Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1866-10-30

wanted to pay war expenses, Eng
and and France were hostile, ana
would not lend rs. The wloIe cor
perhead party were hostile and said
all they could and acted the dog,
swapping first AZ congress, then at
the. war imeosuros, then at the finan-
ctS. II was said We were bank
rnpt, used up, whipt and played out
ma ion-the soldiers nothing but
Lincoln hirclings and miuions, de-
| serving Of annihilation. The Gov
ernment was on its last legs, our
credit gone.up and gold flm al s., %
to S2,15. Congress consulted. Sec
rotary Chase said, "therc is. but one
way to raise money none viii lend
but the loyal people Of tile L. S.
They will only lend, cor ditional that
until things get squared, the Bonds
issued in exchange for the public
loan he not subject to State and mu-
nlcipal taxation. Well, congress
thereupon enacted law authorizing
secretary chase TO issue interest
bearing Bonds running five, ten ana
some few twenty years, the same
not liable to be taxed for local pur-
poses; these Bonds were all sold at
par, hundreds'of millions OF them to
the poer. as many to the abiding
classes and fewcst to the rich. Had
these Bonds been subject % local tax
alton they would not nave been la
ken at par by the people, bat would
have gone off at 80 to SO per cent,
discount. This was the opinion of
the present Secretary OF the Treas
ury. The Bonds were issued and
taken under law which congress
cannot 50 amend as TO require the
holders to pay interest during the
time they are to ran. Bua when
these Bonds expire and are PAID off
the L. S. raising the money to pay
them by issuing new Bonds, then
will be The time to provide for tax
ing these new public securities. No
body prctends to say it can be done
before.
When new Bonds are to be issued,
let them be taxed. 1t will certainly
satisfy the clamor, if nothing more
But If, ewing to our having to sell
the new st 20 per cent discount, we
shall haYc to pay @l,2Q in bonds for
every dollar raised, and so add fifth
to the public debt, would It not be
a rather dear practice.
Besides, suppose the Bonds were
taXable--this very day taxable, same
as other property, how many
thousands Of dollars do you suppose
would be reported to the Grant Co.
Assessors? Mr.. !. w. Brunson might
report his. He would certainly not
hold bacl, dollar. Yet we doubt If
there arc twenty others in Grant
County to report their ponds Tor tax
alton We have now state law
providing that money shall be assess
ed and taxed. Very well, Mr. Brun-
son has reported his money to the
Assessor and so have we, the writer
hereof; but how many Others have
80 reported We venture not 100 in
all of Grant County, nor is enc per
cent. Of all the money in circulation
reported for taxation. Why, the
Assessors, in solemn convention and
With faces of owlish solcmnity, most
solemnlv did meet 1t Lancaster ana
did resolve that all money Of thesort
known rs Greenbacks is not taxable
therefore exempt. Now we venture
the same ASSESSORS would equally
defy Congress, and Heaven were y
S Bonds taxable, same as other laon-
ey.
And the result oftaXing L s Bonds
would be lhcsc several sequences A
very few in the hands of honest God
fearing men would be reported and
taXed-sav not to exceed one per
cent. of the two or three thousand
millions in circulation; the remaining
80 per cent. would be concealed, and
the owners by foul perjury and every
means foul and unclean would escape
taxation. Why, in Lancaster there
are men worth tens Of thousands in
Bonds aud money who nevec pay
any taxes therefor, nor for any taing
else that can Be covered iron. light;
and when false swearing comes handy
to evadc payment Of the least tax it
is the resort and practice. -
Yes, We should like to see T. S.
Bonds taXed-only provided other
property, holders are thereby hcrc-
htcd. We should like 20 see thc
thousand millions Of money in circu-
lation taxed as the laws provide
/ bat there is va way to reach the
same. Wealth is au awful demorali-
ger, and some how the masses Of peo~
pie Worship ii and IS dogs lick rs
rotten sores. \ Few do not so, among
them is Brunson, q man that would
deal Justly But we're he TO announce
his nanQc for ASSESSOR there would
be a howl from the bend holders
and a grander howl from the mons
Bondhol aers, saying clown with
that just man, Bruason.o
We notice, singalarIy, that The
rogucs-unequivocal reprobates, are
also favoring q taxation Of T.. S.
Eonds Why There can be but
this explanation: When Bonds arc
issued to replace the original Five,
/ Tweneies we shall enact law for
taxing them Wcil, the taxation
provision sends them below par at
once 20 to Sc per cent. Says ov-
] cry rogue, now, III buy all
| can, at say 30 per cent. dis.