The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1867-10-14

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When our government entered upon the
plan of governing the south ~ military PoTes
er, when it resolved TO rupture the whole
political structure in one,third OF the Union,
hy disfranehising the Intelligent white man,
and giving to the ignorant negro Political
cyutruas itgincreass6 she peemaaeMs egss M6f
this Government about two hundred millions
every wear. The man does not i've who will
see the day when this military power and its
fearful cost can be cut down under the poll.
ey; which now directs our public
affairs. Our public expenses, apart
irony interest ON the d debt, have gone
up from $5S, 000, 600 in 1859, to about q 3d. i
000.0 900 in 1866; if we addi the interest on
the debt, It foots up $s22, ooD, e08.s Cur ruF.
ers are making, beyond the cost Of the last
democratic administration, aud ,,eyond the
interest on any debt, extra charges upon
the treasury of $l27, 600, 0o9, or what would
be the interest of five per cent. .on $2,500,-
100000, taxing the people as heavily as the,
debt. But this is not all. As these new
charges are counted among the expensea of
government, they are prior liens, and must
be FIRST paid. iriJ'rss3 haaas3as :; xgg sol ,1i4i
eff the pledges of the party in power had
been kept today there would have been but
atnarrow margin between the claims of the
bondholder and the sum paid by revenues
into the NATIONAL treasury. But the world
now sees an army with banners, q host of
officials, and vast and corrupting expetidi-
ture wedging in between the pxblic treasury
and the public creditor. The latter is coi,g
stantly pushed back IN the order Of payment.
He finds his demand rapidly sinking toward
the bottom Of q frightening list OF claims.
Yet the bondholders are called upon By the
republican leaders to act ss ., rearguard to
the hosts who are, emptying the treasury,
and, putting into their own pockets the mon
ey which should go to the public creditor,
There is another peril TO- the holders of oar
securities; the odium of taxation is
thrown upon them The people, are taught
that the money ~fung from them BY the tax
gathetef all goes TO- the holden bf bonds yet,
in truth, while $T37, 900 900 was paid for IN
terest in 1866, $Is5, 200, 900 twas' given to
uphold armies and military power, to off,
Gals, to the freedmen's bureau to feed and
clothe the negro, and other expenses grow
ing out Of the policy Of crushing out the,
southern states. Men Of the north, you
will soon End that the letters forged for the
hands of the south are light indeed comsc
pared with yokess which Are placed upon your
necks- The annual increase of the cost of
our government beyond its expenses in 1860
il equal TO the interest at six per cent. upon
q debt of 81, 100, 00e ,0Ue.. Il is due to the
secretary Of the treasury to say that. any
warning he has given against waste and cor
ruption has been UNDECIDED by congress.
Are We, then, lessening our national obiiga-
tions? Again while the republican jour
49,. <5,o oF .
treasury 10 encourage their falldwers with
with hope of relief, they do nat point out TO
them the startling fact that, if the volume
of bonded debt is diminished, the interest to
be paid upon that debt is growing greater.
The policy -four rulers is to turn non-inter-
est paying obligations into tax-exacting
form, SO that the treasury reports show that
the taxation demanded to pay the national
interest is growing greater each day. :s.I :.
1t may be asked if we can cure the evils
under which cur country labors if we can
lift off the heavy burden of taxation which
brushes our industry if we can build up
the credit of our nadon,-wipe off the dis
grace which soils our credit, and remove the
danger which threatens the safety of the
republic. IF did not believe that we could
do oil this, would not stand here to i'm
peach the wisdom of those in power. | do
not cali in question the motives of the mass
Of the republican party; but T aver, aud
time has proved, that its organization can
not discharge the horde efefhcers which eats
up the substance of our country. And will
show why, without claiming for ourselves
superior virtue or patriotism, the instincts
and policy of the republican party lead US
to Bankruptcy, and Aoas bad men to Abe surs
face of public affairs, and corrupt officials in
Al e ~. i Il
the other hand, our policy, although our
ranks are filed as theirs are, by good and
bad men, leads to opposite results.
Those who now hold the power have not
only hewed up to the line of Republication, but
they have done the public creditor wrong in
other respects !; they have turned away the
public mind from all scrutiny into our fnan-
ciaI condition they have not tried to give
value to the public credit they have in that
boastful spirit which made the late civil war
80 wastful of blood and treasure, by under
stating the difficulties and dangers of the
public position, tried to deaden the public
sense with regard to impending danger.
Eve could put the value of our bonds up
ON level with those of Great Britain, we
could add more than 81, 00O, 000, 900 to the
value of the securities held by our citizens.
This simple act would give vast amount of
wealth to the holder, greater security to the
laboring men and women who have put
their earnings into the savings banks which
are secured by these stocks, and would place
the paper money OF this country upon ba-
sis above distrust This one act, like q
magic wand, would change the aspect Of
our, affairs and would give us vast wealth
and resources. ] ct it would not cost the
taxpayer one cent? 1t would, in fact, lessen
his burden. The measures which would do
this would lift off from the labor of the
country the burdens which now crush down
SO many industrial pursuits. The policy
which must give character to our bonds
must, in the nature of things, give perpetui-
ty to our country and profits TO labor. These
must rise and fall together. LIDO not own a
government bond / have deplored the
waste and corruption which piled up the ma
tional debt; but these were acts of the Amer
lean people, through their lawful representa-
fives, and have been sanctioned BY them il,
their subsequent elections, and they should
pay the penalty. ] would keep the public
faith. While we condemn the errors of the
past, let us, with zeal. seek TO make the fu-
ture prosperous by patient, patriotic efforts
to bring back, again onr government to its
former wisdom, honesty and simplicity
Why should not our credit be made as good
as that of Great Britain Is p We owe less .
our means are greater. Why is not cur
credit better than that of the Turk whose
wealth and power does not compare with
ours Simply because these powers are
seeking to uphold the integrity of their do
main the neaee and we'll -heing of tbas;r 400.