The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1868-08-20

plause.
Nov, felIow.citizens, to the question Of the
qrandest importance in this ler'any other pc.
Itical campaign, question which is Of the
greatest Importance TO every man who feels
the weight Of an obligation; The public
debt. as it now exists, is not favorable to the
cause Of national progress in amity, mas
much as it is pillar and shining light of in
Justice to one class, by inadequately R1van-
tagging another. ! allude, gentlemen, to the
unequal taxAtou; the injustice of the labor
ing and producing classes, the backbone of
the body-politic,l paying the interest on the
public debt, and the holders of the securities
returning nothing to the government by way
oftaxes. Hear, hear.p am not blaming |
bondholders; many worthy and estimabe
gentlemen exchange their greenbacks for |
bonds. They are the safest and most profit.
able investment and yet are wholly exempt |
from taxation. But do blame the law, and |
set my face utterly against 80 unjust and I'M.
equal an enactment. Why it is unjust and
unequal is apparent to all men. | have
been accustomed, in my speeches, when dis,
eussing this topic, to use simple and,
take il, very apt illustration Of the relative
positions Of Taxpayers and bond.holders -
farmer has farm worth $4,000, and be-
ing taxed at per cent, he will have to pay
$500. Every horse, COW, hog, and stock OF
all kinds, and farming implements, &c, on
his farm are taxed also at their assessed val
uation. A neighbor of his has 100000 in
bonds, and nothing else and pays, in taxes,
not one farthing. "Hear, hear" lie has
the benefit of the courts, the protection OF
| the law. the common security against rob-
bers and thieves, and pays, for this, not one
farthing. He sends his children TO the hue
public schools. They have the use OF the
school houses and the benefit of public in-
struction, and this increases his expenses not
one farthing. He rides in his fine carriage
over the smooth roads and is assessed not
| one farthing to keep them smooth and IN re-
pair. And with all these gratuitous advan'
| tages, he receives, 10 interest, $4,000, to
which his neighbor, the farmer, contributes
his part by his labor. The democratic plat.
form expressly declares the political creed of
the democracy to be, equal taxation, on
every species of property, whether govern
ment securities or not
Now want to talk to you for few mo.
ments on the American banking system
You oil doubtless remember the United
States bank, under Jackson's administration,
and the strong passions which were aroused
between people in office, both in its opposi-
ton and defense. You will doubtless re.
member the great struggle Gen. Jackson had
! in battling with it. The entire capital OF
that bank was only fifty millions Of curren.
, CIV. while the treasury notes of our national
; banking system amount to nearly SIX tunes
"a much and vet this little bank, OF thirty
wears ago, dared to throw down the wager Of
t battle to the lion hearted hero of New Or
> leans.
!, The payment of the public debt is the
greatest political problem which has ever
J agtated this nation. The payment OF that
debt is staring US in the face as an lmmedl
ate necessity. hold great public debt to
{ he great national calamity. 1t makes two
= distinct and iusoluble classes, in republi
q can rovernment-one class of mOnied or
y istocracy, holding the governments note io
u the amount of the debt and the other thu
i class who are toiling, from early till late, TO
:, pittauce to pay interest to these remorse
~ less creditors.
e. Now. propose to get rid of this debt; i
10 word, to pay it, "Well," says my reput
IS lcan friend, chow do you propose to pa
se t?" Why. propose to pay it according t
). contract, in legal money of the Unite
at States-in greenbacks. Great applause
lie The first step toward the payment OF IA
g public debt is to reduce the public expend
re lures. Reduce the army to a size compa'
it bic with republican form of government
u OrgnuiAo at once the revenue ONCE upon
k. new basis, closing, as much as possible, a
the avenues of theft and official Chicaner.
rt Bring down the prices Of sugar, coffee, an
at spices; of steel and iron, and clothing, +
h. reducing the high tariffs and opening ia
If. competition. Abolish or reform the n
e. tional banking system. Retrench IN I'll
mt fraudulent and enormous expenditures
in the freedmens bureau. Pay the publ
10 debt, exactly according to contract IN greer
le backs, as fast as the business interests
Sc the country will warrant and thus stop II
to terest, and return capital to its owner
ct where it can be taxed.
ne Ny friend Gen. Palmer, derisively o
ID serves that this is a patent way of payir
e. off the debt with greenbacks, and advis
IT. us to print them on buckskin, so they W
re not wear out. We don't propose
IL infringe upon their patent, but pr
u pose to take possession of the right to ma
~ ufacture. And we propose to take from
III congress which misrepresents the peopi
y the power to fool laborers into belief tn
10 it has their cause at heart by making eig
re- hour laws and then taking two hours
te their wages. Let there be no niggard
mt practices of this sort, if you have vote
'r' remedy it. Let not the narrow minded eco
ey omy which would stop only one hole in
M sieve have control of the govern ment apr
use priations. But let the national bounty
az! dispeus ed to rich and poor alike.
~. The public debt should be paid as fast
lie possible Put it off for posterity to pay,
it the radical party propose to do, and you "
for pay it four or five times over, and then lea
it for posterity still to pay again. ray
in the 5.20s at least, as fast as practicable
tie, greenbacks. BY no longer being necess't
an ed to pay interest on bonds, and by retreh'
ment in all the departments of governmle
eff. millions of dollars can be saved annually
no By doing this, and by properly using I
nd preenback key to unlock the dead bona
IRE capital and make it a VITAL useful agent
The bear its part in commerce and help pay
ION taxes necessary to support our munlclp
ost county, state and national governments,
l will bring back peace, happiness, and pr
ing perity to all classes of our people.
airy will not give my views on reconstrgctlt
en- to day, but will make way for Gen. Sing
'nlS ton, who is waiting to address you, and WI
W. W. as everybody knows, is a much more a.
t: orator than myself. ! will only say, in I
M erence to views of reconstruction, that
As 49, ranr,anso "o wa u ia,nR3ar1 bntnnno,
O. 1If;na;s nc %Go. i'e, pFVy,
eply Wbn are in faSor of negr6 p angroao h