The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-08-04

ernment-kuects Oh "hh-SoNerh-
uent MiseducaIiOB - Breakers
Ahead-.whnt shall We Do To he
Savedf"
WHITE SULPHUR SPRINGS,
July 81, 1877.
The Inteltigencer draws AN unwarrsnt-
Cd inference from my letter in explsns.
lion of the present troubles when it says,
"he Mr.. MotiettJ does not seem to be
aware tina. the securities issued by the
yovernu.aLt never were liable to taxa
ton" knew that the Mexican
war bonds were not taxed, nor
were the few issued prior to that time; but
the amounts were comparatively SO small
and the debt so soon extinguished rs to
hardly excite comment But the case is
d derent now, rs the amount OF money
now invested III government bonds
comprises the bulk OF capital IN this
country, and it becomes question OF no
little Importance to the great mas, OF the
people whether the burthen OF taxation
shall be removed from capital aid I'm
p,sea upon labor. 1t Is this condition
which excites pubic attention and brings
with it corresponding indignation.
did not question the motive OF the
government nor doubt The necessity for
this exemption. Yet the fact remains
that it was the prime cause of that dis
satisfaction and restlessness on the part
of the lsboring classes which has led to
such extreme results. l am grstihed that
s'ter lsbored attempt to combat that
point, the InteLligenesr was forced to ad-
NIT that it did have Sonsething-however
little in its estlmation-to do in bringing
bout the present calamity. The Intett'-
osncer says: alt has had very little to do
with our difficulties except Ms demaGogues
b I'VE stirred up and prejudiced the public
rnlnd in regard to it by gross misrepre-
sensations" 1t may be argued with
equal fairness that the acorn has very
little TO do with making the monster
oak; that its growth is dependent upon
the condition of the soil from which it
springs, the climate in which it Is grown,
the rain and the sunshine-sll OF which
il true, yet the germ was i'll the acorn.
Debt. the destruction OF property
py the war and over-produc-
ton, all have contributed
70 disorgsnize society, yet the germ is to
be found in that policy of the govern
ment under Republican administration
which has exempted capital from taxa
ton and made the burtheu correspond
iagly heavier upon the muscle of the
land. That is the PLAIN truth, simple
fact, and no amount OF sophistry can
glaze it over.
The Supreme Court of the United
States, through Chief Justice Marshall,
decided that government property could
no. be taxed by any power interior to the
general government, yet who will claim
that the bonds OF the government in the
h,ads OF its creditors are any more the
property OF the government, or in equity
or by any rule OF public policy, to be ex.
-mpted from taxation, than money IN.
vested in individual or corporation
b)nds2
The several acts of Congress author
izing the issues of United States bonds
specifically provide for their exemption
from national, state and municipal taxa.
ton. From the care with which this
provision was inserted in each act
authorizing an issue of bonds, it would
seem that Congress did not stop
10 think that in their very
nsture government bond could
not be taxed by any other
Dover than that of the
Federal government. An astute law
YER was endeavoring to explain away
$ certain statute law before ALDERMAN
Judge, when HIS Aonor cut short the ar
gument with the pertinent inquiry: at
that is not the law what did they put it
in the book for?" Ii Congress did not
exempt the bonds from taxation why
does the act say sol Congress had the
poper 10 exempt and the poaoer 10 impose
tlration upon the bonds, and challenge
successful contradiction to that state
ment. Under the mani pulations OF
brokers Congress exempted the bonds,
and here WAS the source of the numerous
difficulties now surrounding US. The is
sle of the bonds with the exemption
provision, the change OF the law In refer
ence TO the hve-twenty bonds so IS TO
make them payable in specie, and the de-
monetizstion of silver So rs to make all
OF them payable IN gold, all of this legls-
lation was in the interest OF capital and
unjust TO the laboring classes. There is
NO demsgoguery in this statement, but
the honest truth, and one that the bond
b ,lders cannot controvert.
Why should the bondhoder have his
property exempted from taxation
and the same privilege denied
the soldier who risked his
] 70 III uClcuCS Vi TIC NpbliNl y OhN iOnHON
his money to the government and re-
eelved q fair interest tor it payable in
yold-the other gave his blood and re-
Caves nothing in return, and yet the
IstelLiqeAcer and the advocates of the
financial policy of the government clsIm
that the bondholders are not privileged
c Ass. "Society naturally combines for
protection against its suspected foes, says
the Intelli0encer. SO it does. And
American society suspecting that the
great corporations and money rings are
+ greatest foes, are combining against
them. The tendency of democratic In
sttutions is to germ and develope ex.
treme selfshness, and correspondingly
Induce q disregard of community or
public rights, as well s. private. Hence
tue rapid accumulation of wealth in the
hands Of the cunning, INSCRIPTIONS and
inquisitive few. Hence the overshadsw-
Jog growth and absolute domination of
those lmperiun. IN imperio masters of