The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-10-11
Addr IS Of secretary Boutwell,.

PHILADELPHIA, OctO ber 9.-Secre-
tary Boutwell, delivered an address to
a large audience this evening, in favor
of the Republican State ticket, most
of which was devoted to the financial
question. He stated, as the entire
policy of the Administration In re-
gard to the public debt, that it is to
! be paid, principal and interest, ac-
cording to the terms Of the contract,
and in coin, OF 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
| funded debt of the country would not
bear less than $4,000 in addition
to the 1856, 100000 of notes In cir
culation. IF, in these four years,
exhausted as we have been by the
war, we have been able to pay % or
81 per cent. of the public debt, shall
We hesitate as to our course for the
next few years? If we were to pay
500, 100000 a year, which we can
if the present system of taxation be
permitted to remain, the public debt
will be extinguished In less than
fourteen years. IF we pay $50,000,-
600 year, which we can do at de-
creased taxation, the interest bear
ing public debt will be extinguished
If we pay but $26, ,000, 900 a year, and
reduce taxation as we may to very
large degree, the interest bearing debt
will be extiDguished in 80 years. The
astonishment is that under these
circumstances there should be
among a class Of people a doubt
as to what the course Of the
country should be, but, gentle
men, we are now paying on a larger
part ofthis debt six per cent interest.
The events of the last six or seven
months, demonstrating the ability of
the people of this country to pay this
debt, has rendered it not only probable
butt consider it is certain unless there
shall be some disturbance of the peace
Of the world, unless there shall be
some calamity, national In character,
[ consider it certain we can complete
ly refund so much of the debt as we
desire to refund, at a rate of interest
not exceeding Al per cent, applause,
thus saving to the country and to the
people who pay taxes, from eighteen to
twenty million dollars year. You
have paid fifty-six million to the public
debt since the 1st of March last.
Shall we, in the presence of that fact,
shrink from what is before us2 To
be sure there is taxation, but is it not
generous taxation2 and, more than
that. it can gradually, year by year,
be diminished. The burden, whether
heavy or light, can be gradually
removed from the people. II
thought it might not be unin-
teresting, although the facts are
we'll known how far the revenues and |
the proceeds of taxes bear heavily !
upon the people. During last year,
from distilled spirits, and manufac- |
ture and traffic in distilled spirits. |
wine, and every kind of liquors, was |
derived a revenue of forty-four mil |
lions of dollars. From tobacco, manu-
factured as we'll as In the various
forms, twenty three millions more |
Here are nearly seventy millions of |
dollars, which l suppose, in the |
judgment of most of us is not un-
heavys hen about six
millions of dollars from taxes on
fermented liquors. We get six mill
lions from the transportation of
through the country, |
which should be removed as soon as
the condition of the treasury will |
from the sale of merchandise, and |
eight millions from income tax, thirty |
four millions from stamps and fifteen |
millions from other and smaller items
sufficient to make an aggregate of |
dollars. This system OF taxation |
hn 0h CO rs 40 -rnIa
the burden of taxation from the |
mass of the people. A greater amount
of the internal revenue is derived |
from the luxuries of life or from taxes
on people who are able to pay, and
the burden upon the labOring people /
of the country Is, after all, very small, /
but must say that no system of taxa.
tion is decided that does not look to
a larger taxation upon luxuries or
accumulated property. thus relieving
the labor and ordinary business of
life to as large a degree as possible.
Mr. Boutwell, stated the reasons
which controlled the Administration
in the application of the surplus
fund. Congress had prohibited the
of the amount of green
backs, and neither of them nor
the fifty millions of three per cents
could be redeemed without a depart
ure from the law of Congress, by
which the Secretary was required to
allow the volume of currency to re-
main as it was when he entered the
office. Therefore there remained only
the course which has been pursued to
issue six per cent. bonls at the mar
ket price.
Mr.. Boutwell, conclude by an ap
peal - wofkilgmca 70 see that means
Of due a'ion are iuraished 10 chill
drcn, To Incuieate justice and rule the
land upder the principles of virtue,
g1ided by intelligence.