Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1867-08-30
ht when the day Of election comes

Senator Sherman addressed an immense
audience a, Canton, Ohio, on the 2O'h inst.
After an argument in favor of negro sui
fraee. he turned his attention to the Ma
,ional finances, as follows;
.There are some questions not spec'ai-
lv involved in this canvass, but which are
very important. | can only allude to some
of them very briefly, and chiefly in reply
to what Judge Ranoey said to you the 9th
er day. They are financial questions grow
ing out of the war. You will observe that
their doctors do not agree at ALL Judge
Thurman, Jadge Ranney, Mr.. Vailand'g'
ham, and no doubt many others, talk about
debt and taxes and hanks merely TO excite
opposition, bu. tue Democratic party have
not and dare not take definite positions on
any of them. Until the last "nigger is
exhausted they will not meet fairly these
great questions. Judge Ranney is oppos-
ed to an increase of paper money, while
Thurman wants to pay off our bonds IN
more greenbacks, or more rags as he calls
them, and Vallandigham is in favor OF pay
ing the whole debt by an issue of green
backs. The question with you will be
whether the Union party, which is entitled
to the credit Of the wonderful success of
our financial measures, can bsst solve all
new problems as they rise, or whether the
public credit can be safely committed TO
party that during the war tried all they
could to destroy our credit. Let us look at
some Of these matters. They talk OF our
large public debt. Very well, our debt is
large. but what caused it? A Democratic
rebellion. We had to choose between a
great war with its inevitable Incidents,
debt and taxation, or, on the other hand,
the overthrow. Of the National Govern
ment. The Union party preferred war,
debt, and taxes,s to disunion. Did the
Union party unnecessarily increase the
debt, or impose unequal or unjust taxes
On the contrary our financial measures
were as successful as our military meas,
ures While all the efforts of the Demo
cratic party impaired our credit, made il
difficult 10 negotiate loans. prolonged the
war and increased the debt; and ROW thai
the war is overswhat party is likely to in
| IL, W. h, ba h., FORE
US that. the Union party has not only pre-
vented an increase of the debt, but its re-
duction has been steady and rapid. Or
the 3lst of August, 1865, it was 81 757,
903, $50; en- the 1st day of November
1866, it was S2,55f, 424,l2l, or a reduc
ton of S206,379, 565 on The LIST day 0
August, 1867, it was 2,511 ,306, 436, or
total reduction of S246, 497 $50, in les
than two years, and during these two year
we paid off beside an immense amount Q
floating debt, the debris of the war. Sup
pose the Democratic party now in power
who does not know that the debt would b
largely increased? The only Dome
cratic States, Kentucky, Maryland On
Delaware, are now demanding untold mil
lions as pay for their slaves. Every Dem
ocrat is committed to their payment. A
over he South they are preparing claim
for injuries during the war. A Democra
ic Congress would grant them all. Nea
ly every Democratic Senator or Membe
has committed himself to principles whicl
if adopted, will add TO your debt $500
100000 TO 81 ,000000,000. For this rea
on they constantly exaggerate the amour
of the public debt Let US see what it i
1t is liquidated, and we know to dolla
the amount. read from the last oiiici
statement of the Secretary Of the Treasl
ry. The aggregate debt August VIZ
$2,5ll 500, 436, but Of this $394,7l9,56
is in greenbacks and fractional currenc,
not paying interest, leaving the intere
paying debt $5,ll4,00000 Now if
= have my way this debt will not be increa
ed one dollar on any pretense whateve
! but will surely and gradually be paid Of
| 1t is said that this debt is not subject
taxes, and this discrimination is unjust
} other taxpayers. Now, this debt or prov
, erty in income held by cur ciiizens is sui
, ject to taxes by tie United Sta es. Coz
gress may impose taxes on it as it does @
other property or income. These bono
now pay income tax. But it is not sui ie,
, TO State tax. This is true, but who's
4 fault is it? Did the Union party max
: this exemption Not at all. 1t is mad
5 by the Constitution Of the United State
Y for which our Democratic friends, when
t suits their purposes, profess such profoun
e difference. The Supreme Court of I'll
3 United States as early as 1919 decid,
r that bends of the United States are n
t subject to any tax or under State author
8 y. This decision has been followed in
j multitude of cases since. 1t so happier
: that every Judge that has sat on the S.