The Democratic pioneer. [volume] (Upper Sandusky, Ohio) 1845-1853, 1848-12-29


e lsldent. N.% .M .
But the Bank vas but one branch c
, The new system A public debt Of NOR
b than Sl20, coo COZ. exists, and 1t 10 not I
i be disguised that many Of the authors Q
The system did not regard It's payment es
. senlial 10 the public prosperity bnt look
3 ed upon its continuance as no naliona
! evil. Whilst the debt existed, il furnish
ca aliment to the National Bank and ren
Z dered Increased taxation necessary Il
The amount Of interest exceeding 81 ,00G
{ 600 annually.
This operated IN harmony with the new
J system which was a high protective tariff
This was to afford bounties to favored
classes and particular pursuits at the ex
pense o. all others. A proposition to tar
the whole people for the purpose of en-
ricLipg few was too monstruus to be
openly made. Ihe scheme was thereto re
made, under the plausible but delu.ive
pretext of a measure TO protect home
industry and many of our people were
for time, led to believe that tax which
in the main, fell upon labor was benefit
to the iaborer who paid it. This branch
Of the system sinvolves a partnership be.
tween the government and the favored
classcs-the former receiving the pro.
ceeds cf the tax imposed on articles i'm
ported, and the latter the increased price,
ofsinllar articles produceda, home caused
by such tax. IL is obvious that the por-
ton to be received by the favored would
as general rule be Increased in proper,
tion to the increase ofthe rates Of tax i'm
posed, and diminish as they were reduc
ed to the revenue standard required by
the wants Of Governmenl.
The rates require TO produce sufi :
clent revenue Of ordinary expenses of
government, for necessary purpose, were
not likely TO give tie private partners in
this scheme profits sufficient to satisfy
'heir cupidityi and heote a variety of cx
pedients and pretexls were resorted to
for the pupose Of enarsing the expendi.
lures and thereby creating necessity for
keeping up high protective tariff The
effect Of this policy was to interpose ars
'ihclai restrictions upon the natural
course Of the business and trade Of the
country, aud to advance The interests OF
large capitalists and mou"pnlists at the
expense Of a great mass Of the people
who W ere taxed TO increase their wealth.
Another branch of this system was a
comprehensive scheme of internal inn
provements, capable Of indeininite en-
largement,and sufficient TO swallow up
as many millions annually, as could be
exscted from the foreign commerce OF
The country. This was a CONVENIENT and
necessary adjunct of the protective tar.
lff. IL was to be the great absorber OF
any surplus, which might, al any time
II ccumulale in the treasury aud of the
taxes levied on the people, not for nee.
cessary revenue purposes, but for the a
vowed object of afordins protection to
the favored class.
Auxiliary to the same end. If it was
not an essential part of the system itself.
W as the scheme, which, at later period
ob aimed, for distributing the proceeds OF
the sales of the public lauds among the
states. Other expedieuts were devised
10 take the money out OF the treasury
aud to prevent its coming from any other
source than protective tariff. Tue au
thors and supporters Of the system were
the advocates of the largest expenditures
whether for necessary or useful purpo-
ses, or not, because the larger the expen
diture, the greater was the pretext for
high taxes in form of protective duties.
These several measures were sustained
by popular names and plausible arguments
by which the thousands were delud ed.-
bank was represented 10 be an indIs-
pensable fiscal agent for the government;
was to equalize exchanges, and to regu
late and furnish sound currency, always
anu every WneTe OF UNIFORM Value. lie
Protective Tariff was to give employ
ment TO american labor at advanced
prices, was to protect home industry,
and furnish a steady market for the farm.
er. Internal improvements were to bring
trade to every mans neighborhood, and
enhance the value of every mans proper
ty. Distribution Of the land money was
to enrich the States-fuish Their public
works plan, schools throughout their bor-
ders, and relieve them from taxation; but
the fact that for every dollar taken out
of the treasury for these objects, much
larger sum was transferred from the pock
els Of the people TO the favored classes,
was continually concealed, and, as was
also the tendency, il not the ultimate de
sign ofthe system, to build up an aris.
tocfacy of wealth 10 control the masses
Of society, and monopolize the political
II al