The Lincoln County herald., 1868-12-17
Fear Genera.isss II slavery.


Fssr 0saera.isss 10 slavery.
A boudhoIder, probably, for 10 e,he.
individual could BE- guilty Of % msAs,rous
. propoeitioe, advocates. through tho col.
.unns Of The New York Tines, . plan ior
the oxtinguishment Of the national debt
as the end Of On eighty yesrs sssssion for
the interest at the rate OF some el68, 900, !.
600 per year, for the entire period.
This sstuts individual, in the face Of the
fact to. day, that every month this nation
10 getting poorer and poorer, for every
meath shows ~ isessass Of the pablic
debt 10 ths facs Of ihis startling poof ol
he issbility Of this people to stasd the
terrible drain BY the taxatiou nov in.
posed, he says, "thsfe does bot sppcar to
b much dosbt Of ths sbility Of the Gov.
ernmsns 10 pay the interest On The debt,
aad when iLe seven .thirties are converted, !,
oil the interest will bs payable 10 coin.
Neither will Il b very burdsnsoms 70 sin.
ply pay The iatsrsse."
This political economist 1gurss ost
that elS6, 900. 900 coin interest . year.
psysbis BY the producers Of The United
States 10 sdai,isa 70 The balance Of The
hues expesses Of The adaiaistraticn. ia
quite IN easy matter. This sum Of $685..
000, 900 per year 10 coin, ~ long - the
debt Of the eeUatry 10 in existence. will
have b b raised at the rate Of % per
cent loss on every raper dollar the poor
nss works for. Hard - IL 10 10 pay is-
tersst il paper Il will Be still uors severe
upos the industry Of the coustry TO pay
il 10 coin. The impovcrishment Of TIC
poor will he increased is the proportion
which the paper interest pay meut de-
cresses
A pleasant picture 10 offered for the
contemplation Of the wealth. producers
Eighty years steady strain upon the pro-
ductivs energies Of this hation at the rate
Of e200, ,000, 900 per year, paper money
interest. for % long % the circulating
medium 10 paper, it will amount to that
70 the people. % Il will take that SUN 10
paper to provide tho e150.000, 900. per
year. There will be at least . drain
equal to t75, ,00O, 900 per year in gold,
BY Europe, which will hold . goodly pro.
portion Of our debt as long - We pay
gold interest At 6 per cent. rates.
The plan according to the Times cor.
respondent, by which the great debt 10 to
be wiped out at the end Of eighty years.
10 through tho adoption ola sinking fund ;
this sinking fund is to be augmented by
the steady screw pressure Of s20O, ,000, 900
per year, upon the people for four gener
ations. By that time, according to the
figures Of the aforesaid correspondent. the
debt will have been paid. How any man
with brains could, for moment, seriously
present such proposal, 10 unaccountable.
We have merely 10 ssy, that before this
country viii carry this load Of debt one
quarter Of the time named, the tax-pay.
ers, to q man, will repudiats every dollar
Of il. As the Law Of self-pressrvation
with the individual 10 sup ems at oil times
aud under all kinds Of circumstances. so
10 il with the nation. This great deb,
will not be carried one hour BY the peo.
pie Of the country. when they realize
that IL Is crushing them. A few more
years of inoaeased national Indebtedness,
will open the eyes Of the over. strained
back loaded bondmsn, and when he gets
them opened, he will crush out tie de-.
mands Of the bondholder as easily as he
would an egg shell. It is folly to prate
Of "national honor" The phrase has no
meaning iu history. For it's age, the
American nation 10 the most corrupt on
earth. It repudiated years age the debt
it incurred in the days Of the revolution,
. debt Of over $3.50, 600, 900. On otligs.
ton Thousand times more sacred" than
that Of to-day, and from present pros
poets, the same disposition will be made
Of the great debt Of the present period
N. Y. Day.Boot.