The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1865-05-03
WHOLE NO. 446.
4 Public Debt.


A cotemporary reproduces some para.
graphs from an article which was published
as long ago as 1892, in the National Gazette,
but which seems at the present day almost
oracular. 1t is entitled, "Rules for Chang
ing Limited Republican Government into
an Unlimited Hereditary One" and the fol.
lowing passages appear most curious and
striking at the present time:
"But the grand nostrum will be public
debt, provided enough of it can be got, and
it he medicated with the proper ingredients
II by good fortune debt be ready at hand,
the most is to be made of 1t. Stretch it
and swell it to the utmost the items will
BEAR Allow as many claims as decency
will permit. Assume all the debts of your
neighbors in ., word, get as much debt as
may be raked and scraped together and
when you have got all, you can advertise
for more, and have the debt made as big as
possible, and the next to that to get it into
as few hands as possible. The more effectu.
ally to bring this about, complicate it, divide
it. sub-diyide it, substract it, postpone it,
let there be one third Of two thirds and
two.thirds Of one third let there be three
per cents, and four per cents and future six
per cents. To be brief let the whole be
such mystery that few only can under
stand it; and let all possible opportunities
and informations fall in the way of these
few to cliuch their advantages over the
many. svsv auorvaf nj bra@r-,g7 .1aar r. ..
1T must not be forgotten that the mem
bers Of the legislative body are to have
deep stake in the game. A sufficient mum.
Der, properly disposed, can alternately
- al Iot md Cnn Int ,1>x
legislate, and buy and sell, and sell and buy,
until due proportion of the money of
their constituents has passed in their hands,
to give them an interest against their con.
stituents, and to insure the part they are
to act.
The ways in. which q great debt, so
constituted and applied, will contribute to
the ultimate end in view, are both numer-
Gus and obvious: /. The favorite few thus
possessed Of it, whether within or without
the government, will feel the staunchest
fealty to it, and will 60 through thick and
thin to support it in all its operations and
usurpations. Q. Their money will give
them consequence and influence, even
among those who have been tricked out of
it. 8. They will be the readiest material
that can be found, for hereditary aristo-
cratic order, whenever matters are ripe for
one. 4. A great debt will require great
taxes; great taxes many tax ga'herers and
other officers; and all officers are auxiliaries
Of power. s. Heavy taAes may produce
discontents; these may threaten resistance,
and in proportion to this danger will be the
pretence for standing army to repel it,
6. A standing army, in its turn will increase
the moral force Of the government, by means
of appointments, and give it physical force
by means OF the sword, thus doubly for
warding the main object"
"The management of q great funded
debt and an extensive system Of taxes, will
afford plea for esta blishing great incor.
porated bank. \
As soon as sufficient progress in the in.
tended change shall have been made, and
the public mind duly prepared, it will be
proper to venture on another and belder
step toward removal Of the constitutional
landmarks. 1t will be of special moment
to give the most plausible aud popular
name that can be found to the power that
is to be usurped. 1t may be called, for
example, power for the common safety,
or the public good, or the general welfare.
If the people should not be too much en-.
lightened, the name will have most i'm.
posing effect. 1t will escape attention that
it means in fact the same thing, with a
power to do anything the government
pleases in all cases whatsoever. To op
pose the power may be called by the artfnl,
opposing the general welfare, and may be
cried down under that description"