Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1864-01-13
TAXATION ". REpUDrATroN

:. TAXATION w. REPUTATION.
It II settled principle Of national IS well Is of
| individual policy, that tides o6seruonda x,t and
the basis Of all honorable dealing is credit Tas
| tsnfederats States are new government, sensi
tive Of its claim to recognition IS government dc
Jurs and urging that claim upon the nations Of the
earth. It claims to ,have Constitution for It's
governanca' That Constitution has given Con.
/ gTsss power lSec g. ART ~ to borrow money on
the credit of the Confederate States" Upon. that
credit it has borrowed money. and by several acts
contracted to pay certain rates Of interest for the
use Of that money. Patrioticcitixens have chsnged
large Of capital to the early government
loans, which we're hassd upon credit and good faith
Diticaltss have arisen, financially, and necessity
exists TO- raise money to meet its engagements and
Question now is pending in Congress Is torths
ways and means of meeting the pubic debt.
Has the government held its faith in its promises
to Its cred,tefs !? 1t has promised to pay gold for
interest on Certain bonds-it has failed to DO 80 1t
promised that Treasury notes issued on its credit,
psyahlen two yeasa, should be payabls in spees-~
bus hid to meet tbs ob,iSAtion then ptosnissa 70
rsdsem tasm with coupon bonds 1t ten years, with
per cont interest ard when the reiDmption came
it was in stoel and not in bonds. Niian the uar
tax WAS laid, one hundred millions of Treasury Aotss
were issued fundable cat any time" in per cent.
bonds; yet one year after, limit was put 20 the
sbiy of the notes and an Unsuccessful attempt
was made by the government to destroy the value
of the notes Is currency. The people repudia.ed
the attempt and the notes are still currency, Fhe
persistent and increased issueof Treasury notes BY
the government after repudiatiug the tundabity of
the former, has deprecated their value andnow the
question comes UP of rsi-ing their value. Various
propositions are before Congress for relief of the
currency, Ind, strange to say, reputation is not
! only not condemned, but actually recommended
In the commencement of the war, when the first
call was made for loan and eight per cent offered
for il, large investments were made, and widows
and orphans had their property sold and put in
eight per cent bonds son the credit of the govern
ment" Nov it is actually pnposed to issue new
oonds with four per cent interestrot to be tazed,
for which the holders of the eight per cents are TO
| be forced to exchange those Obligations, By the
threat of taxing the latter and thus repudatng the
first contract Take the old Uni ed States govern
ment, which We all have declared utterly corrupt,
and did it, with all it corruption undertake to
tax its own debt? Chief Justice Marshall decided
| that an attempt to tax government stock is tax
on The CONTRACT tax on the power to borrow men.
ey on It's credit and consequently unconstitutional
reduction Of the interest which the borrower Was
to have paid for the loars, clearly affects the con,
tract and the Constitution distinctly states Artiels
l. SECTION 10O that no "es post facto law, or Law
impairng the obligation Of contracts" shall be pass
ed. YET after Solemn contract of new govern
ment, under the guarantee Of the Constitution it is
proposed to set it aside and change the terms of the
contract to more favorable terms for the borrower.
The Confederate States Of America stand before the
eyes of the world claiming sympathy and recogni
ton, and volating with faith its citizens who
ward with their treasures we'll as blood to esta5
lish its credit What spectacle! There is moth
ing so demorsizing to our people the dsappoint-
ment they experience in witnessing efforts t. violate
| the faith of the government We believe they are
resdS to give their lives and fortunes to the cause
Of independence ard will submit to the heaviest tax
alton, rather than have the stigma .ttsched to their
government of breaking faith with those who should
be especially protected. The early loans Of the
| government were taken permanent Investments
by estates, guardians and Others and they have
right to claim that the faith Of the government bs
| kept with them. o.
We call upon our members of Congress to srangle
reputation in every forn and let the credit Of the
Confederate States stand forth to the world the
true symbol Ct the personal honor and integrity of
her citizens There never has been, and never will
be, authority delegated by them to do what is dis
honorable, and our representatives should remem-
Der this. Tax incomes, tax property. tax whatever
is legtmately taxable, but preserve the fidelity Of
the government in its contracts. The extraordins:
ry legislation recently in relation to- substitutes OF
holding men in the army owing no service there but
through their principals, while they are also claim
ed, has alarmed many at the prospect Of systematic
repud,st,on. The violation Of the tacit pledge Of
protection from npressment at least for time, by
the passage OF the 1.-THE law. with the arbitrary
claim of al the Surplus produce of the country,
while the tithe is uncoeaed or wasting in depots,
has depressed the spirit Of people, ana our leg
islators should lock carefully to fRrther legislation
We are sangnne sfthe ultimate success Of DUR cause,
but it is painful to witness depression Of people,
Brought on by though.les., and we might almost
say reck less, egislation.-Saush Carelinian.
Civil LAW TO BE ENFORCED IN ALAsA4A.-The
Legislature of Alabama at its recent session. passed
. stringent law with reference to the preservation
Of the writ of Aa6eas corpus inviolsble 1t gives
citizens no right which they dd bot possess before
under the sanction of the law, but in this era when
some legislators manifest disposition to make this
time honored right discretionary with one individ.
ual the supreme power of the State deemed it NEG
essar to protect its invioability by afixng penal
i