Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1869-10-28


would be LETT IN the hands Of the IN
boring people. (Applausel. Isup
pose l address here in this city
mass Of Iaboring men. There nevel
was any more insidious or dangerou
ldelusion submitted to the laborint
! people OF this country than that
There is no safe way for them excep
to maintain the doctrine to the op
posite theory that the public deb
must be honestly paid. [Applausel
If they give by their votes theil
countenance TO the opposite theory
that by any scheme, or trick, or plan
they escape the obligation that rests
on them, depend upon it the weight
Of the evil will fall very largely
upon themselves.
SHALL THE PEOPLE sIIRIrK FROM
THE PAYMENT OF THE DEBT:
Now, gentlemen, is the debt SC
large that the people Of this country
ought to shrink from it? 1t is large
in figures; it is twenty-fOur thousand
five hundred milIiros # dollars, two
thousand one hundred million bear.
ing interest. But is it o debt from
which the people Of this country
ought to shrink? ] venture the as
sertion that it is not. 1t is a less
debt in proportion to the population
and prosperity than the debt OF the
Revolution, which our forefathers
did not III state manfulIy to assume
and honestly pay. Applause In
the year 1901 the United States owed
$75 coo, eco funded debt. In 1901,
when Mr.. Jefferson took the Presi-
DENTAL Office, it had raised to $685.
OCO. 900. We were then a people
hardly more than 100000 in num-
Der. We have no estimates OF the
value Of the property Of the country,
but it prof. ably was not more than
One-UIietutu no uIuSu az ~ sp'o u"s :
Three millions Of people and debt
of slOO,OOO,0OO, and property to the
amount of 81 ,O00, 0oO, 900, or $1,000
10000 [Applausel. Today we are
40, GGO, 600 strong. We have accumu-
lated wealth in this country no less
than $4,000, 100000. Applause.
During Mr.. Jefferson's eight years
Office the public debt was reduced
from ss3 100000 to s57 ,0Oe, 900, a re-
duction Of s26,OCO,00O in a period OF
eight years--a service for which he
received and fully deserved the
thanks Of this country. Applause
Estimating the property Of the coun-
try now at $50, 1000, OOO,O 900, and the
debt Of today is much less than the
debt of 1901. Consider also that the
capacity of the people to pay the
debt Is immensely increased by the
introduction of labor saving machin-
cry and power into this country.
Consider ell these facts together, and
the public debt Of today dwarfs in
comparison with its public debt
which was assumed by the nation
when It came out Of a colonial exist
ence in the supreme majesty Of a
nation. Our capacity for paying the
debt which remains may be meas
ured by considering what we have
done. If none of the public debt had
been paid from 1865 to the present
time, the funded debt Of the country
would not have been less than 49,
000, 900, 900, in addition to the $685.
000,O 900 Of United States notes IN
circulation. But by the system of
taxation which has existed, and
which has at times borne heavily
upon the people, this debt has been
reduced several hundred millions Of
dollars; and if in these four years,
exhausted as we were by the war,
we have been able to pay IS or SO
per cent. of the public debt, shall we
hesitate BOW, with a population con-
stantly augmenting-with Il valua-
ton continually increasing with the
capacity Of the people to produce
wealth accelerated in great degree
shall we hesitate. rs to- what our
course is to be for the next few years?
II we were to pay 800, GOO, GOO ayear,
which we can payif the present sys.
tenn Of taxation he permitted to re-
main, the public debt will be extin-
guished i'm less than fourteen years.
Applause. If we pay $50, 00O, 00O
II year, which we can do at q reduced
taxation, the interest hearing public
debt will beextinguished in less than
% years; and five pay hut $26, OO0,-
900 a year and reduce the taxation,
ms we may to very large degree,
the interest herring debt will he eX-
tinguished in 80 years. Applause.
Ifyou will furnish by your
votes EVIDENCE to the world that this
debt is to be paid; If by your system
Of taxation you will furnish the
means Of paying 1t, then nothing re.
mains but to get honest public serv.
ants to collect the public revenues
and apply the proceeds to the pay,
mpnf Ofthe debt. There ia nothing