Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1868-12-19

. NNN ANNfn ~"
charge il hlly, within a definite
number # years, The Secretary
OF Treasury f6reibly reeommend,
1 legislation Of this character, nrd a
iustlv urges Ihat the longer I Il
/ deferred the more diiiieul, must be
come it's accomplishment We
should follow the wise Treeeden',,
established in 1889 and 1916 aud
without further delay, make provl'
sions for the payment " our oh'''
cations at ms early a period as may
6e practicable. The fruits Of their
labors should bo enjoyed ny our
citizens rather than used 10 bnlld
IN aud sustain moneyed monopolies
in our own and other lands onr
foreign debt is already completed
by the Secretary Of Treasury at
eight hundred and Rhy millions
| Citizens of foreign countries re-
ccive interest npon large portion
of our securities. and American tax
PAYERS are made TO contribute large
sums for their support. The idea
/ that such debt is to become per
mancnt. should hc at all times dis
carded rs involving taxation too
heavy 10 he hornc, aud the payment
once in every lG year Mt the pres.
ent rate of interest, of an amount
equal to the original sum. This
vast debt, if permitted TO become
permanent and increasing must oy-
identity be gathered into the hands
Of a few, and enable them TO exert
dangerous and controlling power
in the affairs of the government,
the borrowers would become SER
wants TO the lenders the lenders the
masters of the people. We now
pride ourselves upon having gwen
freedom to millions of the colorcd
race it will then be our shame that
forty millions OF people, by their
own federation of usurpation and
profligacy, have suffered themselves
to become enslsvcd and merely cx-
changed slave-owners for new task
masters in the shape of bond-hold-
crs and fax. gathcrors, besides per
mancnt debts pertaining to mon
archical governments, ard tending
to monopolics, pcrpetuatitlcs ana
class legislation, are totally irrecon'
cilable with free institutions intro
duccd into our republican systcm,
they would gradually but surely
sap it's foundations and eventually
subvcrt our governmental fabric,
and erect upon its ruins a mongrel
aristocracy.
1t is our sacred duty TO transmit,
unimpaired to our posterity, the
blessings of liberty which were be-
queathed to us by the founders of
the Republic, and by our example
teach those who are to follow us,
carefully to avoid the dangers which
threaten n free and Independent
people.
Various plans have been propos-
ed for the payment of the public
debt, however they may have vari-
ed as to the time and mode in which
it should be redeemed, it seems to
be a general concurrence as to the
propriety and business of a rcduc-;
ton in the present rate of interest,
the Secretary of the Treasury re-
commends five per cent; Congress,
in a bill passed prior TO adjourn
ment, on the 9th of July last,
agreed upon four and half per
cent; while by many three per
cent. has been held to be an amply
sufficient return for the Investment.
The general impression as the cx,
horbitancy of the existing rate OF
of interest has led to an inquiry by
tho public mind respecting the con-
sideration which the Government,
has actually received for its bonds,
and the conclusion is becoming pre-
valent that the amount which is
attained was, in real money, three
10. L. IL
oI .L 'oat uh,;na.;nns as ,rh;ch II ;ssned in
.ne vi, oo''as, +, lam rot bc denied That
ana an oy,rayouant nor
,a mSn.e ps9 e. II nso Of ths money
io,nad Iona"o ,rL;al yvos noner cnrron.
w 10" ',"st,,. IN, ~" aanno";stad holov tho
", roa.,y pePt; Pnt;s ca IL naae
raiuo u III, @ aans;dor' MAJ
,apparen, ""en w ea,,Lo .o ,rooS
oopu ,no'uo'o 49, Ill. H., orn n
ury' upon o'o1 uo.;". .:.;".io;.. 10y onrt
governnens govern, .,e'i;g5 secuai.,es ~ ~ PU M se,n
III soiu, Mnlon = ,; ~ .,.onnl. No.
equai 10 n'he per Peh''yl" eu..vn.s !
that tne bonus are : tns" ~, w" k,',,.a sa,.u
INTO capi.a' ior 'ne li'..'oi"' il'..'; DaaNs' :l
upon W.,'c, .ncsc ','ss,.u.,V n':,a .Y,sa,. Ss
.he,r c,rcu,a''o ,in, ,Iso, 90, - ~ ~
cent ,ntercs', ane '',a' nv $50 -.
e'hpt iro,'i .aAa.'on " S ."S ,snna,,,,
meil ana @ 'me a,. o'a'es u ,ha hanJ,
esai''iceu wv pei W. NJ IL. ~ ~ n.raon
Vi ene no'ue'' i" St'rrs oon, w.
aSgrreis5"Sse ~ "a seso;'.sg" .o..ssd r. aa1I
Whlch tuiay 'pe TeccNou uio" @"O"