The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1869-10-22
SPEECH OF SECRETARY BOUTWELL,.

Mr.. Boutwell,, Secretary of the Treas
ury, delivered an able speech at Phila-
delphia, in support of the Republican
State ticket, ON the 7th, from which we
make the following extract. 1t was
mostly devoted to finances:
''He stated as the policy of the admin
istration in regard to the public debt
that it is to be paid, principal and inter-
est, in coin, or its equivalent. He
claimed that if none of the public debt
had been paid since 1865, the funded
debt of the country would not have been
less than 100000. 600 of dollars in adj
dition to the 356, 100000 notes in circula-
ton. If in these four years, exhausted
as We have been by war, we have been
able to pay twenty-five or thirty
per cent. of the public debt, shall
we hesitate as to our course for the
next few years. He then showed that
by paying one hundred millions annu-
ally, which can be done at the present
rate of taxation, the debt can be paid in
less than fourteen years if fifty millions
annually and reduce the taxation accord
ingly, the debt can be paid in twenty
two years; and if we reduce taxation
still more and pay but twenty-six mil
lions annually, then the debt can be ex-
tiuguished in thirty years. The aston
ishment is that under these circumstan-
ces there should be any question among
Any class of people, as TO what the course
of the country should be. The Secre-
tary then stated that there was no doubt
in his mind but that we can refund as
much of the debt as we desire, at AZ
per cent. interest instead of six, that we
now pay, and thus save to the people
eighteen to twenty-five millions annual
ly in taxes. You have paid fifty-six
millions of the public debt since the LIST
of March last. Shall we in the presence
of this fact shrink from what is before
us? To be sure there is taxation, but it
is not oneroas taxation, and more than
that, it can gradually. year by year, be
diminished. The burdens, whether
heavy or light, can be gradually remov-
ed from the people. He then stated the
sources of revenue to be as follows
Distilled spirits, S44,00O,0O0; tobacco,
500, 100000; (Which he thought would
not be considered unnecessarily heavy,)
fermented liquors. 100000; transport
tation on merchandise through the coun-
| try, which should be remedied as soon
as possible, 100000; sales of mer-
chandise, $4,000 income tax, ST.
100000; stamps, S34.0O0,O00; and from
miscellaneous sources, Sl5, 600, suf-
ficient to make an aggregate of $780,
100000. This system of taxation can be
changed so as to relieve the. burden of
taxation from the mass of the people.
A greater amount of internal revenue is
derived from the luxuries of life, or
from the taxes on the people who are
able to pay, and the burden upon the
laboring people of the country, is after
all very small but in most cases no sys-
tenn of taxation is desired that does not
look to q larger taxation on business
and accumulated property, thus reliev-
ing the labor and ordinary business of
life to as large degree as possible.
Mr.. Boutwell, concluded by an appeal to
the working men to see that the means
of education are furnished to children,
to inculcate justice, and rule the land
under the principle of virtue guided by
intelligence"