Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1868-05-01
Relief from Tsxation-The Nations
Finances.

Hon. Sidney Perham made an exccllen
speech on the above topics, in Committee o
the Whole. on tho 2ist. OF March. which
should be laid before all bis constituents
Ii is asensihle. IRA stical view. which vii
commend itself 10 ;be good sense oi all.
lie considers the foliowinG points How
TO tighten the burdens OF taNAIion--to g.
lablish the National cr,,lit. to give a cur
rency that shall be eqaal to gold, TO lower
the rates OF interest. and to provide for lhe
payment OF the National debt.
lie thinks the discussion OF intricate,
financial questions. oy urcn who rroie-, to
comprehend the whole subject with maihi-
mai ical CT r,sinly, has onl, resulted in Con
fusion worse conlounded." He vindivates the
course OF Congress ia exemptms Govern
ment bonds from taxation. under the cir.
cun,stanecs Of q war and depressed public
credit. and argues that we are solemnly
bound not To repudiatc our faith IA regs NJ
TO them-bu, h. favors ipnling the debt a.
soon rs practicable. OIL more favorable terms
and lower rates OF interest.
He considers The question as TO whether
the 5 20 bonds shall Ice PAID in gold or
currency as uDwisely thrust upon Us. al an
inoppotune time. Upon this topic. We
quote has language; 1t Is getting UP a
controversy on question thai. II We let il
alone, wonld settle itself in few yeais.-
We have neither the coin nor the currency
with which 10 pay. And vet We are work
log ourselves into high state OF excite ncni
about how uc shall do What sc have 10
prospect OF doing. while ;hc cause OF diyi.
sion exists. 4 oar legislation shall be wise
We wib resume sTecie payment a. soon a.
We shall be- able to pay enough Of the deb;
to make this subject OF any great imv-oTtIzre.
and thus settle qscstiOn tkaI sever BAD
Any occasion to- rEisteDce. J. seeGas 10 me
tstS Il !, me- o--tsr- % uaiie :. Cur efforts
70 I'D - saos.esl Ard no.; p-aeiirAble
v-y - s.s-ssi specie basis. aad then il
uid make no diiyreace whether We paw
coin Or Currency"
Whatever may be tbe stIis legal con
,iruction OF the several acts under which the
i've tWentics have been issurd-and | do
not propose 10 discuss that sgbjrc. no~-it
Is undcnitble that those who purchased the
bonds. had good rrason to expect that when
the principal should be pa Il. II would be 10
gold OF It's equivalent When the acts refer
ed 10 were passed, II was generally expect
ed that before they could be paid. our cur
rency would be equal TO coin. The Gov
eminent allowed rs agents. through whom
large portion OF the loan was made. 10 al
veItise 10 the world that the principle Of the
bonds would be paid in gold Two As,is.
tani Secretaries OF the Teasu-y, Mcssrs.
llaHing ton and Field. declared at diiferep,
times. IN answer to in Iuirivs on the subject.
that these bonds would be paid IN coin. !
submit that in view OF the tact, have sta
ted. and tic Importance OF our national
srod', 1t "ould be- exceeding, unwtse 70
declare IN iaNor Of paying ,ur bonds in dc.
prrciatvd currency. bat that by wise fnan.
cial policy tending to~srI a gold basis. W,
declare 10 all the world that Tue time j. not
distant when We will be able to meet all m.
demands against tie Government. in gold
or paper money. - our creditors may dc.
sire This is The best method OF settling .
question The agitation Of which has. in my
Judgment. only served 10 weaken che con.
hdcnce OF this country aud Europe in our
securities
Mr.. Pcrbam contends strongly for relict
from taxation, and present, figure. and data
TO show that an honest and efficient enforce.
msnt Of the laws would al tie yrcScn, rat,
OF taxation. upon distilled spirits. irrmen.
led liquors, tobacco and its manufacturers.
With The other resources Of government
afford sum amply Sufficient to meet al
contingencies and Lave very considcrAll,
sum to he applied to the reduction Of lh,
deb'-ccrt-inly ~ much a. ousL, 10 Toe pal.
nov lie shows the evil OF a depression o
the shiP. building interest 10 the country
AMI especial, to has own Consres,iora
D','ri.f. and argue, with grcarr,a,on Tor
drawback on all imported arii.l,s cn,crin.
into The construction Of vessels. aud for
repeal u all other taxes that eularrass ther
building ami sailing.
Impeachment.