Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-08-11

burden upon the industry, this drain upon
the resources of the working people, the
Republican party propose to continue
without any change Tor several genera
tlons, for they say in their platform, The
National debt, contracted, as it has been,
Tor the national salvation, should be ex-
| tended over fair period for redemption"
Why? Because they have not the courage
1 and manliness to gIapple with the question
/ as able statesmen should, and because they
are working in the interests of the bond
holders, and not for the interests of the
producing classes. ili5
4 There are about 50 500 100000 in bonds,
all ofawhich are held by the capitalists of
the country. The interest on them amounts
to say $l50,000000 year. AS this interest
| has to be paid yearly, we are entitled to
compound it in our calculation. By COM
pounding, this interest alone, in the short
space OF twenty-five years, will amount to
the enormous sum of $6,000,000,000, or
nearly three times the amount of the prin-
cipal of the debt, and vet not dollar of
the debt will be paid. Within orty-four
years the compounded interest will have
reached the fearfully great sum of $50, ,000,-
OOO0OO in gold, sum probably equal to
| three times the amount in gold value of all
the property in the country.
/ Thus,by following ous and adopting the
| policy upon which the Republican party
of Grant, we shall draw from the resources
OF the poorer classes as mere interest, all
of which will be paid to the bondholders
to support them in idleness and luxury,
about fifteen times the amount of the prin-
cipal of the national debt, and that too,
without having paid one dollar of the debt,
while we poor men of the nation shall also
have paid the taxes of these same bondhold-
ers. VIII not such a policy enable the bond
holders to absorb the wealth Of the cOun-
try, and reduce the poor men to a condi-
ton of slavery far worse than that of any
country of the old world
Now the Democracy propose to pay off
these bonds-al1 of them but the 10. dos
in greenbaeks, as fast as the commercial in
terests of the nation will allow, and also
subject the capital of the country to taxa
ton so that it may bear its share of the
bardens of the Government; and thereby
relieve the Industrial interests OF the nation.
That we have the right to do so cannot be
gainsayed by any honest man who will ex-
anime the laws under which these bonds.
were issued. The bondholder paid for his
bonds in greenbacks. and should be paid
back in the same Kind of currency. Ii.
greenbacks are good enough for the SOL
diers, and the soldiers widows and or
phans, in God name, / say, they SHOULD
be regarded as good enough for the bond
holders, whom the, soldiers, by their patri-
Otto service, protected and say ed from utter
destruction during the war. cghT oto1i
Ia Therefore, i say that, although 1 have
always acted with the Republican party,
yet cannot longer support their policy,
but with the Democracy say to the bond
holders, we have made the debt together,
and let us pay it together, each dollar of
capital, ;noImatter to whom it may belong,
paying its just proportion of the public
burden. 7EyOF-7 ssss-s.-,sTeA. S. BLAKE.
GOSHEN, IND, July IL, 1868. aqadT