The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1867-09-27
'- For the Jefersonian.
National Bonds, National Debt.
Gold Interest and TaxntfOn.

! Henry Brown, Democratic candi
date for State Senator, in that grea
show bill of his, got up at grea
labor and expense says that til,
holders of the Three thousand s,il
lion dollars of National Bonds al
draw their "Sem-iannual interest ir
gold" Why, Mr.. Brown don't you
read anything but the Hancock
Courier? Don't You know, or have
you forgotten that a large portion OF
our Bonds are the Seven Thirty
Bonds, payable, both interest and
principle, in currency and that under
Republican laws are now being re-
deemed with currency.
But you say, Mr. Brown, that when
you are elected to the Senate you
will place that Three Thousand NIL
nioas Of Bonds on our Tax Duplicate.
That's glorious Mr.. Brown; why in
one gear you will pay off all our State
debt. But how will you do it? Only
show us how, and then give us secur-
ity that you will do it, and we will all
'sdo evil that good may come" and
send you to Columbus.
There is a certain large book, call
ed Message and Documents. for 1886
and 1867, published by Congress,
and distributed all through the coun-
ty under the frank of Hon: VIM.
Mungen. Good authority, and in
the reach Of all; cheap, and free of
cost. In that book is Secretary
McCullough's last annual report as
Secretary of the United States Treas
ury, a Cabinet Officers Democrat.
Now, Mr.. Brown, we ask you to
look on page 3S of that report. You
will then find that our National debt
never did reach Three Thousand
Millions of Dollars. That the high
est point it ever did reach vas on
81, 1865, just after the close
of the war. Our debt was, on that
day, less cash in the Treasury, S2,-
757, 1903, ,6S6,91. Now, Mr.. Brown,
look at the report of Mr.. Mccullough
made on the 3lst day of August, 1867,
and published in ali the papers.
You will then see that on that day
the total smount of our debt, less
cash in the Treasury, was S2,492,-
1885, 1865. Now, Mr.. Brown, subtract
one from the other, and you will see
that our Union party, of which
you complain so much, has in twen-
ty four months, paid Off of our Nation
al debt over Two Hundred and Six
ty-Fiye Million of dollars, or over
Eleven Millions per month. Besides
this they have paid of, promptly, all
our immense interest, paid off all our
expenses, all pensions Of soldiers,
soldiers widows and orphans, boun-
ties, and all floating debts have been
adjusted
But, Mr. Brown, look further at
McCullough's last report, you will
find that over Two Hundred Millions
of our debt is in greenbacks, frac-
tional currency, etc, bearing no in
terest, in the pockets of the people
and can hardly be called a debt
Now look further and subtract, and
you will find that the total amount of
our National Bonds is only some
thing over TUo Thousand Millions.
Now, Mr.. Brown, If you have read
and know anything, or have honestly
investigated the matter, yon know
know that about sI00,0OO,000 of
OF these bonds are in Europe, owned
and held by European capitalists and
that neither you, nor theUnited States,
or the State of Ohio have any more
power over them for taxation than
you have over the Chinese Emperor.
As you are a large stock holder in
our National Bank in Findlay, Di-
rector of the Bank, and own q large
amount of those same Bonds, you
also know that about S400, 900, 900
of those same bonds are owned by
the National Banks, but that they
are held and are locked up in the
United States Treasury vaults at
Washington, to secure the people on
the notes you put in circulation, SO
that you Bankers, Directors and
share holders can't cheat the people
by breaking up as bank sused to do
You also know that the stock OF
shares of these Banks and thereby
the Bonds themselves are subject to
Natinal, State and Local taxation.
That the General Governmeutrealizes
a tax of over ss,00O,000, from this
source each year, while your State
county, ETC., also tax them. Now
then, Mr.. Brown, make your calcu
lation and if you are tolerably fail
mathematician you will find that il
leaves us about One Thousand
Millions of Bonds scattered through
the United States, which would bt
subject to taxation if there were any
constitutional right to tax them
These bonds are largely held by oul
farmers, mechanics, guardians, trus
tees, etc. About Seventy FIVE Mil
tlions are held in Ohio But you sal
that when you 60 to the Senate, a
our Representative, you will plac'
! Tlrx. Tbo,sond Hill,ons on our In