The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1868-08-12

btlis ldttig paNStN D9 OOukftoSs NAt1uulhE |
the debt 30 to 40 years, and providing ex-
emptiOn from taxation. The most OF US
will be in our graves long before that peri
cd. Until the day OF our deaths. we will
be ground down by taxation 10 pay the in-
terest on this great debt at the rate of
Sl00.aOe, 900 or more each year, and hav,
ing paid twice the amount Of the principal
" way of interest, the same old debt will
still remain to burden, shaokel, aud | may
say enslave our children, from generation
to generation.
You talk of reputation. / tell you this
is the way to bring it about. This debt
must be paid by the real laber and produc-
ton of the country. Show the people how
it can be lenestly paid in some reasonable
time, and they will put their shoulders to
the wheel, and tod and sweat in order to
lift the burden But | warn you that it
will be dangerous to convince them that
they must be slaves to this debt all the
days of their lives. and their children after
them from generation to generation. You
thus destroy all hope and motive tor ezer-
ton. 1t won't do to tell pestrFity that We |
did our share in making the debt, and that |
their snare is to pay il.
l. BY paying off the 20's on this plan, |
we viii save $500, 100000 of principal.
2. We will save $l00, ,009 yearly in
terest.
5. We will lower our taxes by briagng
this vast sum on the tax duplicate.
4. We will stimulate business, revive
trade. and make it easier to pay our taxes
5. We will save $30 900 900 yearly by
taking up the Bonds Of the National Banks.
G. And by reducing the stan ling army to
/ a peace basis, and wiping ont the niEgcr
| bureaus, we can save another 500, 900, 0O0
7. Follow this up by honesty and econo-
my in the administration of the govern
ment. and we believe the debt can and will
be paid, in good faith, according to the law.
This is what we ask, and it seems ''nass.
ing strange" that we should be denounced
as repudiators for it.
My competitor, Mr. Bingham, has taken
strong grounds in in favor of the payment
of the bonds in gold. He admits that the
letter of the law does not require it, but he
says, ''it was understood in Congress and
out of it, at the time, that they were to be
paid in gold ''He further says
81 propose, for one, to maintain, so far as
in me lies, the plighted faith Of the nation.
The nation that won't keep faith in its con-
tracts with its own citizens, both in letter
tenders. l said in that contest,
when we were about to issue this paper
money, and repeat it to-day, that would
not vote for the issuance of a single dollar
of paper money, ora single bond to be f3>
ken by the people, unless it was distinctly
understood that at some future time or
other, as soon as the national exigencieS
would permit, the same should be Tedaeneed
in gold on SitUer."
Equal TAXATION.
The Radical party also takes issue with
us on the question Of equal taxation. They
are opposed to the equal taxation OF all
.. property including Government Bonds.
They would exempt Capital and put the
whole burden on labor. The same anoun
/ of revenue must be raised for the govern
ment, and Of coUrse, when you exempt onl
class froRl taxation, yNu mast necessarily
add to tie burden of the others. Yor
: thus diminish the number, and increase
the burden of those who pay the taxes
: All who receive the protection Of Govern
: ment should pay their just share, in pronor
ton to their ability, for its support Blu
this Republican system Of exemptng tht
wealthy Bondhoder, who receives the mos
:, protection, and who is most able tc pa.
= and compelling the labor Of the country tt
shoulder his burden, in addition to its own
!, which is already too heavy to bear, is 81
: palpably unjust and monStrous, that n
. free people will long endure it. La on
p local taxation, there are certain humane ex
emptons allowed to every family; but thi
: does not destroy the principle Of equality i
!, taxation, when all above the exemptions
y are equally taxed.
- y There is no good reason why Goyernmer
! Bonds should not be taxed. Our Stat
:" bonds and securities are taxed, and yet the
q nav less interest 1t is said that it is no
~ ~ legal to tax them. But there can be n
- question of the power of Congress to prt
- vide for their equal taxaticn. And VIII
~ should they not be subject to state and mi
nicinal taxation, and thus lessen the tax;
=, ton on other property in the Township
I'd and Counties where the bonds are helC
<, The reason for denying the right, in tt
OF leading case Of Mccullough, vs. State
ne Maryland was, that the power to tax anti
ne ont limit implied the power to destroy,
n tax out of existence. But suppose CO.
er gress should pass law allowing them
y be taxed at the same rate as other proper
ne iu the same locality then this reason cea
ne es: And when the reason ceases, the la
an founded therein, should cease also. III
y, principle Of equal taxation in the trl
| Dllnclpl6s anu HDSDlulGly DGCPSSaTy ~ u
T. harmony and welfare Of all classes. b
) this is also denounced as reputation al
- as breach of the pllghted faith Of the n
rs ton.
to On this question Mr. Bingham says
''e sT}ut say these gentlemen, we are f
4r' equal taxation We will tax every ma
ng alike and break the plighted faith of til
'sS nation. " v You will send your ta
nd gatherer, will you, after that manned he
,ot who lost his leg on the nights of Getty
= burg, when that rocky alter smoked wi
:, the blood of the slain. Will you ask til
u man to pay ten or fifteen dollars tax on t
ny, Bond which you gave him for his lost lin
II You will do that in the name of democra
o. will you2 1t is simple robbery and y
IA know it, sir. 1t has no more dignity II
: decency in it than the dirty work Of 'o6bt
i, hen roosts or sheep folds"
or Now, aside IRON the oratorical flourish
iLpaa this don't think there is any thing in
iao to induce the people to lengthen the hou
,;r 10 of their daily toll in order TO pay the Bo
'm holders Just share Of tax on twenty,t'
,ao hundred millions in addition to their own.
a. Besides, you we'll know that the soldit
~, who are able to hold government bonds g
ias ia few indeed That soldier, however, W
'Is ,es could save enough to buy little HON
NJ stead, is taxed on his home, he is taxed
oo. o his wagon and horses, his COW and his pi
,er ee My Republican friends see no wrongiG tn
H. Why should he who is rich enough to he
,a, 70. bonds be in better position than this s
az der?
est est Mr.. Bingham further says: "These Ge
,n tlemen, who talk about equal taxation ha
~ wonderful bowels of compassion for {
he niVioaatres, whose ships ride on every s
IN under the protection OF your flag, becar