The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1865-12-20
ednesday Morning, December 20, 1865,
The War Debts of the States. .

il N F. ! 7
During the last Congress Mr.. Blaine of this
State, offered a resolution in the House
which he backed by an able speech--looking
to the assumption Of the war debts of the
States by the General Government. We did
not at that time take much notice of the mat
ter, not from any objection to the thing itself,
but simply because we thought the time had
not come when the question involved could
be acted upon and settled most understanding
ly and with the best effect. The war was
then in progress, and the contest was undecid-
ed, and no mortal man could then tell how
many more calls for men and money would
be required before the bow of peace would
again arch the political heavens 1t was nee
essary then to guard wisely the national and
State credit, for both State and nation were
in the financial market as borrowers of mercy.
To increase the State debts by the assump-
ton by the States of the debts of the towns
and other municipalities, would possibly serve
to lower their credit and add to their embar-
easements in raising money, and to the rates
Of interest or of discount to which they might
have to submit. 49,, --,.,.. .
The same reasons existed why the national
Government should not at that time assume
the war debts of the States. Such assump-
ton might nnfavorably affect its credit, and
embarrass it in procuring the "sinews of war.
1t seemed wise to distribute the debts as wide
ly as possible. Then, too, the amount of the
debts proposed to be assumed, could not be
dafinitalu oonnnutad The x,o. -. - N, - :. q
ing, men and money were being called for, and
towns, cities, states and the nation all bend
ing their energies and pledging their faiths to
meet the demands and necessities of the times
All this is now changed. The war is closed:
peace has come-we trust to stay. No more
quotas are to be filed; no more bugle blasts
summon to arms; no more large bounties are
offered for men to swell the ranks; no more
soldiers families, in indefinite numbers and for
indefinite amounts,are calling for municipal or
State aid. We have touched bottom, and now
stand firmly upon rock, and definite and cx-
act estimates are within the reach of calcula-
ton. Neither State nor nation, for war pur-
poses, has to 60 into the market to borrow
money, so that the same reasons do not exist
now that did for distributing the burdens all the
way down from the nation to the smallest
town, SO as to keep the gross aggregate out
OF sight of the sharp visuals of the money
lending Shylocks, who stood ready in Wall
street TO take advantage of every namable fact
by which they could depress the government
credit and thus buy up bonds for speculation
Iicn .
There is no reason now, that we can see, 1
why the General Government should not as
sumo the war debts of the States, the States
having first assumed and thus consolidated
the war debts fthe cities and towns True,
the adjustment of these debts would involve
labor in details Of no small magnitude,
and would require the exercise ofno small de-
gree OF frlnness and good judgement,--the
latter to discern the right and equitable scale
of adjustment, and the former to resist all pres
sure made to get special advantages by one
State or section over another. Towns and
States that have paid ercessiue bounties rath-
er than put their own "bone and MUSCLE into.
the army, should bear the excess themselves,
while States and towns that have put their
own men into the fields, by the simple stimu-
lus of patriotism, without the large bounties,
are none the less deserving reconsideration in
the proposed adjustment. Let some basis be
adopted that shall apply to all the States and,
all localities equitably, according to the results
which they have accomplished in supplying
the requisite material for our loyal armies,
and then on such basis let town, city and
borough debts be assumed by their respective
States, and the whole by the General Govern
ment, six or even five per cent. bonds being
issued for the amount, and load would be
taken from the loyal people of the nation in
the form of local and State taxes, that would
at once tell upon the prosperity of the land.
Local and State taxes, which now range from
two and half to three or four per cent.
would be reduced to from three-fourths
to one and a half per cent, and the
burdens of our people would again be
light. With such condition of things the
complaints of unequal taxation, growing out Of
the exemption of national securities, would
cease,sor these complaints derive their force not
so much form the fact of exemption itself, as
from the oppressive burdens of the taxation
imposed upon our people and their property.
Let Government provide for this assumption,
and then reduce its expenses to the lowest
practical standard, and the people will not
fail to experience relief; and then let 1t work
in earnest for return to specie payments and
the redemption Of its currency in hard cash,
and there will no longer be controversies about
the scantiness or the abundance of the curren-
cy, for when reduced to metallic value the
volume will be regulated by business, and cur
rency thinkers will find their occupations gone.
The Case of Sturtevant vs. Allen.
"Some months ago" says the New York
tribune, "an action Of SANDER was tried in
Boston, involving an accusation by Aaron H.
Allen that one Leonard Sturtevant was trail
tor, or Copperhead, or something Of the sort.
1t was alleged that by reason Of the slander,
plaintiff had been arrested and imprisoned fif-
teen days in Fort Lafayette. 1t was further
charged that he had suffered. greatly in repr-
+ot;n,, ;,,;,,r,y fr, his f.,al;noa OIL