New-York tribune., 1868-09-07

honestly and fairly with all the creditors OF the Govern
ment and ut the time reduce aud equalze taxation
OF every description as much and as fast as possible IN
view Of the exigencies in which the Government
Is placed. DO not doubt that congress pos,
scsses the constitutional right to PROVIDE tDat al
bonds OF the United States, hereafter issued. should
be subject to taxation or State and municipal purposes.
But If such taxation should be authorized the Govern
ment would be compelled pay higher rate Of interest
and keep higher than 1t would II all new bonds
And it possible the interest all new bonds il taxa
BILE would necessarily be so high compel Congress
has thus far been avoided. confess have sometimes
thought u best that Congress should pass law subject
ing an bonds OF the United States hereafter ISSUED
taxation for State and municipal purposes at higher
rate than mortgages real estate. But n Is difficult 10
answer the argument against sneh policy; which
argnnent is that IL bonds taxable
under state authority that portion Of them held
taxation; and but very few Of them would ever be
represented on our assessment rolls ana tna an mat
under state authority would be lost ana perhaps more
too, blythe necessary increases OF taxes under acts o
Congress TO provide for the payment OF the higher rates
OF interest taxable bonds must draw to make the sara
low rate Of interest on our Government bonds-say
Of from to per cent, proposed by Congress Is gam
by the people OF one or two per cent on the entire uept m
by residents OF other countries by our own pe0pie
which gain would benefit all taxpayers alike The higher
United States the higher the taxes must be that tue
people have to pay on tea coffee, and all other mporea
articles by tariffs also the higher must all incone
taxes be- we'll every other tax that s imposed under
of Congress Nearly foHr hundred millions OF the
banks which are taxed authority much as
other property by the taxation Of the stock or shares s6 IN
fifteen hundred millions OF the D9sas OF Inc ano
dents OF foreign countries, which could not
be taxed under State authority, II the bonds were
subject to such taxation mortgages on real estate are
able for personal property under its laws Hence only
about one thousand millions OF such bonds
taxed taxed Uie under Sta State authority II Congress
authorized Is; and not more than onequarter o. tsat
~ fnea ho
assessment rolls in all the States OF tho Union TAX OF
two per cent ON S1GOOOOVO OF sen bonds under s au
that the people OF all the States would gain annually
by the taxation Of the bonds OF the United states under
taxation for State and municipal purposes the rate or
Interest can be reduced from one TO TWO per cent, ~
which reduction would be upon the entire debt OF the &
of S2JOOOOOOOO nda-haf per cent the people WIZ
annually I'm taxes the sum OF $32.5OoOOo:
IL will therefore be seen If the national debt be
funded at lower rate OF interest, proposed by Con-
gress tho people will annually gain difference OF
S 600 by exempting the bonds OF the United States
from taxation for State and municipal purposes. do
doubt that the Republicans In Congress VIII adopt
policy that be devised; and that they VIII
do all they for the relief Of taxpayers OF the country
consistently with the Constitution or the united states
and the Integrity OF the Government in It's dealings with
its creditors IL would certainly be extremely hazardous
cOmmit these financial questions and the honor or the
Rebels and their allies, who would have subyerted the
Government and destroyed the Union. Give them power
and professions OF loyalty Union Will cease, and
the few deluded loyal men among them have TO take
back seats The Yalandighams, Brick Pomeroys, For
rests, and Wade Hamptons Will be their ruling sprts
Republicans should remember 1t is not their fault that
Government is in debt but the fault OF their enemies
who organized the Rebellion, ana the IIlehds OF thOse
enemies in the Northern States that aided them ana en-
couraged persist IL 10 the bitter end And that
Republican party not to their Democratic adyersaros
who could find no right under the Constitution Tor
coercng sovereign States iutO submission 10 the laws
Only three Democrats in Congress voted to abolish
slavery and but one voted that way IN the Legislature OF
this state; and the virus OF slavery ls yet IN tne
Democratic party. cannot believe the people VIII DC
30 msed as TO elect to the highest oces Slth4 I'm @ ter
gift who acceptable 10 the enemies OF the Union
aud Constitution aud place party IN power % the 6ea.er e
subyered the Government and extended the confederate
Constitution every State IN the Union such an act
would be contrary to all just inerences respecting human
conduct aud disgrace our people IN the eyes OF e CIVIL
lied world If Seymour possesses satesmanlke talents
t him for the office of President he concealed them
the Union failure that the Rebel currency was as
Il Atlanta, Charleston. and Rchmond were, taken.
the war would be no nearer ended uan
m only '"T by oompromse ar after Mcclellan should be
elected President. He did not exhibit the Statesman
the an army to suppress
Rebellion and coerce the Southern saJes into sub
above technical bubbles and see that the Govern
mont lad The Inherent right OF sell and '1e re
the new horh o,y mob In July ls63hs Fourth OF July
To%e that threatened the Asse%SS me
days and weeks. while attempting 20 organize IN January
year stop the drafting soldiers for the army; and
his censures ~ the Government for Furnishing !
such dan gorOus malcOntonts Naandighaln, do |
not prove him 70 be Statesman but the contrary. H be
should o President and the Rebels should again set up
in the Southern States and
socede from The Union he would adhere 10 the doctrines
az Buchanan and declare there is authority vested in
the Government by the Constitution 70 sovereign
state" and the Rebels would on their way rejoicing
that they had gained all under bis administration they lost
by the war under Lincoln. satisfied the people will
honor the greatest soldier OF the world by cectng him
President 10 would be the gr0sses ingratude II they
should neglect TO do It, The precedent would be mourned
While patriots shall have generation, and the Rebels
would sing SONGS of Triumph that would make the Welkn
ring Grants military career. the admirable manner he
the duties OF secretary Of War; aud the extra
ordinary good he has always exhibited show he |
And predcL successful and honorable an admins
tration OF civil affairs by him ~ has achievements as
soldier have been glorious. ask your Club 20 accept
this letter Lieu OF speech. Very respectfully, yours
RANSOM BALLOON.