The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1867-09-13
Extract from the Speech Of
John e. Lee.

SOAu - ACCs
The Democratic party says 1t is op-
posed to unequal taxation, and that
that government that tolerates un-
equal taxation, invites anarchy and
revolution.
Allow me to say that the Republi-
can Union party is in favor Of equal
taxation, is opposed to unequal tax
alton, and says that whenever taxa
ton is unequal its tendency is toward
anarchy and revolution. But where
is the application Of the principle9
The bonds that are slowed away
in the cracks Of the cabins, and in
the tills of the old chests, or stuck in
between the beds for safe keeping,
and which cannot under the Consti-
tuition be taxed, seem to give these
gentlemen of the Democratic party a
deal Of unrest; and they claim that
your chickens, hogs, sheep, everything
in the shape Of property, is taxed,
save these bonds. Now / am in IA
vor of having these bonds taxed; and
l would like to have some Democrat
ic legislature pass law, and would
like to see some Democratic Collec-
tor attempt to collect taxes upon
these bonds. 1 think, as prscticing
lawyer of Ohio. 1 might get q fee
not from any of them-but in enjoin.
ing these fellows from doing what
they cannot legally do. They know,
just as we'll as they live, at least
those proclaim 1t publicly, that these
bonds cannot be taxed. Well, some
will say, assuming they cannot, why
did you issue such bondsf Why
didn't you subject them to taxation2
Because it was impossible to issue
bonds that would be subject to tax.
alton, unless the General Govern
ment had incorporated into the bonds,
and made it part of the contract that
they would be subject to taxation
But they go-back further and say.
Why didn't you insert it at the time
the bonds were issued, and thus bring
that species of property on an equal
ity with other property? My answer
is this: When these bonds were
issued, and the people were invited
to invest their money in them, you,
out of whose throats now comes this
cry of unequal taxation, lifted your
voices against the credit the of Gov.
ernment. You decried the bonds;
you persuaded by word and act every
man not invest in them. You SAID,
through your Vallandighams and
your Thurmans, that such bonds
would be of no value whatever, and
that whoever were silly enough to in
vest in them would be objects ofrid-
icule and laughter. To make the
bonds negotiable at that time, it was
necessary that they should be exempt
from taxation, and upon familiar
principle of law, having at that time
decried the credit Of these bonds,
you should stand estopped, and not
be permitted to say one word egainst
them. We can now wish that these
bonds were subject to taxation; but
when they were issued, you must re-
member that this Government was
standing ON the brink Of utter ruin.
II was struggling with traitors for its,
very existence; and you that now de-
cry the character of these bonds, then
to break down the credit
of the Government by preventing 1t
from procuring money to carry on
the war for the suppression of the
rebellion. Vallandigham has said in
a recent speech, that the debt of the
nation is $1,000, ,000,00 that the
treasury notes out amount to $780,
900, 900; the National Bank currency
issued and authorized IS $500, ,00O, ,O00I
more, making $3.50, ,000, 900, which
we think quite currency enough for
all the business interests of the coun-
try. But the proposition-and 1 be-
lieve it Is the favorite theory Of the
Democratic party--that this 81, ,900,-
900, 900, less the treasury notes. shall
be taken up by the issues of additional
treasury notes, so that We should
then have a circulating medium of
81, 900, ,OO0,0 900 in this country, which
would probably, according to our
present means of taking care Of cur
rency, render one dollar worth about
21 cents--a most brilliant financial
scheme, and for its realization hand
It over to the Don Quixotes that may
be left in the world. 1t is o windmill
theory, and / will allow them to fight
t out.