Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1868-03-14

CT The decrease in revenue receipts for this
year will evidently fall far short of the lowest
official estimates even without considering the
exemptions promised to various interests. The
total receipts for three months of the present
fiscal year were $50, 37O, 600, against 500, Asa,
600 of the corresponding period last year, a de-
crease Of S46 065, 300, which was evidently NOT
mainly attributable 10 decrease in some rates OF
taxation under the law of last session, inasmuch
as the loss was chiefly articles on which tie
rates were maintained, as on petroleum, which
in three months paid 1886, 900, against Sl.OO4,
600 In the corresponding quarter of the preced-
ing year, and distilled spirits, which. in the
same three months, paid only $3,577, ,OOO
against So, lsl 900 for like period of the last
fiscal year. -.- a fr.. -. ..
New HAMPSHIRE ELECTIoN.-Correct
returns from 1873 towns, give Marriman,
Republican, S4,So3, Sinclair, Democrat,
31,716, As towns and small places remain
to be heard from. They are about equal
ly Republican and Democratic.
The whole vote will probably exceed
seventy-two thousand, the largest vote
ever polled in the State.
The Legislature will be largely Repub-
lican.
The Republicans elect four or five
councillors and nine or twelve senators.
They have probably about seventy ma
iority in the House.
TAXING THE GOVERNMENTS DEBrs.-The on
ly parties who have tried this policy and test
ed it were the Rebels, under Secretaries Mem
mingcr and Trenholm. When the Confedera-
CIV had issued S973, PSI, ,S63 in treasury notes,
circulating as currency, their depreciation was
such that $40 in notes were required 10 buy 81
in gold. All notes over 500 were taxed 10
per cent per month after May 2, 1864, and all
notes outstanding at the end of the year were
taxed IOO-per cent, l. e, were repudated By
this means S6+O,947,945 were forced into a
worthless per cent bond, which was offered
as substitute for the repudiated currency
But, of cour>e, everybody saw that the Gov
ernment which could tax the currency out of
existence could in the next breath tax the bond
out of existence and so this Rebel Govern
ment, which undertook to live by taxing its
own debts, died because nobody would lend to
such pack of swindlers. The Northern svmpa-
thizcrs of these Rebel repudiators believe in
running the fuances Of the Government in the
same dishonest Manner. Within few months
after the Rebels passed the above act they
could not borrow at all, and were compelled
to make ''forced loan, 4. c., to rob the bank
vaults like common highwayman, of over
TWO millions in gold. If our Governments
either State or National, should begin by tax
ing a bond one per cent, they would soon, like
the Rebel inanciers, strike homo by taxing it
ten, twenty, fifty, or hundred per cent Only
moral turpiiude or financial ignorance could
say to public creditor, II have agreed to pay
you this bond with six per cent interest, and
on the faith Of that agreement borrowed the
highest sum the bond would fetch in the mar
ket. now tax you one per cent on my debt
to you" The same degree ofturpitude would
tax the bond 100 per cent, and when the bor-
rover wanted another loan he would have to
get it as the Rebels did, by robbery ... ..