Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1868-04-06

re les az ehsv sd pleasing
sas. ar ,.xss. |. nskes every ~
fee hirn.el.. pabilr beaefaeteF'
reiac. exp ises tat - he
rr.s al, moi vs,hesan ..lAi 1ab. Ar. o.
,,i1.,sA - - Srrsta the staer GAY That ne
A.e.,S, M reduction Il expenses yet, snd
r,.,,.encc Of n determination TO reduce
,h-, III. Sherman said that IN he Nay
tasr we're gaug on, depriving the seere-
tar OF the Treasury Of means withou. re-
du.iae the expenses, he saw no way 20 os'
aus things but to impeach the Secrs..y
M wsshburne said in the House
- reducing revenue ana i'e'
-. 80, economies that have oesn
~..-s..s A.. likely TO turn out hmpy =
-, deficiency, requiring an increase o.
~. bonded debi, and ncw revision o. "
,n,.,n.i tascs. Il the nett session. asAn-
mi. me publis credit viii sutier. II wss
~. "A tho tsxes on most OF me
-. ,,,nuf.ctures. but every tax shouia
.~,..,.g hal can he, without restricung
-, To ,hrox of two hons oi
.c.. f-an refined sugars -whlch are
80, rejected ~ duty Of six per cent
...,,r.l millions more from turpsn
tine Ard 81. sam, = which We nave
X. t.a,. IS. 49, ifam ~on'scur"ery anu
'..r,r,. ~ssaioils4 abandonment Of re
..n.e., warel the pablo credit needs MT
NJ fgsasI hai congress apFeafd 10 pc
f.5t.,..i.. nte lac Of reputation, by
n.kfri'ev is very large deficiency
Ill AIS 1f carrying on Government
r~s fa e- 30 public Obligations = ca
t.assf. b.- fsS.
Ths foregoing comments upon Congress
sou.' economy are ircm Radical source,
af.ei Which gives them peculiar sgn'h-
csne,. Mark the words, taxpaysrs
Raheal organ proc'ams that the erea'
soonom es tina, have been promised by the
R,ascal Congress, ere likely to turn out
s,mpva heavy Delinquency which VII IN
,l,. an INCREASE Of the bond debt. And
What sort Of ecorcmr does the Radical
Cane,es. propose The Idsetss says 1t %
q r.dusiion Of the public revenue, without
dimuni,ion Of the public expenditures.
Tn. taxes arc taken of b Congress. bu,
tAa, soay makes no provision for . rcduc-
ton o. the expenses. The legislation OF
Coagre.. ,has Gar only cr,rples the ability
Of the Gosernment to meet the appropria
uons Il has ma. for the puhlic sxPendi-
turs.. and, ~ the revenue is insufficient &c
ever them, tie consequences must be ar
inerssse Of the bond debt. and rs the Deb
increases iaxa;i on rnust Also be increased
20 pay the additional interest And i
nuss not DC forgotten. IN this connection
thai While the interesi alone upon the bond
81 dss, /. about double the amount OF To
s.e-s exp. ndi,ures OF the Government or
Der The administration Of Mr. Buchanan
ths principal Of Tho debt is not dimjnishe
farthing IL the interest upon no Deb
10 PAID f~r sixteen years Il smonnis 20 asot
s2gal 10 The entire debt, II the psymer
O. The debt Is put q forty years, We vi
rnv ~ Interest, without compromising it.
ssra equal 10 twice snd a half ofthe ANON
81 the deb, intact To this kind OF finan
eisl policy. the Democracy object. The,
desire that all the available means OF III,
Government, and all tho surplus funds De
rived from revenues over and above the ex
ptnscs Of the Government, shall be used il
hqaijsting the bonded debt, and thus re
iiese tho psepls. the producing classes, from
the public burdens which. now cypress
them, and which will continue to Cypress
them Is long IS the dsbt maintains its pres
eat huge proportions.
The Gazette. although = Radical organ
Somprehsnds snd appreciates the financia
situatlsn. The Radicals propose no econo
my, ne retrenchmen., no substantial re
form. Az every man engaged in CONNER
cial pursuits we'll undsrstsnds, the enor
mous public burdens imposed upoa the PEG
pie causes not only stagnation "a busin ess
but csipples their ability to pay their pri
vats Indebtedness. What would be the re
sult il Congress should stop taxation o
every Kind ! Such policy must result il
the increase Of the bonded deity AS Sena
TOR Morril remarked, the legislation o
Congress is on the line Q. reputation, ar,
for the paipable reason that when III,
means of carrying on the Government nm,
faliil.ae the public obligations are Target,
dencieaI, insolvency must be The result. |
requires 10 argument or illustration to de
IN ,nsfratc ths' unless there is re,fechmen
aud economy in the public expenditure
pubic credi; is bound TO 20 TO tLe--wal
and perhaps We hal batter use What NC in.
tended. the moro expressive term, bount
TO 90 to the devil. When the expenditures
losses or out goes Of = merchant or trader
exceed bis income--when there 10 heavy
deficiency at the end af each years bus,.
ness. bankruptcy mus. be tho consequence Q.
and Nth the nation when the expenditures
are largely in excsss of the revenues the
result must be reputation. The merchant.
ths banker. the trader, the manufacturer.
abe farmer, tho mechanic. the laborer.
should think Of these things. Unless there
Il radical ehsage in the financial policy cr
the Gosernmcnt, rum. individual a,d ma.
sional. s'ares us in the face. And the rene
dy 10 With the people. Let il DO manifest
from the elections from this time cut DO, h
Sceal and general, that the people have do.
ssrn'i"e1 upona change Of policy, and The
work ~ill be half accomplished. The peo.
PIE hold the power In their hands. and II
they DO not exercise il to protect their own
lstssssts they will prove that they ars una,
gs self government.
Anoc4oso 81 uIuclon.