The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1867-08-29

talfeSC DemOcfatlc speech, puDllSlleu
thus far during the campaign. In
that speech Vallandigham said
that 'tmore than S2,00O,000,O0O
of our natioual debt is in bonds ex-
empt from taxation and that the
whole property of the United States
is but S1l 900, GOO, 900, and yet more
than one fifth of this entire amount
is thus exempt from taxation"
Now what are the facts ? AS we
stated in our last No. p the official
report of the Secretary of the Treas
ury shows the amount of one debt,
represented by bonds, to be only
81 67S.SO6, ,961, so. and the assessed
value of the United States to be S25,
900. 100000 while it's actual cash val
he is not less than $4,000. 0.000, 900.
Then, Mr. Vallandigham, instead of
one fifth Of the entire property Of
the people being thus exempt from
taxation in the form Of these bonds,
these figures show that less than one
twenty-sixth of it is SO exempt. But
there are other figures to be called
to the witness stand upon this sub
iect. Thurman has arrested that
5000, 100000, of these bonds are
held in Europe. Of course they
must be deducted from this non tax
paying property of the country
Then again about $400,0OO,O00 of
these same bonds are owned by the
National Banks, and deposited as
security for the redemption of their
circulation, with the United States
Treasurer. Upon these $400,OO0,-
goo, of bonds, a higher rate Of tax
es are paid by these banks and by
the shareholders therein, than upon
any other species property. Then
those S1,OC0,00O,o GOO. of those bonds
/ held in Europe and by the National
Banks. must be deducted from this
1878, ,S06, ,961 80 of non-tax paying
sf22ssty ia's so 3SsZs 68S 2BEy
erty in the county. or less than one
sixty sixth part of the entire prop
erty in the country, instead OF
more than one-fifth part, as stated
by Vallandigham.
So much for Democratic veracitJ
of the highest order upon this point
/ And the facts, If We will but take ths
trouble to ascertain them, will dwin
die all the rest of their pet bug bears
with which theyare seeking to fright
en- the people from their integrit,
in the same proportion they dwin
die the ..boalel aristocracy'' O.
which we hear so much
i But why are any of these bonds
exempt from taxation except by th'
general government?
= The mouth pieces Of Democrac,
tell us it is because of unequal ant
! ,,artiai legislation brought about BY
This bonded aristocracy and thei
satraps. the Union party, to oppres
and grind The po or and middle class
es and to build en,selves up: ant
thus they d have the uninf formed mas
Ses look upon this eAemptlan' as
Republican monstrosity, witho2t
parallel or precedent.
| What are the facts in regard tx
this exemption Is it because +:
Union Congress, in order to inform
the people who might not be famil
lar with the Constitution and decis
: ions of the Supreme Court, declared
in the acts under which these bond
: were issued that they should be thu
free from taxation? By no means
for the Supreme Court of the Unite
States, as long ago as 1919. in tn
case of McCulloch-~ VS.. the State O
p M9ryland ct al 4-h Wheaton,? 81
unanimously decided and declare
j the principal, that under the const
. tuition, States have no authority
), tax United States bonds, or san
, other means employed by the go,
ernment Of the Union for the exect
q ton of its powers although ther
+ is no such exemption, expressed i
Il the act of Congress authorizing th
j issue of such bonds, or the employ
= ment of such means.
T. To prove that this decision is jus
o ly entitled to the highest possib
It respect. it is only necessary to stat
l. that the opinion was delivered /
e, Marshall and that Story was one
N his associates and concurred in Il
ir same.
l. And to understand that both re
in son and argument were fairly e:
le hausted in the consideration Of Il
le case, it is only necessary to kno
that Webster and Pinkey were cou
y sci. Furthermore, it has so happe
D ed, and it is singular col
" cidence. that this que
ID ton has been presented to eve
ut Judge of the same court, who h
IL, been upon its bench since this deci
Is ion, and that decision has alwa
a. been confined, and never even que
M toned by one of them, Democr,
ly Republican or what not. Of the
- Judges the Democracy h4s{certai
to iy had. or at least claimed their Fl
re share. and have even lately appr
rd priated Marshall and Story, as tn
We have most Of the other great al
ly good men of the early days Of t
ly Republic.