The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1867-09-05
Che Uribunr.
.Taxation, or Repudia.ion..


The editor of the Green Bay Adcocate
is an acknowledged democrat, but not
coppcrhead. He is all our fancy could
paint as an honest politician, that is, one
who loves his country more than his
party We offer no excuse for copying
entire one of his leading editorials. 1t
contains sentiments which we fully en-
tlerse and we commend it to our demo-
cratic friends
Not the least Formidable nor the
least pertinaclouS political movement now
on foot, is that which has been steadily
pressed during the past year for the crea-
ton of a sentiment against Z. S. securi-
ties The agitation began in remote and
obscure quarters, as if by preconcerted
action, almost at the instant OF the return
of peace, and has been gradually making
inner circles until it has eliminated in
Ohio and elsewhere in the cry of Taxa
ton or Repudiation Or, to understand
more fully what Vallandigham, Pendle
ton and others of that class, who are seek
ing to make the Democracy shoulder a
new load, we will explain that they claim,
l. that the government bonds are owned
by the rich men and capitalists of this
country; ,. that they pay no taxes upon
them; g. that the poor people and labor
ing class pay a proportionely greater tax;
and 4, that unless the government bonds
are taxed, as other property, the people
of this country ought to ''repudiate'
them. This is probably fair statement
of the position, divested of all sophistry.
The intended conclusion might be jumped
at quicker by saying that these bonds
ought to be taxed-but as the govern
ment is pledged not to, and now cannot
tax them, let Us repudiate them.
We do not believe, either as a matter
OF policy or right, in either their repudia-
ton or taxation. First, as TO policy
The bonds owned on this side of the At
lantic are not in the hands of the rich
men and capitalists Of this country. They
are in the hands of the poor people and
that grand middle class of thrifty men
and women who have earned something
for "a rainy day by the sweat of their
brnvs The capitalists make more rapid
increase with their money than the slow
! per cent Of Government bonds. Scarce
Il dollar IN bonds can be found among
the great manufacturers, merchants, or
bankers in the country. They cannot
afford to invest their money in them.
The turning of wheeis. and selling of
goods, even the handling Of these very
bonds, without retaining them, pays
better. But the farmer who goes home
from selling a load of VIII eat. takes an
500 bond with him, dra wing Its little
interest, and better to lay away than
greenbacks or gold. The capitalists does
not lay away money he keeps it in mo-
ton. Not 50 with the thrifty mechanics;
they have no time, nor skill for their
savings outside their daily Labor. and you
will find in nearly every one Of their
houses throughout the land more or less
| OF these non-roliing stones gathering no
moss The holders of these bonds. this
side OF the Atlantic, are the artisans, the
clerks, the farmers, the sewing women,
the returned soldiers who have saved
their bounties and earnings in the war,
! the widows and unprotected women, the
day it,borers, and the great army of work
ing men. Ask yonr nearest banker If
this is not so; ask him to what class OF
people hc sci lis most bonds Ask him,
also, ii his deposit account has not suffer
ed by this new plan By which the Gov.
ernment bonds are made tie People
Savings Bank.
| OF the two billions and upwards Of
/ these bonds, one-half, We will estimate,
are owners across the water. OF course
taxation is out Of the question with item
only Reputation can be considered Oh
/ the other halt by the far the great bulk
is owned by the hard d-working, thrifty
sound-thinking people Of this country
| What think you, Mr. Politician, of try.
ing taxation or repudiation on those peo
pie? Try 1t once, and the party which
shoulders the undertaking viii go up like
an exploded balloon.
One word as to the right of it--and
this may be very brief Did the Govern
ment, when it was hard pressed for mon
ey, say to the people If you will take
these bonds for the debts We owe you, OF
| ior money which you will advance us, We
will exempt them from future taxation
| Ii SO, we have no more right to tax then
than to repudiate them; and as to re-
pudiation, the man who advocates it i.
TOO mean. too dishonest, and has to<
little regard for the name of his country
to merit any argument for single mo
meat.
"The haunted HGuSe 1T Watert0Nn.'
The above is the title of one of th,