North Branch democrat. [volume] (Tunkhannock, Pa.) 1854-1867, 1863-03-11

important ono agreed on Friday last, shows
that Secretary Chase has issued and has the
authority to issne the following legal tender
notes, treasury notes, bonds and certificates
of indebtedness:
First issue of legal tendor notes $50 OO0
Second ..... 50,060, 900
For payment Of the army. ..... 100000
Certificates of Indebtedness -. 10000, 100
Fractional currency. ... 100000
Bonds issued to date. ......... H5, 600
Interest bearing treasury notes
convertible into legal tender
notes at will of Mr. Chase =. 100000
Senate's amendment to confer
ence bin. 100000
Bonds authorized by conference
committee (2e and 40 years.. 300,000,O00
Total. 81, 1926 900 00C
To this may be added 100000 900 under
the bank bill, making grand total of S., l25,
100000.
The above statement we take from an ex-
change, and assume it to be correct 1t can
not be denied that these Bank Bills, Bonds
Notes, and certificates are all evidences of in
debtedness of the nation and therefore of the
toiling millions of people who pay its debts,
and should control its destinies.
We propose to make some simple calcula-
tions in arithmetic, based upon these figures
The number of inhabitants in the non-save
holding states is about 90 100000 The sum
put down above as the grand total of our in
debtedness, divided by the number of people,
shows an amount of upwards of 800, to ev-
cry man, woman and child-Democrats, mig
ger-heads, Sambos, Dinahs, Pickaninnies and
oil.
The same sum divided by the 3,5O0,000 OF
voters and taxpayers of the North, makes
the sum for each, upwards of 5000 leg
acy of debt left US by the Abolition Congress,
which has just expired 1t is safe to esti-
mate that not yer one half of the voters pay
anything more than a poll tax; having no
real estate or taxable property. This bur-
den therefore falls still more heavily upon men
Of small means and families, who are of neces-
sity, owners of the objects and consumers of
Che articles, taxed to pay this debt.
The share to be paid by the $500 tax-pay
ers of Wyoming at 5000 each, is Sl,5OO,OOO
an amount greater, by one half, than the val
uation of all the property in the County,
made taxable for State and County purposes
for the year 1868.
We repeat, the people are now paying, and
will hereafter be called upon to pay this debt ;
In the form of direct taxes, stamp duties, tar
iffs on articles used by them, or in some or
oil of the modes devised for wringng from
them their hard earned dollars. 1t does not
materially help our condition that we have
time on this debt; when it is remembered
that we are paying interest on most of it.
Thousands of individuals are ruined almost
daily by borrowing on time and paying exor-
bitant rates of interest. Nor will the fact
that these bonds and evidences of our indebt-
edness, are mostly held by people of this
country, alleviate the condition of the poor
man who, owns no bonds holds no securi
ties; but is really the debtor-the man who
owes and pays them. In the hands of their
holders, most of them are entirely exempt
from taxation contributing nothing towards
the support of the government; and by con-
solidation, becoming powerful engines for op-
preston and wrong upon the toiling, tax-pay-
ing millions.
A few years debt will create, in our midst,
menied aristocracy, compared to whose ex-
actions, the demand of " "shylock," for his
@pound of flesh" might, almost, be called hu-
mane.