The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1866-01-17

only thirty thousand land owners And
among every fifteen Of her inhabitants
there Is one pauper! According to the
London Lancet three hundred persons
annually starve to death in the streets of
London.
Here chen, citizens, we have the warn
ing examples of republics enfeobled, cor
rupted and enslaved. of a majestic mon
archy with its debt washed out in the
blood Of revolution; and the most power
full kingdom Of modern times, with one
land owner to every thousand, and one
pauper to every fifteen inhabitants And
all these evils, citizens, were brought.
about by financial systems less unjust,
more wise, and lest burthensome than
that which now %aflicts the people of these
United States. And what reason have
we to hope that our own country will es-
cape the doom of other nations, under
like circumstances? If we look to the
past, our vision is dimmed by a mist Of
blood; and if to the future, we see in the
dim distance but palaces and hovels-the
lordly rich, and the starving poor! no
CAN THE DEBT ''BE PAID IN THIRTY
YEARs?"
We are assured, citizens, by the distin-
guished fnancier at the head of the
Treasury, that the national debt can be
paid in thirty years; and I would be glad
to believe that such an event was proba-
Bile. But it is vain to try to deceive our
selves, with d%elusive hopes. To rush
madly, wantonly into debt is an achieve.
ment easily performed, but to pay a debt
of almost an incalculable amount is an
other matter. No, citizens this debt
will not be paid In thirty, nor in three
hundred years Are the expenditures of
the Government to cease during the next
thirty years, that we are to be able to
apply the public revenues to the extin-
guishment Of The debt? What as
%surance has the distinguished and able
Secretary that We will not be involved in
another gigantic war, within the next
.hirty-nay, not within the next thirty,
but within one year ? 10
Why, citizens, are we not told by our
wise and patriotic President, that taking
advantage of the contest in which our
country was engaged, that
"The materials Of war for the insur-
gent States, were furnished in a great
measure from the work-houses of Great
Britain; and British ships, manned by
British subjects, and prepared for re-
ceiving British ornaments sailed from the
ports of Great Britain to make war on
American commerce., under shelter of o
commission from the insurgent States
These ships having once escaped from
British ports, ever after entered them tc
reft and so to renew their depreda.
%tions."
In two brief sentences, the President
clearly and graphically sums up five dis.
tinct causes of war against Great Britain
Hostilities may not come, bat the cause:
exist, and no man can tell how soon they
may eliminate into open war.
Nor is this our ouly danger-I mean
financial danger, for l, citizens, like yor
all, would prefer again to see the sworc
unsheathed rather than submit to nationa
dishonor. 3
But, citizens, there are other causes O
war, and consequently of financial dan
ger, and financial ruin, For months th'
land has been rife with threatning ru
mors as to France and Mexico. and thu
opinion of the distinguished Lieutenan'
General commanding our armies, are her
aided forth as omens of coming war.
A debt of three thousand millions, ant
war talked of with three nations-two o
them combining sixteen hundred ship
of war And with all these dangers
confronting us, we are told that the ma
tional debt can be paid within thirty
years! But there is another reason, cit
liens, why the debt will not be pail
within hat time. The bond holders hav,
complete control of Congress, and of al
the Legislatures. save one, whose States
are represented in the National Legisla
ture; aud the bond owners are determin
ed that the debt shall not be paid. Why
Because they " the debt; and it is Sc
cured by mortgage on your property, ant
they receive usury in gold, which you ar,
forced to pay; and they desire that thei
children and your children shall occup,
the relation of bond-ownet and bond
men.
T1x ,Ar ---1 ,ry -