Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1868-09-25
1,25s, ,00--$1, ,M1, ,A4, 600
Maximum debt. So, ,as7, 1888 8,

Maximum debit. ,207, 733 1926
FORM OF THE DEBT IMPROVED.
If we analyze the form of our debt as ii
existed June 30, 1866, amounting net to
only So, 2,485, 100000, we find it was all sub
stantially consolidated into long loans, the
payment of none Of which can be de-
manded before 1880, except the currency
debt represented by the legal tender de-
fhand notes, amounting now to only
1856, 100000.
And for the funding of these notes the
Republican party passed an act which
failed to become law by the Iaches OF
Andrew johnson. sTats
THE PARTY OF HONESTY.
We then claim that the Republican
party has proved its intention to meet the
liabilities of the country by honest pay
ment, and to remove from the people at
the earliest moment the curse of an incon-
vertible paper currency. l had never
been entirely convinced of the necessity
of the issue of the IL gal tender notes as a
war measure until entered upon a review
of our finances, of which am now Civ
ing you the results.
challenge any one to deny that this
exhibit proves that the finances of the
country have been managed by the
Republican party with success, never
before known in the history of the world.
Would that had the eloquence of Glad
stone, that l might excite in you as much
interest in these dry details as their i'm
portance demands.
RESULTS ATTAINED.
From this review of the finances of the
last three years it is manifest that if the
nation has submitted to excessive taxation,
and has made an extraordinary effort to
free itself from financial embarrassment,
it has something real and substantial to
show for it.
1t has secured substantial relief from the
burden of debt in spite of that worst form
of taxation upon consumers, that involved
in the use of inconvertible paper money
forced into circulation under the dire ne
cessity of war, and which the Republican
party proposes to remedy by doing justice
to the note-holders and making their
legal notes as good as. gold,
white the Democratic party propose to
continue Indefinitely this burden by
issuing greenbacks until they become
worthless .7aa,s8 5r aA
We have paid $500, 100000 of our debt in
the last three years, and at least $500, ,000,-
600 of extra interest or guaratee, the latter
paid in consequence of the dishonest pur.
poses OF the Democratic party. One Re-
publican member of Congress in Maine,
one in Missouri, and I know not how
many more have been, or will be, rejected
by their constituents, simply because they
were weak enough to be misled by the
false counsels of false leaders.
+ THE REVENUE LAWS.
We have collected this billion of dollars
under tax and tariff laws whose justifica-
ton is in the revenue they have yielded.
Judged upon their own merits, they ap.
pear to have been enacted in haste, Hide.
vised, and calculated to make the burden
of taxation much more enormous than II
need be. Z The Internal Revenue law has
been revised and made simple; the tariff
needs yet more to be simplifed, in order
that as much or more revenue may be de.
rived from it, with less injury to the peo
pie who pay the tax imposed by the tariff,
viz. the consumers of foreign goods.
If, then, under all these difficulties, we
| have in three years paid one quarter of ouI
| debt, shall we take fifty, forty, or even thir
| ty years to pay the other three quarters
Let us not listen to such a proposal lei
| us not put upon our children burden we
| can so easily remove We have groaneC
under heavy taxation, but had we not
paid war debt and war interest-had WE
borrowed instead of paying-our7 deb
would now be over $3, 0,00O,OOO. taAa
REDUCTION OF TAXES.
We have reduced our taxes $161,000,0 ,00t
per annum, and when George II. Pendle
ton alleges that the taxes now amount u
$500,000,000 a year, he willingly assert
what he knows to be false. We may wei
repeat the pertinent question put, I believe
by Hon. VIM Whiting, eAre Pendletol
1 and the Democratic leaders intentionall
attempting to destroy the credit Of th