The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1875-05-02

lar purpose. Unless the legislature has
power TO authorize taxation for private
purposes, no such authority exists; con-
eequentlyi no such tax can be levied, and
all law and power framed in pursuance of
such purpose are void because their fulfill
ment is impossible. Chief Justice Marshall
declared that the power to tax is also the
power to destroy but this power can be
as easily used to build up some (of course
at the expense of othersl and if the right
TO use it without restriction as to purpose
were once admitted-as there is practically
no limitation OF it when applied to some
particular purposes-it would be ready
and terrible engine of oppression. To lay
the hand of the government on the prop
erty of one persian for the purpose Of be-
Growing IL upon another; would be not
taxation, but spoliatiou. A tax being q
necessary impost taken for q public use, q
use in which all citizens are jointly in
terested, the question arises, what purposes
fall within the definition of public 1t ia
not always easy to draw the line, but it 10
easy to see that no sort of manufactures
can be constituted public purpose. al
though there may be a very paipsble bene-
6t to the community therefrom. Schools
are deemed public, but they contain no
private interest at all and the general
test is that whatever is of private owner
ship is not public purpose"
In reference to rail road bond aids,
ouaSo says, UuAC although tine
preponderance of authority is decidedly in
favor of allowing the validity of taxation in
behalf of railroads, the advocates of this
have never claimed it on any other ground
than that rail roads are a public purpose,
and that jurists who admit them to be such
hold taxation in their behalf valid, and
those who do not admit them such, hold
them to be void"
The Financier in an able commentary
aPoh the decision, says : "To investors
the significance of this decision is, that it
finally establishes definite rule of invest
ment law, that it voids their bonds distinct
ly and exclusively on account of their
character, and that it emphasizes the duty
of investors to see that they do not buy
bonds which by their nature are void from
the beginning.n
1t is important to the public also in that
it restricts somewhat that iniQuitous prac-
tice known as" Legislative jobbery," which
has become so common a nuisance, both in
the Federal and State Governments in the
last ten years. 1t puts, at least, one i'm
pediment in the way of the public plum
derers. 1t will go far, too, to assist aud
promote proper legislation, by combining it
to legitimote objects. 1t will also aid the
people, in return to a more honest and
economical system, upon which they have
determined, az the only means to preserve
our /" experiment in government" from
miserable and shameful failure. The
country has learned that there are but two
ways of obtaining values-either by crea-
ting them ourselves, or by taking them
from others and that the vast sums yearly
paraded in the treasury as an evidence of
national wealth, in fact represent only the
increased poverty of the people.
Our financial history has demonstrated
the truth announced by the great French
economist fifty years ago, that something
cannot be produced out of nothing by a
mere stroke of the wand" and that " the
best scheme of finance is to spend as little
as possible; and the best tax is always the |
lightest."