Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-08-22
TAXING covKa>uENr BONDS.

TAXING GOVERN uENr BONDS.
The Journal is Fat footed sgsins. taxing Cor
ernneni bonds for State and local purposes We
give lie ON words 80 that il shall not say u vas
nisrepreseated:
Occasionally We hear men talk OF taxing
them-men Who ought 20 know better than talk
so-for 10 DO 20 Is species Of Reputation. AZ
Tree booss may Be t-rei. then the whole face
may be regulated. The came power that takes
part can take ell.
Then With great eoolness. bordering on iDps-
dsnce IL gives the following advice to those Who
do no sgres with il in opinion:
ANY gentleman Who is disposed to complain
efthescE of CJugTe.s TO- e.enpting iron tara
ton for certain purposes the bonds OF the Gov
srs nent. has = perlsct right 20 dispose Of bis
property and avail himself % the superior Advan-
tsges offered BY the securities Of the nation"
Suppose all the gentlemen Who are disposed to
complain Of the act Of Congress should adopt the
suygestisu OF the Journal. what would be The re
s1lti There are thousands Of farmers and
mechanics in Indiana whose property With their
labor supper, not only their families. bu, add TO
the common wealth Of the State IL these men
should eel their property and avail themselves
tes OF iSs nation. this vast srny Of producers
would be turned into non producers. mere con
sunsrs, and instead OF addng 20 would become
. charge upon The wealth Of the nation But
there are thousand. of farmers whose property. il
sid and invested 10 Government bonds. would
not have sstscent income for the support Of them
selves and families. Aud there are thousands Of
mechanics. also. who have perhaps little home
stcads and shops. with ie- tools. which sna-
bss them 20 support their families comfortably,
add pay their tribute 20 Tho Government, which.
IL converted into Tho securities Of the nation.
would no, give them income enough to live
upon. Are these men 10 be told. tsuntingly
that il they complain about the &C, of
Congress for exempting from tarision, for
certain purposes. the bonds OF the Government.
they are al liberty 10 dispose Of their property
and avail themselves Of the superior advanta-
yes offered by the securities Of the natiou"s
But suppose the remedy proposed by the Jour
nal should be adopted. who would be left 90 pa,
the local taIation-sheIe would the States
counties and municipalities get the revenue ne
cesssry for their maiutsinance1 Aud where
would ths money como from to even pay the in
tere-, upon the oondi. il the journals remedy
should be reduced % practice1 The men VITO
are now producers as farmer. and mechanics
would become drones. living of the labor oi
those Who did not happen 70 have their property
invested 10 uDtaxsble bonds. The act OF Con
grsss eIeDp,ins Government securities from
a 10 n.
policy OF the nation should be to make az many
OF its people producers 81 possible The effect
Of that legislation j. Just the reverse
But. beyond all other considerations, the in
justice Of exenPting any species of property
from its share of tribute to the Government for
II needs argument or illustration to demon
sirAte H. Why should A who has property
Invested in land manufactures. the product.
OF which add to the wealth Of the State, be com.
PEELED TO pay the taxes Of b.. Who has an equal
amount invested 10 Government securities, which
add nothing TO the public re.ourcesf But III,
answer j., We must not violate plighted faith
tiat TO do so would amount to reputation
The reply 20 this il. unwiss aud un
just legislation should be corrected. arc
even the holders OF bonds should hav,
enough patriotism ana suficisn, sense Of jus
tice to not oniY consept, but to AK for the repea
OF such unequsl laws. H. fact 10 would ineres.
the value OF the bonds and u,sks more certain
the payment OF tbs Interest upon them. il she,
were placed preci=el, upon the s. me footing 70
tixstion purposes with other property This
every sensible nan should se. aud understand
Bat enough for TO day.