The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1868-08-06


, interest on the public debt, was eigh
: hundred and twenty millions of dollars
These were years of peace. The army an,
navy of the war had been reduced thei
, back pay had already been made up t.
them; immense sales of government prop
erty, consequent upon the close of tn
war, had been made, and yet in thes
three years the republican administration
expended eight hundred and twenty mil
lions of dolars--two hundred and sevent,
millions of dollars year.
The old expense of the government o
the United States for four years proceed
ing the war was just two hundred and
fifty-six millions of dollars. These eish
hundred aud twenty millions do not in
clude the interest On the public debt II
this be added the expenditure of each o
these three years will amount to at least
four hundred and thirty millions of dol
lars. The taxation cf the year 1866
amounted to five hundred and ninety mil.
lions Of dollars. The taxation of the last
year Of MIR. Buchanan's administration
amounted to eighty millions of dollars
The expense of the war department durin .
the whole of Mr.. Polk's administration in.
cludlng the Mexican war. were $50 ,54G,.
coo; the expense of the war department
was SIPS. $50, 900. In one year of repuD-
lican administration, in time Of peace, the
war department spent $50, eco, goo more
than four years democrats admnistra-
tion did in time Of war. Applause. !
The navy department for four years. be-
fore tie war, cost 62,9l0,000. Then
our commerce was prosperous, our ships
sailed in every sea and landed in every
harbor. To-day We have 10 commerce., a
foreign fag covers ali the trade to our sea
ports. The ship builders OF Maine are
starving for want of occupation, ard yet
the estimates for the navy, for the current
four years, is Sill ,510, 600.
have said to you that the taxation OF
1850 amounted TO SG50,000,G00. | am
told that this year it will be less. The Sc
curitos Of the governmeut are not subject
to taxation. The capital invested in the
securities reaches $500, ,000, eco. All
the property, real and personal, Of every
kind, as derived from the oificial rcports
OF 1860, amounted to SIG 900 ,00a 600.
Thus you see that near one sixth OF all
the capital in the country is exemp. from
taxation.
But why is it that the amount realized
from 1866, will oe less than the amount
realized in 1867 The rate Of ia xation is
substantially the same. It is true that
this republican congress has diminished,
as whole, the taxes on the manufactures
OF New England it is true that they vii
diminish somewhat the taxes on whisky.
bat the amount collected from either Of
those sources would not materially change
the aggregate. Why, then, asl, again,
viii the amount realized from taxes this
year be less than 1866? The burden upon
those who 90 pay is just as great as it was
then. The officially of making the pay
ment is even greater than it was then.
a cry of distress when the day for the
payment of taxes comes around, arise
from every part Of the country and it IS
because the business Of TIE country is
stagnaDt; it is because your worksho, 5
are idle, it is because labor finds 10 occu-
patton; it is because tie produce Of the
farmer remains Oh his hands instead OF
going to the market it is because your
stores are overloaded with abundant stocks;
1t Is because energy and enterprise are
paralyEed, and capital remains inactive.
And Why is all this? Because repub-
lican administration insists in curtailing
the currency, disturbing all values. check
ing all enterprise, throwing ont Of employ
ment all labor The traGesnan is caught
with large stock ON declining prices
The farmer fears the tall which may over
take him before lis wheat reaches the
market. The manufacturer fears that the
prices OF his raw material to-day will be
greater than the price OF his manufactur-
ed goods tomorrow, and the capitalist viii
not take his money out OF government
bonds and invest it in houses or lands and
stocks, lest the rents and dividends will
not yield him simple interest. In the
meantime, labor is without emplo, ment
and poverty stalks through homes where
comfort has always been before (Ap-
plause. In the meantime this work of
contraction is steadily pushed. Look at
every monthly report of the secretary of
the treasury, you will find that every
month the debt that bears interest in gold
is increased you will find that every dol
lar which bears no interest at all, or which
bears interest In currency, is converted as
rapidly as possibly into the bonds which