New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-09-04
wider scope than the safe little sheep-pen OF
the Saxon Cabinet.
ACnNIZIMG.

maid off since Cen Grant assumed the Pres-
dency, and the Secretary advertises for Twelve
Millions more. to be paid off during the pres
ent month it is no longer possible to persist
in that course. So The World faces about, and
tries this dodge:
asserted that the national debt has been reduced
than five millions during the month OF august anu h
the country Is asked admire President Grant anu MS
Secretary OF Treasury for so suspicious result
II the amount OF 'uD uvpS rs SS H"a9ne minister
who have contributed more TO this result than tney
have to the unwonted abundance OF TIC August pc''n
crop"
WHY, Sirs, it was but last year that you pro-
tested that we were rushing straight on to Ma
tional bankruptcy, because the Republicans were
in power. Seymour asserted, and you upheld him
in it, that we were spending S40O,0OO,OOO per
annum whereof but $1OOO00,COO went to the
Nations creditors, while $3OOOO00O0 wero en-
ployed to subiugate the South. Demar pro-
claimed. Wilson G.. Hunt and Henry Grinnell
indorsing him. and you backing the lot that
the Treasury would be $175,0OO,OOO out OF
pocket on the 1st of July, 1869 Your Presl-
dental canvass was made Oh these and klndred
assertions.
We answered that the Republicans were not
in power-that Andy johnson and his fellow
renegades were squandering money right and
left so as to help you in the fight, and that
we should resume paying Off debt whenever
Gen. Grant took the helm. Have we or have
we not done it
We are saving Millions per month 10y re-
trenching on every hand, and collecting the
Revenue that your JohnsOnized officials and
Whisky Ring cOnspired to steal. Hence, we
have an ample Revenue and are paying Off
| Debt. which Johnson and McCullOch had ceased
| to do since the taxes on Home Manufactures
| were abolished. That 3 what s the matter.
Hear The World rave again
"What the country asked 10 rejoice over Is tho enor
] nous amount OF our taxation the capacous pool Of
administrative wasteiunes5 and eXtrayaeanco IS not
| ONLY filled but runs II the revenue were less re-
dundan Il the people were rot so pHndered ~ take'
there would be less money Tor e kcpuDcan oHicals 10
saunuder and because tey collect more than enough TO
gorge their apney we are "a TO r5s 9r
little Of the OVERLOOKING revenues, they deserve CEN
sure for spending and wasting much. The bu'lness OF
tho countfy crushed under oppressive taxation. ANA
"a reductions rs have taken place ~ the deDt merely
attest the ptodEious amount OF the Federal taxes
| Why, Sirs, the taxes are the same that
| thew have been since our Congress reduced
them over two years ago. They arc the same
that johnson and McCulloch could barely pay
their way with last year. Their "prodiglous
"amount" is thirty to forty per cent. less than
il was for two years after the close Of the War.
They are the same under which Dclmar figured
a deficit of *l75,OOOOJ0 last July. What are
you growing at
But hear The World again:
'Thcre Is no good reason why money should bo taken
lie public debt before It falls due. Most Of enter.
| pr.ug business men are borrowers. and tho money
wa, is akrn iu could be used by them with great
adyar,1s. and profit IN the prosecution OF their under
,akr.s; thrs multiplying the national wealth and IN.
crasug the resources out Of which future taxes are 10 be
! paid. At present are taxing many OF our great
Industries out ~ existence; mpalIing the national
wealth. and resources out ~ al proportion TO the sna
reduction o! the public debt Half the business men OF
the country would Ice ruined forced To make immediate
payment OF their private debts because they neel mo
borrowed capital which they arc using 70 enable them to
make ne money 10y wh.,h they ~ pc 10 d mem
selves from their pccunary obigaons, ioIceu pay'
urt Of tho public debt operates Ia the same manner IN
asmuch the heavy taxes applied to that object
diminish thc resources 0! tie community Tor the prosocu
ton OF lucrative pHrsu!t7.
Great Britain the weaithIest, and financially tue
to make any strained eaOFts to reduce the principal
OF her debt"
Yes, Srs but Great Britain pays but
three per cent. interest on her Debt, while
most of ours draws sir; and we are hard at
work to reduce our rate to something like hers.
We can do it if we keep on making our bonds
some Millions per month scarccr and scarcer,
and we cant do it without. You understand
this and you dread the funding of our Debt
at four To five per cent IA n Republican
triumph. The People will give the Admins
tration the credit if it shall effect n reduction
of our annual interest from One Hundred and
Twenty Millions to less than One Hundred
Millions per annum. You mean to get the
taxes speedily reduced so rs TO defeat this
reduction of interest, and we mean to beat
your little game See if we do MT
Once more hear The World:
4
first thing To which British hnaDcers aud statesmen turn
their attention dimnuton OF the public burdens by
taking OF the which produce the surplus
They regard the growth Of the national wealth
important than the reduction OF the public debt"
On chat plan, while each War increases a
National Debt, years of Peace do not reduce
it; so that every age will swell it till it can
no longer be borne. But we have seen private
letters from Mr.. Gladstone deploring this inn
provident policy, and expressing his ardent
hope that our American fashion of beginning
steady reduction of our Debt on the recurrence
of peace may shame Europe into following our
wholesome example. Nothing in our history
seemed to him more worthy Of admiration.
-Ncighbor while the Republicans remain in
the ascendant, we shall persist jim paying of
our vast Debt. Whenever your party succeeds
to power, we look for different policy. Those
who believe in paying debts rather than
nursing. and perpetuating them, will vote ac
cordiDgly.
Are the Fcnan prisoners in Kingston JAIL
Canada, treated with cruelty resembling that
which used to be practiced in the prisons of