The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1868-08-26

pOpuletl0n was 10 De the OASIS u u
d%iminution of the representation o. the
South. The right of negro suffrage
was defeated in Ohio, the same year
that the legislature adopted the l4th
amendment, which rec,gnizcs that
right, and operates on disfranchised
white men.
This is the policy of Congress which
brings before the people the desperate
cond ton of their finances aud which
Is still calculated 10 draw sweat and
blood out of the laborers Of the North.
CONGRESSIONAL POLICY ON BONDS
TAXATION.
Tie Debt of the United States is
represented by bonds and securities, in
the hands of the people, but, mostly.
IN the hands Of the capitalists of the
Country If this property was subject
to the same burdens, as other property,
under a proper system Of taxation, 1t
would relieve the people, to the extent
of almost one third of all their contri-
buttons to the government, one tenth
or s3c0, 000, 900 of this property would
come upon the tax duplicate of the
State of Ohio. The taxable property
in the State of Ohio is 81. LOG, 208 ,92I;
upon which is levied. $40, 627 ,977,37
for the year 1868, so that the per cent.
of taxation could now be reduced, in
Ohio, n third, or the amount of over
5000, 100000, if the bonds of the
United States were subject TO our tax
laws, The people of Ohin ray, on
their State account .S20,627, 977,27 for
i interest on their State debt and ex-
penses CT government. They pay, ac-
cording to estimatts s, about so, QQ0, 00g
of the revenue raised each year, sine
the war, to the general government ,
making III the aggregate over $40 COO;
coo ; almost as much as was required
for the whole United States govern
ment before the war Other States
pay in like proportion. This enormous
burden arises frUm the fact that the pol
icy Of Congress, has created a class IN
the country who enjoy the blessings OF
the peoples t~ax-payibg All bear zone
of tie burden. This evil is aggravated
each year when the assessor goes round
10y shifting taxable money into bonds
and evading the ax1sws of the State.
No estimate can be made of the terri
ole abuse thus growing out of the pres
ence, in every community, of thes<
bonds, thus shifted behind the back,
of our assessors. Every species of ex
empted property always becomes the
basis of shutting and fraud in assessing
burdens upon the people. This out
rage upon labor could not long prevail
had we a Congress that would adopt u
peoples policy instead of a bordholder$
policy
The very last act Of Congress before
it adjourned at its last session was a di
rect defiance of the people, and an
equally direct declaration in behalf Of
a class who, practically, are mere leech
es on the labor of the country. The
funding bill, passed by Congress at thu
close of its last session, indicates the
policy Of Congress. The 500 bonds
amounting to 100. 000, 000, and
which were payable in lawful money.
paper currency, by the funding bill
above mentioned, are to be redeemed
in other bonds payable in gold, princi
pal and interest, in so and 40 years
at 4 and Al per cent. The effect OF
this bill is to give to the capitalist, a
bonus or gift of forty three per cent
being in the aggregate on the Who'll
amount of $40 bonds, 1871, 000, 900
increasing the public debt that much
10 lieu of the IL and 2 per cent. dimi-
mutton of the interest.-The new boLds
payable in 80 and 40 years, will accu
mulate 81 100000, 600 of gold i~nteresr
before they become due, to be paid by
the people ; and there will remain, thu
sI,iOO,O 900 900 principal of The bonds
to be paid in gold This is the doc
trine of The Chicago platform, to ex-
t,nd the payment Of the pnblic debt
over a far period So much for a
bondho'ding Congress, legislating for
bondholdersl An issue of paper mon
ey by act of Congress would have saved
the whole Of the 81 200 600 GOT Of
interest, and the GEL ,000, 600, of prin
cipal thus added to the debt. And
these new bonds are exempt from taxa
alton! This funding bill is, peculiarly
Insulting to the people /; for it was pass
ed in the face of the strongest popular
sentiment, that ever existed to have
the 5-2Os redeemed in greenbacks, to
subject the bonds to taxation and re
store equality among the people. An
act passed to render it impossible for
the popular will to ever be carried out
AT the beginning of the last session Con
gress had taken a step towards remedy
ing these evils by subjecting the inter
est on the bends to taxation, admitting
the feasibility of such taxation, rs TO
the principal of the bonds; but under
the pressure of Eastern capital Con-
gress had succumbed ard inflicted an
increased god debt upon labor. And
all this too in the face Of the stagnation
of business, and scarcity of paper mon
ey. The United States now has but
S13 in money to each inhabitant, while
EDglsrd has S25 and France $50 to
each of their inhabitants. Bonds now /
payable n greeDbacks, or paper money,
are being changed into gold bonds in
creasing the public debt ; building up
golden walls of interest On one side OF
which is to gather the aristocrat, and
ON the other the laborer, the one min
i<tering to the other to feed his insa
table avarice, and feel his .coDtt mpt
And this state and condition to be per
manent, exacting, tyrannical, slavish,
for all time to GOMEZ The public debt
to accumulate by continuous expense in
the South. by extravaganza in The
North, inficting untold degradation on
Southern labor through negro equality,