Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-09-18
BLACK HEFUBLICANIsu AND RE
DIATfON.


The Journal l. remarkable paper. IL sets
itself up a. an oracle in politics, Law and morals
but it, weakness in the latter point !. only
equsled BY its deficiencies in the two FIRST named
In It's issue Of Saturday last II spproprstes q
column and half TO the discussion OF the public
debt and the tar question, and the easiest mode
Of upsetting its statements and Arguments is to
place few Of them from one number Of the pa
per in jortaposition. In one place the Journal
says:
THE Sentinel while protesting that there il no
party in favor OF reputation, frankly admits
that IL iavos that measure. so far 40 10 violate
the contract By which the bonds OF the Govern
nent we're exempted from State and local TAI
alton. although the Constitution and the su-
preme Court must both be trampled under foot
before such tsIes cin be impostd This differs
oaly in q degree from a Reputation OF the whole
debt. When one part Of the contract has been
disregarded, the first aud most difficult step has
been taken. to The next reputation of the
principal of the debt. Is but step. and one that
the VsllsndighaEsers would not scruple TO take .
Here the Journai takes the ground that il
would 10 effect be reputation to tar the bonds
OF the Government for State and local purpose-
and IL expressly asserts that the Constitution
and the Supreme Court must both be trampled
under foot before such taxes can be imposed "
IL adds. that tn impose such taxation upon the
bonds differs only in degree from a repudiatio n
Of the whole debt"
In another place the Republican centrsl organ
takes a different tack In referring to the Min
nsso,a Republican resolutions. IL says 1t endorses
the one which refers 10 the public debt and taxa
ton. as follows:
That soon a. the re established credit OF
the Nation will permit, the Indebtedness OF the
United states should be made TO bear q less rate
OF interest than az present. and all inequalities of
the burdens Of taxation should be removed
The Journal then places the following con-
struc,ion upon The position taken by the Mime
sofa Republican
1.-The resolution OF the Minnesota Convention
is easily understood by any one who wishes to
understand IL. IL neither proposes 10 withhold
part OF the interest promised. nor to other wise
violate the contract with our bondkolders but
10 view OF the Tact that the Government has q
right to pay the larger portion of its debt within
the next three years, il embraced in the same re
solution declaration In favor of strict economy
in our national expenditures. thas the new
loans can be negotiated at lower rates OF interest
than the present. and at the same time leave the
new bonds subject TO State and local taxation
That IS the true policy"
In one place the Journal says that Govern
ment bonds are exemp, from State aud loca
taIation-that sthe Constitution and Suprem,
Court must be trampled under foot before sucl
taIes can be imposed" In the paragraph last
quoted the same paper Yields the doctrine tina
National Securities are exempt from local taxa
ten. and that is surrender of the issue between
us II SAYS that part OF the interest on tn
bonds outstanding must not be withheld by ma
king them subject 10 local taxation the same a
other property. bat when new loans made {,
cancel the present Indebtedness which mostly fall
due within a few years, they must not only b.
negotiated at a a lower rate of interes, than th
present. but. and mark the words. at the sam
time ieare the ner bonds sabjeet 70 State and lOca
farstion." That II declares I'D the true pol
icy But how the Constitution and The
Supreme Court are 10 be set aside il
this new arrangement the Journal doe
not disclose. Perhaps il may be under the Piles
oil, military necessity. A party of gentlemen
we're discussing measure of public policy soms
constitutional barriers which stood 10 the way
"Pshsw.' said distinguished Major General
who has an important command, lit i. nonsense
in these days to be talking about constitutional
restraints. That is an old fogy notion !" Put
ting his hand upon the stars on his shoulder, b,
continued, Remaining very significantly and sm
phatically. There is the Constitution which
governs the country" The Journal has con-
tended all along that act of Congress wa,
necessary to exempt Government bonds from
State taxation. but that. under the Constitution
as construed by the Supreme Court, the State
had no right or authority TO tax them for an.
purpose whatever-tha, the bonds owed no ale
glance but to the Federal Government
aud ths, Congrssalone had the power
TO tax them. Bus the Journal Jump. jim
Grow the question, and by some
hocus pocus the next loan must +" lesv
she new bonds subject to State and local taxa
ton The Journal ia very remarkable paper
but we suppose is blatant "loyalty" is suffi
Gent excuse for It's inconsistencies, its weak
nesses and its many idiosyncrasies. II it keep
On It's present course. the party tha, follows il
will soon get into q labyrynth OF difficulties from
which il will be exceedingly dihcult TO escape
According to its own theory Of reputation,
has become a repudiator. That VAS its last di
lsmma