Democrat and sentinel. [volume] (Ebensburg, Pa.) 1853-1866, 1862-06-25


to one sixth Of everything the people possess.
No cunning and studied speeches made to
mislead and deceive can hide the naked fact
that this is the peoples debt, and that they
will have it pay. Every sixth acre of land,
every sixth OK. every sixth horse, every sixth
sheep, every sixth hog, and every sixth dol
lar. under the financial mlsmanagement
aud fraud of the party now IN power, VIII,
in one year from to day, he covered and
swallowed up by the amount Of the Govern
ment debt. Il will be equal to an interest
on every taxable substance in the land OF
sixteen and two~thirds per cent Every bu
sncss man knows that in the private trans~
actions OF lie such rate OF Interest Is
speedy prelude to individual ruin in him
who pays it: and the nation ou which such
a weight is imposed Is on the brink Of over
whelming bankruptcy. Ia this estimate it
will be seen that l have taken the figures Of
the census report as they were made when
the uurUflicd calm of peace and prosperity
gave t. property its highest value To what
extent the ravages Of war have deprecated
this value it is impossible IL calculate; but
/ that the property of the people of the Unit-d
States is to-day worth more than tWo-thIriS
If what it was one year age, wiri not bc pre-
teude. and to the extent "a that ,precia~
ton IS the pTopO. ton wh ch the pubic
/ debt bears to it increased.
/ But again. By the ceasus report from
/ which ! have just quoted we find that the
population of the United States in the year
( 1SCO was little more than thirty millions.
( OF this population about five millions are
( voters. \ moments calculation III tie
simplest rules Of arithmetic shows that each
iuriyidual voter OF these five millions Is in
. debt to-day 500 on account oi his proper
ton of the annual expenses and that one
/ year hence hc will be III debt ! 100 on tine
. same account.
The liability of my own great State Of
. IuIiaua. according u the rule Of taxation
I with has been enacted against her by the
! present Congress will be 500 600 600. of
which enormous sun, the people Uf the dis
trict which / have the honor u represent
. will stand charged with methiDg over
twelve miilicUs If dollars.
Where, sir. IN all the dreaTy history Of
. rrodig gate nations were ever such burdens as
these imposed on the shoulders nf any peo-
pie III 50 short time The mourning
/ children of Israel, Captives in the brick yards
! oi E-ypt, were scarcely more slaves To thelr
/ Egyti masters than the American pcup,t
will be TO the constant demands and eXac-
tiups of the national debt. 1t will come
upon them like the lean and hungry kline
rlssfIg from the river OF Pharol's dream to
devour lie well favored and fat iieshed cat>
tie of all the land. Tell me not Cf the bless
iugs of a public debt. That cry i simply
the cheat and falschuoi by which men vino
have abu,e,l their authority seek tl cover up
I the uutrages which they have IuE.ct,d cn a
cuuf,!iug people 1t Is as old. too. a. crime
IN high places, or the principles OF base
curdity Iu the heart of man. The Paara-
sees of Jrru.acm over their huaTjgd gains
/ Ihe kings Babylun on their C0uCheS ui gold
Alexander a. his gorgeous hanqUctS. tie
. Sultan iu the midst Of his s.fi dailIaucos uj
exl eusivc love, corrupt CtigUiina'e Roman
. senators IN their villas OF marble u.aguIti
. cauce the B urDous of France surrounded hy
I the Spi,udorS of the Tullerie>. the Stuarts OF
England cliuGIug to the maXims Of kingcrait
lustfu tyrants, debauched princes, and dis
honest Statesmen nf all ages and every cline
have all talked wisely and profoundly of tie
sweets and comforts which Hrw 10 the peo
ple from that fountain OF bitter watrrs--C
gy-rut public dcbf. 1t tLcy can convince tn,
people that this monstrous heresv Is right
then all check aLG re- traiut ou extravaganza
and waSteful indulgence n once are with
drawn. and avaricc and corruption are lei
free to prey with UnbTclrG license on tin
] substance Of the nation. IL IS ID rmiug. sir
that this falal doctrine Is found creeping int
the Gebates of the American Congress. Ha
it come to this? Has this great nation. $
{ famed for its wealth and l,eeunIary re~pouSl
% bilitv. been driven soon t. seek refuge II
the mischevious princil.le that 1t X a nation
; al benefit TO be sunk in Indebtness 1t be
+, comes the people, before 1t Is too late. t
arouse themselves against this haletIl dogm
L of despotism. an prove to the world tha
they are worthy Of the freedom which the
e as vet possess. Let them >eek wisdom an
: warning on this vital subject in the teacl
J. iucs of that great founder % American Dc
IL mucracy. Thomas jefferson. DIscuSSi n
r. this question. 1918, he said:
a At the time we We're funding Our na
t tional tebt. we heard much ab"ut = publ
e debt. being-a public blessing : that tie stoc
Il representing it was a CTcafi ~ Of active cap
V tai for the ailmcnt Of commerce. manufa'
l. lures and agriculture. This paradox y;
~ well adapted 10 the minds Of believers
Il dIcams. and the gulis Of that size entert
~ bona tide into it.
1t =. We are warranted, then. in afimT
p that this parody on the principle # publ
r debt. being a public blessing and It's NUT
IT ton into the blessing of private instead pa
Ut lie debt. Is as ridiculous, As the origin
y principle itself"
4 And again. in a letter to Albert Galafi
- this profound statesman and political Pi
- losopher says:
= :. Bat if tie debt should once more
- swellei to a formidable size, its entire d
~ charge will be dispaired of, and we shall
= committed to the English career Of debt, c.
ruption. rottenness, closing with revoluti,
I;c The discharge Of the debt. therefore, is Wit
l,o to the destinies Of our Government, and
m haugs on Mr.. Madison and yourself alon'