The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1863-12-16

equate 10 meet the requirements OF the
public service. III
sfhe urgency Of the need was such. how
ever, that, after very great embarrassment,
and more than three months Of assiduous
labor, you succeeded in framing the law
Of the 24th Of April, 1868, by which yot
sought TO reach. 50 far as was practicable,
every resource Of the country. except the
capital invested in real estate and slaves,
and by means Of an income tax, and tax
in kind on the produce of the soil. as well
as by licenses on business occupations and
professions, to command resources sufficient
for the wants of the country. But very
large proportion Of these resources could
only be made available at the close of the
present and commencement OF the ensuing
year, while the intervening exgencies per-
mitted no delay. ln this safe of affairs,
superinduced almost unavoidably by the
lortunessof the war in which we are engage
ed, The issue Of Treasury notes have been
increased unit! the currency in circulation
amounts to more than six hundred millions
of dnllars. or more than three-fold the
amount required by the business Of the
country.
need not enlarge upon TIE evil effects
of this condition Of things. They are uD-
fortunately but too apparent. In addi-
tion to the difficulty presented to the me-
cessary operations Of The government, and
the efficient conduct oi the war. the most
deplorable OF all its results is unaOuste tedly
ITS corrupting influence on the morals Of
the. people. The possession OF large
amounts Of Treasury notes he's naturally
led TO a desire for investment, ard with
constantly increasing volume Of currency,
there has been an rqoalr constant increase
of price 10 all objects If investment. This
effect has stimulated purchase hy the ap-
parent certainty Of profit. and spirit Of
speculation has thu, been ios,e.ed, which
has so debasiug an infuences xGd sgcii
ruinous consequences, that II j. cur high
est duty 10 remove the cause, and no mea.
sures directed to that end eau be toa prsm2t
or tso stringent.
| Reyerting to tho constitutional provi>
sions already cited, the quesIi.n recurs,
whether il be possible to sxecste the duty
of apportiening taxation in accordance
with the census ordered to be made as q
basis? So long ss this appeared % be
practicable. meme can crny the prs1riety
Of your course in sbstsining frsa ,hs in-
position of direc. taxes till yos ceuld exer-
else the power in the precise mode poisted
out by the terms Of the Fundamental law,
But IL is obvious that there are 1asny du~
ties imposed BY the Csastiiutisr. shich
depend for their tul6llment on ihe undp3-
turbed possession of the terfit.sy within
which they are 70 be perfosasd. Tbs s,ras
: instrument which orders . census ts be
made in all the States. iapa.ss Tie jsty en-
the CoOfedpracy Ito guarantee 10 every
State republican form Of gsseSnment.v
Ii enjoins on Us "ts prate.i seca sste
from in.ssion,' and shils ar. i.rns tha.
IT'S great objects and purposes ~ " 10 es-
tAbIish justice, ensure domeslic a.qa.ity,
and secure The blessing. of l.ber,. 10 "ar-
selves and our posterily," Il santeg. tue
means. and thereby imposes oa - ,,,s para
/ mount duty, Of eGecting ,,s ,ni.nt. by
!, Lining aud collecting taI.,, daas., i'm
. ports AMI eKeises, seces.ary t. psy tbs
, debts. provide Cor the sanmnr dri-nce.
J aud carry on the GersrInent OF lke Con-
i. fedtrste States
, None would pretend that the ,onsiitu
! ton is violated becssse, by reason VI th,
. presence Of hostile arnies. We az u1bl,
4 10 guarantee a republican term oI cavern,
D mcnt to those States. or parii"n sf Sts,e,
: noe Temporarily held BY the easmy, aus
q littls justice wsuld there be IN impntin.
]. blamr fys the failure TO make the census
!. chen that failure 10 attributable IL cause
j. not fore.esp by the astsar Of the Constitu
. tion. aud beyoad eur eaatrol. The gene
!. raj intent Of eor constitutional charter i
J. vala laes.isaably that the property of th
!. c.antry is 10 be taxed in order to raise re
e sease ler the common defence, and th
). special mode provided for lesying this TAI
|. & iu, he [rnIn nnlnre slr n car .es