Staunton vindicator and general advertiser. (Staunton, Augusta County, Va.) 1858-1860, 1859-10-21
NUMBER AZ.

Nv ~ l4Ze
lege Of putting lin to death. His whole
property is then Immediately taexn from 2
to 10 per cent Besides the probate, large
fees are demanded, for burying him in the
chancel; his virtues are; handed down to
posterity on taxed marble, and he is then
gathered to his fathers to be taxed no
| more" ..,.e IL. >. M.
Such are some of the penalties paid for
| the prosecution of war. the acquisition Of
glory, the supremacy over, the ocean, and
| the support of an. extensive court and its
favoritcs. Need we wonder. that, within
the last quarter .efa century $50 large
number. of the British people have left their
native sal, and sought new hotnes in the
United States. Canada, Australia, &c? /.
."rhs progress efitds. debtsShich at pres.
emit apphsad, aud will, ia e;long rda, pro-
baby ruia1 all the great nations of Europe,
has been pretty uniform" said Adam Smith.
Again he remarks ;.--:'When national debts
have ,onca, been accumulated to certain
degree, there is scarce, L Eelieve, a single
instance OF their having beer, fairly and COM
pletely paid. The liberation Of the public
revenue, if it has ever been brought about
at all, has always been brought about BY
bankruptcy ). ,s9metimes by an avowed one,
though freqtently BY a pretended pay
ment." . :; 81 III. j., 49,. g..
( Whea~las Pitt was Premier, he was very
solicitpus TO- provide the means of extin-
gushing the National Debt, and in 1856
introduced his favorite scheme of the Sink
ing Fund. He was ably supported by bis
distinguished contemporary. Mr.. Fox. Af;
ter protracted debate, the bill was hsssed;
and MIR. Pitt. declared ..'ssthat 40 Minister
would ever have the confidence to come
down to the House of Commons and propose
the repeat Of a measure, tie tendency of
which was to relieve the people Of their bur-
dens.'", f., i'll, ). 81
| This prediction was. however, not fulEll4
ed In 1884,, Parliament solenanly pledged
itself to keep the Sinking Fund inuiozate,
but in 1880 thesarae. body abolished the last
remnant ofthe Fund without a. division and
amidst chorus of appreciation from both
sides of the House. 1.-THE REDEMPTION of
the public debt is now, (sa5s III, AhsonJ
by common consent. regarded IS hopeless
Fortunate will tie public creditors of the
several European rat;cas be. if they continr
ne to receive principally, the interests on.
their loans The redemption of these loans
vii! never take place, unless, perhaps, in
such currency as the assignats. which werc
so profusely issued during the French Rev.
olutioh. So excessive was their issue, and
So great the depreciation W hich. resulted.
that in 1897 thet assignats. fell to the two
hundred and fitch PAT Of their, nominal
value After exhausting the resources Of
assignats and lmandats. tie French Directo-
~ acknowledged the national bankruptcy
They arbitrarily struck off two thirds of the
national debit and thereby reduced tie am
uual charge upon the treasury from 1885,
cog, 600 to 86,OO0,000. For several pre-
cedlng, years, the public ncreditors had suf-
tered 60 much in consequence of the unpar-,
alleled depreciation of the paper circulation
In which, they werespaid, that this destruc-
ton Pf,twa-thirds of their capital, when ac--
companied by the payment Of the remainder,
10 specie. was felt rather as relief than 4
misfortune
Every conscientious man recognizes Gdel-
ity in paying his debts. and pupotual COM
pliance with all his contracts, as. high and
solemn aud moral obligations. Every hon
est Government does the same, :, The power
to. defraud the, PUBLIC creditors can never
confer the right. j.. a. Government which
disregards and deliberately D.violates the
plainestt principles of jpstiasa sets PERM
cious example, which is liable 20 be quoted
as. precedent BY other Governments, an
fezampEeVtic is promptly followed by th9q,
sands Of the governed, !, In every ooantry
there is class of men whose views Of, NOR
al. obligation, are limited by law-men who
are content to be as honest only as the laws
Erequirc, end are resolved to be, as dishonest
as the lays will permit. Such persons are
little disclosed to. consult their consciences
: land obey its dictates, but they are anxious
to know how far they can 60 without incur
ring the danger of legal punishment. II
: their Government commits fraud, they
neither condemn the act or seek to repair
the wrong, but gladly, follow the example,
T. Of the enormous sums borrowed and ex-
lpended by the several Governments of Eu-
rope during the last two centuries, j how
large the amount used for the destruction Of
our race and the qualification of unckasten-
ed ambition-how small the share devoted
to the great and noble purpose Of enlighten-
ing the mind and promoting the permanent
interests of mankind. .. SULLY.
n Il IT So?-Admiral Hone. who was re-