Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1869-10-07

CATION as payment OF a superior
Here, in plain terms, is repudiatior
of the interest, and indefinite post
ponement Of the principal. This
proposition, when first preached
IspnteInplated nothing less than al
Infinite issue of greenbacks, flooding
1.-THE country as France was flooded by
nssigna,s, and utterly destroying val
ues of all kinds. Although in its
present more moderate form it is
limited to payment by existing
greenbacks, yet it has the same radi;
cal injustice. Intefest-bearingbon
are to be. paid with non-interest bear.
ing bits OF paper. The statement Of
the case is enough. IFS proposer
would neverdo this thing in his own
affairs, but how can he ask his coun-
try to do what honesty forbids in
private life? itl = I.
~, TAXATION or BONDS. ~ Z
Another device is to tax the bonds,
when. the money was lent on the
positive condition that the bonds
should not be taxed. This, ofcourse,
is to break the contract in another
way. 1t is population in another
form. sf..,..,,s ..s f.t. .s,.a.s...
TO argue these questions is happily
unnecessary, and I allude to them
only because ] wish to exhibit the
loss to the country from such at
tempts. This can be made plain as
a churcil-door. And here ! .Inust ask
attention to details. X -
EXTRA INTEREsf' CAUSED ny
SCHEMES or REPUTATION.
The total debt Of our. country on
the lst Of September, aside from the.
GO, 600, 900 Of bonds issued to the Pa
cilic Railway, was S2,4z5, 1862, sol; and
here / mention, with great satisfac-
ton, that since the 1st OF March last
the debt has been reduced $40 800, 00O.,
The surplus revenue now accruing is
not less than $l00,000,0O0 q year, Of
which large sum not less than &c.,
O00, 900 must be attributed to the bet
ter enforcement Of the laws and the
economy now prevailing in all de-
partments. And here comes the
practical point. Large as is our
surplus revenue, it should have been
more, and would have been more
but for the reputation menaced by
the Democracy. This ean be shown
easily. aafAI@ - JH
IF we look at our bonded debt, we
find 1t is now $2,lO7 1896, 300, upon
which we pay not less than 1874, 000,-
600 i'm annual interest, the larger part
at six per cent, the smaller at five
per cent, gold. The difference be-
tween; this Interest and that paid by
other powers is the measure of our
annual loss. English three per cents
and French tours are firm i'm the
market; but England and France
have not the same unreasonable re-
sources that are ours; nor is either 80
secure in its Government. 1t is easy
to see that our debt could have been
funded without paying more than
inHr per cent. bpt. for thcidoubt cast
upon cur credit by the dishonest
schemes ofrepudialers. Payment
in ggreenbacks" and taxation OF
1are costly cries. itWithOut
these there would have.been slA 900,
900 to swell our surplus revenue.
But this sum, if Invested in sinking
fnndiat four per cent. interest, would
pay the whole bonded debt in less
than 80 years. Such is our annual
loss. luT g-tf 3ss'i a.pfa II luU
The sum total of this loss directly
upon the repudiators is
more than one hundred millions, all
ready paid in taxes: and much fear,
fellow-citizens, that before the nation
can recover from the discredit intiict-
ed upon it another hundred millions
will be paid in the same way n is
hard to see this immense treasure,
wrung by taxation from the toll of
the people, to pay these schemes OF q
dishonest Democracy. Donot forget
that tho cost Of this experiment is
confined to no particular class.
Wherever the tax- gatherer goes there
it Is paid. Every workman pays it
in his food and clothing; every me-
chanic and artisan in his tools; every
housewife in her cooking stove and
fiat-iron; every merchant in the
stamp upon his note; every man Of
salary in the income taxi aye, even
every laborcr in his wood, his coal,
his potatoes, and his salt. Many of
these taxes imposed under duress Of
war will be removed soon, I trust;
but still the enormous sum OF forty
millions annually must be contribu-
ted by the labor Of the country until
the world is convinced that, in spite
of Democratic menace, the Republic
will maintain its plighted faith to
the end. People wish oreduce tax
alton. / tell YOU how. Be honest.