The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1868-10-29

| friends advocate the paying of the nation
al debt in greenbacks, Notwithstanding
the fact that when the people of this
Government and Europe we're called up
on to lend the United States money with
which to carry on the war for the preser
walton of the Union they were prom ised
that the principal rs well as the interest
&as to be paid in gold. IF after the
elapse of such short time the Govern
ment would not pay the debt in gold, but
paper money, it would, in his opinion. be
not very honest transaction and would
ruin the credit of the Government Chase
when Secretary of the Treasury, and each
| of his successors, have all declared at diff
ferent periods during their terms of of
fee that the bonds of the Government
were payable in gold. The Congress Of
| the United States was in session at the
time these letters were published to the
world, and if the democratic Congress
men believed that the agents of the Coy
| eminent were violating the laws under
which the bonds were issued by promis-
ing payment of interest and principal in
gold, it was their solemn duty to protest
against these acts by the agents OF the
United States They agreed with
the Republican party at that time that
the bonds as well as the interest was to
be paid in gold. But now they have
changed, and their platform, their ora
tors and their papers, are all in favor OF
paying the debt in paper money, which is
to say the least, partial re reputation, a
sWlndle and co ntrary to the agreement
under which the bonds were sold. The
reason our Government was obliged to
pay such high rates of interest was from
the very fact that the democratic party
was running our credit by advocating
partial reputation, and notwithstanding
that our Government was the richest
upon the earth, the men who have money
to loan, demand few per cent. more in
terest because there is possibility of the
democratic party coming into power; a
party which advocates reputation. The
mere indication of Grant being our next
President, as shown by the October cleo
lions, caused gold to fall five or six per
cent This is proof enough that from
the very day Grant is elected our Gov
eminent will be able to borrow money al
very low rates of interest with which to
pay off the high interest bonds and save
thereby many millions to the Govern
meDt. With Governments as we'll as in
dlviduals, honesty Is the best policy.
The Republican party is charged with
extravaganza in the management of the
affairs OF the government and that the
public debt is increasing. Let us see
how that is. When the war closed the
government owed about $3 800, 900, coo.
The last statement of the public debt, is
sued by the Secretary of the Treasury,
shows the debt tdbe, in round numbers,
50, 500, 100000. From this you will see
that in addition to defraying the ordinary
expenses Of the Government, paving the
interest on the public debt, we reduced
the debt itself about eight hundred MIL
ions Of dollars, or about one quarter of
the entire debt. All this has been &C
complished in the short time of three
years. The taxes during this time have
been reduced from yeer to year, fact
known by all. This certainly does not
show extravaganza by the Republican
party and proves conclusively that the
charges preferred by the Democratic par
ty are false.
With regard to taxation the democratic
orators and papers tell you that the Re-
publican party obtains the taxes for the
support OF the government from the poor
men. Let us see how that is. The gov
eminent needs about 300, 900, 600 a year
to pay interest on the national debt and
detray the ordinary expenses. This es-
innate is little too high, but neverthe
less granted that such an amount
was needed. In order to obtain this
amount the Republican party levied a tax
on imported articles, such as wines, silks.
cloths, &c. From this, the government
realizes about $17O,OU,O0O. Now he
would ask, if a tax on wine, on silk, on
fine French and English cloths, was tax
ing the poor? Certainly not The poor
don tpay forsuch articles and ofcourse paw
no tax on them. This disposed of anoth
er copperhead falsehood Again the
government obtained over 800, 900. O0O
by an income tax. Now what is the
income tax? Every man who earns more
than $4,000 year pays an income tax Of
| per cent. and if man has an income
of $40, 900 he pays still higher per cent
From this income tax the government
receives over 100000, 900 in the treasury
and he would like to ask his democratic
friends how much tax of this amount the
poor man paid? And in this manner,
the government, under Republican rule
obtains the taxes which are necessary to
carry on the government. 1t will be
seen that the discrimination is In favor of
the poor man and not in favor of the rich
| as democratic papers and orators tell you.
Now let us see what made the taxation
the democratic party proposes. Read
the 4th section of their platform, which
declares:
Fourth. Equal taxation of erey species
Of property according to ats real ralue, IN
Guiding Government bonds and other