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

The Controller Of the Currency does MT
state tie case as strongly as he might rave
done. Having been asked whether legal
tender notes were liable to taxation ty State
or municipal authority, he simply answered
the question and there stopped, We pl!-
no cti to 90 a little further into the lnyeStl-
gaton of the question. ..
AS the Controller says, the last clause OF
. section ], act OF June 80, 1861, provides
that. ~.
".4Y bonds treasury notes and other obll-
eatiorS Of the United States, shall bo e1
cmvt from taxation by or under state or
municipal authority, -.
What is meant by "other obligations, Is
| defined in the 18th section OF the SAINT act,
| which section reads:
THE words obligation, or other security
! Of the United States, nSed IN tins act, shall
be held toincludc aud mean all bonds, eou-
p3ns. National currency, United States
notes, trca}ury.notcS, fractional notes checks
for money Of authorized officers Of the Unit"
ed States, certificates Of Indebtedness, Ger
tifcaeS Of deposit, stamps, and other repre-
sentatiyes of value whatever denomination,
which have been or may be issued under any
act Of Congress.
The Auditor of State SAYS that the word
''obHgationso means Certificates OF Indebt-
odness, and Of deposit in the treasury, GER
tilted vouchers &c, and not circulating
notes made money by law. 1he lay 0!
Congress, however, says Obligations IN
cu,lc aud mean not only certificates OF IN
debt, dncss, certificates of deposit, and Ger
nfea vouchers, but also Naijonnl ctHTency
UnfeI ,StdfcSa0teS, .EacttDHdfnofeS, stamps
and oil 0thrr representatives Of rdfRe o
whatever d, nomination, which hare been ol
man he issued under dRg act qt COHaFcSS =
If that section of the act Of June 30, 1864
! does not embrace lcca tender notes, we car
not conceive what language could be uset
, that would embrace them.
Not only are legal-tendor notes embraced
: Ey the words obligation and other securlle
: Of the United States, but, in our opinion
the issues Of the National bankS~-styicd b,
i the secretary cf thr Treasury, National clu
rencu--arc also included, That currency
t iycucd Under an act Of Congress, and tn
Government Of the United States is finall
G responsible for It's redemption. IT bond
are by law free of State and municipal taxa
, tion. 50 are legal tenders, the National cul
i rencv. and fractional currency. II Congrcs
q has the power to. exempt from taxation IN
+ homes issned hy the Government, so has
e also rhe power to exempt from taxation tn
IS notes and currency issued by the Govern
!, mort.
n The Auditor of State does net confn
y himself to simple denial that the act {
g Congress relieved egal-tendrrs OF State an
=, municipal taxation, but advances to an
: takcs4hc ground that. MS the Constitute
!. Of Ohio drc'ai os that ''noney shall be ia!
~ ed. Ccnglees can not repeal our State CoI
y .titu;ion. by declaring that money shall II
- he taxed lie, however, says. that ihe Sta
can not tax the bonds Of the United State
vet the Constitution of the State declar
That "al investments in bonds shall /
taxed. If Congress can not repeal OF
n, State Constitution by declaring that mo-
I'd cv shall not be taxed, neither can it rcpe
lie same instrument by declaring that Il
G, State shah not tax investments in bonds,
If therefore, an assessor can require OF Il
so citizens statement Of the mopey he h,
be ON hand on the 10th day Of April-tl
= We void s'moncy" meaning iega.tenders,
we'll as go'e and silver coin and baak not