Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1866-01-24
Secretary MccaIioch,s Proposed
Scheme, %

schemes Ia I
Not having room to publish :he entira IEspost
ahs Sscrstarysef the Treasury, no oontI1as TO
periio1s as ereansss siiasero.tins md
npotsaata sse5dtas MogrI Iesa fssass thaI
9a.asssry largely ID difsrsnt states, sand ID
'iffcroat sountiis and duties. of Is. md s4ie,
md are eserSwhess 10 high tLats srnlsss protected
teainsl 5hsn. tho seondz into:ssh.ch itb dpre,cpt
Iebt fncaning lhe rational dsbt OF the Bniteds
States must;Fbe funded, cannot bo distributed
among tho people, except in some favored loeali-
tics, unless they bcpr rata of interest 50 high
asse esnsssshetiebs< severely sppressise.- TO-
render the prospect Of extinsn;shfaent we'll nigh
hopeless. Exempted rim a6eai taxation tis
which. Ms. McCcLLocn means State taxatisn)
tho debt cam scxpsctsd. bs funded Etanssari5s
day atGSsp per.epnt > If locaiAs1afi6n bo allowed,
no s6nsidsrAtIe portion ofstbesdcbt5 Whieh falls
due within tho aexp tSut ycnrs iccn haassinsed at
home asl athan eight per cent. ,Eho Tas:payara4
Of thc gBirsa stGsss7 cannot nilefd to have theft
burdens thus i:orsas.d,R sssS''s Z: A'tsase.s q
!. - III sender dii regal 10,
Of tho United stsiss tAat induces; tls Treasurer
.,be in.6ieiab,o auraon s 81 h Three rS.ussad sf
Ipn Dollars of publiS debt, has Afr. cegLhesns
:SsainlSseulpa ddisdy ygr rissdeicaleplxripg rpcH
.,hcisSsrlnee Of ,bo pssfl '1ss,hthi.,
bsms and sstiias fhs IL their initsrast 8
THE sts.iNs wl1uh bo tTbrscSsss s simply this;
fhaf ihe pab,is debt. a,rnsnan.idc toThfes ThUas.
"a .a.d Million DcIiar,, bs funded, {: tint tho
sasye.npent pn,s in market aua soils i,s IsSds3io
sthe, ,smoun. of Three Thopsand Mii;iion6 Dellafs;
bonds are t.. be forever held fres 0t
taSatUn. He .elisu elseghOras that: the, wh elg
.propartyof the Uaited States anountsato;fo :,
teen ThousGhd Million Dollars. Ho> proposes
thersfre that abSut ona fifth os tho Sentire proe
pdcrty Of The Bnitsd States be madc eIemptffdm
taSaiion. And. what Class Of properly docs hs
propose titus to oIempts Is IT, tho properly OF
tho poor; of tho. laboring, elass Of the people;
otssmalif .nners;, ,ortho Aeoesaariss of tfeg just
she.ssversa. He proposes to exempt three tiod-
e,antl u,ill,5n,aoliars worth of Goyyrnmsnt bonds
Ytsn !tuxstion. Ard Saoaaiii be The holdors Of
bb tbssa bon d, why tho capitalists; dhe moneyod
.i.n ,o.n ef lie country. merchant princss, wail
s,,.,. n. hers .toek4iobbets: and the shyissks
nS1 an, ,,ndS 'Tba eon,1mmatiorl oi
hi. nv csos arid .rset in \ ,cnnJliean Govern.
Em,n,-,,, most oaiaus, n,psyed aristocr,cy -tbs
World sx.rs,av,s Jsnaaud stock .iobbsrs holding
,,;,,;on.
IA ~. ,m,u f,rm.- ~. mech .,ic, .,,,, trsdn,.
., .s,,s,Ss ,oSr ~ III: js,,eaebssxily t.I.d
; :, I, tk;a .
~ u ,ssss.5 ..,5 ,,ssk;rt, -1,poh,d
IS. s.a,, ~. s, A.. MI rd .,no.;.i,x q n,
North west.epay tax OF 4 million and q kal
dollnrs. thu ;n,eIo,t ,uon fsuch n d.bs asthis1
We hare: stsaucely .mi,taken, their intslTgsnce Il
Ethavsdo.. - ;, ,e,s L.. .eisS, 80. z
aTbs,e nu.e undonbtsdlvt be .trourr, ,easoI
M ,.rpes 1,ocu to plt forth 4suctI
,cb.mno. And VIC aceord,nsIY audih.t reason il
itAis a admission TIM. Sulniers these Bonds nre ex
smptod from i s.iar, shoy oaaaof bs .ola. Thi
Nc udmi, will rsry certainty be tho -resllt. I
,,hrse ,housand ,millisn dollars worth Of Govern
| msnt Bsndssubjsct to taralioa be thrown upoi
tho market. there: viii lau few-or. no purchasers
Nonsyod men viii ibesefy dig tof in.sstins gos,
tmonsy in Bonds which nay .neysr. be! paid
i, Whether caush Bonds will .sers be redeemed de
pan.is apon tho voters in ihe: United statos. ]
maaisrity of the voters in tho several ates sr
opposed /, paving ibe intsrsst upon those Bonds
thsy hare but to select momb bars of Congress ah
will o.o for their repudiatiol- there viii 5
! Gsn end Of tho Honda. To sosbjoetnre. what tn
people will chooseio do in suchacaso, it woul
% VOL 10 ih4utfe VIVA. WIN % 'ne'r 'as''e' -
Eil pretty s.taealeula.lon 20 suppose tae.@ea WI
befunded, whether those Bonds DO exsnptfrom tax
a'i'n or not, thero will not DO one man in ten VIII
will be Bond holder; or suppose there be ono ii
throe.- Two men then ont OF every three s. in th
country will bo ta1odto pay theintsrest on Bond
1 m which they have. no intercst and thotaI, Mr
/ MceThbocH himself samitH, will be flee per cen
0n'ths resources OF the country. Will the grea
mass Of the hboflng pooplc Of the country, 10
two-thirdl. Hgreet pay thistax, fer the bonof
Of tha rsnaining third-and that third the mon
| sysd arissoeracy Of tho lisd 1.
| Thaae are qaestiens that capitalists will looi
sausioudy iuto s,bsfsrc touching Government
:Bonds; and this the Treasprsris tEell aware of
Heuoa hisan1iety to txyo tEsso Bonds exempted
from ts1s,iun; asothsswiSvthera will be no hops
OF ssilias tl,am. .Ws have SHOWN the monstroui
;.,.,.u.;., .h o,,,a -, -: i. -
U