The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1868-10-01
TABULAR STATEMENT.

We will now close this branch OF our
subject, but let Us first recapituIate our
figures.
TABULAR STATEMENT
We have proved that the ordinary ex-
penses of the government for three years
and a quarter, including the suppression
of Indian hostilities and nearly 5 100000
0D0 for river and harbor Improvement,
have been at less rate than during the
last fiscal year Drlor to the war.
We have proved that to the alleged maximum debt
August [. 1868 81 ,699,5I
There must be added portion tie liza
bllity OF s92o.1sS 49, which existed April
GA the lst Ausust the sum of 5so,04f75s
AMI we have the actual maximum debt 1880
FORM OF THE DEBT IMPROVED.
If we analyze the form Of our debt a.
it existed Juife 80 1866, amounting net
to only s.. Ass. 900, 00O we find that 1t
was all substantially consolidated into
long loans, the payment Of none Of which
can he demanded before 1880, except the
currency debt represented bv the legal
tender demand notes amounting now to
only S356, O0O, 900
And for the funding of these notes the
Republican party passed an act which
failed to become law by the lachcs Of
Andrew johnson.
TIE PARRY or HONESTY.
We then claim that the Republican party
his proved its intention to meet the Ia
bilitics of the country by honest payment
AMI to remove from the people at the
earliest moment the curse of an incovert-
able paper currency have never been
entirely conviced of the necessity for the
issu. of the legal tender notes as 4 war
measure until | entered upon the review
of oar finances, Of which ain n3w giving
VOL the results.
challenge any one to deny that this
exhibit proves that the finances of this
cou ). have been manage by the Re
publican party with a SUCCESS never be-
fore known in the history Of the worlt.
Would that had the cloquence OF
Ola lstone, III ii [ might excite III you as
much interest ii these dry details az their
importance demands.
RESULTS ATTAINED.
From this review Of the finances Of the
last three years it is manifest tina Ii the
nation has submitted to excessive taxa
ton and mas made an extraordinary Ell
fort to free itself from financial embar-
II, ssm ant, it has something real and sub
stantial to show Tor IL.
1t has secured substantial relief from
the burden of debt in spite OF that worst
form of taxation upon consumers, that
In the use of inconvertlbie paper money
forced into circulation under the dire
necessity of war, and which the Repubii-
can party proposes to remedy by dong
Justice, to the note holder and making
their legal tender notes as good as gold
while the democratic party propose to
continue Indefinitely this burden by issu
ing greenbacks until they peeome worth
less.
TRUE PRINCIPLE OF FUNDING.
Here let me enforce the point so well
made bv Governor Boutwelin his speech
upon the Fanling bill. Congress should
never authorize IA loan even ut a low rate
of interest upon over ten years without
retaining the right to pay it at Its option
after that period We seem to have lost
orr financial courage since the war ended.
Dlring the war we issued hve-twenty
and ten forty loans, assuming that we
would want TO pay the whole or portion
AT an early date. The fraudulent propo-
etion of the democratic party, secoHded
BIZ a few weak Republicans, to substitute
bonds bearing no interest for go bonds,
TINS defrauded our creditors without pay
1nr our debt has. for the time beng,
prevented Us from awaiting ourselves oi
the privilege Of real payment and has
keep our rate of interest very high, Ght
let Us keep oar faith In the nation and not
give up the idea of paying the debt with
IN twenty or thirty years.
We have paid $500, 900, 900 OF our debt
In the last three years and at least S200,
900. 900 Of extra interest or guaranty, the
latter paid in consequence of the dlshon-
est purposes OF the democratic party
Oae Republican member of Congress II
Maine, one In Missouri, and | know no.
how many more have been or will be re
ieeted bv their constituents solely because
they were weak enoungh to be misled by
the false counsels of false leaders.
THE RyENUE LAWS.
We have collected this billion of dollars
under tax and tariff laws whose justltl
cation is IN the revenue they have yielded
Judged upon their own merits they APP
near to have been enected in haste. il
devised and calculated to make the bur
den of taxation much more ouerous thar
it need be. The internal revenue ha
been revised and made simple, the tar
i'll ncStt YET iubIc " NC Al oiN'
that as much or more revenue may b
deprived from it, with less injury to tht
people who pay the tax imposed by thu
tariff, viz the consumers Of toreigl
goods.
IF, then under all these difficulties, w
have In three years paid one-quarte
of our debt, shall we take fifty. forty, o
even thirty years to pay the other three
quarters ? Let us not listen to such
proposal let us not put upon our chi
dren We can so easily remove We hav
groaned under heavy taxation, but W
had not paid war debt and war interest
had we borrowed instead of paying-or
debt would now be over $3,S0O, 000, 00(
REDUCTION: OF TAXES.
We have reduced our taxes $l67. 900, Ot
per anum, and when George ii. Pendl
ton alleges that the taxes now amount
$500, 900, 900 year, ne wllfully asser