The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1868-08-07
B1DDEFoRD, ME-, FRIDAY MORNING. AUGUST Z, 1863 r..
TAXING BONDS.


There Is portion Of tho damocratic
press which openly acknowledges the hu
initiating truth that tho platform OF their
party 10 dishonest, that Il explicitly de-
lnands Of the government the robbery Of It's
creditors. But there ID another portion
which Is either very III formed or very un.
candid and some Of them even pretend
that there Is nothing In their platform in
consistent with perfect good faith.
The democratic party, the resolutions say ,
demand @equal taxation Of every species Of
property according to its real value, includ.
ing government bonds and other public SO.
curities."
Now there are Two distinct authorities
under which taxes arc laid In this country
that OF The national government and that
Of the state government. The national
government taxes trade, manufactures, bus
mess and incomes. II has nerer attempt.
cd to tax "equal!y every species ofproperty,
according 10 its real value" Such tax is
expressly forbidden by the Constitution,
which prohibits any direct taxation except
when npportioned among the states accord
ing TO population. by "direct tax" has al.
ways been understood a tax levied direct.
ly upon persons or upon property, in dis.
iinction from duties, imposts and excises.
To avoid this prohibition Congress has not
taxed property as such at all.
But The stales tax property and nothing
else, The assessments they make arc OF
the '.real value" of both real and personal
properly, rs the assessors estimate IL; and
the fundamental principle Of state taxation
10 "cqual taxation OF every species Of prop.
erty according to It's real yaluo ""
The only important exception to this
principle has always been the limitation OF
the power of the state by tho paramount
power of the nation. But this limitation
has always been jcalously enforced by the
courts OF the United Suites, in defiance OF
the "Stntes Rights" PARTY.
The state OF Maryland levied tax upon
The Branch Bank Of The United States in
Baltimore. Chief Justice Marshall decided
tho INV dead letter. A little later the
State Of Ohio deliberately attempted to tax
another branch Of the same bank out OF OK.
istence. The whole Supreme Court agreed
that the act in the stntute book wis waste
pape.
Pennuylvania was the next state TO try
the Calhoun doctrine in practise. She
undertook to tax national officers IN her
territory for their salaries. Mr.. Justice
Wayne delivered the opinion Of the whole
conrs, including Chief. Justice Tuncy, that
"ihe states are restrained by such prohibi
tions rs are implied when the exercise oi
the right of slate conflicts with The per
Iect execution Of another sovereign power
delegated to the United States. Fhat oc.
ours when taxation by a state acts upon the
instruments and ennoluments anl persons
which the United States may use and EN-
ploy as necessary and proper ineans to exc
cute their sovereign powers" 10 Peters
435.) Pennsylvania cannot. therefore, tax
the salaries Of national oilice.holders.
But South Carolina went further than
Maryl md or Pennsylvania, or Ohio, only
to get still more decided rebuff. She en-,
acted. forty years ago, for the city oi
Charleston, in very similar language, pre-
cissly whit the New York platform de-
munds; an equal tax on all kinds Of perso
nal property. 'including stocks Of the Unit.
ed States" The Supreme Court declared
the act an attack on the sovereignty Of the
United States, and therefore unconstitutioii
al and void.
FinalIyLheState Of New York, under the
government Of Hora,io Seymour, nnde a
pcrsisting and ingenious effort to evadc
this principle. For two years she contin.
ued the struggle Of cunning against the
Constitution, endeayorng first l'y tax on
the capital OF the banks, and afterwards by
a tax on IN valuation equal to tho amount
of their stock and Of their surplus earn.
iups," 10 do that indirectly which could
not be done directly. But the Supreme
Court, in successive tlecisiOns, brushed
away all the col,wel,s spun around tho con-
stitutional principl,, uni declared that the
United States could not submit to the eSer-
else of my power by state which might
be used to destroy their sovereignty.
Every other species Of properly hut tlIat
connected with the paramount powers VI
tho general government is everywhere sub
ioct to taxation, and in some State, Is hcavl:
" taxed. But there is no single legal prop.
osition which IL more dearly established
than this, that "equal taxation OF every
species Of properly, according TO Its real
value, including government bonds and
other public securities" Is unconstitutional
and impossible. =,
Yet the Democratic party solemnIy de.
mand this. They attack the Constitution,
they deny tho settled law Of the land, they
transfer tho rebellion. beaten in war, to the
field OF political finance; they revive the
extinct doctrines OF Calhoun, which It has
lust cost us half a generation of our growth
to put down.
An effort IS made to escape tho issue ny
assuming thu, the platform demands TAXA
ton by the general government, anu ny INA!
alone. Hut to do this seriously, one must
further assumc that he Is addressing ioo's.
For the platform does not say anything
about the authority which shall ievy the
taxes il demands. VIII It be said that the
Convention meant "cqual taxation ny tho
United States?"
No for the Convention hus taken pains
10 show that il meant no such thing IL
says expressly ''equal taxation OF every
species ofproperty. This phrase is ndn-
sense. if applied TO the United States.
They tax no property ut oil hut, 30 fur as
they are concerned, all property ls alike
eAeinlN. TO-. f...| co..
The only tax levied by tho general gov.
eminent which has any resemblance ut all
0fS property tax is tlIat upon incomes. IL
Is now, and has been Tor several years, lev
icd ''equally OH every species OF properly.
including government bonds," according 10
the annual income they yield. Thus the
phrase In Question Is doubly seen TO be
nonsense IL applied to the national system
oi taxation.
But applied as II 10 meant, to the present
exemption Of the bonds from the taxation
to which farlns, houses, mortgages and
railroad stocks are subject In this state and
in every state. Il las clear and consistent
ense. hmea.sthe overthrow of,he Suprsine
Court. il ,Seans the destruction OF tho
nations sovereignty. Il means The supro.
macy Of each state over the general govern.
inent. u means all that Leo fought Tor In
Virginia and Seymour In New York dur.
ing the war. II means all that We thought
Grant had ended forcvera, vicksburg and