Council Bluffs bugle. [volume] (Council Bluffs, Iowa) 1860-1868, 1868-12-31
VOLUME XVIII.
peculnfions Il ehargez up and made
! x,srf ~ fha dehf

peculntione b charged up and made
part OF the debt.
This Il only one of tens of thou
sands Of instances, In which the
Government was uefrauded I; and
shows distinctly and impartially the
manner In which this so-called debt
was contracted.
There is, prinsd fdeSe, violent pre-
sumption that it Ia fraudulent. The
total debt of England, made from
1883 TO 1864 period OF l80 years
"a not more than ours, when we add
10 the latter the State aud municipal
Indebtedness, and the claims yet 10
be allowed. In that time England
founded new dynasty, built the
grandest navy that ever plowed the
seas, subIugated India, with her
hundreds of millions of people, pros
ecuted war against the American
colonies for seuan years, at a distance
of three thousand miles, and for
twenty years waged war against
Napoleon, and furnished allied Eu~
rope with the money which sus-
tanned the gigantic eontiict with the
great adversary.
The American debt lso- calledl was
created In q period OF four years, In
a war waged at home, and at the
same rate at which the British debt
was made, would only have been
oyae forty-fffh part Of TIE present dg-
0regtats. That is to say, granting the
present dabt 10 be leu thousand mils
lions. It would, If it had increased
at the same ratio with the British
debt, have been only eighty ea0ht ma
lions of dollars. Can any man an
swer why it should have increased
more rapidly? Is not this fact alone
| suggestive of fraud on a more stu
pendous scale than was ever perpe-
| trated before in the woridY
Another fact, which makes Yil-
| lainy q conclusive presumption al
| the first glance, is found In the enoE-
NOUS fortunes accumulated by indI-
yiduals in the public service;
For example, jay Cooke boasts o
fortune of thirteen millions Of dottttrs
>iS <aE ~Gashieh MAS made during the
| war by his official connection with
| the Government, and eUeTy cent o.
tChich - notO Charged agdiasf he psQ-
pie as part Of their de6t,
| In four years there are forty~eighE
months, and Q brief calculation
shows that Mr.. Cookies wages
amounted to ttco hundred and sirty-
ttao thousand .fus hundred dollars per
| 8aoask, ut which rate this debt as-
sumes the people to have engaged
and agreed TO pay him!
| Mr., Cookies example is only one
| of many, wherein fortunes varying
from 800, 900 to many millions have
been made, by every means that vii
lainy has ever devised for the per.
petFation of fraud and every dollar
of these infamous aceumulations Is
charged against the people, and
makesa part Of the pretended debt.
Ii would only require three hun
| dred and seven sharpers such as Jay
Cooke to absorb and hold in their
own right the Jour thousand millions
of dollars which it isnow audaeious-
/ IS cTafulest that gtYx people owe
TITUS It Is Clear That the so-calIed
debt has not q single element of vl~
lidity; that it is claim which no
court would enforce; which neither
/ law nor equity would make valid ;
and that it il, therefore, the right
! and the duty Of the people TO cast
of, disown and repudiate all obliga-
| ton tn pay it.
| 4 few more considerations con-
nected with this outrageous assump-
| ton of the bondholding banditti,
| and We shall have done for the pres
ent.
Nopeople ever did, since the world
began, or ever will until the world
shall end, pay the principal OF an
| Indebtedness so huge as this.
The annual interest, if collected,
| would constitute charge upon the
industry of the toiling millions,
which would reduce them to servi
tude as degrading, as harsh, and as
hopeless as that suffered by any pop
ulation under any desPotism in
Europe,
A debt OF such magnitude as this
necessarily and inevitably changes
the very nature of our Government.
1t begets an aristocracy which has
not even the quality Of nobility to
mitigate Its hateg1Iness-
The iusyita BILE tendency of such q
debt Is to enable those WHO have
much to grasp more, and 10 force
these who have little todo with less.
1t impoverishes the laboring classes
with fatal and insxorable certainty.
Ii cuts off the pcor mans sons and
daughters from all hope of wealth
or honorable position In the world.
1t consigns them to ceaseiess labor,
and to the degradation WHICH Is the
sure accompanim ant of life, II, from
the cradle to the grave, it be cease
less round of dependent toll, and
weary and heart breaking struggle
with destitutioa.
Therefore IL Is that we disown,
disclsiW and cast of any obligation
to pay the debt.
Therefore 1t is, in the name of JUS
tica, of Law, of Patriotism, and of
the toiling millions, now and TO come,
that we hoist the standard of REPU~
DTATIoN Invoking God to bless.
and good men to aid us In bearing 1t
aloft
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