The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1868-10-28

making total Of $3.50, 900, 900 for these two
items Of expenditure alone.
| Retrenchment has become an absolute
necessity, or bankruptcy will soon overtake
us, and involve the country in its pAralyzing
results. If, however, u wise economy be
adopted, the taxes may soon be materially
redueed--not merely for the benefit Of few,
but 10 the interest of all. A revenue would
remain sufficient for the administration ofthe
government as well as for such reduction
Of the public debt as would, in few years,
relieve the people from millions Of interest
now annually drawn from their resources.
The idea that the debt is to become Perma'
nent should be discOuntensnced. Rs involv'
ing taxation too heavy 10 be borne, and, the
payment Of an amount in interest, every l6
years, equal to the original sum. The grad.
ual liquidation Of the public debt would, by
degrees, release the large capital invested in
the securities OF the government, which,
seeking remuneration in other sources Of in.
come, would add to the faith Of the nation,
upon which it is now q great drain. This
immense debt, if permitted to become per.
manent and increase, must eventually be
gathered into the hands Of the few, and en-.
able them 10 exert dangerous and CONTROL.
ing power in the affairs Of the government
The debtors would become the servants Of
the lenders; the creditors the masters Of the
people.
Ii is our boast that we have given free
dom to 5000, 900 slaves. II will be, then, ouz
shame that, by their own federation Of usur.
patton and proagacy, 10000, 900 Of people
have enslaved themselves, aud exchanged
shareholders for new taskmRsters, in the
shape Of bondholders and tax gatherers.
Hence the vital issue, whether congress and
its arbitrary assumptions or authority, shall
supercede the supreme Law Of the land ;
whether, in time of peace 1.-THE country shall
be controlled by multitude Of taI-collect
ors, and standing arny,-the one almost
as numerous as the other, and making the
debt permanent burden upon the produc'
tive industry Of the people or whether the
constitutions with each and all Of its guaran.
tees shall be sacredly preserved; whether
now, as in 1889 and 1916, provisions shall
be made for the payment Of our obligations
at as early n period as practicable, that the
fruits Of their labor may be enjoyed by our
citizens, rather than used to build up aud
sustain a moneymonoPoly at home and
abroad The contest is not merely who
shall occupy the principal offices in the PEG.
Plies gift but whether the behests Of the fed.
eral constitution shall be observed and main
tanned in order that our liberties may be
preserved the union Of the states restored /;
that our federal system may be unimpaired ;
fraternal feeling be rc.establshed that our
national strength may be revived; the ex.
penditures diminished that taxation may
be lightened, and the public debt once more
extinguished that it may not injuriously
affect the lives, prosperity, and morals Of the
nation.
Believing that, for the redress Of the great
wrongs and the correction of the many abus
es under which the country is lsboring, we
must look to the people, and that in them il
our hope, | am, very truly,
Your friend,
ANDREW JOHNSON.
| TO GEN. THoHAs EWING.