Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-09-22
NON -TAXABiLsTYWF GOVERNMENT
RONnS

The Journal Is stilI harping upon the tax
question. Since il commenced the discussion il
has changed front entirely few days ago
in an article abiding to the resolutions OF the
Republican Convention of Minnesota. it argued,
~ the true policy. that We sh ould not violate the
contract with our bond holders, and favored
strict ecouomy in our national expenditures, $50
that the new loans can be negotiated at lower
rates Of interest than the present. and the
same time leave the new bonds subject 10
STATE and local taxation Here the ground i.
assumed that new bonds can De made subject 10
State and local taxation
AZ the commencement Of The discussion the
Journal declared that The States have no power
to tar United States securities. even in the alb
sencs Of Congressional prohibition" We quote
still further from this organ of the Bondocrscy.
Referring to the act OF Congress prohibiting the
States from taxing the Govern ment bonds, the
Journal says:
" But tho bonds equally free from taxa
ton. without tho Congressional legislation 10
which We have referred, which was as Senator
Sherman aptly described IN a recent speech, only
important a. nOuhc alton TO the public creditors
OF their rights under the Constitution of the
United Ssa,es, "a expOunded Or the Supreme
Court"
Agsn, after quoting decision and opinion OF
Chief Justice Marshall. the Journal says:
1T will be remembered that there was an act
OF Congress prohibiting the taxation OF It's bonds
by State authority. bu: the decision was based
upon the broad ground that they we're exempt
from such taxation by force OF the Constitution
itself"
Again tee Journal, after quoting the decision
Of the Supreme Court Of the United States. in
1872. took tue fOllowing decided ground against
the right Of the States to impose tax upon Gov
eminent bonds
'In the face OF these decisions. the attempt by
any State to tax the puoIic deos of the United
States would De usarpatioa. and the enforce
ment of tax would 0e act Of reroiHfion and
REBELLION against The Constitution "
Yet ia the face oil these declarations that ''the
attempt by any State 10 tar the public debt OF
the United States would De u.uFpstios and re
bSllion sgains, the Constitution. il takes ex
acsIy opposite ground in advocating that the new
bonds herafter be issued shall be left subject to
State and local taxation Aud again Il re
marks: The creation OF a de6t subjee. TO
State taxation. re deem question Of ,rped<ney
and no, OF Constifufiona! po,rer Oae day the
Republican central organ declares that tie at
tempt to tax The public debt Of the United States
would be REBELLION against the Constitution and
on the next that il Is mere question OF eIpedi-
ency and not constitutional power, IL this is
not right shout face -e know no; the
meaning % language The fact i. tse
Journal changed front when the Minnesota
Republican Convention declared in favor OF
equality in taxation, and Ne suppose twill De
stronger IN favor OF tue cxssdisaey OF subiecting
the nep debt 70 Safe tsxatiou suce the New
York Republican Convection demands such
congressional legislation a. will make taxes
equal and impartial upon all classes" U no
logger talks about tie sanctity OF the decisions
Of tie supreme court an The eoDstitutionality OF
eIeupti0g capital inses.sd in Government
bonds from S;Aic and local taxation. the same
- other property. In sacr. il is vserinS around
"a rapidly as it eau 10 the very position which.
two weeks ago. II denounced a. coppsrhesd
notification against ths authority OF the
United Ss.te- Verify the world moves. and
ths Journal revolses TO meet the eIgsneies OF
the horr. Al extra session OF the Legislature
viii coon convene The political editor Of the