The Semi-weekly Shreveport news. [volume] (Shreveport [La.]) 1862-1864, 1864-01-15


rule provided, which is 10 make the tan
uniform throughout the Confederate States.
The considerations just presented are
greatly enforced by the reflection that any
attempt to apportion taxes amongst Sta,rS'
some of which are wholly or partially in the
occupation Of hostile forces. would s"over'
the whole intention of the trainers "i the
constitution and be productive OF the m"st
peyoIting injustice, instead ct ti'at gust CO.
relation between taxation aud representa-
1iOn which it was their purpose To secure -
With large portions OF some OF tHe H'''Ss
occupied by the enemy, what Justce woni"
there be in imposing on the REMAINDER th'
whole amount OF the taxation OF the entile I
State in proportion to its representation -
What else would this be in effect, than 10 ~ !
crease the burthen of those who are TIC I,
heaviest sufferers by the war, an't t" ntk'
our own inability to protect ihem from ihN"-
sion, as we are required to do by the CON Z
stitn,ion. the ground for adding to Their ,
losses bv an attempted adherence t" tn'
letter, in violation of the spirit OF that Inst''-
ment, No such purpose could nave "eci'
entertained. and no uch result conlehlpia-
ted by the trainers OF The constitution. A.
may add weight to these consideratnns i
we reflect that although the constitution
provided that it should go into operation
with a representation temporarily diStthuf-
Ell among the States it expressly "Idnin-'
after provid for census WITHIN th!''
years, that this temporary dstIlhu'io" "i
representative power is to endure ""tii
such enumeration shall be made Nnu'a
any one argue that, because the census can
moi be made within the fixed period. Tie go
vernment must, at the expiration OF that pc
Rod perish for want OF IL representative No.
DIV! In any aspect in which the SUBJECT
can he viewed, l am lead to tue conclusion
already announced ami which Is un'!eI-t
to he in accordance with vote taken III one
or both Houses at your last session. lshaA
therefore until we are able 10 pursue the
precise mode required by the constitution
deem it my duty to approve any law lew
iny the taxation which yUu are bound !"
impose for the defence of the country. III
any other practicable mode which shall ais
tribute the burthen uniformly and impair
tally on the whole property OF the people.
In your former legislation you have >ouEhi
to avoid the increase in the volume OF notes
in circulation. by offering inducements {"
voluntary funding. The measures adopted
for that purpose have been partially sue
cessful. and the evil has now reached src!t
q magnitude as to permit no other re'Hc'S
than the compulsory reduction OF the cur
ruucy to the amount required by III" bus q
ness of the country. This reduction sh"uI .
be accompanied by n pledge that, under Il"
stress of circumstances will That auount hr
exceeded No possible mode Of using ii"
credit of the government can be 50 lisa
trous as one which disturhs Tie basis OF a
exchanges, renders impossible All ca'cu"-
tions of future values, augments, IN COZ
stantly increasing proportions, the rI!ce
all commodities. and SO dcprcciateS all fin
cd wages salaries and incomes, rs TO ren-
der them inadequate to bare subsistence
If to these be added the still more fatal III
fluence on the mcrals and character OF Tia,
people, to which have already alvcitcd |
am persuaded you Will concur III inc cor
- ~. I'D Ia uIb .y,I,rC IA, IA %
imitation of the currency at a fixed sum. is an
Indispensable clement of any system OF n.
ance now to be adopted.
The holders of the currency now on.
standing can only be protected in tn" re- '-
very of their Just claims by substituting lot
their notes some other security II H.
currency is not greatly and properly I"
duced the present scale OF inflated prir'-
will not only continue to eXhi-t. but ir'
yery fact Of the large amounts thus mad.
requisite in the conduct OF the war. t''.'-'
prices will reach rates still more cNtrai s.
CANT, and the whole system will fall nn''
ia own weight thus rendering the redeIg
ton of the debt impossible, and destroy IA
It's whole value in the hands of the hoi l..
If ON the contrary. funded debt. with IA
terest secured by adequate taxation can H.
substituted for the Outstanding curr.ne'
its entire amount will be made avai!ab, i
to the holder. and the government viii h'
IN u CONDITION rltDlluS II ~. 'tii I'@' - ''
any possible contingency. to rroSccu;" 'E'
war TO a successful issue. II is therefor"
demanded us well by interest Of the cred
itor as of the country at large. that III" ~
dence of the public debt now outstanain:
in the shape of treasury NOTES be convert
ed into bonds bearing adequate interest
with provision for taxation sufficient Il
ensure punctual payment, anu final re'ieuiH
ton of th- whole debt.
The report of the Secretary of the Tr"a~
ury presents the outlines OF " )! som winch
in conjunction with existing Legislation. /
intended to secure the several objects -.
reduction of the circulation within IL II
reasonable limits: of providing for ft'' IN
ture wants of the govcrnmeni: OF iuSir's
ing security for the punctGa! payms.,t d.
interest. and final extinction of the prime
pal of the public debt and of placing isi
whole business of the country on u has!
as near a specie standing as is possib!
during the continuance of the war. "al
nestly recommend it to your consideration
and that no delay be permitted to inter
yene before your action on this vital sui
ject. | trust that it will be suffered
engross your attention un'll you stall nav
disposed of it in the manner best aloptc
to attain the important results which You
country" anticipates from your leglelatloi
1t may be added that, in considering Tia
subject, the people ought steadily to k'r
in view that the government. in contraciin
debt, is but their agent; that its debt
their deut. As the currency is held excl
sively by ourselves. it is obvious that.
each person held treasury notes in eNa'
proportion to the value of his whole mcau
each would in fact owe himself the amour
of the notes held by him and, were it p"
sible to distribute the currency among u
people in this exact proportion tax levi.
on the currency alone. to an amount SUI
cient to reduce it to proper limits. won
afford the best of all remedies.
Under such circumstances the notes 4
manning in the hands of each holder, aft
Ar o,,,ruapt Of his tay woull he wur