The Conservative. (M'connelsville, Ohio) 1866-1871, 1867-05-30

ango, that next year the prospect is
there will be n deficiency Of at least
one hundred milli )ns OF dollars, which
will either have to 10 unpaid or fresh
and increased taxation resorted to-
Now, in this condition Of things, what
is TO be don62
Remember that immense as the Ma.
tional debt Is, we pay it under the
present system in interest every four
teeL or fifteen years, and yet, atthe n
of that time, we owe as much as we
did before, not having discharged dol
lar OF the principle. Relieved OF the
iuyumbranre of this interest, its indus
ny would revive, trade would become
Acurishiug, and prosperity would smile
upon the land.
Has there been any attempt to de-
wise and put into practice means by
which u a be avoidedr NO. On
tho contrary, the Government has
been actually spending the money it
had on baud, not in taking up the
bonds upon which it was paying inter-
est, but in redecming illegal tender
currency, upon which no interest was
CHARGED. There is Il law now upon the
statute.b book directing this insane poli-
cy 70 be pursued.
What would be thought of the wis
dom of u man who should first pay off
uon.intcrcst debts, instead of liquida
ting Il mortgage which was bearing
u T. interest which, unpaid, would
sweep Oft his property ut u great sac
riRce!
Iftie Govern ,nent is TO owe money,
had it not better be to the masses OF
people who do not charge interest, in
stead otto the few Londhoiders who
do?
The Cover mcnt should pay of
all its bonded debt that il can at once,
by issuing currency for chat purpose.
This will stop the drain upon the
Treasury and release the people from
the burden Of oppressive taxation.
1t would in Il few years, save an
amount equal to the whole debt we
now owe.
Poured INTO the channels Of trade. q
fe Y hundred millions Of l~cgal-tcnders
/ would have u rcviving ind stimulating
effect upon every branch Of industry.
Does the labOrer want high prices
and steady employment? Does the
merchant and tradesman want quick
sales and large profts2 Does the
farmer want high prices for his pro-
ducc? Do debtors wants means TO pay
their debts? IL SO, let every body, lie
all classes Of people unite IN deman
ing an increase OF our monetary iucil-
tiles.
But, say the bondholders, tho Gov
ernmcnt has agreed 10 pay US gold in
stead Of paper Yea, but the Govern
ment through its courts has decided
that all payments promised in goi'
may be discharged in legal tenders
Can not the Governmental that which
II compels others to 90? Shall ther
be one currency for the bondhold
ers and another currency for the PEG
pie? ~.
In point Of fact, the b~ondholders di
not pay more than forty or fifty an
sixty cents on IA dollar for their dond
and by by this method of paymen
they ySll get as much back MS the.
originally lent, together with the hig
interest and exemption from State an
local taxation Of which they have la
the benefit fOr some years. As patriot
ought they to try make more OF I'll
peoples necessities?
D We throw out these suggestions be
causc the subject of the debt and ii
: taxation Of the people is becoming
paramount importance, and Is over
~shadowing all other issues. 1t is
question upon which people are thinl
ing, upon which action will ere long
tlken.
The country is not now IN tho co,
ditIon that is has been. Trade is la.
gushing, labor IS Improbable and
seeking employment, and yet eve
body l. groanIng under weight
p taxation that made thenatioE reel, ~,
; IN IT, most prosperous days.
Relieve us from taxation; pay &
l debit md stop the interest at once Il
l pu t and make money plentitl
'e is The general feeling Of the people.
.r On. Enq