Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-12-28

matters, with taxes 80 high that even those
most blessed with property have hard work
to meet them-the greater part of the
wealth of the country locked up
in National Banks and Government bonds,
which are exempt from taxation, the fol-
lowing from letter from this city to the
Cincinnati Commercial, will be found of in
terest to our citizens:
tit is feared that embarrassment will
arise in this and other cities, in raising
funds to meet municipal expenses, owing
to the large amount of certificates receiv-
able in the payment of taxes of the stock
holders OF the National Banks, whose taxes,
paid on their stock, are thus refunded to
them under joint resolution OF the Legis-
lature, in accordance with decision of
the Supreme Court. 1t is said that the
deficiency in Columbus alone, from this
cause, will be 100000"
The Supreme Court of Ohio which made
this strange decision that the stock of Ma
tional Banks should not be taxed, because
Congress arrogates to itself the right
to interfere in matters purely belong
ing to the State, is composed entirely of
Radicals. And the Radical Legislature of
last winter, subservient in all its acts to
the bondholders, passed law compelling
the County Treasurers to pay back the
money thus raised by taxation into the
Golfers of the National Bank stockholders,
and for this the property of Columbus will
have upon the tax duplicate sixty thou
sand dollars, in addition to the large
amount to cover up the stealing of Radical
politicians at the Deaf and Dumb Asylum,
and the taxpayers, already ground down
by excessive taxation, will have to foot the
bill.
AS it is in Columbus, so it is in other
cities. All must pay their proportion OF
this retunding, which the Judges of the
Supreme Court, in defiance of the State
Constitution, which says that ''all property
employed in Banking shall always bear a
burden of taxation equal to that imposed
on the property of Individuals" have de-
clared must be refunded. s---..-..r e
The National Banks are the peculiar pets
of the Radical school of politicians. Their
owners bought Government bonds at
two-thirds the amount they called for. On
each one hundred thousand dollars of bonds
purchased they paid but $66, 666-on these
bonds they draw interest at 7-30 per cent.
amo uniting to $1,000 per annum. These
bonds are deposited with the Secretary OF
the Treasury, who gives the bank issuing
them ninety Thousand dollars in National
Bank notes, and on these they bank. Be-
sides this, the money collected by general
taxation is deposited with these pets of the
Radicals and which they use in discounting
paper for their friends. Thus for $66 666,
which the bonds cost them, these banks
draw interest on $4,000 all free from tax
alton, to say nothing of the still larger
amount they draw from the general
deposites. Yet because the State
taxed the stockholders of these banks just
as they would tax other citizens, the Su-
preme Court of Ohio steps in and orders
the amount to be refunded, at the expense
of the people, as if the tax payers of the
State had no rights that Radical Con-
gress and Radical Court were bound to
res pect-the Constitution sheet of blank
paper, upon which the Court can register
their edicts to give them the binding effect
of law.
Under the administration of the Govern
ment of the United States by the Demo-
cratic party, there was no Government
tax levied. All the expenses were kept
within bounds, and were provided for by
duties on goods imported from other lands.
Then the duties were so low that articles
deemed necessaries OF life, such as tea,
coffee, etc., paid no duty. Now every arti-
Gle needed for common use, made at home
or abroad, is taxed as high as possible,
either by tariff duties, by stamps or by
direct taxation, and this, too, while the
great wealth of the country, in Govern
ment bonds or National Banks, escape.
The increased State taxes, will be still
more largely increased by those OF the Cen
eral Government in the effort of the Radi-
cal party to hold their ill-gotten power
The cost of registering the Negroes to be
made voters in the single State of Virginia,
during the past year, was $239,00O and the
cost of the military establishment in the
State for the last ten months was $5,000,000
six millions year. At this rate the reg
istration has cost, in the ten Southern
States, S239OOO0, and the military estab-
lishment, for the past year, $50 600 600, in
amount more than double the cost OF the
entire National Government during the ad-
ministration of JOHN QUINCY ADAMS. In
a ldition to this large outlay-for the single
purpose of making voters out of Negroes
there are others equally alarming. The
largest proportion of the taxes collected for
the use of the General Government is
squandered and stolen. The Secretary of
the Treasury is the authority for the state
ment that if the right sort of men were en-
ployed in the Department of Internal Rev
enue, the whisky tax, as it stands, could be
collected as certainly as any less assess
ment, but in consequence of Radical thiev-
ing and Radical inetficiency, over one hum
dred and twenty-five million dollars is an
nually lost. a s-1- s0'-. -
Such is the way the money goes, Such
the beauties of Radical misrule. .,...
The State taxes, too, have increased year
by year. Since the Republican party came
into power the industry of the State of
Ohio is burdened with taxation which its
moreyed wealth escapes. And even if the
Legislature, in the exercise of its bounden
duty, should cause the Bank stockholders
to pay their fair proportion of the public
burdens, the Supreme Court, as in the case
of the National Banks, stands ready to
decide that law of Congress can override
the Constitution of the State, and that
Bankers being a privileged class, need
pay no taxes to the State and municipal
corporations that protect them in proper
ty, in life, and in limb.
The reign of Radicalism has proven that
the people of the United States are the
most natient of anY on Gods footstool-