Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1865-08-31
RTTyLAND HERALD.
MONDAY, AUGUST 28, 1866.
T,xing National SECURITIES.

~.
. such exemption. By their sale the nee
sessary funds were raised and the LIE ol the
nation was saved. 1t was not only the
rich who became the purchasers, out
farmers, mechanics, day-laborers, SOL
diers and soldiers widows invested their
savings. Now that the bonds are all
sold, Il few newspapers are clamonng
for the repeal by Congress OF their eN-
emption These are VIGOROUSLY the
newspapers which never employ or list
en- to reason, but are ready to mount In
hot haste, anything, however senseless,
Illogical or unlawful, OF which they can
hone to make political hobby and KICK
a dust into the eyes Of few deluded
Followers. There are just two such
newspapers in this State of Vermont,
and only TWO, viz the Montpelier
dyqus and the Rutland Courier. A rea-
sonably conducted democratic paper,
Hike the Burlington Sentinel, takes pre-
cisely the same ground on this subject
that we did in our article of last Mon
day. And in the emphatic, If not ele-
giant language Of cotemporary, the
fact that two such papers as the argus
. and Conriey are its advocates 'is enough
to damn any measure"
IA We asked the Courier last week, if
Congress, after these bonds have been
sold under its exemption, has not parted
with all power to repeal that exemption
ii such repeal would not be an un-
lawful violation of the contract with
the bondholder? We expected the
Coarir to dodge this question, and it
lodges. 1t cannot answer yes, because
that would at once admit away it's
whole ground, and it cannot answer no,
because that would be too mGntestly un-
true. But it falls back upon it's old
cheap, ad captaHdlha tirade about the rich
and the poor, about being paid to argue
for one side or the other, etc, with the
hope of covering up the real question
sinvolved We don't propose to follow
ut through such TRADE, and will only
say on this point, that if all the papers
which argue against the Co,trier's posi-
tion, are, as the Courier alleges, bought
sup, then the -4rgns and the Courier are
the only two immaculate papers in this
State; and if any allegation can be bet
s1ter refuted by the rea'tctio nd aJsHdHm
than that, It would be a marvel to
know it. ....r
f@ We propose now to confound the
D aComTe,', not exactly out ofits own mouth,
but out Of the mouths Of two other
democratic papers,-one the leading
democratic paper of the United States,
and the other the leading democratic
paper of this State,--viz the New York
@Vorla, and the Burlington Sentinel.
Both these newspapers have sense
enough to see that the hobby which
some of their contemporaries are endeav-
oring to make out Of this taxation bust
=ness, is donkey "that won't CO." and
] they don't see the utility or profit of
su''walloping" him. The H6r!d of course
has much to say of "the injustice of the
exemption OF these bonds from taxa
tion, and talks in.its pleasant; way of an
s'uprising OF the people" of "French
{ revolution, etc. But it admits all we
laclaim when it says: 7
Viii sit is said that public faith is pledged
to the exemption, and that the govern
1 ment would violate its honor in disturb
ing it. THIS IS doubtless true.
ss.s The Woyld further says:
ssA"What, then, do the tax paying part of
= the community ask of them (the bond
ah0ldersN Not to acquiesce in viola
lation of the public taith-for there is
no proposal to violate the public faith
but to allow this subject to be dis.
ecussed with the calmness and freedom
4 from excited passion, which can alone
4 insure that mood of mind on which high
considerations of public honor and
morality exert their full force. The
7problem is, to so satisfy the general
Sense of justice that the great body ot
tax payers will cheerfully support tbs
Tpublie faith, and thus take atcay all ezeus,
! fron, ineendiaSy dstsagegaes and yepadiators
The most solid guarantee OF the pay.
ment of the debt fs'a popular conviction
that the debt is fairly due; and that its
Z holders enjoy no unfair advantage ovel
1.-THE other classes of the community
1--WE therefore conceive tito be for tht
ssinterest of the bond holders to make M
Strenuous opposition to such method:
OF equalizing taxation as do NOT eoUDro
= ssfse the honor Of the government" =
M We agree entirely with the spirit O
the foregoing but how does the Courte,
(which advocates the State and munich
pal taxation Of these'bonds in spite O
the exemption, enjoy the epithets O
=. ! Z incendiary deinagogue and repudia
syor from the leading organ of its owl
d party H.eass zsiga8 rsA -selrJz
The WorH, then, admits that State.
cannot tax the bonds or (what is in eff
1ect the same thing the income derive,
nom them; it admits that Congress
cannot repeal the exemption but to sat