The New York herald., 1862-01-29

payment for al debts public and private and by adj
qlate taNaton, 70 be imposed by bills. This Wi
unns .o ,u exercise al the higher powers Of govern
Congress the power, (Art. 4, sec. S.
lay and collect taxes duti imposis and exeses to
snd provide for the common defenees and gener.
TO 10 , ooIow money on the credit Of the United States
To raise and support armies
TO provide and maintain navy.
10 make all laws which shall be necessary and proper fo
powers BY the constitute in The Of
United States, or In any department officer thereof
These are among the high powers OF government
winch must now be brought into full, ample play The
table which have before me- procured from tn,
Census Bureau shows that the value Of the property
real and personal within the United States sixteen bill
mons, one hundred and fifty nine Millions six hundred
and sixteen thousand and sixty eight dollars ($l6 1885,
6l60oS) and the assessed value to be $l2 5s6
(ses Appendix, tables and b. The power In the
constitution TO clay and collect taxes, duties
imposs and excses is general and unlimit
ca. congress has the power to levy and collect
amount of taxes that may necessary
It's existence and pay all its debts Government has
claim-a mortgage, in fact-on all this property to that
extent VIII Congress do its duty by passing bills to col
lect these taxes This is the vital question. Will Con
gress have tho hrmness and the courage TO impose
the necessary taxation the credit Of the 60
vernment? Direct taxation excuses and internal duties
are new features within the United States They will
be heavy on the people, but essential TO sustain
the circulation OF demand Treasury notes. The tax
gathercr will be an unwelcome vsiter TO most people,
but his face must soon be familiar Some members Of
hesitate 10 vote tearing
that they may not be in favor with their constituency at
home. Under these circumstances, will members OF
Congrcss meet the question boldly and frmyY Here is
the whole property OF the country at the will OF Congress
You have the power TO tax TO unlimited extent If
necessary TO sustain the government This is the capi
tai $l6 900 900 in amount on which your Treasury
notes and bonds This claim gov ernment in the
hands VI Congress, Is direct and specific the banks
throughout the United States including the gold and
silver Ia their vaults; on commerce.; on all kinds Of pro-
duction and business railroads. and their
passengers; on gas companies; on manufacturing
COMPANIES Of all kinds in short, all real and
TO the payment Of the Treasury notes and bonds
issued by the government Congress is clothed with this
mighty power 70 sustain the nation at this time. Will
you hesitate 10 do duty? This what the people,
capitalist the merchant and all who conde in your
mand notes want 10 know II they take these notes,
they want TO know positively whether you will enforce
the claim Of the government upon the property OF the
country TO the full extent necessary to redeem the
bonds which they take Of you to sustain the government
Unless yon are prepared to satisfy the country this
point, it s in vain to issue bonds notes, and expect
them TO pass currently among the people Unless this is
done they will deprecate and they ought to deprecate
but with ample taxation, cheerfuy voted by Congress-
they will be the very best security in the country be-
cause the whole property of the country is held for their
redemption. Congress has plain duty to perform; it
has ample power This power should be enforced.
VIII Congress perform this duty? cannot doubt that II
WILL The emergency is great and the Of this
power now imperative necessity In order sustain
the credit OF the United States and justify the govern
ment in issuing SO large amount OF Treasury notes.
circulate as money and be made legal tender in the
payment OF debts, Congress (as well the Commit
tee Of Ways and Means) is Of opinion that
by direct taxes, excses internal duties and duties i'm
ports during the current year, least 000 That
was shown BY the resolution passed by the Senate
Of government and the interest all the extraordinary
war debt and create sinking fund for retiring annually
portion Of the Treasury notes In carrying on the OK.
lsng war, and putting down the rebellion, IL s
ry to bring into exercise all the sovereign power Of tho
government to sustain ITSELF The war power must be
exercised fullest extent The money power Of tho
must be brought requsition The power
TO tax must be avaed Of All the energies of the
must be aroused and brought into action The power Of
the and the means OF the people must all be
devoted to this great work. The government DO
preserved and this nation Of thirty States
perpctuated. The life Of the nation is in peril, and all
we have and AN hope for must be devoted TO main
tain its existence, until peace and quiet restored in
every part Of our common country. This bill Is q
powers granted in the constitution to raise and
support armies" and I" to provide and maintain
navy" In the present crisis Of national affairs it
necessary that the army should be supported" and
the navy 'maintaned." This necessity will be ques
toned by any loyal member this floor The constitu
ton prov des that a the laws necessary and proper for
carrying into execution the foregoing pOwers' may be
passed by Congress II the end be legitimate and within
the scope Of the constitution all the that ap
proprate which are plainly adapted to that end and
which are not prohibited may be constitutionay EN-.
poyed to carry 1t into effect. certain 10 the
exercise Of any Of the powers expressly given by the
constitution TO the government OF the Union be ap
proprate measure not prohibited by the constitution, the
degree Of its necessity is question Of legislative dscre
ton not Of judicial The government Of the
issuing treasury notes on demand, and making them
legal tender in payment of all debts within its jurisdc
ton. The constitution Cart Sec 10 prohibits the States
from max ing ANYTHING but gold and silver coin legal
tender in Of debts but this does not at all
strict the sovereign power of the United States. Con-
ess has the power 10 coin money, CIRCULATE the value
thereof and Of foreign COIN" Gold and silver, by
long practice practice that has continued for centuries
among all nstionshas become the legal money of the
world in all commercial transactions Its real intrinsic
value is not ~ great as that fixed upon by government
All governments fix the value Of gold and silver and with
out the government stamp gold and silver would be
simple commodity, like other things having intrinsic
value. Some governments fix the value of coin higher
and some lower just as each for itself chooses to deter
mine Any other metal thing that should be stamped
and its value regulated by al the governments the
world would pass equally well in all commercial
lions gold and silver, although not intrnscally
valuable AExchequer bills Treasury notes value
is fixed by government and stamped money, would
pass money in the payment of debts within the juris
dcton OF the government fixing such value. IN rcguat
ing the value 'coin, either foreign domestic, Con-
gress may provide that gold and silver shall be Of
greater n the payment OF debts within the United
government, which Stamps such coin and 1xes It's
value. These high powers Of government have been
frequently exercised by Great Britain during her
land notes q legal tender in payment of debts
within the United Kingdom and other govern
sns Of Europe have exercised the same high preroGa
lives whenever necessary TO preserve their existence
But not left to this argument alone for consttu.
tona power issue these demand notss and make tHz
q legal tono9 IN noht OF depte, - will endoavQy
he. TO show The Attorney General in an unofficial
op'nS6, gwen 70 me a ny sollcilssion, says
The hill afsff providing the isue Of Trees Try notes.
c?ptk this clause namely "And such Treasury notes
sblE BE lawful moacy and legal tender in OF all
debts public ana pva with the United Sta,es And
you my opinion whs ther this clause 10 not cons
utona Certainly the constitution contains direct verbal
prohibition. and think contains nferen al prohibit
on that fairy from rs e!pSessed terms The
ess specifically sres, mas. Of powers section niue con;
States AID upon ndiyidusls and section ten contains
onty that treats Of tender mo State shall make any
thing gold and silver coin tender In aymer Of debts
This applies 70 sss only and noto the nation and thus II
cedins .ass IN the same section .No STATE shall ein bills
credn The prohibition 10 emit bills Of credit Is quite
prohibition 20 make an, thing but gold aud sill
doubt its TO .sue bills of credit Treasury notes
bills OF credit and think 10 Just much ohibed
the other. Neither is forbidden 10 Congress-
The constitution provides that Congress shall have pow
opass "a laws necessary and proper" for carrying
into execution all tho powers granted 10 the
Of the United States any department officer thereof
The word necessary az used 10 not limited by the addi
tionsi word "propsr," but enlarged thereby
the word necessary used the rigorous
II would extraordinary departure from the
Of ihe hfnsn mind exhibited I'm solemn Instruments
add another word the only possible effect Of which is
rtoo eanu and IN