The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-09-02

| lation ana means oil wealth.. 1aklng
| into consideration this growth of our
country, Irepeat that our ordinary ex-
penses for the last fiscal year were more
economical than the expenses of Buc7
hanan's administration.
But they talkof the public debt. No
less aperson than Rufus y. Ranney, of
Cleveland, in speech at gainesville,
party with having Increased the public
debt one hundred millions since the
war, and I find the same statement
going the rounds of the Democratic pa
pers of the country. Let me here make
statement from the official record-an
official statement of the Secretary OF the
Treasury. On the Both of June, 1866,
the pn bile debt amounted to 81, 7S3, 000,-
600, On the LIST of June, 1868, it amount
ed TO 81, SIC, GOO, 600, showing a decrease
| in two wears o. S263 600. 600 During the
last year there was surplus, TO apply
on the principal of the public debt, of
S34, 900, 600. That disposes of the charge
that the Repu blican party have in
creased the debt.
Again. the Democratic party com
plain of the heavy taxation imposed on
the country by Congress-. Fellow-citi-
zens. while the war was in progress
there were three words in my political
creed. They were verbs Implying action.
They were ntax, fight and emancipate."
| Tax the DHODl9 10
and prosecute the war; tight the rebels
| To crush the rebellion emancipate the
slaves and realize the glorious doctrines
| of the Declaration Of Iudpendence.
ITReneWed applaase.1 Congress did tax
| the people. IL laid heavy burdens up
on them. But a brave, noble and gem
erons people were willing to be taxed.
They were willing 10 bear the burdens
and endure the hardships that the
country might live. Durfng the war
scarcely ANYTHING escaped taxation.
But since the war closed, the Republic
Can party has reduced the range of
taxation as rapidly as possible, or as IL
was safe for the country.
In 1866 taxation was reduced sixty
million, in 1867, forty millions more,
and by the two acts OF Fepruary ana
March 81, Congress, at It's last session,
reduced the taxation S1xty'seVen mil
lions more, making total reduction OF
taxation during the past two years OF
one hundred and sixty-seven millions
of dollars.
Again, the Democratic party proclaim
in their platform the doctrine of equal
taxation of all property according to its
true valuation. This proposition
sounds well, but II Is utterly delustve.
Consider it for moment. Suppose all
the real and personal property in this
State were to be assessed according to
It's Ndlu6 III Lu6 MAJ hcls anu LbA49A Ab a
fixed rate per cent; farms to be taxed at
the same rate of manufactured articles,
wheat at the same rate as whisky, po-
tatoes at the same rate as tobacco, bill
lizard tables and wagons placed on an
equality, billiard cues and hoes taxed
at the same rate; all articles of luxury,
in a word, TO be taxed at the same rate,
and no more than articles of every day
necessity. Who will suppose for u
moment that such a system can be &C.
ceptable to a free and intelligent peoplet
No party has ever before proposed TO
lew such a tax, and think no party
will ever dare to carry out such doc
trines in nractice. II has long been the
esta hlIshed cnstom of financiers in this
conntrv to Law the chief burdens of tax
alton on articles of luxury. and relieve
antiraIy Inc nacessaries NJ life.
rat ihe resolution in the Democratic
Mai tom To which I allude was evident.
~ lesipned 10 reach the bonds and the
5on5LnIdars Thev 6esion hv the resn
I%Iion 10 declare t6emseIyes The friends
of the peonle. as against the bondhold-
ers. and demand that all bonds shall
be subject 10 equal taxation. by State
and national authority with other pro-
perty.
Now. felIow.citizens, / do not hest.
crat knows that this part of the scheme
which Droposes taxation of the bonds
bv state authority. ia utterly imprac-
ticohla EVERY intellipent Democrat
Lnou,s that the Constitntion of the
TTnitad States forhifls such a taxation.
T. has heen eight times decided bv the
Snnrame Conf of the United States
sbat a state has No mower 10 fax the
seenrIties Of the United States. II
IveS decIded IN 1910. nv Chief .Jnstice
MarahsI It was several times 40 de-.
oiGIefl nv Chief Justice Taney. II has been
tho almost nnanimons decision of the
Surname Conrt bench. for the last half
centnry: and within the last four years,
n mas been decided not only that The
state has no power to tax bonds of the
IInitad States. but that Congress can
moi. nv legislation, confer that right
nnor, iha States.
IF the Democratic partv be- in earnest
when thew declare in taxing the bonds
hv state enthoritv whv did mt their
6hio TeoisIature mass such n law dur.
inc their late session? It was. fellow
citizens. for the simple reason that they
frpaw anch a law would he mil and
void The truth ia. thew have mt this
nlank into their platform to make capi-
faI with the neople. They snppest a
faisaLoDd W hich ihav fore mot OnenIv
advocate.
Bnt / NAV be asked whv NAV not
r1nnrasS fax tho hnnda of Tho TTnitad
SSaisS9 Tat ne exsmfna That Sues,ion
In tha first nlNce there are fomr hnn-
draS and twentv-fiye ,niIlions of the
bonds. that form The basis of the CANT
faI Gf,ba natInnal HANKS The sharas
Of these banks are taxed. both nv state
and national authOrIlv. The total
emount ,fIaxes INNS levied dnrinf, the
pasT wear amounted TO nine millions
Of dollars under State laws. and nine
millions more under Federal laws.
Thns the nationsI han maid aighTaan