, 1865-08-03
LETTERS FROM THE PEOPLE.
Jaw Cookies National
Blessing.
TIE pTBLIC FINANCES A3D CURRtHCY.

TIE pTBLIC FINANCES AsD cGRRt6CY.
EIpovt Dn11es-H,jEiaA EntKr1tton-
Qu. s1fons from IN old soldier-Des.
IlautloA In ArkaneHs-
IS TIE NATIONAL DEBT A NATIONAL
NoR7uroRT, Michigan, July 70, 1865.
Editoss Chicago Tribune: -
In late number yuu publish Jay Cookies
circular, and in your editorial you briefly
writer's on Political Economy usually begin
at the wrong end Of their story, will you let
q subscriber recall their attention to stub
born factae =
As In 3 bee-h1ye there Is qu.en, dronts
and producers, and as they arc all essential
to the very existence Of the colony, 80 In =
nation there must be q government, non
producers, and producers; and all experience
proves that neither can exist Ia an enlight-
ened state Of society without the others,
the classes, especially In republic. 4
Nothing can be more evident than the fact
that In every prosperous state the mejority
must be producers, for On them deTotycB the
duty of producing every thing that Ia neees-
sarJ to sustain ufe-a single years. or
month's cessation Of their industry would be
followed By universal starvation. But there
are persons that can not set themselves prof.
itably to work, and the labor Of mnltitudes
can not be concentrated without non-pro-
ducfng director fvhose labor, however, may
be more valuable than that Of any producef}
and no community could prosper without
merchants and many other non-produ ucers.
In this analy yticA classification ali who pro-
duce the neccssaries Of Life, or change natu-
Again. 1t Is manifest that the amount OF
wealth thatcan be produced Is limited by the
number Of laborets. Now since manual H.
bor, aided or notify machinery, Is the only
soulce Of wealth, and the Interest Of the n&-
tlonal debt must be paid annually, 1t Is per-
fectly manifest that the hundred and sixty
8se million dollars that 60 to pay the inter
est on the national debt must be annually
deducted from The aggregate amount Of the
labo1ere' earnings. This deduction Is made
by laying ta1 upon dnch attlcleB Is the L.
borefs consume and which the manufac-
turer Fays to The collector, and chA'ges to the
merchant, and the merchants collect 1t with
ten to Thirty per cent profit from the consn-
mer. By act OF CoDgrcss government bonds
aud real estate are exempt from taxatlon,
| and the products Of labor nBtnly ate taxed.
Hire, then. the1abcrrt pays, for all he buys,
| the price goods would sell at II there were
no national debt, pins the amount Of the tar,
and, on bob Of these The meFshant charges
| the same profit. Hence, 1t Ia patent that the
| national debt Increases the uon.produeer's q
profits while his Investments In real estate
aud Government bonds sre exempt from tax
| alton, and the laborer IL compelled to pay
| these profits ID proportion TO bis purchases.
Thai the national debt bas immensely Ia.
| creased the capital Of the country, aud will
| ~ Mks nAct1a nxafA Aedf} }nY
currency, there can be no doubt. = That this
state Of things will stimulate produc uon o1
| all kinds, 60 far Is profitable market can
| be found for them, is more than probable
and, II there were an unllmltcd market and
scarcity Of producers to keep mp pTicea,
manufacturer would consent 70 divide pro
fits with their 1abcrets. But such condition
| of things eau not last after we shall have
come fully In competition with other manu
featuring nations, and it is extremely dill.
cult to conceive in what our national and
| Slate debts are to benefit our laborng peo.
pie. The national debt can not directly
affect the agricultural interest Of smss
| everything they buy, and By employing mul
titndts in asserting and collecting taxes.
British prosperity is 'Mr. Cookies btar
ideal, becanss John Bulls debt Is the largest
he says Great Britain owes Crest Britain
| = ,0oo. .0oo, 600, on which ehe pays to hersel
l
eacb person aud he speaks Of this $t37 ,1oo,
600 inkt 80 man would of taking thou.anG
dollars from 3 heap Of millions to invest Il
some prefisab1a bnslness. But this Is uaos
egn gfous error. It IL not John Bull the
pays John Bull $137, ,0o0, 900 Interest annual
By Mr. Cooke at ali. Bns the 1aborin{
classes Of Great Britain arc compelled Il
raY John Bull this enormous sum, not tech
nically but In reality and no MAI that earn
his daily bread BY his daily labor (which
the case With ut lesat nsnety-ntue out Of ev
cry hundIed} can fill his own mouth or tbs
Of his Wife or child, till hls share Of the ia:
grinding system?
a. he time Of Prince Albest's World
Fair, Ms. 1ahRm visited England and lnyeatl
| gated the condition OF the common peopl
extensively. At . public honse he met
number OF merchants and manufacturer
pcroua condition OF Gseat Britain. he ueI
V,s1ted the farm labofeIs, Rnd found them I
the most abiect porertJ.. He asked then
why they did not raise pig o. hens to hav
| coed meal sometimes. L. meta the
exclaimed, Eve must cat every Jtnag p.
together" Most Englishmen deny tha
such is the condition Of British lAhorers
hut, uneuarded, will readily scknoWledg
that persons often sand farthing to th
baker 1cr brtad and every one En0ws thu
when English operatives are thrown out
employment for = week or two, they mus
, go 10 The workhouse. and they usually ta'
, | much better than farm 1abore1s; all Whfc
goes to prove beyond Ill casll that commo
Engllsh laborers own nsne Of the nation!
debt. '.'=0.-+7..- .-.
; III. semet,mes objected to this reasoning
that no family eould raise one hundred an
: / twenty-nine dollars for each person, to psy
| debt, and enough more to support one ot Il
| most expensive goTefamenue on earth, annl
ally. The iAct il, s,however, ,teconciled With re-
sonlng BY considering the condition Of Qrs'
!, Britain. About twenty years since, Britts
statistics stated that, With their machines.
, the British people could then manutactu
ae much goods Of all kinds as dix hund1e
millions Of people conld produce By han
without machinery. The markets of It
I world were then open to John Ball, and II
United Htatss we1e his best customer. IT
tariff no khnu now bs compelled to mar
tain, viii introduce Misunderstanding hare, an
, John Bull will not only lose our custom, b
will meet u In competition in every part
the world. His market Will be c1r;aile
j. and he can sink hls labo.erS no lower
! raise revenue. But, It VII ne Ten to =
l thai enabled this British people to pay Il
, interest on their debt. Our mannfActur
a | will come In competition with EnElan
France and Germsny; and It Is doubtf
!. whether, deducting the market Of the UnIt!
I States from that Of the world, there will
s remaining AZ much a. John Bull alone b
J. | hitherto enjoyed. Competition will cont
goods. and production will be limited
!, consumption.
1 Whether, b. agricultural labor, We can a
] nually raiEe eighty-ax dollars for every ms
' | Wu1rnn snd chlld-Wel1, sick, lame md
a saue-aud continue to purchase the princIE
.E-n frcTn nf at fiSsF
" remains to be aacertalned. But this Is
g the worst about one-third Of The proper
l. Of the people, namely, the bonds Of the I
tiopal debt and the entire real estRte> pay
interestat all and when ~ the ta1es-toT
county, State, etc.-are added to the fntere
and due allowance made 1or exempta, 1t
q not too much to saT that the producers
: our country have to pay two hundred dolls
q | not for themselves and families only, but
- avery living being In the United Statea. J
70 reader can verify these statements for hi
= self, and then Judge whether national d.
e is q national blessing. It Will no doubt,
Is rich some, especially the holde!s of Uni
consider the debt . blessing. But, thor
The debt is curse, the boon We have p
: chased by mourning 1t is Of incalcula
= va1ua.
il lg from our national debt, can scarcely
H.. | doubted. Among otnerb Is tle abolltlon
4" that banefnl theory Of State rights which
30 long flooded our country With often Ii
deemable and worthless State currency q
It | which has been held by 's'avehoideIe 10
y rorfm ov1r our heads whenever the intere
:. Of indus r. were to be. protected By 1egtt
j ton. The tariff Is q necessary sequence
the national Debt, and as it viii be peri
nent Institution, and capital seeking lnYf
s, mcnt will BE- supesabuudant. it Is to
~ hoped that manufactures nil bs erec'
~ everywhere, and prevent tbs utter exhaust
Of our son By the constant expectation
r It's products to feed foreign operatives inst
e. Of our oWn. No nation can con tnue pl
"a perons and permanently great unless 1t m
- utactures Its own goods and consumes
~ OWL agricultural products.
y It fsa lamentab1e fact that hitherto ev
!" enlightened raton, With Its standing arm
ID to aggregate and retain all political POI
~ in the hands Of its kings and mobiles,