The Indianapolis daily herald., 1865-11-21
The motion to recommit was agreed to.

MIR COBB being friendly to The bill vas will
ling to have il recommi,ted as proposed. and
hoped the Committee would repor, at an early
day
The motion to recommit was agreed to.
TAXING UNITED STATES BONDS.
Mr.. MOORE offered the following:
Rsolrea That the Committee on Finance be instruct
ed 10 inquire into and report this Senate whether or
not Government bonds taxed by the laws Of
this Sta In their opinion they not report
a bill taxing the same as other property.
Mr.. BENNETT hoped the Senate would not
adopt the resolution in any shape Everybody
knows United States bonds are not taxed, nor
can they be taxed by the State. and the resolu-
ton is presuming that the balance of US are
more ignorant than we are willing to admit. Its
reference 10 a committee would amount TO
nothing
Mr. COBB. with due Difference to the opinion
of the Senator from Union, Mr. Bennett.
thought it a very grave question. Whether the
State Of Indiana can tax United States bonds
stocks Ii the Senator were TO read the opinion
Of Judge DEMO. of New York, lately published,
his mind would not be so clear While we NAV
not tax the principal of the bonds themselves,
there is no question but that We can tax he in
come upon these bonds / would reach these
boDd-hOders in every possible shape without
viol4tng the true spirit of the Constitution Of
the United States aud rules OF law | am lot in
favor OF legislatDg for capital against labor,
Let rs have taxation distributed equally among
all specially would | favor the labor
ing classes of community. l would invade the
contract itself for the purpose OF relieving the
people from the burdens OF taxation which were
forced upon Congress by the capitalists them
selves. The time will come when the people
will speak out, and then bondholders will have
TO do one Oi two things, or reputation will fol-
low. l am no repUdiator and I'm opposed to it,
but would. for the purpose of preventing that,
and protecting these bondholders in future,
throw enough of the burden upon them TO
make il equal. aud thereby prevent this uprising
of the people on account of the burdens OF tax
alton These capitalists ask the Government to
protect their property, and they Ought to bear an
equal share OF the burdens in order to keep up
the Government ! would not violate clear
provision Of law adopted in the spirit of the fun
damental law OF the land, but | would GO as far
as the fartbest, II could see my way clear in
seeing these securities taxed. These men have
no right to complain. When they saw the coun-
try in trouble they demanded certain rights to
secure them in loaning their money. Ii was not
patriotism in them, aud now they should be
taxed.
Mr. CASON. A properly drawn resolution
of this kind might be willing to see 20 to the
Judiciary or the Finance Committee. whatever
my private opinions might be on the subject. but
am not willing TO put myself upon the record
IN favor Of any such foolish thing. | am not in
favor OF reputation. in thing another,
and whenever we tax Government bonds we 20
that far toward reputation
Mr. WILLIAMS. We have n statute tell
ing US what is taxable aud what is not Ii is
very plain case to me that all Government
bonds taxable and would SO act until some
do lii NJ pur no In
contrary He read from the statute governing
the assessment and colle,t iDa OF taxes, ~
Gavin L Hord. vol |, page 10, sec 23i
Dir CASON Cannot that provision be SIT
aside by decision of the Supreme Court OF lie
United StstesI
Mr. WILLIAMS Until il Ia made for In
diana our officers should support this law
Mr.. THOMPSON. Against the General
Government
Mr.. WILLIAMS. Against the General
Government or ybody else.
Mr. OYLER. This is a question of abstract
law, and the Supreme Court OF tho United
States, the highest judicial authority in this
Government, has already decided that Govern
ment bonds are not taxable. That is in conflict
with this law of the State OF Indiana.
Mr.. COBB (interrupting,) when was tina: de-
cision made.
Mr. Ol LER. Not more than or months
ago, and II my memory serves me the decision
made by Judge Deno-to which the Senator
NEUTRALITY-SUSPICIOUS. the whole matter.
Mr. NAWTER. Do you recognize the doc
trine that the decision OF the Supreme Court is
binding upon all the citizens of this Government
Mr.. OYLER. do, sir.
MIR. NAWTER. Upon what ground, then,
do you justify the organization OF the party op.
posed To the Dred Scott decisioul
Mr. OF LER. Ii is not necessary for me to
justify il; the people have justified it to the
gentlemans satisfaction long since. IL is very
proper that the Senators from these dark dis
tricts should attempt 10 organize a nes party
upon that basis, and when they get A majority
OF the people with them they can have it all
their ovp way. | was opposed to the bred
Scott decision, but | have always obeyed
IL, "a gentlemen will have 10 do in
this instance. But do not propose TO discuss
the main question now As this resolution -
not SO much financial as law question, it
should 60 to the judiciary Committee.
Mr.. BENNETT. These bonds not tax
able, and II We had the power aud were 20 tax
them il would be one step toward Reputation.
Gentlemen may talk about some men having
the burdens OF taxation TO pay. while some men
have not: but | remember that when the Sena
tors friends had the right TO buy them il they
chose, they didn't want them; they said the
war was failure. aud that these bonds were Ut
terly worthless. But there was class Of men
in this country who had higher faith, men
Who had hopes in the army and navy. men
who had some love of country about them, ho
had hope that this country would come out
successfully. aud they put their capital in these
bonds. They didn't put it in old stoeking-leg-.
like the Senators frieads.
Mr. COBB (interrupting As far as ! am
concerned. do not propose. in this Senate, on
Al 49,
in politics. and | will give the Senator to un-
derstand that bis imputations with regard to love
of country do not come with good grace from
him