The North-Carolina standard., 1848-07-19
- THE WAR ,DEBp IS TO BE PAID.

pU ;nvite the attention of readers to the fol-
w. rcport of Col. Reid'si remarks at Marion, in
'.;an to the war debt. His facts and figures may
T1;od upon. They blow all Mr.. Manly's mere
..ertOns sky high. ...... ....s 4. ... 81 sz...r
the debate at Marion, Mcdowell County, on
III Doth of June, in aluding to the war debt, Mr..
me said, his Competitor Mr. Manly had during the
Hw time after time, told the people that the war
aI nond not be paid without resorting to direct
d;on: but he, Mr.. Reid, believed it would be paid
ihout resorting to direct taxation. At any rate,
Oh ~ neopIe desired to avoid direct taxation, it was
Il their true policy to place Mr. Manly and his par
p p; mower, for they declare there is way to pay
y debt without direct taxation, and if they come
to power, as honest men they certainly would be
L~nd to resort to that mode which they assert
he the only one by which the debt be paid.
Trt the Democratic party maintain and believe that
Ie debt be paid without direct tax, and II they
~cped are bound to try every other MEANS He
A J Mr.. Manly condemned the vote he gave to i'm
se moderate tax tea and coffee during the war;
tuithstandng Mr.. Manly insisted that direct taxa
fou would be necessary to pay the debt Now, said
Wr Reid, according to Mr.. Manly's own argument
5e preers direct taxation to duty tea and coffee
He (AIr. Reid) would rather pay duty on tea and
fee than to direct taxation, and he believed
be people preferred it. 1t would certainly be more
convenient for them than have the officers of the Fed
sl Government to go to their houses and collect d-
ret taxes. Mr.. Reid said he voted to impose duty
an tea and coffee during the war to endeaVor pos
,ible to maintain the credit of the Government and
70 avoid direct taxation, while we were engaged In
foreign war. Mr.. Manly says he is opposed to
nty on tea and coffee, because these articles are
ecessares of life, and that the poor man drinks as
uny cups of coffee for his breakfast the rich man.
mis-, said Mr.. Reid may be true, but it is equally
me that it takes much sugar to sweeten the poor
mans coffee-it takes much salt to season his
meat-aS much leather to make him pair of shoes
-as much cloth to make him shirt-and as much
Dowder load his rifle, and yet duty is paid all
Of these necessaries and upon many others, and Il
much higher duty was levied on them under the ta-
riff of 1912 than under the present tariff, but Mr..
Manly and his party were opposed to reducing the
duty on these necesSarles. And why was IT so !
Because duty tea and coffee did not in the
of protection enable class to exercise the exclu-
sre privilege of taxing another.
Mr.. Reid said that Mr.. Manly had asserted through
cut the canvass that the war debt amounted to one
hundred and fifty millions of dollars and that his
assertion was based upon estimates submitted to
Congress by both political parties, and when called
upon to produce these estimates he offered speech
made by Mr.. Niles, and this very speech, which is
the only document he has offered to prove that the
war debt is hundred and fifty millions, only makes
il about one half that amount. After Mr. Niles had
stretched it all he could, he makes the debt, in
Huding the amount to be paid under the Treaty, for
bounty land scrip, pensions, &C., eighty millions,
but Mr.. Manly takes the same statement as guide,
md makes it one hundred and fifty millions! This
must account for the discrepancy between Mr. Maj
rs statement and that made by Mr.. Stanly Gin his
rply to Mr.. Reid at Washington) when that gentle
said that North Cardinals part of the war debt
vas then three millions, while Mr.. Manly at the
ame time stating at six millions! And Mr.. Stanly
ad they made their estimates together.
Mr.. Reid said he would now show that Mr.. Man.
Tvs statement that the war debt was one hundred and
fifty millions incorrect, upon statements which
he had made out, not based upon speech of MEM
ba of Congress, but from facts taken from the Re-
port of the Secretary of the Treasury and other pub
lie documents, and upon plain and ndisputabe facts.
He said he would also show that the waFaeht could
be paid off without resorting to direct taxation. In
simating the receipts and expenditures absolute
certainty impossible, but he thought his esti-
mates sufficiently liberal to justify him in saying
TINT the receipts would be likely to overrun his
simates as the expenditures. He then proceeded
q follows:
Total amount of expenditures includ-
ing the amt. expended on account ...t
of the war for the fiscal year, end
ing June 80, 1917 $59, ,45l ,I77
The Report of the Secretary of the
Treasury, shows the whole debt in
CURED since the commencement of
the war to the Ist December, 1847,
to be 1927 $40, ,s59
Estimate of expenditures during the
fiscal year ending June 80, 1913 $59,6l5,66O
Estimated receipts for the
same follows:
Fpm Customs, $31 100000
Yale of Public Lands, 3,5OO,OOO
Miscellaneous sources, 100000
$34 10000 1884 4,9OO,O
Laving the debt for the year ending
Goth June, 1913 $23,7l5,66O
Id to this the amount of the war .--
debt, due on the Ist December, AT S27, 7,s7O,s59
Which leaves the actual war debt, on
June 30, 1913 $5l ,5S5,519
70 this add the sum to be paid under
the Treaty-though it cannot prop
ely be considered part of the 1car
ajl,-the sum of s15,OOO,OOO
Also add for the amount to be paid
citizens of the United States, for
claims against Mexico, &c. (Which
not war debit $4,000, 900
ST, ,5s5, $40
taamating the population of the Uni --....
ted States, at % millions, this debt
would be about $34 to each person;
aud If it be paid in 20 years, allow
II Ing nothing for the increase of popu-
aaon, it would be to each person
Is cents per year! If paid off in n
M years, it would be cents per ..-...
!ear for each person. This Is ex--
elusive of interest. But there is a 81
public debt tcontractedby the Whig
Congress before this Administration
ame into power, and before this
Var commenced, amounting to the
sum of $4,000, 900
a amount of debt contracted be-
~e and since the the war, $oo,5oo,3I9
H. Reid would not only tell his COM
Eeator how the debt could be
X Pad but he would tell him how
zoe whole public debt, that part con-
aacted before, as well as since the
A. Eaf, could he maid 1DiEhOtt TeSOTtiTJg