Holmes County farmer. [volume] (Millersburg, Ohio) 1857-1926, 1864-06-30


ture Of this war. Cotton, tobacco, rice, SUI
gar, will perish as means Of revenue. The
blow Of the Executive, which releases four
millions Of hands from profitable labor inn
poses the task from which they are set free
on similar number of white laborers. 1t
does more. They are still lconsumers-they
must be fed and they will not feed them
selves The President unconsciously utter
ed q phllosophic truth when year ago he
said OF free negroes They eat and moth
ing else. Nor can the negro be much
blamed for accepting this easy life when an
insane party tenders it TO him, and laws the
burden Of labor from which he is liberated
on the neck of the white man. A totally
ruined and impoverished South, her prop
crty destroyed and her slaves set free, all
simply means the annihilation of 50 many
sources Of national revenue; and the conse-
guent enormous taxation in the North.-
Coniiscatlon will not pay the expenses of its
own machinery and execution. As means
of replenllshing the Treasury it is not te be
mentioned, except by madmen. All history
bears testimony to the folly of thus attemp-
! ting the liquidation of public debt 1t
must be met and paid by the fruits Of the
soil produced by labor. And he who redu.
ces the number of laborers North or South
white or black in the same proportion mul
| tiplies the tolls and sacrifices Of those who
! yet remain.
Mr.. Chairman, need not pause to dwell
! upon the mathematical certainty of national
and individual bankruptcy and ruin which
the foregoing calculations so conclusively
demonstrate. The humblest mind in the
land will grasp the fatal result upon which
we are Fastening. But some superficial OBJ
server, intending too to further deceive the
popular mind, will doubtless point to the
surrounding appearance of general prosper
| ity as an answer to this portion of nay re.
marks. Money is flowing in boundless pro
! fusion. Unnatural prices are paid for eve
| rything. y meretricious splendor halls u.
upon the streets, at the rout, the assembly
and the theatre. The nation seems fatten
| ing on blood and carnage But this higi
1 teverish flush which we everywhere behold
is not the genial warmth Of health. 1t j
the fierce hectic glow ola swift consumption
/, 1t is the herald OF death, and points to tn
/, tomb. What we call money is not money
/. and the most gorgeous wealth has no value
because it is prey to the monster debt. -
!. Frenchmen, more than hundred years ago
dreamed Of a fabulous fountain of prosperi
, ty, and located it in the valley of the Mis-
sissippi. The credit of the Mississippi
Company became the basis of an illimitabl
| paper currency, and both the king and tn
, people of France hailed John Law, its foun
der, as the deliyerer Of their kingdom
: was treason to doubt the infallibility Of hi
r gigantic schemes of human credulity anC
folly, as it is now to doubt the wisdom anC
final success Of our own financial department
Bancroft, the historian, well portrays ou
own unhappy situation, in describing thi
great delusion of the French.
The trade of the South sea, was to pa,
the debt of England in twenty-seven years
and Sir John Blunt issued Government
bonds on the faith of this fcticious wealth
, Avarice and speculation instantly seized lik
twin fures upon the heart of the Who'll
2 kingdom. The glittering CLEANS of a falls
; and deceptive prosperity gildcd every pre-:
v ent scene, and Illuminated the future wit
c the radiant smiles of hope. The Britis
n parliament resounded with high eulogiun
/ upon the financial scheme which was so SOC
e to release the hands of English industl
Il from the CALLING manaclcs of debt. We a
e listening from day to day TO similar speecl
| es upon similar subject as they are mac
: on the other side of the chamber, in the d
tense of the Department of the Treasury.
% ment Of paper credit in England as well
o in France; and Smollet, the historian, rt
Q lates the fate of their projectors, from
study of which the rchitects of America
0 ruin may accurately determine the destin
which hangs with certainty over their fu
J ture
"while at the moment n south sea directo
was scarcely safe in the streets from the veng
E Mississippi bubble in France was fiying for hi
life from the people whom he had beggared."
g Sir, in view of the experience of other ma
tions, in view of reason and facts well ma
the Comptroller of the Treasury himself
catching the mutterings of the fearful risin
Storm like the practced mariner at sea, vi
. ter cry of terrible warning. In recer
address he fully confirms the dark and di,
u NAL view which | have here advanced, ,
our financial condition. He says:
. "Bear constantly in mind, though the 10y
1t condition that such is @ not the fact. That Viii
the Government is engaged in the suppressic
$ magnitude, and is constantly draining the cou
II try of its labortng population, and diverting
y value to the construction of implements of wa
A. fare; while the cities are crowded and the cou
ii try is to the same extent depleted, and was
u and extravaganza prevail as they never befu
le prevailed in the United States, the nation VIII;
rt ever may be the external indications, is II
prosperous.
10 to Sir, l take leave of the question of t
m general welfare. The bitter hour of a pc
= pies bloody sweet and agonizing tears W
~ soon be here. The mournful shadows
~ the funeral pail are already penetrating Il
i once bright and abundant homes of Writ
"a Gus labor. The spirit Of oppression is on
= nipresent in the land, and like death al
/ famine, none will escape the pangs whio
! it infcts Let each eye which now beholC
- the sun take its last look at scenes of plent
!, and prosperity. Our fall from boundin
!, q wealth and unlimited resources to pinche
n and shrunken poverty and covering banl
- ruptcy, is as certain and as fatal under oil
. present policy as the fall Of Lucifer, II
~ morning star, from heaven. And the e!
{ clamation of the laborer as he tolls in
hopeless bondage to the public debt ma
-, well be as despairing as the anguish Of tt
y lost angel:
n Where Joy forever dwels. Hail horrors, hail
u Internal world, and thou profoundest Hell,
N Receive thy new possessor."
y y And now, Mr.. Chairman, what else +
p mains? What portion of the Constitute
y can yet be found alive? What princp
70 has been spared, preserved or protected
10 the destroyers who rule the nation? Hay
4 they provided for the common defense
u gainst foreign powers? The emperor of Fral
9 overthrows the Republic of Mexico, and {
y its ruins erects an imperial despotism
immediate contact with our borders.
i prince of the House of Hapsburg, traint
. in the courts of Austrian oppression, b
II comes our closest neighbor. Perhaps it
W ,,oo1laSO 70 on,nnlain Of this pnar ayamp