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Gold Hill Daily News
Gold Hill, Storey County, Nevada
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Copperhead politicians advocate taxing U.S. bonds despite 1819 Supreme Court ruling and congressional law prohibiting state or municipal taxation, potentially undermining federal loan capacity and established legal principles.
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The Copperheads are making strenuous efforts to create a false sentiment on the subject of taxing U. S. bonds. So long ago as 1819, the Supreme Court of the United States decided that the bonds could not be taxed by any State or municipal organization, inasmuch as if they were allowed to do it, they might tax them so heavily that no one would take them, and the United States would not be able to negotiate a loan. Congress affirmed this decision by law passed during the last war, but even if they hadn't, the bonds could not have been taxed. Yet, in the face of these facts, Copperhead politicians are strenuously advocating the policy of imposing a system of heavy taxation on the creditors of the Government. It is a little singular to note in this connection that in all the movements of the party alluded to the effort tends directly to nullification of law or opposition to some well established principle decided by the Supreme Court.
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The Copperheads are making strenuous efforts to create a false sentiment on the subject of taxing U. S. bonds. So long ago as 1819, the Supreme Court of the United States decided that the bonds could not be taxed by any State or municipal organization, inasmuch as if they were allowed to do it, they might tax them so heavily that no one would take them, and the United States would not be able to negotiate a loan. Congress affirmed this decision by law passed during the last war, but even if they hadn't, the bonds could not have been taxed. Yet, in the face of these facts, Copperhead politicians are strenuously advocating the policy of imposing a system of heavy taxation on the creditors of the Government. It is a little singular to note in this connection that in all the movements of the party alluded to the effort tends directly to nullification of law or opposition to some well established principle decided by the Supreme Court.