The Goodhue volunteer. [volume] (Red Wing, Goodhue County, Minn.) 1861-1864, 1862-05-28
Give us Treasury notes for Currency but
nOTax is,ll fer Interest.

-" WI pau '1Otlc cilOItS 10 put GOWN
a wicked rebellion, we may blindly
overlook the trlc interests of the pco-
pie and lay the foundation for an aris-
tocracy Of Government bond holders,
which will lead to future reputation
and revolution. The debt incurred
viii be large, and it must b, ,represcnt
ed by promises to pay in some form,
either by bonds bearing interest or by
Treasury notes, made legal tender,
an'' supplying - Uniform currency Tor
the whole cnt!ntry. Such bonds will
divert capital from manufacturing, me-
chanlcal and commercial pursuits, di-
minish the demand for labor, and Gre
ate q scarcity Of money among the
PcopIe for years to come. 1T will be
NrSvu ;'iat ti,t bonds OF he United
States will be taken up by foreign CAPT
tai, and thus 4 large amount Of money
will find its way to this country which
would not be attracted here by indi-
lvlduat or corporate securities This
5nHy be so. But foreign capital will
bring with il a severe penalty to fasten
upon MS "al upon our children. The
annual interest mist be paid in gold
and silver. Suppose the interest on
our public debt to be one hundred and
fifty millions of dollars per annu,n, as
It probably will be at the close of the
war, all Of whicl, must be paid in
specie. Can the country stand such
an annual drain, and prosper? Gold
in all the West would be worth pre-
MUM Of ten per cent, and exchange
on New York, ,and other Eeatsern cities
for our local currency, would command
httecn per cent. Can the West pros.
per under or even endure, such state
OF things: 1t must all come out OF
the pockets Of the people, whethe,
their children have bread or not
Can they pay it? Will they endure it
But it must be paid, or we shall have
Il foreign war to compel us to pay, o.
partition our territory I, satisfy foreign
claims. Are we prepared for such 8
bitter en'l :?
Suppose all the bonds issued to de-
fray the expenses of the war, be taker
bv capitalists in our own country. Ir
such case they must, from necessit,
) concentrate III few hands, because thu
number who have money to invest il
permanent securities, compared. wit,
those who have not, is <mall-but on,
in many thousand Twenty-Five mil
tlions of people must be annually taxed
to the very limit Of endurance. to pa,
) interest to the comparatively few
The masses Of the people, having n.
y interest in the bonds, will soon com,
to look upon them and the holders a
the cause Of their oppression. Loya
citizens, the Union men of the countr,
. now say it is better that the one hun
dred and fifty thousand slave-holder
Of the South, who instigated the re
bellion, and who are now in deadl
strife against the Union, should be ex
= terminated, and their property confis
Gated, than that the government sboul'
be overthrown, the republic destroye,
and the hopes Of free people foreve
$ extingnished. So, apeopls oppresse
and cnslaved by taxation, may, i
some future day, determine to repudi
10 ate, and rid themselves of the debt il
herited from this war. They ma
plead necessity in justification, and d.
clare that they, and their posterity
were enslared to rid the country of
few shareholders, and their peculia
property, and, in turn they may choos
to rid themselves Of oemparativel
few bondnolders, and their propert
rather than endure the slavery of del
and taxation for all time to come. ~
Treasury notes, bearing no interes
= and made legal tender, viii have
uniform value in every State-th
r same in Wisconsin, and other wester
States, ~ IN New York and New En-.
land. With such currency, inatea
OF local, and in many instances, ire
Pousible, bankissaes, the people woul
oe protected against exorbitant rat,
a. OF exchange, and sare oas hxadr<
tIaH Af1N tai};:an nr s1,,3g,,., >c-ucll