Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1865-01-13

t""' - N'a44 an a ffH 1cars seusi
oiy reduce The debt The Inauguration o.
ihi' Poics w0ui greatly strengthen th.
credit ~ the State. ard facilitate the ne-o
tiaiion of 10 bonds. II the coalition of fh,
trsasnFF shall require.
The imposition OF tax q a sinrl. anil
upon The saluaiion of 1850 would b. en,ir,..
u adequate O. the purpose The policy o,
the last Legislature in lesyinc a state tar
sufhcIen' O. pay AT the ordina-v charrr.
upon the treasury. inclodrng interest on a..
STATE debt. and a large surplus 90 o. an
plied to The liquidation of the claims oi
cites and tosns for money advanced in AID
81 thc soldiers' families vii commend i,.~li
% your favorable consideration IN making
provision 70 supply the treasury for the
year i-6c.
AssrNrrtoN oF STATE bEnrs.
Ihe ncccs-ities 81 The nation have com
peIed Congress 20 resort 20 tie impo.;fio,
OF taxes hitherto unknown o. our feopie
and that - ar extent which nothing, but the
most anstFlnSing Loyalty makes tolerabls.
unt which. While the necessity continues.
wlll not he called IN question
A14ed o. this. snd in order % give tie
naiionai government almost exclusive ros-
session Of the market Tor ihe sale OF H.
securitcs. and induce the purchase thereof
1s the people. they have been especially ex-
etnptci from municiDal ant State taxa,io-
be power 90 do this has been iudiciaIl,
athrnled By tie highest tribunal known 70
cur laws
The -isdom % tLis policy 10 no, pro
pose 90 discuss. The conseGuen~~ - 20
increase thc burden of STATE taxstioa ur,on
ihc VISIBLE, hxod property in th- States. bv
inviting Nsrg largc investments in punlic
vi.
lions. ARISES another. gr0wing out 81 the
eSerrise - thc power bv Con-r- -. cant
ing charters % the National banks ani tbr
Imposition ~ snch tsxes upon existing state
insfltuiions a. must coulrsl them o. throw
asidr their STAT charter and transform
thrmseises into National banks. or % sur.
render then ani qait the fcd. One OF
thf other of these alternatives awaits Tie
banks of Maine.
Toe sprrvnlcr 20 ea-i Stare charter i--
wolves loss g. the treasury o. atax which
trom time itnn~nsoFisl has bern paid sv
every bank created by fhr laws of tbc Siats
IL the Outset. a. -oon A. the State H. The
outset. a. soon a. the system % National
hanks ~As inangurated. The IeglslataT. Of
this state. n The spirit 81 fairl-ss and ius-
tic-. rcmiftcd one half % fhe bank tax. AMI
aIthonFed the surrender of tb- charter ~
any bank by a vote % = maioritv % it.
ockhold-rs. rhe loss % this state 81
revenue derived from this source bv the A.
tion oi Congrrs. on the basis ~ the bank
ih- caplial exi-iing two years since. Will
t't hr less rhan S~'f.oN per anngm
The case stands thu. Will. th- States.
counties. cities ami towns. in their efforts
20 respond to the demands of the nafion
have incurred hcavy debts. 90 meet which
increasel taxation = demanded. Con---s,
devHing means % the same end. IA iul -
Paircd their ability O. provide for even their
current. usgal expenditure by fhe With
drasal ~ the one hand OF large portion %
capital from liability O. rontribute 90 it.
an on th~ other ~ the absolute annihila-
tluu of iDrg cstahIlshed source of revenue
AZ thc late session of Congress. A resolu.
ton vas pre- e1ted 90 tie House q Rep
resenfaiivcs ~ gentleman rrprrsenfin.
this >tafe in psrt mon the deor of thar
body. ASKING for the assumption hv the
Jui,cd States of ihe debts sf states. coun-
tie.. cities and towns. incurred in al of tie
general government in prosecution ofthe
uar lhis We enforced ~ = sueerh q
eminent ability ani rrscarrh. prccedents
for fbc measure iu thc uniform past acton
of thc -overnueut. at The same time demon
s'raiing be- iustice By great variety Oh ar
-,uroeuf.
These 3rti. have been incurred f1r the
nafionai deicnce. upon whi -h yr0unI alone
lustlcc demands their assumption by tie
nI'rt ~'afes arf stil more loudly is 90
~a..ei ior BY IRE fat that sources of rev
rnuc on the states have been dried up by
q t1ugressioual action. SholI yol concur
ln this viev % The sabject. some appro-
pirate legislative expression b. recon
fnended