, 1866-06-26
THE GOVERNMENT DELFT.

EDITOR Chicago IHbunt.
Ssnutor shcruan'4 bill Icin; considered as
Killed, and hy many as imperative II It had
not bcen. It Is thc part ot wisdom tc ct,nslder
s4,1nc othcr scheme 10 take lis place, for the
pars,o>c OF consolidating tho uunentus loans
now known a. the Government debt. and r,n.
tIesinc them uniform AID cahily understood.
a..d bringing about = resumption Of specie
| payments, eycnat some fat distant day. It u |
doubtful II any loau At less rate tbau SIX per |
cent, however long or permanent, viii bc |
| popular at home. Abroad the five per cents |
arc now utterly ignored and never dealt In at
t all. believe, tho s1x Ter rent hv.-twcnttes |
| seing tic most liked In connectitu with
! new loan, yarions schemes OF taxation have
| also t,ccn discussed and devised. Stsuc would
seem To have been based upou tac known
lacts that powerful Governments sofno-
| tunes do th'nes In connection With thcn
debts that would nut be permitted At all IN
individuals: Thus. .,,.1 nunesT q. O. sears
compelled thc English Government 10 Impose
| a., income tax {outy temporary oac. 1t w.s
aid al the time. tat it has never ye: 5-cu
taken osi.} the Bank oi Easland. .at ascsl
a.cut OF the Kingdom. rccrlScd p,slttSe or
tirrs 10 DEDUCT t.,r LAX from tic E:ve!nsn ns
| coupons o. they were pro .cnted. lad u.t.a
pha1i$cc Of nm Eneiishman ever whispered of
Reputation, though thry would ha3c shouted
! prnns, lvania had attempted the same thing.
1 Whatever arc uH,ent may be pres. ntcd In ia
| ynr Of taxing tt- public Indebtedness. It +
telcrahly crrtaln that no system can or will
c iersly absurd principle OF placsn:: burtuens
d upon bond loldcn i. home frou which Tor
1 risnrrs arc exempted. In TIL: placc hope TO
ps,,raa 10 sls1k ,n - ,.n1a1; .,g9n5
c uujus. decision Which Chief Justice Chase
J. made IN the casc Of Jack%,u. the I:rclikhman.
j against the Northern Central Railroad OF
\ Pennsylvania, where ha strained and 1ulo-
IL isl. determination to rrlcasc the Ea@lahtnan
IT from obligations winch hume oondhoide-s
Of were compelled to pay With Interest," ex'
ii rrcl1ng thereby. probably. tfor II would x
-. difficult to imagine what other r,otfre conld
- actu.tc such decision, 10 raise ths credit ol
/" tho country ahfr4d. Let uur lt zisaat"ss act
in ali such cases n Ifthcre were o abroad no
be England or Europe about it, and Foreigners
n, The Interest shcv get At home, th:y are Il PCT
=. fcct liocrts to let them alone Els no adsan
~ ,.ec 10 hsve millions OF these securities con
nc tit,,sllY oseillating 10 and ffo. ACROSS III
nv inE other million. Of gold out OF the count7!
~. to Ray interest every year. Ka'her iertslat
e. TO keep lhen popular 1t home. .nd of o
psa means giss tue foreign any adS4ntaEe whal
inc | tnducemcnt whatever TO scnd them ab:oad.
mr rsactlcal men thrn. IN An effort to prspesa
~, place new l.,an. will be disposed to make
~" long twenty or thirty years one At siI p
ae' cent, ~ all the 7-::;;3s. Some seren or cisf
her hundred millions arc alrcadr convertIh
for into .uch loan at the option Of y
nd. holders. II an uniform lax On Il
49, income or Interest Of tbcse bonds VIC
W. tncn lcvicd tcali 1t An fncoms tar if xe
'os p'casc, OF three per cent 1t w''uld f'7ohab
ape be ak much as equity would drsraot. q
would give an tnc*,.nc Of scvcnl millions
dpllArs year, taken en .Hdsss from ttc 10
holders, botu home .nd torct2u. II Kree
backs were al retired and converted snt., q
lean loan. rs thev must be souae d2v. ~h!e
pun when consolidated. would aiaount To- :
A. q, 5m. .00o. .Ooo, thr interest on Which xou1d
,n,a {lso. 600 900, IN income tar On which.
sa s1a- three rcr cent. wonld y,e:d creme b t
hing thc prcsrnt nlHimu,u rate OF 3va rses &C
the Can any better scheme than ilis be devils
whtct, thall bear equ,ta"ly and Justly nf
ali rartiee, b3th At home and abroad, .
soe4- at which neither can tad iault, which wo
ance have the great advantage Of MI costing \
viz: thing in The way Of commissions Y any o.
| Evx