The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1867-10-18
South as from thu fa,r a. II

may look into the financial condition of he
country; When taxation presses heavily
upon labor. new committee is at once or
aefeu by Congress to look up or invent
Southern outrages A series of teIascon;c
views OF far off and irritating subjects are
constantly held mp to the public eve. lest
1heS things which most concern us at home
Should get share of orr scrutiny.
They are anxious at the pending election,
70 Keep mems thoughts intent upon the
ssqnahhle between military AMI civil mem
oers OF their parr. They would have their
bubbles of the hour take up the attention
OF our people. This through all time has
been the device Of those unable to face
their creditors, or who seek public or pri-
vate plumber | believe wise statesman
ship can save our honor, can pay our debts
and lift the load Of taxation from orr peo-
pie. Let US then confront these financial
problems Why is our national credit so
low? Because it is the only Government in
the world that seeks to keep alive hatred
and diScord within its borders beause it
IS revolutionary in its tendencies because
it tramplcs upon all those rights of person.
OF property, Of freedom Of thought and
opinion, that had heretofore been the living
principles of political fabric, and which
alone gives it strength and value; because
it has violated all the pledges which it
gave from time to time. In the course Of the
rebellion; because it inhuerc ed the differ
ent States making up the Union, to repu-
date their sacred obligations. They say
with truth, that to pay man with debas-
ed paper money when he has had the prom
ise of coin, is bad faith Yet in New York,
the great commercial State of the Union.
when we were about to pay the public cred
Itor, who had given us not a deprecated
currency, but sterling coin, the interest
money that was due him, he was forced to
| take dehascd paper, at times worth less
| than one half its face
As Governor Of this State / implorcd
a Republican legislature not to DO this
great wrong. | pointed out the cost of re-
! pndiation to our State and nation [ re-
minded them that we could not disgrace
the chief-the commercial state of this
| Union, the most popular and wealthy of
all, without bringing shame unon orr land
| The appeal was made in vain. Every Dom
ocratc Senator voted in favor Of kecning up
the faith of the State, while each Rppuh-
| llcan placed himself upon the record in "a
vor Of repuaiation This one base act has
cost our State ten-fold in coin the price of
an honest payment of our debts. 1t has
thrown upon us shame which no words
can tell. Another cause for the low and at
this time waning credit of the Government.
! is that the business of men of the world
see that the statements put forth ny the
treasury, are used to mislead the people,
L do not charge that they are untrue they
give the amount of bond and currency debt
and such claims that appear upon the books
| OF the department, but they are used to
make the false impression upon the minds
of the people, that the hurthens Of taxa
| ton will soon grow lighter. and that the
public securities are gaining in real strength
and value. Perhaps it is not the fault Of
the Secretary that they do not set forth
other facts (which fill with alarm every
| thoughtful man. We are III truth making
in this country another form of Indebted
ness, which does not appear upon his books
but which are prior lieu to that held by
the public creditor When a Government
by its policy. fa>tens upon people new
and lasting expenses it makes obligations
which are as burthensome to the tax pay
ers, as if they were annual interest upon its
bonds.
When our Government entered upon the
plan of governing the south bv military
power, whom it roaolroa rupture tho
whole political structure in one third Of the
Union, hy DISTINGUISHING the intelligent
white man, and giving to the ignorant negro
political control it increased the permanent
cost OF this Government about two hundred
millions every year The man does not
live who viii see the dav when this militia
ry power and its fearful cost can be cut
down under the policy which now directs
our public affairs. Orr public expenses,
apart from interest on the debt have gone
M from S5S, 900 600 III 1860, to about
1885, 900, 600. In 1866, if we add the in
terest on the debt, and it foots Mp 1922,
600 600. Oar rulers are making beyond the
cost of the last Democratic administration,
and beyond the interest on any debt. extra
charges upon the treasury Of 1927 .O00. 900,
or what would be the interest of FIVE per
cent.on So, 800, 100000, taxing the people
as heavily as the debt. But this is not all,
as these new charges are counted among the
expenses of government they are prior
liens, and must be first paid
If the pledges Of the party in power had
been kept, to-day these would have been
but a narrow margin between the claims Of
the bond holder, and the sum paid by rev
enues into the National treasury. But the
world now sees an army with banners, a
hest of officials, and vast and corrupting ex-
penditure wedging in between the public
treasury and the public creditor. The lat
Ter is constantly pushed back in the order
of payment He finds his demand rapidly
sinking towards the bottom of a lengthening
list of claims. Yet the bond holders are
called upon by the Republican leaders to
act as a rear guard TO the hosts who are
emptying TIE treasury, and putting into
their own pockets the money which should
go to the public creditor
There is another peril to the holders of
our securities; the odium Of taxation is
thrown upon them. The people are taught
that the money wrung from them by the tax
gatherer all goes to the holder Ct bonds.
yet in truth while SI37 900 600 was paid
for interest in 1866, $lS5 900, 900 was
given to uphold armies and military power
to officials, to the freedmen's bureau to feed
and c!othe the negro, aud other expenses
growing out Of the policy of crushing ont
the Southern States. Men of the North,
You will find that the letters forged for the
hands Of the Soath are light indeed com
pared with the vokeS which are placed Hp0n