Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1862-01-24

and due wholly, believe, to our own peopl,
about SlS6,000, for which they hold. or car
receive warrants drawn on the War and De
| fensc Fund. If the amount expended by the
State. which is to be reimbursed bv the Gen
eral Government, be $3.50, 900, there is now
due the State 1870 900 AMI if the Federal Ia,
| should be S65O.00 and the State should MS
sumo it, there would be due the General Gov.
ernment the sum of SlS2, 500 being the en-
| tire amount of the tax, less the amount now
due the State, and the fifteen per cent. fop
assumption and collection which must be as
sesscd upon and paid by our people. .. ..
| But we must provide also for the payment
of the amount due our own citizens. This
must be done by assessing the amount as .
tax and by the other actually collecting tht
money and paying it to the holders of tn
warrants, or by authqrising those holdine
warrants TO surrender them to the Auditor
and receive in lieu of them other warrants OF
the amount of five dollars each, which shal
be receivable in payment of the Federal Tax
These warrants being Of small amounts, and
being all receivable during the present yoar
for taxes, would be nearly or quite at par
and would be much more valuable to tn
holders, than the present ones. Should thi,
course be deemed advisable, il will be ncccs.
sary, in order to meet the demand made upon
Us by the Federal Government, to levy a tax
of about 1868, 800, OF which SlS2, 800 must
be collected in money, and S $4,000 may b.
paid in the warrants outstanding against the
War and Defense Funds. Our State deb,
will have been increased by $4,000 and
we will not have any money in our Treas ry
wherewith to meet further military expenses
should they be necessary. twill be observed
that the sums given are gcneralli estimated
Absolute precision could not in some cases be
arrived at, but it will be found the estimate,
approximate veny nearly the truth. If this
should not be deemed advisable, we can pre-
sent our claims against the General Govern.
ment, receive the amount due the State, pav
the outstanding warrants in the hands of ou,
people, and either co lect in money the Fede
raj Tax and pay it to the General Govern
ment, retaining the fifteen per cent. for Sc
doing, or allow the General Government to
collect the whole without Interference on oui
affairs, and the want Of prompttude with
which our taxes are paid, am inclined to "a
vor the plan first recommended. If | I'd
assurance that our taxes would be paid as
they should be, | would much prefer the
second.
Intimately connected with the subject OF
taxation and revenue, is the question as to
the kind of money which shall be received
for taxes. Under our present laws, specie
only is received for public dues. In view OF
the recent suspension Of specie payments by
the General Government and the Banks of
the Eastern States, it becomes q Question of
great Importance whether we cnn collect our
revenue in coin. | do not believe we can,
and urgently recommend u you such change
IN our law as will allow the payment of tax
es with United States Treasury notes and
and the notes Of the State Bank of Iowa -
1t is true the United States Treasury notes
are not payable in specie, but it is the in.
tcreSt OF loyal States, and Of all loyal citizens
to keep them ut par, and the receipt of them
for taxes by the loyal States would tend
much to that end The State Bank Of Iowa
is required by the law creating it, at all times
to redeem its circulation in coin and be-
levc it expects and is fully prepared to meet
that reguisiton. If, as it $ Guns to me we
must and shoudr 'ccivc for revenue the Uni.
ted States Treasury notes not redccmable in
specie, | cannot see the wisdom or Justice of
refusing to receive the notes of our own
Banks, that are so rcdccmable, especially
taxes more easy to our people and more Ger
tan to the State, and at the same time aid
to some extent in Ike ping in circulation
among US currency which has, and in nv
Judgment, deserves the confidence Of the
people.
MILITARY AFFAIRS.
The report Of the Adjutant General here
with submitted, shows the number and de-
scription Of the troops raised in this STATE for
United States service to be Sixteen Regiments
of Infantry, Four Of Cavalry, Three Batteries
of Artillery, aud one Independent Company
Of Cavalry FOR frontier service OF these The
Fifteenth and Sixteenth Regiments of lnfan
try are not fully organized. In addition Col
Koch and Rankin are engaged in raising
Regiments Of Inrafffv, which il completed,
will make the Seventeenth and Eighteenth
Regiments Of that arm Of the service.
II il matter Of much qualification to me
thai our State has thus promptly responded
to the demands made upon it by the United
States for aid in this perilous crisis Of our
country's history, and it is also matter of
great pride to me that the troops of our State.
whether tried in the exhausting service of
the camp, the march, or in the fiery ordeal
of the battle: field, have never been found
wanting, but have by their cheerful endu-
rance OF unaccustomed hardship and their
indomitable valor, won for themselves and
our State name which may Wei, cause us
to feel an honest pride in claiming in any
part of the broad land, that our homes are in
Iowa. .
At the extra session Of 1861 wILs<Was
supposed ample provision was made to furn-,
ish the necessary funds for raising, clatlfig
and equpping the Volunteers ths,iGsTgh Llbgs
required from this State, by 1G1thorizirg the
issue and sale Of our State bonds. Imme-
diately after the close Of that session, the
necessary steps were taken to.p put our bonds
in market, but before they could he offered
in New York, the faith and credit of our
State were mo wantonly and uhiustly at.
tucked by certain papers in that City, so that
when, under the law, the bonds were offered
for sale, it was found entirely impossible to
effect sales at the prices fixed by the Board
of Commissioners appointed for that purpose
or which would have been ruinous to the
State. No sales We're therefore made in New
York, and an appeal was made to our own
people to take the bonds and furnish the
means necessary to meet the large expenses
upon raising the troops called
for from this State. The report of the Loan
Agents herewith submitted will show Won the