Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1869-09-16

| Alliance, Tuesday Evening, August "a.
We give below large part of the
Hon. John A. Bingham's speech, at Al
lance, Ohio, on the 9th ult. sonitting
only his introductory remarks:
THE NATIoNAL DEBT.
First, my countrymen, shere is imposed
lupon us a great debt, contracted i'll The
war for the Union, and for the suppress
sion OF the rebellion. This debt wa.
imposed upon us by the treason of the
Democratic party. That party made
this debt necessity. That party by lis
platform declared that il was unc0nsti-
tutional to defend the constitution, and
thereby aided and abetted State seces-
sion and State revolt. And when the
rebellion was inaugurated, not to go out
of Ohio for example, the party in State
Convention, by resolution, gave it coun-
tenance and support, and sent TO the
Congress of the nation such representa-
tive men as Vallandigham and Pendie-
ton, the first declaring mot a man or q
dollar in support of the war for the
Uuion" and the last proclaiming "se-
cession a fact accomplished, and that it
is violative alike of the genius and spirit
of the Constitution to coerce seeding
States"
Is it surprising, with assurances like
these, that eleven States passed erdlnan-
ces of secession aud organized armed
revolt? Is it surprising that to suppress
rebellion, so gigantic in its proportions.
actively supported by the Democratic
party in the South and in the North,
and by the representatives of European
deSpotism required q great expenditure
of treasure and life? Did it not follow,
as necessarily as effect follows cause,
that a great debt must be contracted to
support, for four years, an army number
ing millions of men? The whole ex-
penditure in this war for the Union was
not less than thirty-6ve hundred mil
lion dollars, more than ten hundred mill
lion of the principal of which, together
with the interest on the whole debt, has
already been collected and paid by the
agency of the party of the Union and
the Constitution, the resistance of the
Democratic party to the contrary not
withstanding. To this end the enor-
nous revenue was collected of from four
hundred millions To five hundred mil
lions of dollars annually into the Treas
ury. The debt has been reduced below
twenty-five hundred millions of dollars,
only two thousand millions of which is
interest bearing.
These great results, without a parallel
in human history, have been achieved,
not only without oppression ofthe mass
es, but without affecting them. The
toiling millions know right well, what
ever may be said TO the contrary, that
through all the years of conflict with
rebellion, and from the day of the sur
render to Grant, in 1865, to this hour,
they never were more prosperous, and
never received more remuneiative re-
turns for their productive industry.
With this result before the American
people, forty-three millions of this debt
since the Inauguration of Grant on the
4th of March last, this party calling
itself Democratic, here III the great
patriotic State of Ohio, propose TO repu-
diate the unpaid balance of this debt,
which is part ofthe price contracted to
be paid for our national life.
The Democratic party, in its recent
Convention, did not say repudIate the
unpaid balance of the nations debt,
contracted with the nations dead and
living defenders in the suppression OF
the rebellion, but the party insists that
the bonds and other securities Of the
United States shall be taxed, and shall
be paid in promises to pay-that is in
currency, and that, unless this demand
be complied with, the question of repu-
diation will be considered. Is not the
guilt of this party confessed by this
miserable contrivaIce OF words? The
bonds are to he taxed. Last year We
were told by this party that they demand
equal taxation Of every species of prop
erty. The people of Ohio last year con-
sidered that proposition. They came
to understand that equal taxation of
e very species of property meant a like
r, ,te of taxes, national and State, upon
ii Ike valuations of all that was possessed
by the rich and poor. The people con-
sio,ered it. They thought that it was
an unwise departure from that sound
policy which had laid the unusual
bur dens to the country upon its accu-
tnul ated wealth, and had carefully eX-
emp ted therefrom the poor and also the
producing classes.
They rejected, as alike unwise and
unjus /, the proposition to tax equally
the IN come of the millionaire and the
shon a nd the mine. That great people
op, whp tin ms righteously decided this ISSUE
in 1863 are now insulted by this PROPOSE
ton tha the Government bonds and Sc
curjties shall be subjected to taxation
WHY did not these gentlemen tell u:
whether this tax should be equal or un
equal. whether it should be national, o.
both? Did they not know thpt thei
resolution implied on lis face that thl
bonds and other public securities of the
United Sta tes should be subjected to thu
unlimited power of State taxation ant
national a.xation? Did they not know
when they adopted this resolution tina
tha Surname. Court of the United State