The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-06-06
Congrcss and tho Finances.
Whittier are we drifting financially

Whittier are we drifting financially I
This is a question of very great inter.
est and Importance to the whole country.
Upon its solution depends very much the
prosperity and happiness of the people.
For if the present system of taxation is
to GO ON from year to year, increasing In
burthen instead of becoming lighter, We
shall cease to be free.
A tax ridden people are not a free peo-
pie.
The farmer whose farm is largely mort
gagged to his creditors, and the mechanic
whose home is encountered to about the
extent of its value, cannot be said to be
in easy circumstances.
Here is a tiller of the soil whose farm,
worth $4,000, Is mortgaged for a debt
of $4,000, on which he is to pay a cur
reucy interest of ten per cent. His In.
rerest would amount to the snug sum of
$500. Then suppose the ordinary x
penses of conducting his farming opera
tions to be $500, it is plain that he would
have to raise 81, 1000 per mum in order to
keep up with the world without paying
.one cent on his Indebtedness.
Now suppose that a farmer should fool
ishly cut off $500 of his income, without
making a corresponding reduction in his
expenses, would he not be IN debt at the
end of the year an additional $500? He
has lived up $500, owes $500 on interest,
and only has $500 to pay it with. lie
therefore has no alternative but to go in
to the market and make another loan,
and still further mortgage on his farm.
The reader may calculate for himself
how long it would be till that valuable
farm would be brought under the ham,
-mer.
Now hat is precisely the course being
pursued by the present ~extravagant Rad
zeal Congress. They have gone to work
and exempted certain Eastern manufac-
turers from taxation, thereby reducing
the Revenues of the Government, with
out making any corresponding reduction
IN its expenditures.
What Is to be the result?
The answer is plain, so plain that
the most obtuse or conceited hater Of
Democracy in the land may understand.
Either the Government must run still
further into debt, or those who are not
exempted from taxation must be weighed
down with still further burthens.
1t Is estimated that then the Govern
ment will lose by the law just passed, re-
-ducing taxation on certain manufactures
about $50, zoo, 600 in gold, or S120, 000,-
600 in currency. How is this deficiency
to be made up? Not by a reduction to
that extent IN expenditures.
The standing army is to be kept up for
the purpose of turning the South into a
st. Domingo: at an expense of S50,000,-
600.
The negro Bureau is to be continued
another year at an outlay by way of sup
porting lazy negroes, idle and mischicv-
Gus Bureau agents, and thieves, to an ad-
ditional amount of about $50, 0O0, 900.
The maintenance Of an immense but
useless Navy of 800 ships at an enormous
expense.
Then there are the special and extra
ordinary expenses of s25, 600, 900 for ex-
ira bounties, and S13, 000, 900 for accum-
ulated interest on the compound interest
notes not providedfor In addition, there
is about 100000, 900 to be paid to the
owners of the United States bonds de-
posted as collaterals by the National
banks and which amount might be saved,
by canceling the bank issues.
Some of these expenditures are neces-
=sary and proper while others, aud by far
the larger part, ought to be cut off.
The enormous cost Of a standing army
in the South, of the negro Bureau, of
Radical DEMONSTRATION" of a powerful
navy, and of interest to the National
banks on bonds, might be saved to the
people. But no such, or other saving of
consequence is contemplated by Congress /;
on. the contrary every extravaganza is in
dulged. Appropriations are freely and
unsparingly made without looking to con-
sequences. It is the contracting of debts
without the means to pay.
1t is estimated that it will require
$500, 000, 900 in gold to foot the bills
next year, which will equal over $780,
100000 in currency. Where is the mon
ey to como from to meet these appropria-
tions? It will not, and can not be raised
from the people. They can not bear the
burthen. Eastern manufactures are to
be relieved. As a Legitimate consequence
there WILDE a large deficiency, which must
be made up by additional loans. And
thus, instead of gradually reducing the
public debt, and consequently the public
burthens, the debt Will be annually In
creased, and the burthens of the people
made moro in~tolerable.
Like the farmer whom We chose for IL
lustration, the Government will plunge
deeper and deeper into debt and ruin,
p%rostrating the industrial interest of the
country, expressing the poor, and enrich
ing the rich.
From these terrible consequences there
IS no escape but through reform and re.
t~renchment in all the Departments of the
Government, a cessation of foolish, mali.
cious and Vindictive legislation against
the President, against the Supreme
Court, and against the best interests Of
the laboring classes of the country.
No relief is or will be expected from
the present reckless and Vindictiye Con.
gress. Their hearts are set on evil. the
bitterness Of desperation has taken posses
sion OF their souls, and no attention is tt
be given to the wants and interests of.tht
masses. Let the people prepare for &C
ton for such action as will relieve them
selves Of their unworthy and faithles,
public seryants.-Dayton Ledger.
"a Jay Cooke, at the beginning of th,
war, was a bankers clerk In a small towr