Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1865-09-14
and BY endorsement in blank, passing as

States bonds, which have been thrown into
foreign markets at sacrifice, prostrating
the already reduced credit of the State. =
And q third, grasping at expsdients in an
hour OF embarrassment, has added 10 the
grievances Of her people mammoth bank
ing Institution, the heavy mass of whose
stock is owned by foreigners, plunged the
credit Of the State within its vaults, legal
lied its suspensions and double plunder of
the people, until an enormous debt hangs
like an incubus over the State, and insel-
vency stares the creature Of its "expedien-
cy" full in the face. And all this has been
done under the special pretext-,et forth 10
title OF a bill to create gigantic monop-
oily, destined to curse the people with debt
and lnsolyency-oF ABoIIsHISG A STATE
TAXI
In all these expedients, whether temper
AIRY or. permanent, there Is but changing
OF public burdens for moment, and con-
slant addition to their weight. By none
such do We reduce the dangers which are
sure to follow in the train of a publio debt
in the hands Of foreigners; for, whatever
moneyed institutions are created by, and
united in pecuniary policy with the Gov
eminent, will pass, 10 greater or less ex-
tent, into the hands of foreign capitalists,
mate itself more nearly to sovereignty, and
ally itself by the strong chain Of its "neces-
sity" and 'expediency' to the law making
power of the State. Its ascendency in 9th
er governments has been fatal to the inter-
ests Of the great mass of the people; and,
to the free institutions Of such Govern
ment as we enjoy, and the prosperity Of its
citizens, it is the 'ass laden with gold,
more to be dreaded within the citadel than
the war horse caparisoned for the battle"
Subsequently, in communication to the
General Assembly, he reaffirmed this doc
trine, and protested against any resort on
the part of the State of Ohio to doubtful
expedients" to meet her increasing indebt
edness. He held that 'thc faith of the
State, where it has been legally and hon
estly pledged, should be preserved invio-
late;" but to do this in the future, ''the
sovereign authority should set rigid bounds
to the debt, which, under the pledge of
that faith, is SO rapidly accumulating. y
Taxation and retrenchment was his theory.
There was great inequality in the taxa
tlon OF lands, town and chattel property,
which led to misunderstanding, confusion
and wrong. Mr.. Brough urged as remedy,
the appraisement of all taxable property,
at its real cash value. 1t was true that this
would swell the duplicate to very large
amount, but the larger in the aggregate OF
taxable property, the smaller the rate of
taxation. .--.-
After the adoption of the system Of pub
lie cimprovements-the construction fcanals
and turnpikes--thcre were many who ad
vocated a continuation of this policy dd III.
tiunl, without any regard to what it would
cost; and under the management Of their
friends, the debt was sweled from little
less than FIVE and half millions, to about
nineteen millions of dollars in about eight
years-from 1885 to lS43. Then the pub
lie works, originally designed were c7mple-
ted. New schemes were Immediately pro-
posed, but this Mr.. Brough earnestly COM
batted, in the following language:
In relation to the debt in the aggregate,
now that our public works are completed,
sound policy requires that here it should be
stayed. That preservation OF the faith and
credit of the State require this; and if it be
possible to add to this obligation, the bur-
dens which it has imposed upon our people
more imperieusly demand it. The re-estab-
lishment OF our credit, as manifested in the
rapid rise of our stocks, is calculated to ex-
cite to new expenditures. The facilities
for obtaining money are ever the stimulants
to extravaganza. individuals have found
such the road to ruin; and if We cannot
stoop to learn of such humble examples,
more than one of our sister States now
stand out as beacon lights to warn us ofthe
dangers that threaten U.S. That which,
more than any one thing, has inspired pub
lie confidence and restored the credit Of our
State, is the guaranty of existing laws, and
the pledge of those who have been commits
stoned to administer them, that in the COM
pletion of existing works we have reached
the limits of our debt. Our ability to sus-
tain what we now have is not doubted; it is
the increase which will again prostrats our
credit, for the reason that, while it will add
to our obligations, it will, at the same time,
violate our faith. 1t is useless to multiply
words upon this theme. Prudence, dlscre-
tion, sound financial policy, are no longer
arguments that enter into the consideration
Of this subject, 1t is now the stern COM
mand of duty-duty to the State, its honor
and its faith, which are yet untarnlshed;
and duty to its people whe have thus far
borne its burdens without lepining, and
whose honesty and integrity have spurned
the very idea of reputation. 10 the re-
quiremen.s ofthat duty, thus imposed by the
State, and the people you represent lad,
uIesSluB luo leRlSldtoFS,I diu Oou'luSoe
you will not turn deaf ear. Be firm in
this, and the character of our great State
will be maintained; whilst the accumulating
revenues upon our works will gradually re-
lieye the people of the taxation that now
rests upon them Depart from it, and the
end is at hand. 1t is written in few words
"a State dishonored, and constituency
disgraced. ...,.
HE BECOMES DIsGUsTED WITH POLITICS.
T. While Mr.. b Brough was still Auditor Of
State, he bought the Phoenix, y in Cincin
natl of Moses Dawson, changed its name
to the Enquirer, and put in his brother
Charles Brough as editor. After the close
OF his official term, he practiced law in Gin
cinnati, and also wrote editorials for his pa
per-. There is some evidence that Mr..
Brough had an honorable ambition to rep
resent the State in the United States Sen
ate,r for which position his broad and com
prehensive views of public policy and hi:
great ability as a public speaker admirably
fitted him; but in lS48, becoming disguised
with the rro-slayery inclinations of some ol
the leaders Of the Democratic party, and
| the corruption Of that organization, he re-
solved to have nothing more to do with
politics save as an elector, and be sold one
halfof the Enquirer to H. III; Robinson. ,
A RAILWAY KING. o io.i..