Urbana union. [volume] (Urbana, Ohio) 1862-1872, 1869-09-01

VI u9Ileu bE Ine enhancement OF gold.
Seventy National bankers, and twice
that number of bOndhOIders, in Con-
@resS, have decreed, fellow citizens, that
you shall pay the debt in gold The
leaders of the Radicalparty have indOrs-
ed that decTee-frOm the decision Ofboth
l appeal to the peOplC-thc power be-
hind the throne!
The people are satisfied with green
backs-their only complaint is that
they are insufficient in quantity to tran
sact their business, and meet the enexO-
Table demands of tax gatherers. The
high rate Of interest which the Govern
ment IS PAYING taxing q still higher
rate for those engaged i'm business re-
quIrIng money, is closing workshops.
and turning out of femplOymentmnUm
/ bCTd thousands, who, with their deDpDd-
Cnt families, must become mcndicauts
in this land of bOUndless resources. II
needs no argument to prove that money
invested in Government bonds paws bet
| ter than il would in any legitimate bus
iUecs. The bOndhOlder pays no taxes,
| insurance, repairs or rents; he employs
no agents or attorneys and needs no
| place of business. Fire and flood, frost
and drought, famine and short crops dc
not effect him. You taxpayers must
rise at $40 in the morning, work tiIl7:3C
in the evening, thatthe bondhoIdermay
sleep until 1850 the next day.
Ineed not say to this intelligent audi
ence that the rate Of interest which
money commands determines the price
of rent and the wages OfIabor, and that
when money is abundant and cheap all
! productive industries are prOspeTed
! Dear money and cheap labor is centraIi.
I a Ill
paid labor is diffusion; the former is the
autocratic principle, the latter the Dem,
OcTatic.
Again, our debt has been contracted
on a papeT-mOney basis, and if ever paid
| it must be in the same manner. With
gold as the representative and standard
Of our values, it would be impossible fol
the people to pay their taxes. Let us
look at facts. The taxes upon the peO-
pie of the United States for all purposes,
National, State and local, in the yeaI
| 1868, were eight hundred millions OF
dollars.
The National taxes were collected
| through the agency of the tariff and in
ternal revenue laws. By means of the
| tariff alone, one hundred and eighty
millions of dollars were collected on fOUI
! hundred millions of goods. On every
pound of tea and coffee and every bush
| el of salt imported the consumer pays
his proportion.
The taxes of great britain amounted tC
| three hundred and forty millions, and
of France three hundred millions O-
! dollars, while ours reached eight hun.
| dTed millions, or reduced to a. gold stand
| ard, an amount equal to both England
and France. The wealth of England
and France is four times asgreat as ours
while their population is twice as large
| England pays interestOn a larger deb
| than ours, and France maintains {
standing army of amilliOn of men; boil
| these Governments have their cOrrup
courts and royal dependents, yet witt
| One-fOUrth of their wealth aud One-haI
of their population we pay larger levie
/ in the form of taxation than both com
! bined!
! The money circulation of France i
about One-thOUsand millions, cOnsistin,
of about seven hundred and fifty mill
ions in coin, and two hundred and fift7
millions in paper. The circulation o
England is not far from eight hundrep
millions, including coin and paper
The volume Of legal tender money avail
able for circulation, and National banl
notes, in this country, do not excee,
six hundred millions. Gold and siIve
should not be considered, as they ar
only articles of merchandise, and per
/ form none of the functions of money
| among our people. No intelligent maj
can doubt, that without widely extend
/ ed territory, our vast projected and Un
completed enterprises, our Intimately di
versilied industries and emplOyments
our varied productions, our multiplied
/ exchanges, we require more money
| than both England aud France. These
countries, compared with ours, are in
significant in extent, their resources are
well developed, their railroads, work
shops and dwellings are constructed,
their exchanges easily effected. What
a picture this presents of our financial
condition Is it surprising that paralay-
sis prevailsin every branch OfIegitimate
business and enterprise? Is it a marvel
that money kings and bOndhoIders are
TiOting in wealth and luxury, while far
meTs, mechanics, artisans, mmUfactu-
reTs, merchants and labOrers, can, with
great difficulty, pay taxes and keep soul
and body together.
What remedy is proposed for these
evils, and will it be effective when ap-
piled? The remedy is simple, and its
efficiency will not be doubted, except
by bOndhOldeTs, National bankers, UsUr-
ers, and that class of politicians who
yield to capital as the OmnipOtent pow
er in State affairs.