The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-02-01

tional Banks now havo three hundred and
thirty. eight millions 0 fdollars Of U $. bonds
deposited i the federal Treasury as security.
Over three hundred millions of bank paper
is issued on the faith of these bonds. The
bankers take the bank notes, 60 to their re.
spective homes, establish banks, loan the
notes to the people, and receive IN annual
interest of ten to twenty per cent. from the
borrowers.
Instead of all this, We would have tue
1898, 900 900 of above bonds, l~iquidatcd
with greenbaeks--these ~greenbacks taking
the place of the National Bank circulation.
Tho effect Of this would be That the above
seventeen hundred millions of intercst,h bear.
ing bonds would be reduced to fourteen hun.
bred millions, and about twenty millions of
dollars would bo saved to the Government
from the interest which is paid to the bank.
ers for the S33s, 900 900 of bonds aforesaid.
If, now, we tako these $50, DOC, 900 interest
thus saved, and add it to tho Sis, 600, 900 in
terest which may be annually saved by con-
tinuing the $500. 900 900 of "unliquidated
debit in its present form, we will annually
have sos, 100000 in gold and this sum
converted into gfeenbacks at l40, gives
about one hundred millions of dollars per
annum ; and with this latter sum added 10
the $3.50, 000, 900 "more than is needed for
Goyernment expenscs'-according to Hdr.
per's Weekly-the present national debt
could be cancelled. in from twelvet to fourteen
years, without adding one dollar to the pres
emit rates Of taxation, or q single dollar to
the circulating medium Of the country.
Nor is this all. This debt p fund
might be very materially increased and II
the Democracy were in power it doubtless
would be augmented. From twenty to thir
ty millions of dollars are annually expended
on the ''Freedman's Bureau" Place thu
Democracy in power, and this Bureau vii
be abolished, and lazy, pampercd negroes
will be compelled to earn their own livelihood
instead of being clothed, fed and educated
with money wrung from the white laborcrt
of this country. 1t costs all the way from
$3.50, 600, 900 TO two hundred millions o
dollars annually to support the 1--WE militar,
satraps of the South. and the army unde
them but lot the Democracy assume til
: reins Of power again, and these satraps vii
be removed. and the soldiery under then
d~isbanded, and thus this large sun will ei
, Their be saved or applied to the liquidation
the public debt. Let the Democracy com
into power, and the present tariff laws wi.
. be so modified that the consumers Of til
country would pay into the pockets of EasI
ern manufacturers three hundred millions
4 dollars less than they now do and yet til
\ Government would receive seventy-fve {
q one hundred million dollars annually moi
than il now does from foreign importation
The charge that the Democracy are in f
= vor of a policy that will produce ''spccul
ton. panic and ruin" we hurl back into Il
teeth of the Record. The Democracy mac
70 this country all hat it was prior to 1850 :
this fact can be proved by the history of IL
= country and we maintain they arc Il
only party that can successfully and prope
ly govern it in the future.