The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1868-08-24

A demagogue has face of brass. Pendle-
ton has face of brass. He mouths about tax
alton of government bonds. Look at his rec
ord. In July, 1854, Mr.. Morrill, of Vermont
introduced in the House a bill for the taxation
ofincomes five per cent. This included tax
on the income of government bonds. 1t was
legal and proper. Yet Mr. Pendletoa acih all
the Democrats IN the House and Senate roted
against it. What does this mean2 In 1884 the
government needed money to carry on the
war. Mr. Morrill, proposed to raise money for
that purpose through the special tax on IN
comes. Mr.. Pendleton and his friends at that
time did not desire that the government
should have money. They did not approve OF
the war. They united against the bill.
Now, the war being over, Mr.. Pendleton and
his friends, for the purpose Of exciting HOSTILE
ty against Congress, are clamorous for an H.
legol and unconstitutional tax on the bonds.
THEY WERE FORMERLY UNWILLING TO LEVY
A LEGAL TAX TO HELP PUT DOWN THE
FIRST REBELLION, BUT THEY ARE NOW WILL
ING TO LEVY AN ILLEGAL TAX TO AID THE
NEW REBELLION. See the Maine Democratic
platform.
was authorized in 1862, motion was made in
the House of Representatives OF which MI.
Pendleton was then a member to strike out
the clause in the bill authorizing the loan
which exempts the bonds from local and State
taxation. Mr.. Pendleton opposed this amend
nent. 1t would have amounted to nothing to
be sure, because the Supreme Court decided
years ago that uEder the constitution, State
and municipal taxes cannot be levied on gov
eminent securities; but Mr.. Pendleton's cote
on that occasion shows how heartless and in
sincere are his present views on the same sub
ject.
There is but one explanation of these incon-
sstencies. Every financial proposition emana-
ting from Democratic sources has as its CEN
trail idea the imparing of the national credit.
The funding bill of last session, passed by the
Radicals opposed by the Democrats ana pock-
eted by the President, was an honest measure
for reducing the interest on the debt by hon
est means. This will not do for the Demo
Gratis. They will hear OF no measure that has
not in it some leaven of rascality which will so
tarnish the reputation of the United States as
debtor that it will never be able to borrow
another cent to pay its expenses or to support
another revolt kIf it were not for the con-
slant agitation of the various phases of repu-
diation by the Democracy, in case of another
revolt, the United States might borrow money
at three per cent. as easily as Great Britain;
certainly it would not be required to pay more
than the bankrupt government of Spain and
Italy. A f#e
The more virulent Copperheads mean 10
make secession practicable. II their schemes
are carried into effect they loM make it prac-
ticable. Fancy any sane capitalist loaning
his money to the United States TO put down
the rebellion threatened in 1868, after he has
received his pay for former loans in currency
deprecated TO 20 cents ON a dollar and that
would be less than the actual depreciation re-
sulting from the issue Of greenbaeks enough
TO pay the bondsl and receiving for his prom
ised siI per cent. interest ive-and fourteenth,
per cent. The Vance Wise Hampton Rebel,
say that the ''l0st cause" Is not lost. Seymour
aud Blair, As President and Vice President
will pat il ON the path 10 victory again. Take
this boast IN connection with the unreasonable
unsta tesmanhke and utterly ineODsistant d.
nancial propositions Of Pendieton and his iol-
lowers and you have plan for the triumph OF
secession far more segaeions than that adopted
10 1850. The masses Of the Democratic party,
Ne must admit aud are glad TO admit for the
houoI u our common humanity, do not pean
70 assist in any such tragedy. They are mis-
led BY iemAgogues, like Pendleton, Seymour
and PiIlsbury, who like Erostratus who burn
ed the temple Of Diana at EPhesus, despair Of
becoming famous unless through their inia-
nv.