Democratic enquirer. [volume] (M'arthur, Vinton County, Ohio) 1867-1873, 1868-02-06
NEWS AND MISCELLANY,
t'The Volso Of one CRYING In Iho DeVsrt. !,

K~--f@-~ NfSA@'A%A~A a~NA~FAAl
To restore repose aud prosperity to I
country 80 extended, distracted, anC
weighed down with taxation, National
Statel Countyl and Municipall as ours
''would, even inthe attempt ennoble thc
fights OF the highest Of genius, and
obtain for the meanest understanding.
National debt,two thousand Eve hun,
dred millions Of dollaEsl National, State,
County, Municipal and Tariff taxation,
ono thousand millions annuity I ! United
States 6 per cents 70l English pei
cents SOL National Banks receiving
per cent. from the General Govern
ment, and per cent. from their Gus
toners, (hity-two millions annuallyD-
Your State and National Legislatures
controlled in the interest Of Usurerl
and Bondholders, demanding an I'm.
mediate return to specie payments; to
enhance the value OF their securities
eight hundred and forty millions, by
depreciating the market value Of thirty
five billions Of products, farms aud
factories, 80 per CENT, ($l1. $3.50, ,0O0,-
900 J j aud yet the tax payers are
taught to believe that their finances
are ably managed Yes, in the interest
Of National Banking and Bond. holding
interests. Alarmed, uneasy, and
aroused to actionl servile statesmen,
bought up; venal press bribed, and
selfish Representatives elected Are
they afraid Ola people unable to fll
the lobbyl give seductive entertain.
ments, or buy up pens and pressesl
"'Tis conscience makes towards OF
u.s." ''Eyery tree that bears not good
fruit shall be cut down.
When the life of the Nation was in
danger, it became necessary to get rid
of State banks, under which, in sixty
four yeara we suffered eight Bank sus-
pensions, with their vast train Of ruin
and bankruptcies, entailing pecuniary
losses greater than even war inflicted.
And now, with Nation on the verge
of bankruptcy a manufacturing popuia.
tiOn on the very brink OF destruction |
and threatened with a repudidtioa and
contraction, the remedy is to perfect the
financial system which saved the Union,
and il well administered, would restore
repose and prosperity to united con-
federacyI
To relieve the people from National
taxation, let the pro2is on circulation
flow into the Golfers of the Estion, and
not into the vaults Of National BaHksl
and create market at home and at Dor
for three per cent. United States bonds
exchanging these for individual six per
cents, secured on real estate, internal
improvements, etc., of twice the value
OF the sums loaned thereon, and guar
anteed by County. State and National
Endorsement With one hundred and
fifty millions annually, from imports,
aud three per cent profit from ex-
change Of credits, National taxation
would cease, and your United States
Treasury Notes rise to par in less than
two yearsl To do this we must perfect
our financial policy, Danish usuTy, and
restore the Union by binding aud
all interest together, build
ing0p in this nov world the palace of
an Industrious, commodious and high.
ly civilized social life.
With United States legal tender
notes redeemable in coin, and receiv-
able in oil contracts by the general gov
ernment, (the great dealer in money,
and convertible into three per cent.
United States bonds, you would dou.
BILE the present circulation, instead of
contracting it, and encourage industry,
instead of iDjuring it.
The Treasury note represents all the
products Of capital and labor, and gives
the endorsement Of Government, not
to one but to all the products Of labor
and capital.
To protect the manufacturer from,
his greatest enemy, dearness of money,
relieve the people from National taxa.
tion, and liquidate our National debt,
We should reorganize our financial
system on tine model of the human
body (the work of God,) giving to the
body politic an organ like the heart,
capable of maintaining continuous
exchange Of all the products of capital
and labor, in which consists the life
OF modern societies.
The profits on circulation given to
to usurers and bankers, (parasites on
the body politicl if made to flow into
the treasury of the nation, would pay
the interest on the national indebted
ness and discharge o legion Of custom
house officers and tax gatherers.
What is wanted is not National banks
but mixed currency of coin and trea-
sury notes redeemabls at your custom
houses lat the present rate of discount
and one per cent. less discount per
month"; until specie payments are re.
sumed, and thenceforwafd keep in cir
such an amount of q. s. treas-
ury notes as can be kept at par at a
cost Of, say three per cent. on the
whole amount in circulation, aud loan
the credit Of the general government
three per cent. bonds, interest payable
semi-anunally) secured on real estate,
internal improvements, &c, of twice
the value of the sums loaued thereon,
refundable in twenty equal semi an.
nual iustalments, with six per cent. in.
terest. 47
Thirty-seven millions Of people,
with improved machinery capable OF
doing the work Of seven hundred mill
ions, would, ere long, create q demand
for government credits to twice or
thrice the amount of the present ma.
tional debt, thus relieving us from
oppressive taxation. In Ave years our
government would cease to borrow
money.
With treasury notes redeemable in
gold and government securities three
per cent. more valuable than gold, we
would bound into a life of industry.
Under the State bank system money
in the Missouri and Alississippi Valleys
was wont TO be loaned on real estate se-
curity at 80 per cent. per annum, ex-
u. a