The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1868-02-01

eWA Address aIl communications 10 A. @. CAwrnoR
Pa 0dsce Bon 1914. Chicago. Ia.
n the present and confidence in the future.
Il will forever silence every doubt as 10 the
full and complete performance Of every con
tract Of the Government With is creditors,
and thereby establish the public credit both
at home and abroad upon foundation II has
not yet had.
Does any man really suppose that the
people OF England, France or Germany, ex-
ptSt that our bonded debt will be Laid In
golds II his national self-esteem and pride
Of country prompts him to think % let him
explain the brief messages that come to him
every day from London: "Consols, 95; U. ;.
ive-twenties, 70," varying a little from time
TO time, Consols from 80 to 96, United States
tive-twentles from CO to 76 What means
this electric shock that each day strikes our
shores from the old world? Translate "C0n-
sols, %; United States fve-twenties, 10" in
to plain English, expressed ia terms OF our
own money. The English capitalist pays
$3.50 for al English security Of $1,000 that
will pay him $50 year interest, and viii
only pay 800 for United States bond that
pays him $50, which, after allowing ten per
cent Tor exchange, gives him $54 year
sterllOg gold In LOnlon. Make n calcula-
ton Of this difference thirty il to fifty-four
~ nine hundred and flty il to the sun the
European l. willing to pay for a security
that ne las Confidence ID tnat vii. pay him
htty-four dollars year gold in London.
How much is il? Caventeen hundred and
ten dollars . Yes, 81 LILO for n security that
EiH pay him the same interest as United
States fiye-twenty bond for which he is only
ault 70 L A.
report upoa the confidence Europe has in
our hnancierings II q merchants paper
was sold al that wide difference with his
neigheor's you would say II he was not
broke he soon would be, aad you would con
sider lt dear at any price. You would have
confidence in him until you were not only
assured that he had property but had put il
In charge of some one who would not waste
fully squander il. A nation is but individual
aggregation, and the same law governs one
as the other.
Europe has hal abundant evidence or our
powers and our great resources. She has
seen US put down rebellion such as was
never known in the worlds history. She
has seen US hbsrate four millions Of slaves.
She has been made ware Of the wars des-
truction and waste OF p. perty amOurA'1g
70 hye or six thousand millions; and more
startling still to European mind she has
seen the beloved head q the : public assas-
slnated. Aud, notwithstanding all this. she
has seen peace restored, and the Govern
ment move straight forward, the people sub
mttlng TO tax themselves sums greater than
ever before heard Of IN the annals Of history.
With all this evidence OF orr strength we
yet find the gloomy verdict rendered each
day that they have not half the confidence
in the good faith q our Government tia;
they have 10 Great Britain. The fact is they
know more about US than We think they do.
They read our papers; they watch attentively
our Congress and the action Of our Admin
lstration and the operations of our reFenue
laws, and the picture presented il anything
but cheerful and one not well calculated to
inspire confidence.
They can see that q system OF internal
revenue, 10 which the article expected 10
yield the largest portion does not pay into
the Treasury one dollar where it should pay
ten, the balance going into the hands Of
swiBdlers and cOrruptionlsts. They see
Congress meet without establishing any
financial policy; without
sven daring to resolve the doubt that inter-
ssted plrties raised a. to the two thousand
million 6ve-twenties being paid Ia lawful
money! and vaciilKtlag rbetwesn diverse
'piaionss finally adjourn and leave the i'm
portant subject mlinly to tbe discretion Of
he Secretary Of the Treasury. And they
nave seen the capricious action of that Sec
selling gold in enormous guam
ities ut $50, and few weeks later boarding
I at $50. Aud, lastly, they have heard The
Dutterings OF discomfort ~ -" sE.sy n4Isruie
,oming ~ from enc great body Of the peo-
de, and observed these muttsrings Of an
,vertaxed and unequally taxed people not
reated with the respect due. Seeing all
his, their estimate Of the fve-twenty bonds
3 not TO be wondered at. The only wonder
9 that it is no worse
When we shall in good faith inAugurate a
policy which will equalzs the burdens Of
axation, give to labor full and profitable
employment, increase production, diminish
bur interest-bearing debt, lower the rate Of
interest on what shall remain, revise our
tAriff and internal revenue laws, then We snail
secure a foreign credit Commensurate with
Dur boundiess resources and our advanced
position among the nations Of the earth By
such &C y. we will De able soon to relieve
the 1ical, manufacturing, and Indus
rf= N pena-air afunup n revenue tax,
lnF pagiad Wholly foe revenue upon tax
IN ,ac',ifes and articles Of luxury, such as
..beoco. oser and whisky. 10 would afford
unspea ashie relief to the country to be de-
livered from the swarm Of Government off,
cisls and that hungry horde Of spies and
who have established system OK
sspionago over every household
Mr.. Chairman, ] have already detained
the coramittee too long; but you will permit
ne to adj that the workingmen, the tax
payers, the great wealth-producing classes Of
he people, are looking with great anxiety to
earn what course their representatives, will
pursue On this present vital and all-absotb-
ng question.
Upon the wise and judicious action OF the
dominant majority on this question will de-
pend, 'ts continuance in power. We must
r suct our finances, or surrender our
p those who will. The sovereigns of
this ani whasa servants we are will not say
to Us "weu done" unless we inaugurate
measures for their relief.
A Sing ulAr AdjnTant.
Daring the battle Of Waterloo, \ young
man on horseback stationed himself near the
tent Of the Duke or Wellington, attentively
the battle. Wellington turned
uron hiT3 . 1denly with the air or man
who was looking for somebody ,snd On seeing
the civilian standing and looking on, he ask
ed him rather abruptly
"Who are yous What are you doing
here 20 -i