Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1862-01-14


temporary detriment TO the people of the
State, be withheld from the several special
purposes, and made applicable TO the gene
raj treasury; thus constituting a principal
means Of providing for the wants Of the Gen
eral Government without any increase OF
the present gross amount of burthens up
OF the public. In this crisis Of our beloved
countrys great tribulation and needs, il be-
hooves our public authorities, as well as pri-
Vate individuals, 10 foregO many of the COM
forts and Injuries OF times Of peace and pros
perity, and exercise rigid economy and
prudent self-denial.
l have, therefore, to recommend 70 your
earnest consideration the adoption OF suit
able means to effect this purpose.
The system Of taxation now In force, if
faithfully executed, is, perhaps, In the main,
as perfect and equitable as car we'll be de-
vised. The object OF the law Is to bring up
on the duplicate all the property in the State
at It's true value In money. So far as pro-
perty, Visibls to the several assessors is con-
oerned, this object is, generally, well q T.
tained; but there Is reason TO fear that iRVisi-
bic property, particularly moneys and credits
to q large amount, escape taxation. there
fore recommend that more severe penalties,
certain of enforcement, be provided for fall
ures to give into the assessors this species
Of property. The citizen who Willfully at
temPfs to evade his just proportion of taxa
ton Cor the support Of the government that
protects his person and his property, should
be deemed a criminal, and punished as such.
The mode Of listing railroads for taxation
also requires attention. Great inequality
must necessarily exist under the present sys-
TEN. To secure uniformity, equality, and
/ full valuation in the assessment Of this large
| integest, l would recommend the creation of
e Board of Assessors for that special purpose;
but, to avoid the creation of new officers,
and consequent expense to the State, re-
l commend that this Board consist Of the sew
eral County Auditors Of the counties through
which the road passes. This Board thus
constituted, should be required to meet at
the principal Office of the company. and
there, after inspection of the books of the
company, assess the total value of its pro-
perty, and distribute the same to the several
districts. From this assessment an appeal
should be allowed to the Auditor of State, or
other suitable State Board, by every compa-
ny feeling itself aggrieved; and such Board
might also supervise the assessments of the
various Boards of County Auditors for the
purpose of equalization. By this means de-
fects now existing may be remedied with
trifling expense to the State; and 1t is cenf-
IDENTIFY expected that a large additional
amount will thereby be added to the dupli-
cate.
Il Is hoped that ell new causes Of expen-
diturs may be avoided and that every ef.
fort to promote economy will be made.
an, however, constrained, from q sense Of
strict duty, to recommend the continuance Of
the recent Law, authorizing County Commits
sioners TO assess a tax for the support Of
the families Of our troops during the war
The provisions Of this law were wise and
bene6cient, and have prevented much dis.
tress and suffering.
The charters Of the several banks Of the
State created by the Act Of February "a
1916 will expire on the 1st Of May 1866
In view Of the very extensive interests in.
involved in any sudden change Of the
monetary system Of our State, it would be
wise that the future policy Of the State on
the subject Of banking be early made
known; under ordinary circumstances
therefore, would invite your attention tC
this subject, at this time. You are, hoWeV
er, aware that the Secretary Of the United
States Treasury has recommended q meas
ure which, if sdoptsd, will have q most i'm,
portsnt bearing upon the subject; hence
; deem 1t advisable, for the present at least
10 abstain from interfering with the matter
} Should Congress dispose Of the subject ct al
early day, may deem 1t my duty to sent
you o special communication during YOU
present session.
It may be advisable ct this time, hoEeV.
er, to consider the propFiety Of promptly
relieving the banks from their disability
! of paying out the paper Of institution
that do not redeem their issues, on de-
: msnd, in specie. 1t is known that the de-
+ msnd noteg of the General Government
as also the notes Of nearly ell the banking
I institutions Of our sister States. are no
now redeemed in coin on demand; hence
G our banks are unable TO receive, in pay
ment Of debts due them, or on deposit, any
2 Of this vest description Of currency; for
not being permitted to pay it out, Of course
r they cannot receive itsafely. This condition
Of things must necessarily affect the eredi
, and circulation Of the issues of the Fede
raj Treasury, and greatly cripple il il
, obtaining means to prosecute the war
= Great ss the evil, Of tolersting by law :
: suspension Of specie payments, to any ex
t tent, is known to be, 1t is better to endure
r 1t, than to embarrsss the Federal Govern
! ment in obtaining means to vigorously
3 crush out the rebellion. I have, there,
: fore, to recommend that you at once su
/ thOrize the several banking institutioni
3 Of the State to offer in payment Of their
issues, when presented for payment, thu
notes of the Federal Government, payable
on demand.
The broker or ShylOck, who may wish t.
+ hoard his money in times like the present
I should not complain II he is offered the
: notes Of the Government from which ht
, demands protection for his person and
property.
It Is, l believe, conceded by all, that the
: banking institutions Of our State, now 10 ex.
istence, have been managed with skill and
integrity, and with degree of liberality tc
our Government highly commendable: Il
would, Therefore, be ungenerous to preeume
that their managers will attempt to make
improper use of the relief now recommend.
ed; but be the risk Of this great or little. We
must risk everything necessary to put down
the unhOly rebellion.
The banks aVailing themselves of the pro.
visions Of the law recommended. should he
required TO furnish the State, in proportion
; to their capital respectively, with par funds
necessary to meet the interest on our bonded
. debt.
: Long years Of quiet prosperity, and seem.
: ing freedom from danger, have led rs practi-
, callY to disregard the safe maxim, HIn peace
prepare for war"
J Let the experience Of the past year induce
us to be ready, ct all times, to 'nip IN the
bud' any rebellion within, and promptly re-
/ pei any invasion from abroad. Such prepsr-
/. stion will be an ever present guaranty against
/ temptation to commit any breach of the pub
: lie peace. A thorough organization Of the