The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1866-01-17
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EXEMPT TAI POOR.
It is true that here and there, bonds
are owned m small amounts by persons
limited circumstances; and would it not
be just to act on the principle Of the
homestead law, and in all cases where
there are six or eight hundred dollars in
bouds owned in one family, and not more
than that amount, to exempt them from
taxation?
RECKLESS WASTE OF Il NATION TREAS
URE.
It is further true that the expenditures
caused blythe war were unayoidably large;
but is there a single instance in history
of so wicked and wanton a waste of a ma
tons wealth as has marked the malad-
ministration of our affairs siEee 1852
Reflect upon the fact that taking into
account the difference in the rates of in
~terest; that the United States in less than
FIVE years have created a debt twice as
large as hat made by Great Britain in
one hundred and ninety-eight years.
That is, VIC pay more than twice as much
interest On our debt, as the English pay
on theirs.
In our large cities there are bands of
organized incendiaries, who fire the city,
in order that they may plumber it of its
riches, while good citizens are engaged in
extinguishing the hames. And SO was 1t
ON a larger scale, citizens, during the ter
rible war which drenched our land in fra
ternal blood. Whilc our soldiers were
battling for the Union, men high in pow
er were robbing the country of countless
millions, and by wanton waste and plum
der, a debt has been built up, and asys-
tenn of taxation has been put in force,
which for injustice, fayoritism and op-
preston is without a parallel in history.
MAGNITUDE OF THE DEBT
The almost measureless size Of our Ma
%tional debt,will become more appsrent by
comparing the expenditures during the
rebellion, with those incurred during 9th
er wars of vast proportions. From the
beginning to the conclusion Of the gigan-
tic contest of twenty years, in which Great
Britain was engaged with the first Napo-
leon, she kept afoat the largest navy the
world had ever seen, and on more than
one occasion subsidized the armies OF
Russia, Prussia, Austria, Spain and Por-
tugal; and maintained an empire SO ex-
tended that "thc martial music of her
reyeille met the glorious sun in his com
ing and keeping company with the hours,
followed his course as he circled round
the globe" and yet her expenditures were
but little greater than those of the Uni
ted States during our four years of war.
And during the seven years war against
her colonies in America, Great Britain
only expended FIVE hundred and thirty
two million dollars; or two thousand four
Kindred and sixty-eight millions less than
we expended during the late rebellion, al
though England had to convoy her ar
mics and supplies across the Atlantic
ocean.
But let US for a moment glance at the
financial record of our own country. The
entire expenditures OF the Government
of the United States, exclusive of pay
ments on the public debt and trust fund,
from the incoming of Washington's Ad-
ministration in 1898, until the outgoing
of Buchanan's Administration in 1861
a period of seventy-two Years-was only
one billion three hundred and ffty-one
million, five hundred aud twenty-six
thousand six hundred and forty-three
dollars. And hence the Administrations
Of Washington, John Adams, Jefferson,
Madison, Monroe, John Q. Adams, Jack
son, Van Buren,, Harrison and Tyler,
Polk, Taylor and Fillmore, Pierce. and
Buchanan, cost The country sixteen hun
bred and forty-eight million four hundred
and seyenty.three thousand, three hun
dred and ffty-seven dollars less money
than the l;quidated debt created since the
incoming of Mr.. Lineoln's Administers
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