Cincinnati daily press. [volume] (Cincinnati [Ohio]) 1860-1862, 1862-01-13

OF State Auditor and Treasurer, they will
bear reduction of twenty five per cent
thus saving the sum of $125, 900.
The amounts levied for local purposes, for
the year 1861 were:
Eounty.."''"..'... ...~.....".".""S 1925 40 43
Poor 3i2 325 10
hCau.''''.- 430253 IS
Brldgt 324490 49
Dullul 26lO37 30
sub District School an c6ooi 6oIss z5 8 sS9 sSS Ss
City, Town aud Borough h.............. 1000 IgI SIS
Other specal 535,025 As
Making total lof.."................ S7,Ol4 7is 6l
OF these several items, save only the Door
tax, it is believed that at least thirty three
per cent may, without serious and with but
temporary detriment to the people of the
State, be withheld from the several special
purposes, and made applicable to the general
treasury thus constituting aprincipal means
of providing for the wants of the General
Government, without any increase of the
present gross amount of burthens upon the
public. In this crisis of our beloved coun-
try's great tribulation and needs, it behooyes
our public authorities, as well as private
individuals, to forego many of the comforts
and luxuries of times of peace and prosper.
ity, and exercise rigid economy and pru-
dent self denial.
l have, therefore, to recommend to your
earnest consideration the adoption of suita
bic 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 can we'll be de.
vised. The object of the law is to bring upon
the duplicate all the property in the State at
its true value in money. So far as property,
visible to the several assessors, is concerned,
this object is, generally, we'll attained; but
there is reason to fear that inOisibLe property,
particularly moneys and credits, to large
amount, escape taxation. therefore recon-
mend that more severe penalties certain of
enforcement, be provided for failures to give
in to the assessors this species of property.
The citizen who willfully attempts to evade
his just proportion of taxation for the sup
port of the government that protects his per-
son 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
interest, would recommend the creation Of
Board of Assessors for that special purpose;
but, to avoid the creation of new officers and
consequent expense to the State, recon-.
mend that this Board consist of the several
County Auditors Of the counties through
which the road passes. This Board, thus
constituted, should be required to meet at
the principal office ofthe company, and there,
after inspection of the books of the company.
assess the total value of its property, and dis
tribute 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 company feel
ing itself aggrieved; and such Board might,
also, supervise the assessments of the vari
Gus Boards Of County Auditors for the pur.
pose of equalization. By this means defects
now existing may be remedied with triaing
expense to the State; and it is confidently
expected that q large additional amount will
thereby be added to the duplicate.
1t is hoped that all new causes of expendi
ture may be avoided, and that every effort to
promote economy will be made. am, how
ever, constrained, from a sense District duty,
to recommend the continuance of the recent
law, authorizing County Commissioners to
assess tax for the support of the families of
our troops during the war The provisions
of this law were wise and benefcent and
have prevented much distress and suffering.
The charters of the several Banks of the
State, created by the act of February "a
lS45, will expire on the lst of May, 1866. In
view of the very extensive interests involved
in any sudden change OF the monetary sys
tenn 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, l would
invite your attention to this subject at this
time. You are, however, aware that the
Secretary of the United States Treasury has
recommended a measure which, if adopted,
will have a most important bearing upon
the subject hence | deem it advisable, for
the present at least, to abstain from inter-
feTing with the matter. Should Congress
dispose OF the subject at an early day, may
deem it my duty to send you special com,
munication during your present session.
1t may be advisable at this time, however,
to consider the propriety of promptly reliev.
ing the banks from their disability of paying
out the paper of institutions that do not
redeem their issues, on demand, in specie.
1t is known that the demand notes of the
General Government, as also the notes of
nearly all The banking institutions of our
sister States, are not now redeemed in coin
on demand; hence our banks are unable to
receive, in payment of debts due them, or on
deposit, any of this vast description of cur
rency; for, not being permitted to pay it out,
of course they can not receive il safely.
This condition of things must necessarily
affect the credit and circulation of the issues
of the Federal Treasury, and greatly cripple
II in obtaining means to prosecute the war.
Great as the evil of tolerating by law sus-
pension Of specie pay ments, to any extent,
is known to be, it is better to endure il than
to embarrass the Federal Government ia
obtaining means to vigorously crush out the
rebellion. ] have, therefore, to recommend
that you at once authorize the several bank.
ing institutions of the State to offer in pay
ment of their issues, when presented for
payment, the notes Of the Federal Govern
menL payable on demand.
The broker or 'Shylock" who may wish
10 hoard his money in times like the present
should not complain if he is offered the notes
Of the Government from which he demands
protection for his person and property.
1t is, believe, conceded by all that the
banking institutions of our State now in
existence have been managed with skill and
integrity, and with degree of lberality to
our Government highly eOmmendable; it
would, therefore, be ungenerous TO presume
that their managers will attempt to make
improper use of the relief nov recommended;
but be the risk of this great or little, we
must risk every thing necessary to put down
the unholy rebellion. .fE ..'
The banks availipg themselves Of the pro
visions of the law recommended should be
required to furnish the State, in proportion