Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1865-09-07
RUTLAND HERALD
SATURDAY, SEPTEMBER 2, 1865.
ruxins the National Securities.

The only question in this matter is
what can be legally, honorably and con-
stitutlonally done7 Ascertain that and
then all will join in doing 1t. II is gen.
orally conceded by democrats as we'll as
republicans that under decisions of the
United States Supreme Court already
made, the states cannot tax the United
States securities in the face of the Con-
gresslonal exemption. The Rutland Coz
,is, says they can. wesre inclined to the
opinion that the Supreme Court is rsther
Me best legal authority.
The New York Worla, the leading DEM
ocratic paper Of the United States, and
the Burlington Sentinel, the leading dem
ocratic paper of this State, both admit
that taxing incomes derived from U. s.
securities is the same in effect as taxing
the securities, and that therefore state
legislatures cannot tax such incomes.
The Rutland Courier says they can. The
Wovld and Sentinel being much the ablest
papers, we think they have the right
side Of this democratic dispute.
To these two points may be reduced
he page Of trash on the subject of tax
ing the national securities, contained in
the last Courier, and as the authorities,
democratic as we'll as legal, are so over
whelmingly against that paper on these
points, it is entirely needless to argue
the matter further.
We only repeat that the issue
attempted to be raised by the editor
Of the Courier, and on which he is
vain enough to hope Ito ride into
the Legislature, is an entirely false
one, and is one which is not recognized
by the respectable journals of his own
party. Not republican will be elected
TO either branch of the next Legislature
who will not do everything he may be
able to, legally and constitutionally, to
equalize taxation. There is not re-
publican member of Congress who will
not do the same. Because we, in COM
mon with many democratic as well as
republican papers, have endeavored to
show how the matter stands as question
oflew, the Courier tries to make its readers
believe that we are opposed to taxing U
s. bonds, and to equal taxation gen.
orally, as matter of principle. 1t is
false. But we have no desire to violate
law, TO break the pledged faith of the
government, to counsel Reputation, to
dishonor and help destroy the nation,
or, in the language Of the democratic
New York WorM applied to such men as
the editor Of the Courier, to play the
part Of an "incendiary demagogue and
repudiator" for the sake of getting
into the Vermont Legislature, or for any
other reason. As we understand it, the
United States Supreme Court has virtu-
ally decided that the present bonds can
not be taxed. If this is true, of what
use is all the incendiary and repudiat-
ing talk of the Courier If it is true,
then all that can be done is to issue new
bonds, in place of those now outstand-
ing, as the latter mature, which shall
be made by Congress subject to taxa
ton, and men of all parties will unite
in doing this. If it is not true, then all
will unite in doing whatever else can be
done in the premises. Whether it is
true or not, is purely legal question,
There is no chance to make a party
question Of it, and it is only those I'M
principled papers which are obliged tc
kick dust into their readers eyes in or
der TO sustain themselves, that are try
ing 30 make it appear as a party ques'
ton. The few who follow the Courier
win attempt to do what the law says
they cannot do, and will Of course only
injure and disgrace themselves accord
ingly. Those who follow the dictates
Of common sense, will first ascertain
what they can legally, constitutionally
and periodically do, and will then dc
it. That is all the difference.