The Republican. [volume] (Oakland, Md.) 1877-current, 1886-03-27


provement companies, or the state
tax now levied, or which may here |
after be levied to pay off the public
debt, to any other purpose until the
interest and debt are fully paid. or
the sinking fund shall be equal to the
amount of the outstanding debt"
Now, the Act of 1870, chapter
442, contracted a dent of one hun
dred thousand dollars, and, follow
ing the requirements ofthe Constltu-
ton, a special tax of one-fourth OF one
per cent was laid on every one hun
bred dollars worth of the taxable
property of the state to pay the in
terest and to create fund to pay the
principal, This act required sepa-
rate and distinct account of said tax
to be kept, and the proceeds Thereof
were pledged to the payment of the
interest and principal. After the
payment of the interest the balance
was required to be invested in Mary
land and United States bonds.
This tax of one fourth of one per
cent, taking the average assessable
basis at S475, 900, GOO, yielded annually
revenue of ,S75, and after the
payment of the interest there re-
manned $3.50 every year to be de-
voted to the principal, amounting in
fifteen years 20 $751; which if in
vested as required by law, the inter-
est, at three per cent. only, would
have amounted to over $4,000; so
that if the Constitution and law had
been obeyed, there would be in the
treasury more than enough to pay
this debt. If the money, or its equiv
alent in Maryland or United States
bonds, is not in the treasury to pay
this 100000, then some treasury Off
Ger or officers have not performed his
or their duty. and have taken, con-
trary to law, the peoples money
which the Constitution dedicated to
the payment of this debt, and have
spent it for other purposes. If this
is the case, the people should know
who these officers are, and their Off
cial bonds should be made respon-
sibIe.
A sufficient amount of money has
been collected, which is appropriated
to any other purpose until the inter-
est and debt are fully paid.
This is the language of the Consti-
tuition, and it is useless to tell you
that an act of the legislature in con-
travention of its plain mandates is no
protection to the officers of the treas
ury.
l have said that the people will not
quietly submit to being taxed to pay
this debt the second time. They are
not without remedy. They can APP
ply to the courts, and compel their
servants, by mandamus, to perform
their duty in this respect. And you
can rest assured that application in
behalf of the over-burdened tax-pay-
ers will be made to the courts to have
the money once paid by them prop
erly applied. and they shall know
whether or not our constitution is a
dead letter. If the Institution and
law have been obeyed and the money
is in the treasury, why not properly
apply it and pay the debt? Is it de-
sirable to keep it in banks fer them
to make a profit out of it? And is it
necessary to have an overlooking
treasury to foster extravaganceS and
invite speculations and jobs?
One of the cardinal principles of the
party to which you and l both belong
is economy and strict accountability
and must il be said that in Maryland
where the Democratic party has had
undisputed control for twenty years
that "a policy which disregards the
constitution, misappropriates thepub'
lie money and fastens upon the peo'
pie for all time to come the burden o.
debt, is to be pursued. in order that
waste, extravaganza and non account.
ability may haye full sway? /, as {
citizen and tax payers, protest against
it. Yours, most respectfully,
III. II. KEEDY.