The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-09-28

property shall not pay all the taxes foI
the support of the Government, and al
SO pay the taxes to support the bond
holders.
Your lands are already taxed. If you
doubt it, look at your Sherff's receipts
if you should happen to own such an
article. The products of your farms are
also taxed, if you make more than a
bare subsistence for your family. But
the laboring man pays no taxes. Why
is it, then, that the laboring man can
not buy as much now for Que dollar and
fifty cents as he used TO get for one dol,
lar! 1t is because the extra fifty cents
pay taxes in some form. Why is it that
shirting which used to cost ten cents
now costs sixteen; and that coffee costs
thirty cents instead of twelve; and
everything else in the same proportionT
1t is because the difference is coz
sumed by stamp tax, license tax, manu-
facturers' tax, jobbers, tax, retail tax,
and income tax. And all these taxes,
with profits added, are paid by the con-
sumer of the goods, which accounts for
the extravagant prices you now pay for
everything you use.
Where have these taxes, this immense
revenue, gonsi This is a question
easier asked than answered. Should
the Democratic party succeed, the in
vestigations of a Democratic Congress
on this subject will be interesting. But
if the Republicans continue in power,
you will probably never know. We
know it has not gone to pay the public
debt, for it is increasing every day
nine millions in June, twelve millions
in July, and twelve millions i'll August.
And, fellow citizens, when and where
will it stop unless you change your
rulers.
THE REMEDY PROPOSED.
But must pass to the modes of relief
proposed by the Conservative party.
The issue presented by that party on
the subject of finance is clear and dis
tinct.
We owe tw6nty-six hundred million
dollars, of which twenty.one hundred
million are in gold-bearing interest
bonds, and of these bonds about sixteen
hundred millions, or three-fourths of
the interest bearing debt, are bonds
know as the fve-twenty bonds. These
bonds bear six per cent. interest, paya-
BILE IN gold, and were called five-twenty
bonds because they were redeemable by
the Government after five years, but
payable absolutely in twenty years.
| The law authorizing the issue OF these
bonds provides for the payment of the
interest in gold, but the bonds them
selves are made payable in the lawful
money of the United States. Now, what
was the lawful money of the United
States in which these bonds might be
paid' We find, that at the time these
bonds were authorized to be issued,
Congress also authorized the issue OF
the Treasury notes, generally known as
greenbacks, and declared them "lawful
money" and legal tender in payment
Of all debts, public and private, except
for import duties, and interest on the
public debt, payable in gold. Then
these bonds are fairly payable in these
greenbacks, or legal tender notes, which
had been declared by Congress to be
"lGWful money"
Thaddeus Stevens, the Chairman of
the committee on Ways and Means, the
committee that originated and framed
the bill, says they were intended to be
so paid, and lie says further Il quote
| from his remarks in Congress, made
shortly before his death) that "if he
knew that any party in the country
| would 90 for paying in coin that which
was payable In money, thus enhancing
the debt one half; if he knew that there
was ssoh a Plotform. and such n deter
mination on the part of his own party,
he would, with Frank Blair, vote for
another party; he would vote for no such
swindle on the Taxpayers of the
country; he would vote for no such
speculation in favor Of the large bond
holders and millioaaires. He repeated
even if Frank Blair stood upon the
platform Of paying according to con
tract, and if the Republican candidate
stood upon the platform of paying
bloated spectators twice the amount
agreed to be paid them, and of taxing
his constituents to death, he would vote
for Frank Blair, even if Il worse man
than Seymour was on the ticket"
This was what the great leader of the
Republican party said in Congress-the
man who originated and drafted the
bill authorizing these bonds to be
issued, and who, above all other men,
knew best it's meaning and intention.
will remark that there was another
class of bonds, known as the ten-forties,
payable in forty years, but redeemable
at the pleasure of the Government after
ten years. These bonds were issued
after the iive-twenties, and made pay
able, principal and interest, in coin.
Why was thisl Simply because, as Mr..
Stevens, who originated both bills, said,
the five-twenties were not payable in
coin, and the ten-forties bearing five per
cent. interest. were intended to be paid
in gold.
The Democratic party do not contend
that the ten-forty bonds or other gold
bonds, of which there are about five
hundred millions, are payable in any
thing but coin. But they do say that
the tive-twenty bonds, of which there
are about sixteen hundred millions, or
three .fourths of the interest bearing
debt, are payable in greenbacks or
"lawful money"
The Republican party say: "Pay these
bonds, principal and interest, IN gold,
and as the country cannot pay them
now, they propose to issue new bonds
to run for forty years.
The Democratic platform says: "Pay
off these bonds in greenbacks and stop
the gold interest, and to that extent di.
minish taxation, and at the same time,
make the remaining taxes easier to pay
by placing more money in circulation
to pay them with" But the Radical
party say we propose to initiate the cur
rency-to destroy values and to dis
courage business. But, my friends, we
propose to do no such thing. We Fro
pose to establish the fact by your votes
by the voice of the people, expressed
to their representatives and servants,
that these bonds are payable in legal
tenders, and then to pay them as fast as
it can be done, not to disturb values OF
interfere with business.
CIRCULATION-NoT MONEY ENOUGH TO
! PAY TAXES.
contend, fellow citizens, that the
country not only needs, but imperative