The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1869-09-28
NUMBER 81

! lY diScrlml mated In favor OF tue rlcu
against the poor, the IDLE classes against
the laboring classes, and articles OF lux
ury against articles of neces sity" not
| blunderingly, for Gov. Hayes was in
Congress when this tariff was revised and
Mr. Shernan boasts that for ten years
he has taken part in preparing every law
on finance or taxation, and both are GO
ing around the State congratulatins the
people that they are so justly, so evenly
so wisely and so lightly taxed. do not
wonder that Mr. Sherman told us at Can
ton, and told us truly, that he never
knew the difference between revenue
and protective tariff.
These gentlemen, when driven on these
points, tell us that the poor, the laboring
men, the, farmers, do not use imported
goods, and, therefore, do not pay these
tariff duties 1t is true they do not use
imported goods, and do. not pay these
duties to the Government. That is one
of the enormities of this. system. The
price of the domestic article is regulated
BY the tariff The home manufactures
fixes his price that he may just underscil
the foreigner. The consumer pays the
price, and he has the exquisite satisfac~
ton of knowing that none of it goes h-
to tie Treasury; but all of it goes into
the pockets Of the manufacturer.
The Commissioner of Internal Revenue
Mr.. Wells, in his last report, says that
the duty on lumber paid into the Treas
ury In 1868 was two million two hundred
and fifty thousand dollars, but that it
cost the people sixteen millions to col
lect it, -
The duties On salt yielded in 1861 one
million of dollars, but the pric of every
hnshcl of salt made in this country was.
raised to the consumer from twcnty-three
to forty eight cents bushel.
The effect on agricultural interests
produced by this tariff, need not Illus
trate to an intelligent Western audience.
You feel it, The effect on commerce is
stated by Commissioner Wells to he
such that if ships, available for forcign
trade, were furnished us without cost We
could not employ them.
SECRETARY PAYS PREMIUM on BONDS;
| say the expenditures were unnecess
sary and wasteful, and that they were all
in the interest of dead, inactive capital
The last report of the Secretary shows
that he is boarding Sl01, ,2l4,366 in coin
and sI2,1il 900 in currency. Why?
TO what good purpose? The customs oe
half year are there. The people are
paying six per cent. in gold as interest on
the public debt, and the Secretary is
boarding this immense amount EACH
month, with great parade, he sells sig Or
nine millions, and with tie proceeds he
buys bonds, giving in thamarket for them
twenty-five per cent. above par: They
are now redcemable On their faGe--by
the LAWN equity, they are payable in
legal tender notes The holders gave
leo eal tender for them when legal tender
notes were worth not more than half
What they now are, and vet the Secreta-
ry of the Treasury insists Oh paying
premium of twenty five per cent I wi,l
not argue again this question. prefer
to rely on the authority of Sherman, and
Morton, aud Stevens and Ewing. They
say the bonds are payable in greenhacks-
; Then they ought to be so paid, and the
people are robbedywheh premium Is paid
Irthey are payable in gold, the Secreta7
ry ought to pay them in gold AMI not buy
\ up the paper of the governmen alta dis
!, count
i Ii is difficult to speak of this conduct
Of the Secretary with the respect which
is due 10 his higl Office. 1t costs the
people, as Mr.. Ewing has well said more
than all the frauds of the whisky ring,
aud is scarcely more honest than they.
) Under this process of paying premium
\ the market value of the bonds has gone
up from ten to twelve percent, ard 10!
the Secretly exclaims. "What a. marvel
of financ' al ability! My magic touch has
r in three months, raised so high the cred
| it of the Government! My friend, pay
off a few of your notes in the same way,
then stint your family, cramp your. bus.
iiess, seize upon the earnings of your
dren, and insist on giving to your credi-
tors twenty-five per cent. more than your,
note calls for, and your credit will i'm
prove, always provided the public does
not consider you fool, or the Probate
Court does not consigh you to lunatic
asylum.
I DEBT NOT DIMINISHED.
I And in the midst of transactions ike
Ithese we hear Of large payments on ac-
count Of the public debt, and Governor
Hayes congratulates himself that in four
months the debt has been diminished
lS43,000,000 He says the debt, on the
lst of March was S2,525, 100000 and on
the first of August was S2,4Sl ,000,00e.
Why gentlemen. every other Secretary
thought the Pacific Railroad bonds were
part of the public debt Chase and Nc
Culloch always included them. They
amount to S64,00O,0Q0 Add these t,
the 50 ,4S1, 900, 900, an | the total appears
to be s., ,545, 700, or twenty millions
more than IN March.
:, Figures WON'T die, may be very
true saying, but they can he so turned
;, ard twisted that they convey. to us com
mon bcople, who are not Secretaries but
:. only tax payers, very false impression
,, 1.-THE public debt statement were made
- August ISL, IL Nolllu SiloN aCCOTuinS 10
: Mr. Chase rule tf statement 81. 2.662, 900.
= collaborating to Mr.. McLulloch's plan
= 81, ,535, , ,000, 600 instead of S2,4SI 900, ,0Oq
according to Mr.. BoutNell's plan: But
even according to his plan, Tie statement
. shows an increase Of more than tlevei.
. millions of dollars of bonds which bear
= interest in coin. And as if these causes
combined were not enough to palsy trade
and produce that stsgnation which we
call "hard times The Sccre V has con.
tinucd the contraction Of the currency
Ou the 1sE Of September, 1865, the cur
rti!sy; rorsiatiug of bank notes and Ie-
n gal tender notes, amounted To S96l ,G25,
, 900.
J. On the lst Of September. 1858, it
.. amounted to sell ,45a;000, and contrac,
v ton Of S290,00D, ,0pQ'in three years. If
the reports published in the newspapers
q are correct, the currency on the lst of