The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1870-06-29

crease nc voice IA heard pratin.
about a breach of the Iplighted faitl
of the nation And why? Becaus,
we did not tax incomes but only tax
ed consciences, and men did not feal
any tax which reached their con
sciences only ; and concealment of in
comes has gone on until the unclean
thing has demorilized the whole coun.
try. u "
Now, sir we are about to fund roul
debt. Suppose the body of the new
bonds. we say the income from Them
shall never in9 any&a be taxed no
man will then ever stand up and-s say
that it shall be taxed. and the world
will rely on that. With hat asser-
tion. of noH-taxatioH for any purpose
Ne can bring in. the, bonds, we have
out now and fund them in our new
bonds at fower rite Of interest but
ifyeis expect that; men Will igireI up
six per cent. bonds, which now
propose to declare are untaxable, for
four per cent. bonds. let me say you
are laboring under a grea mistake.-
Make .ap agreement that our new
bonds Shall not be taxed, hereafter,
and, as we shall keep that agreement,
you can fund Your debit E3Ei
TIE CRY OF sREPUDIATION."
Mr.. Hotchkiss-How far short of
repudiation is it to pass a law COM
polling the present bondholder to take
z1oWer price for his bonds? Y9fl
Mr. Butler, Tof NaSsachusetts-Re-
pudiation, sir How much does it
fall short of reputation? We are
then to be frightened by that word
from equal taxation; are we? Iican
QnY.repeat what l have already said,
that if any gentleman will show, me
where tina faith of tile nation has.
Eem plighted against this / will mot
press thefyote. We shall not; .repudi-
ate an agreement we have never made.
All we do by this, let US repeat again,
is to. provide a mode for collecting the
taxes fully and honestly !; that these
taxes he as are those upon our own
safaffesI that is. deducted before we
get 0ar money. af5T GI!o91.J-iH
My friend says we must not taX9the
foreigner Does, not every man know
thai every state taxes. fhe foreigner
Upon the estate which he may hold
tHefeiniPtI4s not every acre held by a
foreigner IN every istatetaxedto build
roads over which he never rides, and
to keep up schools 20 which he never
sends his children, and generally, too,
at a little higher rate than u own
citizens pay? And why is this? Be
cause it Is TO his advantage to have
goodroads and good schools, precisely
asitlistto1if advantage pro tanto,T to
shajextenh of his Investment hereI to
heye the government pay its way and
do have neyenue by which it shall go
on and pay the interest due on his Sc
clrities.
Letrme say again, aud it is not de-
MED, that there is not any country in
tic %bfH which does not tax its pub
Jtefahds3 and yet such taxation has
rzIeTerbefare been thoughteto be repu-
.diaIion, of (which we are warned if we
, do So. Ne nerer heard anything about
{ Republication init IRE a to the question
.,e tatSnqSsdtiondk 6o~hdAol2erszII 1t was
: eeerEthanghtIto be Reputation to tax
: the cooperate bonds which are equally
binding asFcontracts. nf4HfaI
.scHENCK,S Observation-Disclosures
TAXATION is ALL CLAP-TRAP.
Tho gentleman from Ohio TMr.
:Schenck says this is all clap-trap. l
beg his pardon. There are now more
than fhirtyEGxc hundred million dol
lars Of these bonds, state, city, coun-
ty,H town; and. munieipal,y not paying
any tax ;:.andif taxed "a other prop
.ertY is the taxation would be over ten
, million d6llass, five could get If all
honestly paid, al we should do'if the
.tax@as retained. T
fb,member-Five or six only
s5MraBut2er, of Massachusetts--A1y
;6risnd says five or six. say if you
could get all tie tax honestly-and 1
what / am talking about-ifI
,gou, could get. the tax of all these
! bonds honestly, it would be quite
>s10,000.0oQ; more than n half what
you propose to save in interest by
4 fupding-the debt at a lower rate of in
NGehtteaaen tell us credit is the life
aof our nation. Thank God, no! " We
>swent through the!war when We had
mot dollars credit abroad ; when the
J money leaders of u would not
take one dollar of our securities, and
Mhen the Englishmen not only did
anot take our bonds, butsplunaered our
commerce upon the high seas. We
nwere obliged to take our own bonds
byaa forced loan of legal tenders, be-
Ieaasetheicoffers of all capitalists, at
Asme as well as abroad, were shut
+agaipst The nations necessities. And
the life of the nation wa preserved
under those circumstances, and it will
De. again if need shall come. We need
no creeit. abroad. To-day 81 200, 000,-
900 of our bonds have gone to Europe
~nndsescaped all taxation, and our in
sdtstries are taxed to pay the interest.
1Hndwhen T bring this TO the atten-
tion of our ovcrtaxed people; when l
speak in favor CT taxing the bond
fhdideH q . aass OF investors, and
mkkfngt hsm honestly pay their share
of our burdens, and in favor of the
Isavings-b banks and the overburdened
4aborers.I ann told that that is clap
ItraPleoBe- it so; 1t is such ~clap-trap
;IyhaIT i've with, and l hope to God
lE3haii die with. on my lips.
a a again HlatSI am for ~lessening
ifhe burden of taxation upon the men
OF moderate means and against the
escape Of large investors from taxa-
fi6h. S7Tam Tor having everybody pay
r@-Lh