or aH OF hem, il was. deemed
necessary ioag5d an express. prohibition Of
such dedrcgpn, and !, i pertinent 20 IN
gUjre why, IL the sam result vas intended
N forming section 2, the same prohibition
wns not inserted! II il IS objected That
this destroys Lhe cqHality Of taxl,ion seem,
ingly REQUIRED ~ the fsst ctsuse u aecuyN
B j, may be- rcfiied that the history Of tAe
Constitution, 10 which we may properly re-.
fr1 in case Of doubt Or amhguitvA. shows
that it w6s there held and coGtendcd that
taxing banks ,rihoui deductions, wa. p'ac-
ng them upon an exact eddaIty with in-
d!rdGaisi when thy made deductions o
their debts; and If any defects snail b.,
found in the mode o.! taxation prescribed
by the 3D. section, 10 attain this equality,
no unjust rule Of Interpretation can justify
the ccns;ruDg Of The I'd section in any
way !ure,gn to It's primarr intention, to
Cttaln that object, for that IS the STANDARD
10 which the other is required to couiorn.
One o;her reason derived from the obyiou,
reading Of section 9, is worthy o. consid-
erntion in determining this question
The pecuiiar construction OF the sect IN,
will if examined, lead, | apprehcnt, to tie
same conclusion as above indicated.
Its language i: "Tnat Laws shill b.
passed taxing, by uA iform ru'e, all moneys,
credits, &c, AND ALSO all real and person.
al property, according to IT'S tru3 va.ue in
money"
Inc word lis, cannot be male to relate
to the terms "moniys, or dts" &c, with
cat doing violence te the construction OF
Language, which SO able and learned body
siitution, could hardly have been guilty OF
committing. Besides to provide that moa-
egS shall be taxed at their ''true value in
money! is simply absurd to its face. The
rue reading, then is, that laws snail be
passef taxing moneys, credits" &c, by a
uni orm rale, ahd real and pers)nul (tanGi-
bie) property at its true value in m tney.--
In the on. cas-, and discretion being left
t. TIE laN-mlking power 10 fix the uniform
ruIe"--in the other, requiring that no varia-
tion snail be made from ubsolute values -
Wn'le | am well aware that mere grarnma.
teal construction cannot control or vary
:he otherwise Obvious meaning, yet in this
case, it seem, to me-. the plain maaninr is
rs hava Indicated, and it SO, The rGis
adopted, may allow deductions OF debts; and
t.kinr into consideration the law as ltthcn
existed, the evident intention Of the iram,
e's OF the Constitution t. abby sI,h de-
dlclion5 as gathered ftom their published
p.l,f fejlnE', tac conclusion is irresistible
Lnat the section was thus peculiarly word ID
in orI'r t. allow the Legislature this very
discretionary payer; ami submit to any
one, il any such Violence is done to tn
meaning OF tngurgn, by holding that the
phrose ''ail credits = means the amount a.
luJiy, and not merev H0mU1I!'l, due the
persons assessed, as is done by huldlas the
clnse referred - re4aitin5 r'a. and per.
sonli property to be assessed at its true
vaiue, applies ais1 to moneys, credits, in
veslments in bands, Sc, making it read
tllL 'a, moneys, credits, &c, shall be
sved at iE true value in money"
Respectfully submtted,
+. D. KGMBALL, Attorney General.