Sioux City register. [volume] (Sioux City, Iowa) 1858-1871, 1864-01-23
HOW SHALL THE DEBT hE PAID I

ing the rebellion. and how shalI this vast
sum be raised7 Shall it be BY grinding
and interminabls taxstion I Shall we
seod the tax collector 10 take The utter
most fartbing from the poor wid Nv, whose
husband aud sons have laid down their
lives in defense Of our republican institu.
tions-pouring ous their blood opou South.
ern battle. fields )?
Or, shall we take VIE battle. fields from
the possession Of the proud and lordly
monopolists, whose treason brought the
war, with all it's expense and treasure,
! upon the country? Aristocracy, land
monopoly and slavery were the true cause
Of the war. lie. them all together be
compelled to pay the expense. Let the
widows and orphans and wounded sold.
iers among US be first pensioned and be
provided for out Of the proceeds OF these
battle fields, and the balance be made q
J sinking fund 10 extingnish the National
Muscatine Journal
We are glad to see that this subject is
being agitated, and particularly By the
Republican press,-as We regard it the
one most likely 10 bring thinking men TO
a realizing sense Of the enormous pecu'
MARY responsibility we. as t Nation, are
assuming. by continuous indulgence in
our present expenditures. "The last man
and the last dollar" sounds very pretty aud
does very we'll, as catch word to tickle
the popular ear; but unless we could
adopt that happy acceptation that "the
last man should be an abolitionst, and
tie last dollar greenback," we are not
disposed to be thus liberal in the DISPOSE.
ton Of our blood and treasures. $4,000.
900, OO0-and this sum would easily reach
$4,000, 900, 900 should hos,iites be suspend
ed Immediately; and this sum it is proposed
to pay by a universal contisca.ion Of the
property in the Southern States. Could
we do this 90 as to make the title in the
confiscated property fee instead Of only
life estate Of the person whose property
is confsca,ed, there would not, if we can
give any credit to the representations in
the Republican papers Of the destitute
and bankruptcy Of the whole S'uh-be
sufficient property there to barely pay the
6rst years interest on such national
debt.
Let US try If we can, to realize the full
extent and magnitude Of such sum as
$4,000, 600 900, and to do this we can
udopt no better plan than to cast the in.
terest on it for one year. AT six per cent
it would amount to the snug little sum Of
$3.50, OO0,0 900. Under our present revenue
law, the greatest possible sum which can
come into the National treasury would not
exceed $3.50, 900 900, and out Of this must
be paid, OF course, the current expenses
Of The Government, which could not be
safely reconed at less than $50 900 ,0oO-
making it necessary for US in time Of
peace to provide for the annual expendi-
ture of $o40,OOO,0O0. In view of this
condition Of our finance it becomes US a
rational people who have been floating
upon broad aud troublesome sea with
out chart or compass for 80 loug, to avail
ourselves of the first lull in the storm, to
take our bearings and work up our reck
oning aud in doing this, the utter impos.
sibility Of ever paying such Il debt will at
once be forced upon the conviction of ALL
| The next question in order which will lrsi.
timately present itself for our considera
ton. is how-,he payment Of the principal
being out of the queston-are we to pay
the interest, - and this We apprehend is a
question so difficult Of solution, as to stager
the financial accumen OF our most saga.
cious farmers Of the public revenue.
Let US for a moment glance at our abb
li.y as a people to pay this amount. Of in
terest and the current expenses of the
Government. Taxation direct aud oppres-
sive Of course mus: be resorted to but
can we or should We as people submit to
more turdensome degree Of taxation
than that we are already subjected to. In
what new form can it be resor,ed to, or to
what greater extent can it be applied
where it now exists. Everything that the
ingenuity of man has created or that
boun,iful providence has supplied US
with-evea the air we breathe and the
water we drink. are made subjects Of tax
alton in some form, and that TOO to an op,
pressive degree. Such being the condition
of our National exchequer, and such
being our inability to afford i, the neccs'
sary relief, it must like all other ins,i,u-
tons, whether corporate or individual
which are unable to pay their debts,
adopt that last resort Of insolvency.
bankruptcy. However harsh and unpali.
table this condition Of oil our boasted
National grandeur, and however mortify
ing to our pride as people in their coun
try's integrity, we cannot safely look for.
ward to any other end.
Jacob Well, IA years Of age, whose