The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1865-09-15

peace and prosperity, must be antic-
ipatcd to supply the eXigt ncies, the
urgent demands, of the moment
The people, for objects the most i'm
portant which can occur in the pro
gress OF nations, have empowered
their Government to make these an
tlcipations, ''to borrow money on the
credit of the United States" Can
my thing be more dangerous or
moreS injurious, than the admission
OF a principle which authorizes every
state and every corporation in the
Union which possesses the right of
taxation, to burden the exercise of
this power at their discretion2
"li the right to impose the tax eX-
lists, 1t is right which in its nature
acknowledges no limits. 1t may be
carried 10 any extent within the iu
risdiction of the State or corporation
which imposes it, which the will of
each State and corporation may pre-
scribe. A power which is given by
the whole American people for their
common good, which is to be cxer.
clsed at the most critical periods, for
the most important purposes, on the
Tree exercise of which the interests
certainly, perhaps the liberty of the
whole may depend, may be burdened,
lmpeded, iG not arrested, by anyof the
organized parts of the confederacy.
In society formed like ours, with
one supreme government for national
purposes, and numerous state gov
ernments for other purposes, in many
respects Independent, and in the un-
controlled exercise of many impor-
tant powers, occasional interferences
ought not to surprise us. The power
OF taxation is ore of the most essen
tial to State, and one Of the most
extensive in its operation. The at
tempt to mainain rule which shall
limit its exercise, is undoubtedly
among the most delicate and difficult
duties which can devolve on those
whose province il is TO eXpound the
supreme law of the land in its ap
Iplication to the cases of individuals
| This duty has more than once de
vJlved on this court. In the perfor.
nance oft, we have considered it rs
q necessary consequence, from the
supremacy of the government of the
whole, that its action, in the exercise
of its Legitimate powers, should be
free and unembarrassed by any con
h!cting powers in the possession of
its parts; that the powers of a State
cannot rightfully be so exercised as
to impede and obstruct the free
course of those measures which the
The government of the states united
may rIghttully adopt.
This subject was brought before
the court in case of M'Cullock VS..
The State of Maryland, 4 w. BIC,
when it was thoroughly argned and
deliberately considered. The ques
tion decided in that case bears q near
resemblance to that which is involved
in this. II was discussed at the bar
in all its relations, and examined by
the court with its utmost attention.
We will not repeat the reasoning
which conducted us to the conclu-
sion thus formed; but that conclusion
was, that sail subjects over which the
sovereign power of State extends, ;.
are objects of taxation; but those
over which it does not extend, are
upon the soundest principles exempt
from taxation" "The sovereignty
of a State extends to every thing
which exists by it's own authority, or
is introduced by its permission:' bat
not ''to those means which are en-
lployed by congress to carry into OK
ecution powers conferred Oh that
body by the people of the United
States" "The attempt to use' the
power of taxation son the means en-
Ipleyed by the government of the
Union in pursuance of the constitu-
tion, is itself IN abuse, because it is
the usurpation of power which the
people of single State cannot give"
The court said in that case, that
: "the States have no power by taxa.
tion, or otherwis, to retard, impede,
, burden, or In any manner control the
Operation of the constitutional laws
enacted by congress, to carry into
Execution the powers vested in the
general government
!, We retain the opinions which were
, then expressed. A contract made
by the government, in the exercise
OF its power, to borrow money on the
credit Of the United States, is un
| doubtedly independent of the will
of any State in which the individual
who lends may reside, and is un-
, doubtedly an operation essential to
the important objects for which the
government was created 1t ought,
therefore, on the principles settled
, in the case of M'Cullock VS.. The
State of Maryland, to be exempt from
state taxation, and consequently from
being taxed by corporations deriving
their power from States
AS will be seen by the above, the
highest judicial tribunal of the coun.
try--the Supreme Court of the United
States-speaking through such men
as Chief Justice Marshall and Chief
Justice Taney, has decided Govern
ment bonds cannot be taxed by States.
The State of South Carolina tried it,
and so did Maryland, and in both