The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1867-09-12
The Public Debt---How Shall it be
Paid

The discussion of this great national
the credit Of the American people, is
one Of the prominent questions Of de-
bate in the Ohio canvass, and is attract
/ ing the attention of leading men III all
| parts of the county. The debt is large
| was contracted under peculiar and the
| most urgent circumstances, and its pay
ment, dollar for dollar, will require wise
and iudicious taxation on the capital,
the various products Of our country
The people of the United States have
been opposed to the taxation, to stamp
duties or to direct taxation. They have
prospered beyond all the nations of the
earth, and have suffered less from bur
densome taxation. From the first dawn
of our Republican institutions the ma
tons progress was onward and upward;
| the hum of industry yielding an abun-
dant fruition was everywhere heard in
| the land, and q joyous future, radiant
light cleaning from millions OF happy
homes, was opening up before us. But
. in an evil hour certain leaders of tn Q
Democratic party conceived the idea Of
forcible rupture of the Federal Union
and the establishment of an oligarchy
OF Confederacy. whose chief corner stone
should be human slavery. This idea
had long been slum berng in the minds
OF those party leaders. and finally found
full expression in the cannon's roar as
the fatal shot was fired on Sumter. We
all remember the bloody scenes through
which the nation passed At times the
clouds and gloom which overshaioWed
the land were dark as thai which yelled
. the plains of Egypt. Scarcely one ray
OF light struggled through to cheer the
,patriot's heart; destruction inevitable
seemed hanging gloomily on all our
borders. The nations strength-her
stalwart sons-sprung TO arms, and were
ready to peril all for their country safe
ty But they could not fight without
, arms, nor march without food, nor pre-
serve their physical powers without
clothing These articles could not be
had without money, and the treasury
was empty. Propositions for loans were
made, but bankers and capitalists, native
and foreign would not accept. Judge
Chase, then Secretary Of the Treasury,
offered to the market the 20 bonds,
/! bearing six per cent interest," and pay
able in gold. And these bonds were to
lie of
similar character were offered, and at
last the SOS, the interest payable in
currency, were thrown upon the market,
all of which were promptly taken the
treasury was filled with money. Arms
and ammunition, food and clothing were
furnished the brave boys who rushed
forward in defence of the country.
They swept ON and on, over mountain
difficulties. conquering and to conquer,
until final triumph crowned their ef-
forts. The rebellion was crushed, the
Government saved and the Union pre-
served. And now the question comes
up, shall we pay the debt, shall we abide
by the contract entered into in the very
death struggles for our nations safety ?
What is the answer of the people To
pay or no: to pay; that's the question.
We lift our voice in favor of payment
in favor of the nations honor. !
It is objected by some that the debt
was contracted during an inflated cur
rency, that the bonds were paid for in
deprecated paper, and should therefore
not be redeemed 1T all or else redeemed
with irredeemahle paper, and with this
view Mr.. Pendleton, of Ohio, the candi- J