Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1854-05-25
Our National Debt.

LAHttii ia NiilSto llOiit XII llilN
and all other civilized countries
both in theory and practice, as tc
fh I payment of her national debt
I herr debts are only payable at the
option of the government, and il
ne atty they never are paid but bS
national bankruptcy, or arbitrary
reductions of principal or interest
which the fund-holder is too pow
CT less to resist, or even to complaiI
of. The national debt of Great
Britain, since 1915, has been rd
selvlng round the permanent peace
maximum of eight hundred mil
liens of pounds sterling, or foul
thousand millions Of dollars, some
times above and sometimes below
hut point, bat never permanent,
decreasing the perpetual mortgage
upon the working and starving mil.
lions of herpauperized and enslavec
population. Her aristocracy never
Inlend to pay that debt. They
know it cannot be paid but by a
revolution which m ust place the
few in the hands of the many
80 long as they can raise, for tho
payment of its interest, thirty mil
lions of pounds sterling, or one hun,
dred and fifty millions of dollars, by
depriving the laborer Of half his
wa gcs, by direct and ndlreet tax
alton, they are happy because
they can ask foreigners 10 admire
the antique and stately seats Of
their nobility, crowded with the
choicest specimens OF ancient and
modern art, and filled with the fair
aud the great, Ii ing in a luxury
and cxtrav agance unknown even
10 the cileminate cnperors OF old
Rome. s
The noi@ome do ms of London
the underground md damp cellars
OF liverpool, The miserable habit
ATTIC rs of Glasgow and Birming-
nam, the q old and cheerlcss Gotta
ges Of thea gricultural laborcrS, and
tue mud novels OF Catholic Ire
land, with their wfdtched dcnizens,
are forgotten because a few hun
drc,l families enjoy all the comforts
Of an earthly existence, and COM
man the parliament and press Of a
conqu cred country, and through
them, the lives and happiness Of
nearly twenty-six million OF people.
We can therefore assume, with
perfect truth, that Great Britain
never intends, expects, hopes, or
dreams of cxtinguIshlng the inan-
-ial inetlbus, but by the waking re-
llIty of another French Revolu-
ion, in which ten years will pa,
lie wrong and tyranny of as many
hundred.
1t is our interest to avoid follow
nc the monarchical policy of Eng
and. Our government is institu-
ed for the benefit oftthe many and
lot of the few We abe bound to
protect and save the millions, not
o enrich sin gle individuals a their
.xpens Sc.
II debts are contracted from ne
they should be paid at the47
arliest possible moment; this saves
interest and diminishes the burden
f the citizen. Every dollar of
Unnecessary interest paid by the
Jational Tt easury, is a positive
ISIS to the CT tizen. II is therefore I
cardinal pI inciple Of the demo-
ratio policy to apply every dollar :
{ Treasury surplus, to the lmme-
ate paymen t of our national debt. :
We have been led to these re-
ections, by noticing a statement, d
at the administration has been il
lGcipating payments on the gov e
liabilities, out of the sur IL
US lyiag idle in the U. S. Trees q
y.
I'll
NEBRA sKA-Few persons have any III
sa of the extent Of this territory. b.
, houndarv is three thousand miles IT.