The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-10-31
LETTER FROM PRESIDENT
JOHNSON.

The following was received by tele.
graph from Washington City, on last.
Monday;
WAsnINaroN, Oct. 25.--Thc Prcsi.
dent has addressed letter to General
Thomas Ewing, in relation to the nation
al expenses Of tho public debt. After
recapitulating briefly the historys Of the
public debt after the revolutionary war
Of 1872 and the Mexican war, he says
the debt 10 February, 1866, was twenty
eight hundred millions, the expenditures
during the last three years have been re.
spcctivcly five hundred md twefty-thrcc
millions, three hundred and thirty-six
millions, and three hundred and seventy.
millions. lie proceeds to say thcse start
ling facts, thus conciscly stated, suggests
an enquiry rs to the cause Of This increase
in the expenditures and indebtedness Of
the country. During the civil war the
maintenance Of the Federal Government
was the one great purpose which auima-
ted our people that economy should al
ways characterize our financial operations
was overlooked in the great effort Of the
nation TO preserve its existence many
abuses which had an origin in the var,
continued to exist long after il had been
brought 10 triumphant tcrmipatjons
The people having been accustomed 10 II
fash expenditure OF the public money for
an object 50 dear to them AZ the prcserva.
ton Of tho integrity Of their free institu
tions Of the country, have patiently borne
the taxation Of most oppressive charac.
ter. Large sums Of money continue to
be cxtoricd from the people and squan-
dered in useless extravaganza. Euor-
nous expenditures are demanded, for
purposes, the accomplishment Of which
requires large standing army. the per
version Of the Constitution and the sub.
mission of the States to negro domina.
ton, with n military establishment, cost
ing in time of peace not less than one
hundred millions annually, and debt,
The interest Of which draws one bundred
and fifty millions nually, we have two
hundred and fifty million for these two
items Of expenditure. Retrenchmcat has
become au absolute necessity or bankrupt.
cy will soon oyertake Us and involve the
coubtry in paralyzlng results. II. how
ever. u wise economy should be adopted,
taxes may soon be no'ninaily reduced
not merely for the benefit of the few. but
in the interest Of all, and that revenue
would remain sufficient for the admins.
tration OF the Government, a. we'll as for
sueh reduction ct the pablo debt n
would in few years relieve tho people
from the millions Of interest now annual.
" drawn from them. The idea that the
debt - 10 become permanent should be
discoun,enauced as involving taxation too
heavy 10 be borne, and the payment of am
amount Of interest every fIic, years
equal 10 the original sum. The gradual
liquidation Of tho public debt would by
degrees release the large capital invested
in government securities which would
seek remuneration IN other sources of ia
come. and would add much 10 the wealiII
Of the nation, upon which there il now q
great drain. This immense debt. ii per.
mi,tci 10 become permanent, must cyi,
IDENTIFY be gathered into the hands Of .
few, aud enable them 10 exert danger.
Gus and controlling power in the affairs
of the government the debtors would
become the servants Of the lenders, and
the creditors masters of the people. The
letter concludes by declaring that the
vital issue is whether Congress aud is
arbitrary assumption Of authority shall
supcrccdc the supreme Law of the land ;
whether in time of peace the country
shall be controlled by multitude If tax
collectors and 4 standing army as numer.
Gus as that now maintained, making the
debt u permanent burden upon the pro-
ductive industry of the people, or wheth
or the Constitution. with each and all Of
It's guarantees, shall be sacredly preserved.
Whether now, as in 1889 aud 1916, pro.
vision shall be made for the payment of
all our obligations At as an early period
as practicable, that the fruits 0f labor
may be enjoyed by our citizens rather
than be used TO build up aud sustain tho
money monopoly at home aud abroad
The contest is not merely who shall oc-
cupy the principal Offices in the peoples
gift, out whether the high behests of the
Federal Constitution shall be observed
and maintained, in order that our liber.
ties may be preserved aud the Union
stand restored that our Federal system
may be unimpaired. and fratcrnal feeling
re established that our national strength
may be renewed, aud our expenditures
diminished that taxes may be light, and
public debt once more cxtinguished that
it may not injuriously affect the life,
property and morals Of the nation.