Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1864-05-13

tho magnitude of the subject not from the Importance
Of What say. may be entitled to some little time IN
talking about Il.
when this 0overnmen, was eonsiitutsd--and It was
made BY the people of the then existing stalesthose
States sl exercised aud had the right exercise the
power Of taxation unlimitedly within their respective
boundaries without any restriction. When the United
states Government vas formed that also invested
With the power Of taxation BY the clause Of the Consttu-
tion auboriang Congress 10 lay and collect sxes du-
ties imPosis, and eEcses That certainly did not de-.
prive the States OF the power Of doing the thing All
and each Of The States levy aud collect their taxes in
their way. The Government Of the United States
has the whole fed Of taxation open 10 H. all the subject
mater Of sIAon in the whole country and each State
has what there IL within s jurisdiction The subjects
matter Of anASn are the sane 10 each Govrnmen ex-
which in effect, though not Intentionally, per-
haps, ssquesteed and set apart to the peculiar use Of
the General Government IL provided in the Con
sturou that the States should not levy any duty upon
impoftAuons That s the only restriction there upon
the power Of taxation in the States That was not put
there for any purpose Of seques,erng that particular
branch the Of the General Government for
but that has been its incidental effect The trouble
vas that each State laid its duties upon impOrtA-
tions and they differed no laying them alike and
some laying none at all II was impossible for the Cen
cral Government TO make any commercial treaties under
the old Articles Of Confederation because each state
levied its duties and levied them In various ways,
that there uniformity In order TO enable the
Cereal Government 20 regulate our foreign commerce
in such manner as that We could make treaties Of and
concerning and for commercial intercourse with the
world became necessary 70 put the power Of leying
duties upon commerce entirely In the hands Of the Gen
erai Government, and TO have uniformity u was for
that purpose that this grant Of power more properly
speaking, this prohibition upon States, was made for Il
gave Congress no more power lay duties than IL al
ready had 10 collect taxes Of Kind or whatever Kind,
but 1t inhibited that particular eraueh OF su0jeetmser
of taxation TO the Saes for the reason have stated
and the feet " II Is sequcster thai particular branch
Of revenue that particular subject Of taxation, TO tn eH
eolusive use Of the Genera Government
The Constitution left the General Government to levy
It's taxes upon all subjects Of taxation in every
State Of the United States aud ief the States with The
exception have just stated 70 levy taxes on all sub
taxation within their jurisdiction both might tax
the same articles Of commerce, The same income the
land, the persona property, chooses 10 action
ate nything else. All the subjeos Of taxation
equally open 10 the two governments suppose had
been proposed by ANY one at that time We will insert
in this Constitution a provision that the General Gov
shan have not only this exclusive power or
lcyying duties imp1riAu0ns but ha have the right
TO sequester 70 Their peculiar taxation any species Of
property they please 10 any state and take away nom
state TAXATION do you believe there would have been
man found there, except the one who proposed IT, who
would have voted for It The thing is utterly in
/ conceivable.
Nov, let Us see what is before The United States
n the present condfun # afsirs-l blame rohody in
any remark make mean hnd fault With nothing that
Is done, merely call TO mind the condition of things
the Government Of the Uuitsd States has boNed Of the
inhabitants Of the several Statesfsr believe have
burroWsd very little from ahroadthe am unit cf money
which cons'uuies the funded debt Of the United
States, which, will be eH remedy moderate ia my state
ment now-amounts 10 more than seven hundred MI
lion do lars The United States have taken that much
money from the int abtAuts Il the several States r
roWcd II Of hem given them their bonds of H. ana nave
sequestered that entirely away from State taxation 90
That process will 20 on suppose Iht way hat came
10 be sequesere vas that wuen the United de-
red TO borrow money they supposed and believed they
could bpirow much more readily II they ~ouid say TO
tse people, " You have some money ou ~hch you have
pay ia your own State lend 1t % as We vii
pay vou interest," upon H. much you get az home.
per cent, and shall not be subject TO stae taxa
ton" They believed they could borrow the money
easier and better and with facility in that way
dnd no fault With that Perhaps the ~ssnes OF the
occasion called for II.
But, sir what next 1t tisnow proposed, and we do
not wish disguise the thing all IN deal with each
other however may with the world 20 take the whole
Of the banking capital In the states and sequsster away
from State aIauon because by the plan before US these
banks he mad the exclusive banse OF circulation
in this country aud they are 10 occupy the whoe ground
Of circulation occupied by sreeubAcks That u what
is proposed be cied and intended 10 be thected by
hs bi and many gentlemen say that unless the whole
Of be effected the plan is detective Then the
proposition Is that We viii tAke the WI e oahkng o"p
tai of the United states aud put into these oks and
will sequestef that altogether from state taxation
/ do not know how the 5 Ates are 10 get along with
taxation after another OF the sources OF money are
be dtaled away from them aud questered exclusive
y 10 the use United States have not the least
word say but that the United states must levy and
collect al the taxes and all the money they need but
let them do IL a. the stem nt Government was 10 meo
to do in the beginning, them do It Over the SAINT
field aud su]e t-maet sllh nc States aul
leave II all in common 10 he Iutd STATES Nefnmeh
and the State government That Is the principle OF
which We started grant thai you have IN me Oonsu
tuiion squestered . the Government the duties upoT
foreign imports but Al othe' selee's ot taxation arr
o common 10 bath the L iud States a. d State govern
ments by shouid they not feu ain SCI II cannot o
said that Thu Is NECESSARY because l"u Annot rare mon
~, for the poNer of o., the sud uf the Genera
Government reaches thing IN Very part uf M
: Uni ed estes, and IN each state hl me hahd ~ ma
Tavern snt: tut the toint IS whether the 6 utfa
u Goveinm, ~ sha reach their and say We vii
take aud stQuesief om The Onsratun OF aNauon by th
States pieces of properly that we mud most vAu
e ahe, and the, shall uot reach them at al
n am eifcc ly well a"A'e thai M uoubious times
and siotnee the cnden,l Of all things 10 To eunso
"a dalion Of P'w cut, because "e a'e aware 81 u4'
d. 81 t'cume Us to give Wy 20 H. aid never IN an
IN nner attempt check is Dad irndenty can hafd
q D., think that tie niItstutatl'ts N Tits body the re
present lives Of States siaes peculiarly arc prepared
NJ hv one step aft stohcr ~ Anutt tSutpations, II no
,nirey So to let The Stat be subsidized AID reduce
he necessi of getting Their fu DIS out Of that whie
= Ia X yentlemsi. TO look = moment the oond
their States with this ca ila all scquesered i-or
Dr their u.s. have made brief statement Of the hank
ing CAPITAL Of the different mud, for instance
that the banking capital Of Massachusetts, in 1868 wa
he s67 54i 600 an not familiar Win the mAnner 10 whc
that is taxed by the state for the support oi the st'
DC and the muniot al cor urations do no know.
al Mr Wilson Ore per
Mr. Cullamct The Stau tax is one per cont uI
derstAnd il to be like he in my own State We Ia
,o the bank per cent on its dividends some Of n
on seosesr the roce eds Of that tax entirely for II
us support uf schools Others do otherwise We then leaN
the shAte-oNners to have their shares estimated vii
S other personal property subject to taxation ior
ny local aud municipal pufpoFes, ike any other property
. In short they pay tAAts upon It Just as mey would
m they had the money loaned anywhere else. 90 n
know som what Of her wealth. to dispense altoseth
Gle with the upon sol 900 OOO the tax levied upon
shareholders n the bauks Of that State do not b
" hsye IT, not believe that State can get along qui'
he ly and with in that way, uking StI IOuOoUO out
her list OF pTupe't q liable to State taxation
The state Of New York has a banking capital OF SlO
de- Cos 900 may say the same Of that considers al
part Of that capital in state stocks but the great DO
nal Of IT, point o fact is in United States stocks
40 Bur that the point here. This is not the time
submit a ! the remarks which might occur to my mi
at IN rotation the attempt by this bill 10 reduce the ban
these different Sa'es 10 United states banks, beeat
us that is ent rely deTent topic, with Shch do
desire TO mingle up this question. 1be mere quest
here is whether that OF money can be sequesl
the ed away from state taxation together, and not -
r.. ousy d tuTb the Of STATE support, do not W
to enlarge upon that because suggestion OF II Is c
tAnly quite sufficient lead the mind to the full g
temptation Of its consequences The new States, VIII
inc they have very little Of this banking capital, may
yey little disturbed by u but the older the states
the more their capital, the more they are and must
oY disturbed -. -,
There is another branch Of this subject nearly allied
" mi, which cannot but necessarily IN connection W
ion his subect occur mind. IL is these taxes these no
An taaes Il at the people most distinctly understand
N" fealiEe. You 20 10 town In New England, Andthe
ntry for the support Of the poor every man understands
feels The same Is true Of the taxes for the suppoT
very their schools and for the building OF their highways
bridges These domestic, municipal ahaifsi Ia
laid under ate authority TO be sure and every .
understands and appreciates them Again sir you
US 20 into Of ordinary sized towns anywhere
ates New York PennsyiyAnia, OF New England, and u
AN, are some few comparatively wealthy men, but not ma
By foTtuitous ciroumstances you may occasionally
in each town man Of wealth The one that
=, now mention would be very unsupposshle case
the pose in Of some three thousand inhabitants
len. lives man Of wealth, for US man worth, say, -