M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1856-01-24

reduced BY The introduction OF rigid
economy into every branch Of the pub
lie services; and the greatest care
should be taben 10 apportioR its bur.
dens equally upon all non-exempt pro
perty OF every description, by whoms9
ever held. No layor and no dlslavor
should be shown towards one dlcscriP-
tion Of property or classof owners raih,
er than towards another. f
Under instructions iss ued by the
late Auditor OF State, the statutory
right Of each citizen to deduct his
debts from bis credits, 10 listing his
property for taxation, has been denied
In issuing these instruction, the late
Auditor was governed, doubtless, By
expect lor dicision OF majority OF
the Judges OF supreme Court by which
the section of the act which allows this
deduction was declared to be unconsti,
tulionaI. Notwithstanding that decisi
ion how ever, the Legislature has not
thought fit to repeal the law and it may
Q doubted whether the court, upon re-
co Dsideration, will adhere to the opini
ION heretofore expressed. Should the
present Auditor, under these circum,
stances, think it is his duty to conform
MS Instructions to the statute, which
remains ulrepealed, rather than to the
opinion OF the majority OF the court,
the right denied by his preduccssOfs,
will be restored.
A sound and sufficient currency is
indispensable to to ihe welfare oil eve,
ry civilized community. The best
practicable currency in my Judgement
would be currency OF coin, admitting
the nse oil large notes only, for the con-
venience OF commerce. Such cur
rency however is only attained through
the legislation OF Congress, and the
action Of the General Government
Connected as we are on all sides witt
States in which bsnds Of circulation
are erlablished, our actual currency, il
the abscnse OF adequate banking cap.
ltal within Our limits, must nessarily
be supplied, in great measure, by instr
tutionS beJ ond our control and eXempl
form our taxation, All attempts to
exclude, by penal legislation, the bank
notes ol other States IRON circulation
In this, hayed prove Intellectual; anC
the public sentimen. demands an in
crease OF banking capital, organized
under our own laws contributing il
just measure 10 our own revenues, anC
sufficient TO furnish the necessary fac.
Illtles Tor the transaction oil business
TIE Constitution oil the State indicates
lie mode In which this demand may
be satisfied. ltproyides for authorize
ing associations with banking power;
by act Of the general Assembly to be
submitted TO the people and the nexI
general election and not otake effect,
ualess then approved by majority oI
all the voters. In framing such an
act should you deem it eXpedient to
exercise the power thus vested in you,
the utmost care should be used to secure
the prompt and certain conve:libillily
OF every note issued into gold or silver
coin upon demand oil the holder;to pro
lect the community against all abuse
OF granted powers;and to gaurd against
the evils oil monopoly by extending the
the benefits oil act 10 all who will give
the ample securities and guarantees
which J ou will doubtless, required. Nc
general objection exists to mixed cur.
rency OF coin and notes exchangable
ior com at the will OF the holderwlthout
loss; while all mere paper money sys-
TENS, pregnant with fraud and fruitful
OF rum, justly incur universal reproba.
ton.
For several years past the law has
allowed contracts tor interest at the
rate OF ten per centum. There seems
10 be no valid reason why the capital.
Ist should be encouraged to demand so
large a poportion oil the earnings oil
the producer and the profits OF the man.
uiacturer and the merchant. | there's
lore respectfully suggest a material re-
duction OF the maximln rate allowed.
need not commend TO your judi.
clous consideration the Educational
and Benevolent Institutions oil thestaies
Universal Educations is ouTcheap est
tense ans surest safeguard and most en-.
during wealth, Our Common Schools
WHICH secure 10 the people this great
benefit are firmly established in their
Affections, and will justly claim the fos.
terlng care oil their representatives IS
Our benevolent institutions are no.
ole complement. to our educational sys.
TEN. Their existence bonors the
State, and every patriotic citizen must
Ieel deep interest In theis improve
ment, The duty OF the Stale will no.
be fully performed until the beniliis
OF these institution shall b5 extended
10 all without distinction who need
their care.
The organization and disiplius Of the
Militia will require your eafly cousid.
erdtiOn, The laws on this subject need
thorogh revision to sdapis them to the
requirement of the Constitution, Ad
rquaIe provision should be made for the
enrolment of all citizens liable to