Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1877-10-17
NUTS FOR carENeAcKEHs.

ihehu Sit'HCi, anu pIopiiCto1 " oil
extensive pillow mandatory of Kan
sas, being in this State and happen
ing to hear Sam Cary deliver his
greenback piece in one of our cities,
called meeting the following even
ing, and there made speech in ref
utation of the Utopian greenbacl
doctrine. So exhaustive and able
was Mr. Nichols argument that it
attracted general attention, ard led
the Republican Central Committee
to arrange to have him address the
people at different points On Oct.
9th he spoke at Madison, and from
the State Journal we gather few of
his strong points for the benefit of
our readers
Mr.. Nichol, it seems tc us, takes
the sand from under the greenback-
ers at every point. He shows: LIST,
that there is no warrant for the
charge that our financial system is
the result Of corruption in the in
terests of capitalists ID, that the
exemption of U. S. Bonds from tax
alton is not only constitutionally le-
gal and proper, but absolutely neceS-
6ary for the safety of the govern
ment; Sd, that the provision MAX
ing import duties payable in coin
is wise and equitable 18th, that
there has been no material contrac-
ton of the currency, and that the
volume at present is nearly twice as
great as before the war, per capita :
9TH, that the "hard times" is not
owing to contraction, or scarcity of
currency 9th, that the payments Of
government bonds in anything but
coin was never contemplated by any
act of Congress, and would be at |
varience with all prcceden,s of the
country, and utterly impracticable
9TH, that the National Banks system
is not the fraud and evil claimed, but
to certain extent wise and bene-
fetal. Read the arguments in de.
Tense of these propositions:
OUR FINANCIAL SYSTEM THE RESULT OF cor
KuPfIoN.
This mon,trous charge is completely rcfut
Cd II, ~ the list"ly of the legislation itself All
the material features of our Gnaucial system
acted during tic war, were recommended by
Mr. Lincoln and his cabinet that there is no
evidence that any improper Influence wnS |
brought 10 bear on any of these great men !
then character rcilItcs the charge aud the his |
tory al The time rnhclmiugly confirms the
wlutalion. topiou> extracts from Mr. Lmco'n'S
Official message 10 Congress were read, showing !
Thai he not only recommended The enactment
of the very laws that were passed but thai he
commended after they went into effect rs wise
and judclous. The ialiacy that all boud-hO d. !
crs aud other public creditors are public enc
mics, was considered. Here again ii was shown
from hi>tolS-Mr. Lncom's official statements
being the principal witucss-tlat it was the
loNa' people OF the country that furnished the
TAXATION OF BONDS,
The question Of taxation of bonds was taken
up and The silly charge that the Republican
party has "Cruatcd an maNcd bond holding
was denied and shown to have lts
root IN the ignorance Of the men who make it.
L, s. bond, never have been taxed They
are and always have been, cNcmpt. statuory
provision for exemption not even Icing ncccs.
salY, The supreme Cougt decided many Years
ago-Whcn Marshall was Chief Juslcc-lht
l.. :. securities were exempt from taxation I'm.
der the Constitution; that their taxation is re-.
Pu4uant 10 the Constitution. The principle is
That the State cannot be allowed to exercise a
power that could be used 10 cmbarrass the
General Government i'm the exercise OF any of
Its powers. The Supreme Cont cannol be,
riurr directly or indirectly, subjected To the
control of the subordinate Government If
bonds could he taxed by state or muuInipal J.
authority they might be- 50 heavily taxed a> to
prevent their sale and thus it would hr in the
power state or municipal Government to de-
feat the purposes of the general Governments
In respect lo MS question all our later lcgI>a.
ton hn, only been in harmony with The rules
OF the Government, the decisions Of the courts
and the principles OF the constitution which all
officers are sworn 10 protect
or DUTIES PAYABLEI Is COIN.
II Is charged that duties are payable uu'yin coin
and that this dcprecatcs our grrruhlck,. But
this, too. has been the law and the practice of
the Government since 1889. Duties were ALWAYS
collected lin coin or it's equivalents" oar
"dcmand notes. during The war were taken
for import duties because they we've PAYABLE
on demand I'm coin. To take ircdc,inablr
grrcuhacks for duties would have driven NH
The coin out of HE country, and left the GOV.
eminent no means of obtaining CON for the dis
charge of obligation already contracted To be
paid in coin. 1t would also have seriously
damaged cur foreign commerce, the exchange
Of which must necessarily hc made II, coin
and Estimated IN cn.n NuLMn. Inl. rLlL-.n