The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1866-02-28

Are E.cgaE-TcHdeFS TaNabiS!-
Opinion OF the Ohio state An
dttOV-OpiniOR Of ike COHtrOis-
eT OG tine Currency.
As time is approaching for the State Au-
ditoI TO issue his Instructions to County Au-
ditors in relation 10 as>es slncnts of personal
properly for taxation, il may not be out Of
place to refer to the particular branch ufthc
subject, in which both the State aud people
are Interested We have before US a recent
letter Of the Auditor 0f State wherein he
takes the position, that lcGal-tcnder notes,
being money, are taxable-that the law Of
Congress which eXcmpts bonds and treasu-
rr-notes from State and municipal taxation
does not, and was net intended to embrace
lcgal-tendcr notes-and that If it did Con
gress has 20 power to repeal our State Con
stitution. which declares that all moneys
shall be taxed. The Controller OF the Cur
rency takes Il different view he Says legal
tender notes are not taxable. We give be
low copies Of the letter Of the Auditor ad-
dressed to 2 citizen Of the State and the let
ter Of the Controller, which was before the
Auditor when he wrote his letter They are
as follows:
OFFICE OF THE AUDITOR OF STATE,
CoLuMEUs, o., Jan. II, 1866.
SIR: On my return from New York. !
end YOURS of the 18th Of December, ult
on my table
All bonds, trcaSury-noteS and what arc
called o5HqGhonS OF the United States arc
free from taxation. But this word, obliga-
tons, can not be held to mean moneyor cir
culating notes made money by law. 1t
means certificates of indebtedness, and of
derosit in the treasury, certified vouchers,
&c. II the sense were not thus to I've re-
stricted, why mention tFcaS11y-AoteS.I They
arc obligations as much as a bond. But
treasury-notes being specifically mentioned
shows that the word obligations was not in-
tended to embrace chooses and other paper
not amounting, ina legal and echnica! sense,
TO an obligation Compound-interestn notes,
FIVE per cent treasury-noteS and all other
treasurv-notrs are exempt. But legal-tcn
der United States notes, issued for and made
money, and passing It's a circular medium,
are money and must be listed as money for
taxation.
| Our Constitution requires all money to
be taxed; and this is not contrary to the
Constitution Of the United States. Cou-
grcss can not therefore, repeal our State
| Constitution. s..
Respectfully. &c. a
| ISigned. JAS. II. GOD6l An,
| 49, Auditor of State
p. s. | inylosc the opinion Of the Controt-
cr of the Currency sent by YOU. 49,.
The opinion Of the Controller Of the Cus-
rency. which is mentioned by the Auditor,
| reads AS follows: ......
TREASURY DEPART MENI,
OFFICE nF CONTROLLER 0FTuE Curry
MAsHINGToN, December 4, lEGj J
J. Sia; Your letter Of the 9th inst. Is rccciv
oA
The lat clauye Of sec / act Of jane 30
1904, provides that all bonds Treasury
notes and other obligations Of the I Umitet
States shall be exempt from taxation by o
under State or municipal authority.
Section 10 of the same act defines tn
meaning Of the words obligation on oths
security Of the United States, and include
legnl-tendcr notes.
] am, therefore, clearly of the Opinion
that legal-tender notes are exempt IRON 10
cal taxation, State and municipal.
Very Respectfully,
,tSiCncd. n. CLARKE,