Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1848-05-26

point of absolute starvation7 What pa Of the whole
system and series of measures which have caused
the existence of the public debt has not added to
the burdens and wrong perpetually accumulated
upon the people The entire debt in our reckon
ing, owes its existence TO the expressions of tie
people by the government and aristoeracy. The
armies and navies which have held them in sub
lection. the soidiery and police which have eniorc-
ed the exactons of custom house and revenue Off
GERS the naughty nobility souless arStocracy, the
bloa;ed church. all feed and fatten patronage Of
government which borrows funds without the con-
pay them and never pays any part of them at last
Our third argument is that the people have paid
already, in the shape of interest and cost of man.
agement, more than twice the principal of the en-
tire debt. A hunnred and thirty millions year,
IN the course OF half century, amounts to a hand
some sum especially where it is required solely to
pay for the iniquity of the oppressons of previous
centuries. On some portions of this debt interest
has been paid almost hundred and fifty years.
And if interest were reckoned upon what has thus
long been extorted from the people, and that inter
est applied for the extnguishment of the debt the
debt had long ago ceased to exist. Why not be as
fierce for the payment of interest on what is extor-
ted from the poor for interest on what is borrow
ell from the rich2
Our fourth argument is the fact conceded alike
by government and government creditors. and by
the people, that the debt never can be paid All
admit this. The funding system proceeds upon it,
and is based upon it. The only question is, shall it
be repudiated, shall it forever continue TO crush
and destroy an oppressed and oyerburdened people!
Is il not enough that the toiing grooming millions
have through successive generations beenas it were
crushed TO the earth by this perpetual devourer OF
their substance. 1t produces nothing to pay the
people for all which it costs them Its hundred
and thirty millions year are additional 10 all other
public expenditures and after being paid for ages
in succession, leaves the debt every farthing as
great as before Must the impoverished and toiling
millions never find any relief from this world Of
dead weight upon their prosperity and their ener-
gles? Reputation would lessen the amount Of taxa
ton five dollars per annum, for every man, woman.
and child, i'll Great Britain and Ireland
Our fifth argument is that, sooner or later, this
debt certainly ,ciH be repudated. A people intel
lgent enough to understand their nghts,and spirited
enough to maintain them,will not ST bnt TO be flee
ced and ayed forever for what affords them nothing
but oppression and extortion weare mistaken il the
events of the present year have not impaired the
value and the security of stock in this fund, lit
tie. Two or three years more, operating as large
y in favor of the people this will render all this
description of paper evidence of dues from govern
ment about as unpopular as old continental money.
Our sixth argument might be, that the extinguish-
ment OF the debt by reputation would not destroy
arthing OF property; but, on the contrary, would
contribute largely to the increased production of
wealth. But We have already perpetrated long
article and are now willing TO hear some argu-
ment from the affirmative.