The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1868-09-29

wealthy classes in the Northeastern States, who
were continually seeking to shift all burdens off
their own shoulders, and to make money through
the action of the government. They seem, at
length, to have consummated their objects,
through the fundamentally of a plant and cor
rupt Congress.
Tobacco and Cotton alone, of agricultural pro-
auctions, are especially taxed, because they are
mainly Southern productions The culture OF
cotton had been so much crippled by the eman-
cipaton acts that it needed encouragement, but
they preferred to break a bruised reed!
As the cotton crop formerly furnished more
than half the exports of the country, afforded
the means of obtaining foreign goods without the
necessity of sending specie abroad, it was worth
hundred times as much to the country as the
Goldfish which they hire the New Englanders to
catch, by bounties from the Treasury A large
production of cotton now would benefit not only
the Government but the whole country, South
and North.
The Wealthy Boud-Ho1Rers pay no lures.
The Bond-holders are another class equally
favored During the war the Government to
raise money, issued Bonds, bearing six per cent
interest, which interest it agreed to pay in coin.
The Bonds were bought up by the capitalists, in
dollar When the war closed besides these
Bonds, the Government had outstanding large
quantities of Greenbacks and other paper, bear
ing no interest As it had no interest to pay
this part of its debt it ought, for the sake Of
the tax payers, to have been kept in that shape.
They have, however, systematically converted it
into these interest bearing Bonds What would
be thought Of a man who owed thousand dol
lars in such form as that it bore no interest,
who should voluntarily change it into debt
bearing interest, so that he would, in addition to
the principal, have to pay annually sixty dollars
as interest?
Again, while these debts were in the shape of
greenbacks, they rendered money plenty, and
aided the people. Suppose, for illustration, that
Ii has a thousand dollar Government Bond, on
which he is to receive sixty dollars annually, in
gold. He will merely lay up this Bond in his
safe, receive his interest from time to time, and
no body is benefited but himself; in fact the
community is injured by having to pay the in
terest. His neighbor i, however, has one thou
sand dollars in Greenbacks, and as he gets no
interest these, to make something he must
put them in circulation among his acquaintance,
by employing them to work for him, or by max
ing purchases. In this manner the money is
thrown into circulation, and the whole commu-
nifty is benefited. The operation of the present
system of the United States is entirely in the
interest of the capitalist and against the people
at large, who are suffering for the want Of money.
The Bond holders of the country represent
ing now capital Of more than two thousand
millions, are exempted entirely from paying
tax to support the Government. They merely
sit and draw in their interest in gold coin Their
demands, however do not stop here. They in
sist not only that they shall pay no taxes and re-
eeive their interest in gold, but that the princi
pal of their debts also shall be paid in specie
This was no part of the original contract, and
yet the Radicals say We are regulators, if we
do not pay them what they demand.
Uo~ tile Working Glasses are Crushed.
The profits of the entire industry of the coun-
try are not estimated as being above four hun
dred millions annually, so that the sum the Gov
ernment actually receives, to say nothing of
what is stolen by its officials is greater than this
and hence under this burden the country is
gradually being impoverished. The evil appears
the more appalling when you consider that this
burden has to be borne by only portion of the
people. Suppose that dozen soldiers, under
the command of an officer, were bearing with
on their shoulders, Il large piece of
timber, and while they were moving forward
with tottering steps, this officer to favor four of
the men, should tell them to get from under the |
log and leave eight only to carry it, and then,
still further to crafty the four, should order
hem to get up and ride on the log? This Illus
rates the case. The manufacturers and the
oondholders are riding on the log, and no wonder !
The Farmers and other classes are about to be |
crushed under the weight of the burden
Tile No"4o"y Of Banking Pfrjzcges-Thc
Cause Of tie Secretly Of Money
Another gigantic system Of oppression is to be
Drought to your attention. There is great and |
ust complaint Of the scarcity of money, not only
n the South, but even in parts Of the North.
Formerly, when Banking was general, money
could be borrowed at six per cent, and was thus
brown INTO circulation among the people. But
ately Banking monopoly has been created, and
'nly few favored institutions and individuals
Ire permitted to engage in the business The
o-caed National Banks obtain three hundred
Millions of dollars in the bonds Of the Govern
nent, which rest quietly in their vaults md give
hem annually eighteen millions, in sold, by
way OF interest. Two hundred and seventy mil
IONS (S2IO eco ,000) is furnished them in notes
" the Government to bank with and they,
hus armed, can alone engage IN the business
having monopoly they ask their own prices for
he use of money.
L had occasion to inquire, not long since, into
he manner Of doing business of some of the in
titutions located in this State aud was told that
hey were charging for loans at the rate of two
nd half and three and a half per cent month.
his amounts to thirty and forty per cent annual
ntesest At this rate the whole of the princin,l
'Ill be returned as interest in three years By
his system and exorbitant taxation the whole
ountry is being drained and impoverished. for
he sake of few wealthy capitalists You know
ow little money there is in circulation amono
S. Not long since respectable and indpstr;,