Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1868-09-25

party has proved its intention to meet the
liabilities of the country by honest pay
ment, and to remove from the people at
the earliest moment the curse of an incon-
vertible paper currency. | had never
been entirely convinced of the necessity
of the issue of the legal tender notes as a
war measure until entered upon review
OF our finances of which l am now Civ.
ing you the results.
challenge any one to deny that this
exhibit proves that the finances of the
country have been managed by the
Republican party with success, never
before known in the history of the world.
Would that had the eloquence of Glad
stone, that might excite in you as much
interest in these dry details as their inn
portance demands.
RESULTS ATTAINED.
From this review of the finances of the
last three years It is manifest that If the
nation has submitted 10 excessive taxation,
and has made an extraordinary effort to
free itself from financial embarrassment,
it has something real and substantial to
show for it.
1t has secured substantial relief from the
burden of debt in spite of that worst form
of taxation upon consumers, that involved
In the use of inconvertible paper money
forced into circulation under the dire ne
cessity of war, and which the Republican
party proposes To remedy by doing justice
to the note holders and making their
legal-tender notes as good as gold,
white the Democratic party propose to
continue indefinitely this burden by
issuing greenbacks until they become
worthless.
We have paid 100000, 900 of our debt in
the last three years. and at least $200,000,-
600 of extra interest or guaratee, the latter
paid in consequence of the dishonest pur.
poses OF the Democratic party. One Re-
publican member of Congress in Maine,
one in Missouri, and l know not how
many more have been, or will be- rejected
by their constituents, simply because they
were weak enough to be misled by the
false counsels of false leaders.
THE REVENUE LAWS.
We have collected this billion of dollars
under tax and tariff laws whose iustitica-
tion is in the revenue they have yielded.
Judged upon their own merits, they ap
pear to have been enacted in haste, Hide
vised, and calculated to make the burden
of taxation much more enormous than it
need be. The Internal Revenue law has
been revised and made simple the tariff
needs yet more to be simplified, in order
that as much or more revenue may be de-
rived from it, with less injury to the peo-
pie who pay the tax imposed by the tariff,
viz the consumers of foreign goods
IT, then, under all these difficulties, we
have in three years paid one quarter of our
debt shall we take fifty, forty, or even thir-
ty years to pay the other three quarters
Let us not listen to such proposal; let
us not put upon our children burden we
can so easily remove. We have groaned
under heavy taxation, but had we not
paid war debt and war interest-had we
borrowed instead of paying-our debt
would now be over $3,S00, 100000.
REDUCTION OF TAXES.
We have reduced our taxes $i87 100000
per annum, and when George ii. Pendle-
ton alleges that the taxes now amount To
$500, 100000 year, he willingly asserts
what he knows to be false We may well
repeat the pertinent question put, believe
by Hon. VIM Whiting, "Are Pendletor
and the Democratic leaders Intentionally
attempting to destroy the credit of the
nation, in order that we may be unable
to obtain the means to put down the new
rebellion which they propose to inaugu
rate?"
But what is far more important, we havt
reduced expenses yet more.
For the year ending June 30, 1865, the
expenses of the War Deparmen
For ViS the year ending June 3o 1868, the VOL
entire expenses OF the army proper,
excluding bOunties, STATE claims,
J and legacies OF the war were. -. 5O,Gls,OO
less than, ....,...,..,:.........,., 100000
ment for the year ending June 80,
Year ending june SO. 1865 .. ........,,. 2577s,0O
| Estimate for the current year 49,. 17,300,0O
We are charged by Mr.. Pendleton will
heavy deficiency bills, but we reply tina
they are rendered necessary by the fraud
of the honorable Democrats of the whisk,
ring, kept in office by Andrew johnson.
STRENGTH OF THE COUNTRY.
We have ceased the rapid reduction O
debt and our taxes arc not no v excessive
but perhaps ill-adjusted. At the presen
rate per head of less then nine dollars, ou
entire debt with interest calculated at si
per cent. for the next five years, and a
five per cent. thereafter, and with an a.
lowance for ordinary expenses far create
than we are now paying-I say, maxim
all these allowances, the rate of eight do
lars per head will pay our debt before tn
year 1884 has ended. Why, gentlemen
we do not begin to realize our power-w
do not begin to know Alr strength, we ar
scared by mirage, and we propose to pu
off twenty, thirty, aye, even fifty year
what we can easily do in ten. We do NJ
need to issue long loan to obtain lo'
rate of interest. Canada has just borrow
ed $7,500,000 at four per cent, and $4,000
600 at five per cent, and the whole amour
was taken on twenty years, by the Rotl
schilds, at 1858. The Finance Minister
Canada expects to place $10,000,000 mol
on still better terms.
WHY INTEREST I6 HIGH.
All we pay above four per cent. interei
is the guarantee charged by capitalists b.
cause we indulge ourselves in the luxur
of Democratic party leaders like Pendl'
ton, Seymour, Hampton, Forrest, and tn
like.
have said that we don't know Ou
strength Let us try to realize it by
glance at some Of the elements Of our Fl
ture prosperity.
WHERE STRENGTH CONES FROM.
Tst-Immigration. Since the termini
tion of the war, rs | am informed by Nj
Wells, over 100000 natives of foreig
countries have sought permanent hon
in the United States. These immigTan
are known to bringwith them specie or i
equivalent to the average amount of 81
per head, while their average value to IL
country as producers land It is from pr
ductiOn alone that we can collect take
cannot be estimated at less than the ave
gevalue of an able bodied laborer in ii
South, prior TO the war, viz: $1,000 p,
cdpitd. Immigration, therefore, since II
war, has added $63000000 directly, an
5000, 100000 indirectly, to the wealth an
resources of the country.
And here let me point out an effect
the Pacific railroad upon future immigr
! tion. believe the force of Chinese i
boTers who are now constructing the r
cific end of that road are but the adyant
guard of mighty host who will establis
new "central tiowery kingdom upO
the dry plains between the Sierra NevaC
and the Rocky Mountains These plail
can only be cultivated by irrigation,
which method the Chinese are the mO