Bloomsburg democrat. [volume] (Bloomsburg, Pa.) 1867-1869, 1868-03-11
The United states Debt.

OUlleu StutcS OH lnc ISL VI tuIS uODtI
amounted to So, 527, ,O69,3l3, 1.-TWO thousand
five hundred and twenty seven millions sixty
nine thousand, three hundred and thirteen
dollars.) We have an idea that closer
scrutiny than any Secretary Of the Treasury
has yet given the financial affairs Of the
government, would show a much larger
amount Of indebtedness. IF our memory
serves us rightly in this matter, we think
We might quote the authority Of THAD
STEVENS for putting it at four thousand
millions when all claims against the govern.
ment shall be finally settled. But the sum
stated by Sec,e etary McCuLLOcH is large
enough to put us into brown study as to
how and when (if ever) it is to be paid.
This vast debt is legacy of the war, which
resulted in freeing some three or four mil.
lions Of semi-barbarous negroes and enslar-
ing some eight or ten millions of civilized,
intelligent white people. 1t was contracted,
VIC were told, to "save the life of the ma.
tom" but instead Of saving the life of
the nation,' the party in power that con-
tracted the debt and squandercd the money,
have so manned it by Topping off nearly a
third Of its members that it is now languish-
ing in the agonies of death, and, under the
empirical treatment to which it is subjected
by the quacks and impostors who have the
case in charge, must soon die outright, un-
less the people employ more skillful physi-
clans who will pursue very different course
Of treatment. But the questions now press
ing upon US are" How is this debt to be
paid?' "When will it be paid" "Ought
it to be paid?' We can see butone way Of
paying it, if it is paid, and that is by tara-
ton. The people arc already taxed on all
the luxurics and necessaries Of life, on all
the proceeds of thrift and industry, on sal
aries and notes and bonds Except the gov
crnment bonds for this verydebt, and mort
cages and receipts; on all they cat, drink,
or wear on all they can see, hear, taste,
smell or think Of; on everything, in short,
from a needle to an anchor, to an amount
approximating, if not exceeding three HIM
dretl millions otr dollars. One hundred and
fifty or sixty millions Of this tax are absorb
ed in payment Of the interest on the public
debt-the other one hundred and fifty mil
lions are consumed in supporting large
standing army used mainly in supporting
negro equality; on freedmen's Bureau
and its various branches, established for the
same purpose in supplying rations to lazy
negroes in e-constructing States, some of
which were constructed before most Of their
present re-constructors were born, in paying
a rump mongrel Congress for destroying the
government and enslavng and running the
country, and other like worthy purposes.
Now, if the people have resolved in earnest
to pay this debt, it is time they were look
ing into their financial affairs and dctermin.
ing each for himself how much more taxa
tion he can bear. Can they stand, and will
they patiently and patriotically pay twenty
per ccntum more-that is an additional six
ty millions every year? If so they can pay
it off in the course of forty-two years or
thereabouts, and satisfy their loyal hearts
at the expense of craving stomachs and rag
ged backs. Asto whether, ifpaid, it should
be paid in government promises, worth from
sixty to seventy cents on the dollar, accord
ing to the fluctuations Of the market, or in
gold, that is equally question for the tax
payers to decide. One thing is certsin,
while the mongrel negro thieves remain in
power, no matter what amount is squeezed
out Of the people in taxes, but small
amount Of it will be used in reducing the
debt. But now, as to the final question ::
Ought this debt to be paid? All honest
debts, whether of governments or individ-
uals should be paid. But is this heavy gov
ernment debt, this legacy Of a purposcly
prolonged and badly conducted war, this
vampire that is sucking the lifc-bood ofthe
people, an honest debt? Was not the war
tor the most part speculation, urged on and
kept up by oil descriptions of sharpers and
stock gamblers and spectators and swind.
lers and thieves, including the principal
members of the administration and of Con-
gress, the men who voted and contracted
the debt-all of whom in one way and anoth.
er managed to fill their pocket books to re-.
pletion with the money which the people
were told was intended to be used in con-
ducting the war? Was not this debt con-
tracted under false pretences, and is not most
Of it held now in government five twenties
and seven thirties and ten forties, by the
rascals who stole most largely, or made mil.
lions out Of large contracts at high prices
by the convenience of government officials
who participated in the spoils? .t
Certainly, if the debt is an honest one il,
should be paid. But the question Of its
honesty should be first settled, before the
people arc called upon to pay it either in
government paper or in gold. The idea
strikes us at this moment-a we think It
is worth suggesting-that the only way in
which the debt ought to DO paid, if paid ut
all, would be to tax heavily the bonds and
form q sinking fund with the proceeds by
which the debt could be gradually extin.