Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-03-06

state by contact with civilization A sys-
tenn which is based upon negro stupidity,
4 supported by bayonets and designed to Sc
cure partisan triumphs through the enslave-
ment of men Of our own race, may be in
stituted here through force and fraud, but
if it can endure in this land the American
people have learned liberty to no purpose
and we'll deserve to be taught its value un,
der the stern tutelage of tyranny which
awaits them in the future of Radical SUI
premacy.
! FINANCIAL AFFAIRS.
In its management of our financial af-
| fairy, the dominant party has enacted the
grossest folly and injustice. Repeated
contraction of the currency have caused
incalculable commercial disasters. A still
more dangerous measure Of contraction is
now proposed in the Senate, by which the
legal tenders are to be withdrawn from cir
culation and replaced by interest bearing
bonds. II property and business do not
enter an effective protest, the results will
be little short OF general ruin.
THE NATIONAL DEBT.
The national debt amounts of 50, SOC, OOO.-
600. 1t cost the holders 81, 25O, OOO, OO0.-
The party IN power would pay it in gold
dollar for dollar. They would give to the
bondholders a currency different from and
better than that used by the people, Specie
for the money lenders and paper for the
masses is the end Of their financial policy
A discrimination SO palpable and unfair is
an insult to the popular sense of JUSTICE
BY the terms of the act of issue, greenbacks
are made legal tender for all debts, public
and private, except duties on imports and
interest on the public debt. Even the SOL
diers of the Republic accepted paper as the
price of their tolls and hardships Is the
| patriotism of cash more valuable than the
public devotion, which fights and bleeds,
and dies Labor receives it's wages in pa
per the products of the farm, the goods of
the merchant, professional fees, all prices
and values among the people, are paid in
paper. If that kind of money is good for
the masses, good to buy all things, from
the sweat of labor to the blood of valor,
why should it not suffice for the redemp-
ton of the Federal securities
EXEMPTION OF THE BONDS.
Under Radical management, the bonds
are exempt from taxation. Receiving from
the Government the same protection with
their property, they pay not dollar 10 its
support. Such exclusive privilege estab-
fishes an aristocracy OF money in the midst
of Republic of labor. Toll is taxed
bonds are exempt. Toll produces bonds
consume. Toll builds our public improve
ments bondholders enjoy their benefits
at no cost. Toll supports our courts, pays
our legislators, and defrays the general ex-
penses Of the Government bondholders
partake of the blessings of all and contri-
butte to the sustenance of none A policy
which makes labor SO completely tributary
to capital Is antl-republlcan III its effect
upon the masses. We greatly mistake the
temper of the people il theydo not demand
that this wrong be promptly rghted by
such repeats and enactments as will compel
all property alike to share the burdens of
taxation.
THE REVENUE SYSTEM.
Radicalism derives the bulk of the Fed
eral revenue from home productions and
the nacessaries of life Over sixteen thou |
sand articles, including almost everything |
that supports life or lightens labor, are now
the subjects of taxation. Hence the great
disparity between wages and the cost OF
living. Frauds upon the revenue are an
other characteristic of the present system.
The laws are evaded, the officers are bribed;
the country is robbed. Over one hundred
millions OF dollars were lost last year
through downright villainy and the def
ciencies of wealthy knaves must be made
good by toilinS honesty.
WHERE THE MONEY GOES.
A large portion Of the taxes now raised is
applied to worse than useless purposes
The EreedmenS Bureau costs twelve mil |
lions annually, a sum equal to the entire
yelrly expense Of the Government under
some of the earlier administrations. That
Institution feeds, clothes, and supports a
host of malignant Southern haters, negro
fanatics, and greedy adventurers, backed |
by the Federal army. 1t has done more to
breed bitterness and discomfort among the
Southern people than the war itself The
military establishments at the South are
another kind of useless and eXtravagant
expenditure 1t is costing from sixty to
one hundred millions annually. High
Radical authority estimates that 1t will
take ten years to reconstruct the South by
the present process. The lowest possible
amount for which this partisan enterprise
can be completed will be eight hundred
millions of dollars. Are the people of this
nation to be impoverished, IN order that
the DAYS of niggerism and fanahclsm may
be long III the land Are the masses of the
country to be mercilessly taxed, robbed
and ruined, in order that corruption may
prosper, love of power be satisfied, and the
supremacy of Radicalism be assured ? We
look for such response to these questions
as will wipe out the aDOmlnatlOnS OF the
bayonet, restore civil and constitutional
governments to the South, exclude the
African element from the sphere Of politics,
and re-establish the American Union upon |
the ancient foundations Of equal justice and
popular affection.
A REMEDY POSSIBLE.
Let us recur to the remedy fol the mani
fold wrongs to which we have reterred:-
The reconstruction question, whatever dill
ficulties It may present to bitter Partlsans,
is capable of safe and easy adjustment
through the exercise of an honest and
liberal patriotism. The simple application
of the principles of the Federal Constltu-
tion will remove every obstacle and effect a
peaceful, permanent, and satisfactory set
tlement. Ii that instrument possesses the
perfection with which every lover of his
country invests it, it will not be found
wanting at the critical juncture. The Con
stitution which has blessed the people with
liberty and crowned this land with great
ness will not now prove inadequate to the
designs of it's authority and leave the vital
interests of the Union at the mercy of rude
chances and political passions. Let its
provisions be applied, and representatives.