The sun., 1908-03-19
Mr.. Hepburn and the stock EN-
change.

Mr.. Hepburn and the stock EN-
change.
Representative HEPBURN of Iowa Is
quoted IA emitting the subjoined eIpia-
nation Of his desire to pervert the taxing
power Of the Government TO sociological
purposes
The only sure way thSl could attack the stock
gambling was by means Of a uI through The
revenue Revenue Is power In this country and
ihe taxing plan IL the quickest as well a. the falrsst
scheme to try. have an Idea that per.
hsps could have reached the gamblers through
The Interstate Commerce law. by 50 amending that
statute that It would apply TO all transactions 10
shares of stock Of corporations doing an Interstate
business But II had attempted TO reach II
through that channel there might have been ques'
lions raised - to The Constu,lonsllty OF the pro-
ceednEs There can he none raised as to the
power Of Congress to YAK stock Ssl's. We have
done II before for Instance during the Spanish
war and We can 90 It again Just A. legally
There can be no question raised as 10
constitutionality Of tax on stock sales
II the purpose Of the tax is as II was
during the Spanish war to raise revenue
for the Government. But Mr., HEPBURN
admits that the purpose Of his bill is
not 10 raise revenue but to regulate the
business Of certain citizens whom he
describes with ostentatious irony as the
pure and lofty gentlemen connected with
the New York Stock Exchange Con-
Cerning such tax on stock sales we
have the opinion Of an earlier and greater
authority on the Constitution than Nlr.
HEPBURN:
The only question ls whether mere power 10
lSy tAIeS sad appropriate money for The common
defence aud general welfare, does Include Sll ths
other powers Of government NJ even does include
the other enumerated povers 1imitsd as the, arel
Of the national Government 30 person can an
swsr IN he anrmsuye to either part Of the Inquiry
who has hllly considered the subject The power
Of TAXATION Is but one Of multitude Of powers
belonging 10 Governments, 10 the State Govern,
meuis IS well as the national Government Would
a power to taI authorize a Stale Government 10
regulate the descent and distribution Of estates;
10 prescribe the form Of conyeyauees; 70 eStIbusb
courts OF Justice for general purposes to legISAe
respecting personal rlgbw. or N, general d0u.lnou
nj property; or to punish ell offences against 70
eiely' Would II cohhdc 10 congress the power 70
grant patent rIEh'S for Inventors 70 provide Tor
coupteTistlng ths public securities and coin. = :
OF 70 make all laws necessary and proper IN carry
into eject sll the powers given BY the couAttu
ton The Consultation I;sslt upon lu face reflles
ILy such notion 4, gives the power to tai. asa
Substantive power aud gives Others, as equally
substantive aud Independent"
The author of these comments upon
Mr. HEPBURN's opinion that there can
be no question Of the constitutionality
Of using the taxing power TO accomplish
purpose not otherwise within the
power Of Congress sat for moro than a
third OF a century on the bench of tho
Supreme Court Of the United States.
In JOSEPH SToRY's Commentaries
there is much more Of clear reasoning
on the limitation Of the use Of tho taxing
power; enough, perhaps, 10 raise in Mr.
HEPBuRS's own mind, II il is honest,
the very doubt which he now so jauntily
dismisses as impossible and this not
withstanding that decision of the Su-
preme Court which upholds the prOhibi-
tive tax on State bank circulation and
that later decision Of 1904, so remsrka-
BILE, avoiding the main question in the
case Of the oleomargarine tax.
Some day, thanks to Mr.. HEPBURN or
some other legislator, the main question
will 60 TO the Supreme Court in such
naked form, stripped Of the cloak OF
pretence Of revenue measure, that
the ultimate tribunal cannot help affirm
ing the principle that the taxing power
does not so beyond the other delegated
powers II il did the rest Of the emu
meration would be SuperAuous.