Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1867-12-12
JLEARFIELD, Pa THURSDAY, DEC 70, 1867.

replace the nationals with lega l-tend-
ers, remove the curse Of negroi SIN,
uncertainty and instability that now.
oppresses the South; let white brain
and black muscle acting for their
individual gain, give US back our great
Southern staples, develop all Of our
immense resources, and cause the hum
of industry to pervade the land and
thus rc-establish the credit of the Re
public. With your affairs placed upon
such basis, your legal-tenders will
rapidly approach par, and then it does
not matter whether you pay your
bonds in gold or paper, and thus that
problem, now so difficult, you have
solved. Our bonds and notes, upon
which we now pay from five to seven
and three tenths per cent. interest, are
redeemable, except about one-tenth OF
the whole, during the next seven
years. When our credit is thus re-es-
tablished, 1t will be an easy task to
place new loans at lower rates Of in
terest, at short dates, with which we
may exercise our option, and get rid
Of all interest over four per cent. As
we grow wealthier the amount Of in
terest becomes less onerous, taxation
I decreases and within this generation
the burden of the debt will be unfelt
Enlightened men enterinlo govern
ments in order that they may, as a
mass, enjoy those rights and privile-
ges TO which each feels he, as mem
Der Of society, is entitled. They Gre
ate written constitutions 10 define and
limit the powers of the government,
their creature. They do not form
them TO render man unhappy and
oppress him, but to $50 lightly rule"
that man unmolested may perform
bis duty to his fellow man, and that
they, in mutual intercourse, may find
their common gain.
When the whole people feel instinct
lively that something Is wrong in the
operations Of such q government, each
one should investigate the cause; dis
cover the evil and apply the remedy
, DO we not all feel that something is
, wrong in administering our affairs
Business depression, commercial fail
ures, and "hard times, demonstrate
/ to us that our material interests are
, suffering, and our monetary matters
5 on the verge of a crisis. Taxation
r presses severely upon the people, and
Z as now arranged, by far the larger
! portion of il fall upon those who are
poor, whilst the rich are exempt.
! Participation in the benefits Of gov
! ernment carries with il the CORE
e spending duty of adding to its support
+ To pay cur taxes is plain duty TO
e pay only our share OF taxes, and to
{ know hoiC and Chen we pay them, are
r equally plain and corresponding rights.
c Fundamental principles upon the sub
Y iect Of taxation are, that each should
s pay according To his ability; that the
$ tax be certain and not arbitrary; that
n the time and manner Of payment, and
{ the quantity to be paid, should be
+ clear and plain to him who pays, and
5 all others. In the violation Of these
T. principles we may find the secret OF
Y much Of our present difficulty
J. 1t is a sound rule ftdt 6pery one
/. should pay tdres according 10 his abii-
{ ~, but it is violated in practice TO the
4 extent of one-fAh Of the property Of
c the country. The untaxed govern
C ment bonds constitute about that pro
J. portion Of the whole, and other inter
c ests bear its Just share of taxation.
d 1t docs not aid ia paying bounty, in
J. providing courts and iuries, in sus-
n tanning common schools, in paving
/ and lighting streets, in making roads
n nor in the protection Of the lives and
$ property oil the people. Such a sys
} tenn is grossly unjust, but if we regard
|. il in its economic bearings alone, VIC
@ find it 10 be injurious in its effects
e Investment in these bonds and in tbs
IS stocks ofnational banks secured there
o by, absorbs the capital necessary foi
IS the prosperous growth Of the maioria
v interests of the country. Before this
!. class of securities existed, the wealthy
s. sought employment for their capita
Il in partnerships in productive enter
Ie prises, in mortgages upon real estate
Ie about to be improved, and in loans &
4 energetic and industrious bushes!
Y mon, and thus lent a helping hand u
"a the material interests of the people
,e Taxation could be imposed on al
IF these, and capital bore its share there
le of Now, the business man mus
Of compete with the government, as wei
Of in its rate Of interest, as in exemption
from taxation, for in borrowing mon
II ov to conduct his business he pays th'
3. highest rate Of interest given by th'
l. Treasury, and pays the taxes on th'
IN money so borrowed. II is not strang'
4. that legitimate business interests Ian
Ne guish. for all who can do 50, haston 4
m close up their operations and inves
r. their snrplus funds IN these iav0ro,
securities, and thus the working cap
5. ital of the country becomes scare
n and dear The manufacturer, witt
IN by industry and economy had arisel
Or from poverty, and amassed enough &
IS. build his factory and start his ma
Q. chinory, is not prospering. His good
al are unsold, his operatives discharged
IN and his buildings untenanted. Take
IN upon his property, taxes upon hl
IL sales, taxes upon the raw material
and taxes upon the manufactures
10 article, scarcity of customers, low pu
in ces, and the payment Of more thai
o. his share of the public burden, woigl
,e him down. lie cannot afford to bon
h. row money, for it is better TO be i'd
ir than TO be busy at a loss, and his ne
III profits viii not justify the payment