The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1869-10-28
of Secretary Boutwell,
PHILADELPHIA, Oct. 8.


PHILADELPHIA, Oct. b.
Secretary Boutwell, delivered an ad-
dress to large audience this evening in
favor of the Republican State ticket,
most of which was devoted to the fnan
cial question. He stated, as the entire
policy of the administration in regard to
the public debt, that it is to be paid, prin.
cipal and interest, according to the terms
OF the CONTRACT, and in coin, or that which
men will receive as the equivalent to coin.
He claimed that if none of the public
debt had been paid since 1865, the fund
ed debt of the country would not be less
than S., 200, 900, 900, in addition to the
1856 900, 900 of notes in circulation 1t
in these four years, exhausted as We have
been by war, we have been able to pay
twenty. five or thirty three per cent OF the
public debt, shall we hesitate as to our
course for the next four years If we
were to pay $100,000,00O a year, which
we can pay if the present system OF tax
alton shall be permitted to remain, the
public debt will be extinguishec IN four
teen wears. If we pay $1,000, 900 year,
which we can do at decreased taxation;
the interest bearing public debt will be
extinguished in less than twenty-five
years. And if we pay but $26,O00O0O
wear, and reduce taxation, as we may to
very large degree, the interest bearing
debt will be extinguished in thirty years.
The establishment is that under these cir
cumstances there should be any question
among any class of people as to what the
course of the country should be; but gen
tlemen,w we are now paying on large part
of this debt six per cent interest Inc
event of the last six or seven months de
monstrating the ability of tho people of
this country to pay this debt, has render
cd it not only probable. but consider 1t
certain, unless there shall be some disturb
ance of the peace of the world-unless
there shall be some calamity national In
its character consider it certain that
we can completely refund SO much of the
debt as we desire to refund at rate of
interest not exceeding AZ per cent. APP
plause. thus saving the country and the
people who pay taxes from 100000 to
$25 200, 00e year. You have paid $685.
0O0,O of the public debt since the LIST of
March last Shall we in the presence Of
that fact, shrink from what is before us :?
To be sure, there is taxation, but it is not
grevious taxation; and more than that, 1t
can gradually, year by year, be diminish
ed The burdens, whether heavy or light,
can be gradually removed from the PEG.
| pie. / thought it might no the uninterest-
| ing, although the facts are we'll known,
to state how far the revenues and pro
ceeds of taxes bear heavily upon the
people During the last year, from dis
titled spirits and the manufacture and
traffic in distilled spirits, wine and every
kind of liquors, was derived revenue of
$44 100000, and from tobacco manufac-
tured as we'll IS the various forms $685.
100000. Now here are nearly $70,0O0,-
900, which suppose, in the judgment of
most of US, is not necessarily heavy
| Then there are about $4,000, 900 from tax
es on fermented liquors. We also get
81, GOO, 900, from transportion of merchan-
disc through the country, which should
be removed a. soon az the state of the
treasury will permit. There are 10000
900 more from the sale of merchandise,
% 600, 600 from income tax, $34, 600, 900
from stamps, and $15, 100000 from other
and smaller items, sufficient to make an
aggregate of $150,000,000. 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 the in
ternal revenue is derived from the luxu-
ries of life, or from taxes on people who
are are able to pay, and the burden upon
the laboring people of the country is, af-
ter all, very small. But must say that
no system of taxation is desired that looks
to a larger taxation upon Injuries or &C
cumulated property, thus relieving the
labor and ordinary business of life to as
large degree as possible"
Mr.. Boutwell, stated the reasons which
controlled the Administration in the ap-
plication of the surplus fund. Congress
had prohibited the dimunition of the
amount of greenbacks, and neither they
nor the fifty millions Of per cents. could
BE- redeemed without departure from the
law of Congress, by which the Secretary
was required to allow the volume of cur
rency to remain as it was when he entered
the Office; therefore, there remained only
the course which has been pursued, to
issue 6 per cent bonds at the market price.
Mr.. Boutwell, concluded by an appeal to
the werkingmen to see that the means of
education are furnished to their children,
so as to inculate justice and rule the land
under the principles of virtue, guided by
intelligence. SEES
The son of the famous Russian
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