Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1869-03-06


Foreigners, anl ih, elsl uiuur uans
pOrialion goes Into their PoeAcIs,
The Secretary ascribes the great
reduction in tAo amount derived
from internal revenue 10 inefficient
collection aud o. a rr,lurlinn oflaN'
es. This may be partially lrno NJ the
present time, bat il will not be long
before a still further reduction will
DO attributed 10 the exhaustion oi
tho people, Their capacities arc
truly wonderful, but, wonderful as
they are, human energy aud human
endurance have "a limit, Five han
drcd millions Of dollars II a large
sum 10 bo drawn yearly rwm tho
labor Of the country IN the shape Of
taxation, Is there any system at
labor upon earth that could stand
such u dTainy Our largest river
would cease TO iluw aud his bed
would become dry and parchod ii
tho clouds did not bear hnck the
volume Of water he discharges int0
tho Gulf But here is n financial
gulf into which pours n golden
stream, but from its mclalric sul'ice
arises no moisture, no vapur, no
rain 10 cheer aud TO bless the sources
OF It's supply. How long can il con-
tinue to fiowg How long will thirty
million people 10 content to pour
tile golden fruits of their unrcquit,
ed toll into this gull which, like tho
Dead Sea, has no outlet? Ireland
has groancd under Il similar indie.
ton until the "groenrst isle of tho
ocean" has lost it's vevdurc, aud IN.
Ill pcnury aud want arc the only
inheritance of her children. the
great law of self preservation forces
them to leave her borders in search
OF tho means of Subsistence, aud
whittier will they fly when Ameri-
can, like Irish labor, is made tribu-
tary to the capital and the power
OF other countries? When Europe
shall hold our bonds tho effort to
discharge them must end in eX.
hausting the means Of payment, 1t
would be useless to attempt TO stop
the current that is sweeping our
gold and gold securities 10 Europe.
Many Of our citizens have become
suddenly and vastly enriched by
speculation, peculation and spoIia-
tion. The simplicity Of American
manners and Of republican insttu.
tions pals upon their pampercd
tastes; titles, crowns, and courts fit
before their imagiaations, and they
will exchange their bonds or their
gold for an opportunity Of bcholding
with their own eyes the pomp and
pride and pageantry Of a genuine
aristocracy.
In speaking of restoring the tax
on manufactures, abolished in March
last, the Secretary says:
"Tho objections to the restoration
ofthis tax are that il would Indicate
vaccillation on the part OF Congress. "
| hope | have been reasonably
consstant in life; but am willing
to vacllato Il little in that direction,
[ Laughter. He proceeds.
''ltis also apparent that ifrestored
it would fail to be permanent, by
reason Of the persistent and united
hostility Of II class Of citizens in
tluential and powerful, and whose
influence and power arc rapidly in
croasing."
This is one of the most fearful
declarations that ever proceeded
from any o. the departments ofour
Government. And is it true that
the President and his Cabinet have
become the agents and The servants
Of n privileged class, and that Con
gress, forgetful Of its solemn duties
to the sovereign people, protects The
rich in order that the scourge may be
applied with more fatal effect to the
productive industry Of the country?
From the decision of the Secretary
1 appeal to the grand inquest of the
nation upon the distinct issue that
wealth and influence are not good
grounds for the exemption Of any
portion of our citizens from their
just and equal proportion in all tho
responsibilities Of government. Nci- |
ther policy nor wisdom nor justice |
demands an exemption in favor of |
those who are most able to pay,
In the plan of resumption pro-
posed by the able Senator from In
diana his own misgivings as to the
result are shadowed forth. Why T.
does he allow six months additional .
time to the National banks? The .
moment that bona fide resumption
takes place on the part of tho Gov
ernment the banks will be able to .
resume. There is nothing in their
busines nor in their situation that
commends them in an especial man
ner TO the fostering case of Congress
They are sixteen hundred or more
in number, with a capital of $500,
0G0, 900, upon which they draw from
the Government n yearly interest
of s14, 100000. This sum is paid to
them with the privilege of fleeing
the people out of S50,OO0,00 more.
They are probably as well TO do as
any institutions in the county.
But the provision was not Intended
for their benefit. They are
required 20 hold an amount ofgreen-
backs equal to their circulation; and
by postponing the day of their re-
sumption they are relied on as safe
ty-valves to withhold the greenbacks
from presentation for payment.
These banks are generally conducted
by men Of sagacity and foresight
in financial affairs. Knowing that
gold under any eli cum tances would
be as good as greenbacks, it is fair
to presume that each bank would
have a trusty agent in Washington
on 1st day of July, 1871, and all Of
them would be instructed to be con-
to the Treasury Department