Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1867-09-20
Taxing aovernment BOndn.

The Democracy are eorely aggfieved
because United States bonds, given for
the ''sinews OF war" wherewith to crush
rhe rebellion, are exempt from taxation.
Their groans over them, and their ago
nies over q privileged class" and
bonded aristocracy" ere distressing to
contemplate. One would think from
their virtuous indignation that such
thing had never before been dpne-that
t was a heretofore uuheard-Of wicked
ness, and a monsirous uncOnstitutiOn-
ality of which the immaculate Democ-
racy had never been guilty. What are
the f8cts2 The indianapolis Journal
has been examining the record upon
his subject, and finds that between the
irst day Of August, 1870, and the nrst
day of March, 1851, more than hfty acts
we're passed by Congress authorizing
The President or Secretary Of the Treas
ury to borrow money on the credit OF
the United States, and there was not in
any one Of them q provision that the
bonds, or other evidences OF tndebted-
ness issued TO those who loaned their
money to the Government, should be
subject to State taxation.
The Democracy boast that they ruled
the country with rare intervals trom
the organization Of the Government till
they plunged it into rebellion i'm 1851
Passing over the loan acts Of the De-
mocracy in its earlier and better days
ct us see whether they did not author
ne the issue of uutaGable bonds within
the personal recollection Of many Of our
readers.
ON the ed Of July, 1876, a Democratic
L Congress passed an act authorizing a
/ loan of $4,000, 600. free of tax. by de-
cision of the Supreme Court. This was
approved by James k. Polk, Demo
cratic President. On the 2Sth Of Janu-
trv. Is47. the same Democratic Congress
passed another loan act of S23, 00,OO0s
which was approved by the same Dem
Ocratic President. States were not al
lowed to tax the bonds thus authorized.
On the 8Iat of March, 1913, q further
loan of Sl6, 900, 600, free from tax was
authorized by a Democratic Congress
and approved by the same Democratic
In Is5s. a loan Of S2O,O0O,OO0 was au-
thorizad by a Democratic Con Bress ana
anproved by James Buchanan-eEempt
from taxation
on the 22d of June, 1850, the same
President approved another loan OF
S2l, 600, 900 in bonds, free from taxation,
passed by q Democratic Congress.
on the Sth of February, 1861, thc same
President, feebly tottering to the close
Of his imbecile administration, approx
cd a loan of 81, 900, 200, authorized by
Democratic Congress, and exempt tnom
taxation.
ment credit was not shaken by gtgau-
tic rebellion, and when Government
loans might properly, il ever, have been
subjected 70 a tax. III 40 To Democrat
10 principle that Government bonds
should be taxed, why do not their acts
illustrate their principlesl Why does
their former practice give the lie TO their
loud-mouthed professions nOwf There
rs but one explanation. The Democracy
desired the rebellion TO succeed by force
of arms: falling in that, they seek some
i other crisis i'm which they hope 70 seize
the reins Of power, and establish the
principles for which the rebels tought
| and which were decided against them
/ ~ the l,svonet For this they are iu-
1 siIliousIv working TO create a financial
/ revulsion. for the ovorth brow OF the Gov
prnment credit. Let every man who
has a dollar TO lose examine their
! schemes, be fully persuaded in his own
mind and so let him net as either TO
help or hinder such q w.czedness'