Brownlow's Knoxville Whig. [volume] (Knoxville, Tenn.) 1866-1869, 1868-06-17

attempting the ahsurdity 70 oppress the people by
compelling them 70 pay their taxes in goldi Is not
this the logical consequence2 Suppose your cFedi-
! tor demands gold for your liabilities, are you not
compelled TO clleet gold from your debtors fail
/ 10 psy your indebtsdnrss7 Most assuredly such Is
the case. And whenever the government deter
mines to pay the public debt in gold, it viii be
driven TO the necessity Of desperation and fret at
I tempt tec0mpel gold payment Of taxes which will
result in the sale Of the property Of all except the
rich and opulene az nominal figures; and finally
/ by thus completely bankrupling the psorle-drive
them into repadiation, If nothing worse. But sup
pse the government declines 20 force its citizens 10
ray their taxes in gold but decides TO pay the bond
holders 10 the precious stuF Where i. the gold to
come from, and how k the government 20 obtain
~ Why, says an advorate Of this scheme, the
( government czn borrow the gold3 How. would
ask, and who fr"mf II the government determines
buy or burrnw the gold It will be compelled TO SD
ply t. the very men who are engaged in speculating
on government securities now, and who viii then
have the government st their mercy and who will
demand such prices for their gold KS will involve
the purchaser in greater indeb edness nc every eff
"f ana through every transaction it has with these
~oulless men.
1t is said Mr. Jay Cooke bas ths modest sum of
about ten millions. accumulated during our trou-
'les for which be demands gold Suppo-s the gold
policy adopted, and the Secretary of tba Treasury
instructed 70 procure gold and pay Mr. Jav C1oke
md for this purpose enters the MONEY market of
Wall street Whist frnst this would present q, The
money sharks! The government would then be
hound 10 have god, aid the brokers with bearning
r"untenAnces would simply demand the srnsU eur,
Il one hundred per cent. and W. have the Secreta
~ OF the Treasury giving tl5o G5iLzrs for ons thus
'Hying Mr.. JaA C,Hoke tsn millions IN gold and
'rrailng deit with Wall street lust double that
mount witch in its time, must be met and dis
""sra oi under the same brilliant plan Of ansnrial
''perAton'. The manner in which propose to dis
IN sErrFnn d f.,V a
he several laws or contracts by paving the bonds
-upuiHted 10 be paid in gold. the nation may be
able, just rs requred-i51 golI-and taking up all
hhers With lawful money" greenbacks," as per
'ontract. In discharging the bonds required TO be
pald IN lawful money" Congress should exercise
we'll aseertained dscreton in regard TO the gradual
y more rapid expansion of the currency, IS the
wants OF the people may demsnd more or less money
II the aFcertaiRrd commercial wants OF the peO-
's are such as to justify taking up at one issue Of
egai tender greenbacks all she bonds redeenabe IN
lawful money, then Congress should DO go at once.
II thst would ina ,ts the currency beyond the bssis
+ healthy monetary and financial standard, then
Congress should gradually absorb these bonds by &
erles OF issues OF greenbacks ss the money market
may demand. BY either policy The entire debt can
be discharged in very short period of time Money
ts now scarce. II Is almost impossible 70 obtain Il
for necessary purposes. This is because the bonds
now drawing gold interest are free from taxation.
While all other Investments have TO meet the highest
rates Of State and National taxes. The exemption
ot bond holders from sharing the burthens of taxa
on induces capitalists to invest their funds in bonds
ana thus Withdraw their capital from circulation.
but take IN the bonds and supply their place with
greenhacks, and IL win force money into circula-
ton and reduce the present exhorbitant rates of in
terest imposed on those who have TO borrow. To
red EN- the bonded debt in this way win remove the
"pprsssiOns of the national banking system. Under
the present law and the aid of the yold policy by
sffar1c An
m the Treasury Of the United State' banking priv
ileges are obtained and the person making the de-
pOst authorized 20 issue ninety thousand dOllars in
national bank notes, and do z general banking bus
mess, chief among which is TO loan these issues at
tstonishingly high rates Of interest. And yet the
banker receives the semi annual interest on the
bonds deposited in gold. thus making double, and
.iften much greater profits. For one hundred thou
~und dollars Ihe banker gots tho Of hundred
and ninety thousand.
To illustrate, they receive the interest on the
smount deposited as well as on thsamount they are
authorized 20 issue and use, which gives them tie
benefit OF two Investments of capital, and that
AL free from tszstion. All other investments are
taxed. The question Of internal taxation is impor.
tznt TO the people. According 20 my deliberate
judgment, there are many important errors in the
-ystem Of the Internal Revenue law which might be
r-meded.
am net the advocate of whisky. nor do expect
30 TASTE distilled spirits while live, yet the
law imposing aoNssnsicat restrictions the manu-.
taclure and two dollars per gallon taxes on all
-pirits, and tax in proportion sob@oea, is tho
RI man 8 law and poor mans tax. and should be
amended. II drives the money expended for these
81 ticles out Of circulation here because we have but
lew men OF sufficient means tn comply with the law
md engage in their Manufacture Capitalists of
ther sections ge. all the rnoEey expended for these
articles, when by aboshing the nonsense nd reduc
ug the tsz they would be msnuiactured in our
nldst, and the money expended f'r them kept
.mong our own people. | am for light tax, a L.
snse ryslem and Safeguards n secure the revenue
VIth fu prrmision and 'qual chances TO all to on
gage in their manufacture.
There Is no public measure Of more importance to
he people Of Tenns- tbaR the construction of the
Tennessee and Pacific Railroad, and If elected to
Congress will endeay2r 70 procure national aid TO
his enterprise
The interest of all classes will be promoted by
psning the Tennessee river to better navigation
rom Knoxville to the Muscle Shoals, and viii
,dvocate and for sufficient appropriations out
# the national treasury 10 accomplish this purpose
Our people have suffered greatly by the TavRges OF
be late war, and would act and vote, if IN Con-
sres to extend the same relief TO the loyal people
f Tennsssees that has been given TO the people OF
Penney ylvsnin, Ohio and Indiana.
There has been no special favors shown TO Ten
,essae soldiers, either by Congress or the Depart
nents In fact, thus far but little respect has been
ztonded to the men Of East Tennessee, who forsook
al TO follow the G 2 Of their country and va have
mad no man from our section of the State 90 raise
MS voice against this treatment The Tennessee
soldiers labored under difclltes peculiar and quite
i,fsrent from those FROM the Northern States. r.
Irregularities exist in their enlistment muster ana
.rrvice, which deprives many Of them Of the bene-
cts of the laws heretofore passed granting pensions
md bounties Were in Congress, ! should give
particular attention to this subject, and believe
,ould accomplish something towards liberaiizing
the laws so all who served their country bonorsbly
and nithfully might enjoy the patronage of the
government regardless Of the science Of "Red Tape.
And il would be nv pleasure 70 aid my eonstitu-
nts IN pressing their business through the Depart
ments, as General Stokes has invariably done with
the business Of bis district. Having glanced al
these general features OF legislative policy now
remark that If elected g5H cork tOr Dly coiLstttN
sits ad 6clieUs can Be Qf some advantage TO tee
seoBls I t0ouid thus represent stand IN ponies
where have stood from the beginning-with those
who saved the country. Now, as heretoiore en-
dorse the main Textures of the Congressional policy
of Reconstruotion, and have 10 sympathy With
bosa ~ bo would 90 back on The Coored mao hy de-
Driving bim Of the rights secured by the Recon
.truction laws enacted by Congress Now Wisb
{, appeal TO tho thinking and faiT-mInded men OF
al portionu Of the district and especially hno1
county. -
Knox county has furnished the Congressman Tor
more than tsssnty years and suggest whether II Is
far-whethor il comports with the liberal IDEAS o'
Republication Cor this country 10 continue 70 eialnl
the member etill
40 moi address myself 10 she politicians, but to
The real people, and to them make the appeal
AsG yourselves the question whether you would
consent for some other county 10 moaopohzs toe
honor Of furnishing The member Tor quarter q q
century, and then respond whether you VIII not re
meet tho claims Of other localities wbose people
N-ve proved true IN the ites OF po"ef'u' 0PPO0'-
ton.