The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1870-02-04

ed to pay the interest on the bonds 10
support q large and unnecessary stand
ing army, to feed and clothe indolent
negroes through the agency of that
immense swindle called the Freed
mems Bureau, to educate little ne.
groes nt school and educate big ne
groea at General Howard's college,
and for the numerous other useless,
not t'> say infamous, corrupt and fea-
tering sores on the body-politic. Tho
Radical party are chargeable with
these things; and Special Commits
sioner Wells, in his report for 1868,
says
''Ths Commissioner Ia both Of bis previoas re.
ports has given it ~ his opinion, and addueed
facts IN support Of the Same, that not over lfty
pcr cent Of the amount Of assessed internal rcye-
nue. taxcs Is received in tho national Treasury"
Commissioner Clarke says substan-
TALLY the same thing. Thus we sec
that the people, to satisfy the claim of
q bond-holder, for 500 interest in
gold--for instance, with gold at 130--
have TO pay to the tax-collector $500
in currency; one-han of which gooa
to the bond-holder; the other hall
goes to enrich corrupt Government
officials, perhaps to enable them to
pay the enormous levies of blackmail
put upon them by tho Radical leaders
for election purposes each year.
The public debt in bonds amounts
to about -, 600, 200, 900; the interest
on this in gold is annually s146, ,000,-
900. To pay this interest the people
arc taxed twice that amount, or $292,
600, 900 in gold, or s43S, 900, 900 in
currency, under Radical Legislation. ~
For all this the people simply get in
return the glorious satisfaction of hav-
ing contributed to swell the wealth OF
the bloated and aristocratic bond-hold-
er; TO feed and clothe and fill the
pockets of q lot of dishonest Govern
ment officials, and to keep up the
splendor and extravaganza of Re
publican administration.
The President seems TO lay particu-
lar stress upon the economy OF his
Administration, but says nothing
about the numerous pleasure trips OF
his Excellency and his Cabinet on a
Government vessel, the Ialiapoosa,
and at the Government expense. Hc
says nothing about Long Branch, or
the other fashionable places of resort
where he was "wined and dincd" and
distinguished himself in various ways
nothing about his Secretary of the
Treasury, Mr. Boutwell,, paying pre-
mium of twenty-five per cent. for five
twenty bonds which were redcemable
in currency by virtue of their terms
and of the act of July IL, 1862, known
as the ''legal-tcnder act, and in clear
violation of section twenty-three of
the national bank act, from which I
viii quote only paragraph, after au-
thorizing the issue Of currency by
them:
.1And the same shall be received At par In all
parts Of the United States In payment Of taxes,
cxeises, public lands. aud all other dues to the
United States, except for duties imports ard
owing By the In ted States % individuals. esrpo-
ratians ilnd associations within the United States.
except Interest on tho public debt, and in redemp-
ton Of the national currency"
For thus violating the laws he was
sworn to support, IN my opinion, he
ought to be impeached. This may be
some new fashioned economy, but the
people viii fail to appreciate the style.
The Cincinnati Enquirer, with more
courage than consideration, attacked
me few days since for not voting for
the bill introduced by the honorable
gentleman from Illinois Mr.. Inger-
soil, providing for the issue of $44,-
00O, 900. That bill contained proviso
legalizing and authorizing the purchase
and redemption by the Secretary of
the Treasury of bonds at his discretion
and at such premium as he might see
proper. We have had enough of his
style of redemption of bonds, and I
could not under my oath, nor will I
ever, vote to allow Mr.. Boutwell, to
give to the bond-holder premium of
twenty-five per cent. for bonds which
were payable at their face In currency.
The issue of the additional currency
and the discretionary power to pay
such premiums were In the bill togeth-
er. While willing to have the addi-
tional ;s44 900, 900 issued was unwil-
ling to legalize the Boutwell, swindle.
If the Enquirer can make any capital
for itself or against me it is welcome
thereto.
This state of affairs must have an
end. Labor, which produces every
dollar of wealth, pays every dollar of
interest on tho bonds, pays every cent
of Government expense, cannot stand
such pressure; it must end aud will
free itself from such tyranny and OPP
preston, and now is as good time as
any to commence.
It has been truly said that mo large
national war debt was ever paid or dis
charged except by repudiaton. The
great body of bondholders to-day rea-
ally do not desire to see the national
debt paid, but they are anxious to
have It made perpetual; they want q
secure place to invest their wealth, and
they want the laws so made as to
mortgage the present and all succeed
ing generations, our children and our
children's children; they mortgage
their lands, their labor, their toll, their
sweat, their flesh and blood to the pay
ment of the claims of puffed-up and
insolent aristocracy- an aristocracy OF
wealth, ill-gotten wealth at that. Will
the American people submit to this ?
If so. how long can they bear the bur-
den? For one, so far as the debt rep
resented by the bonds of the United
States alluded to by Secretary Bout
well in his last report is concerned ]
mean the bonds represented by the
terms five .twenties, ? seven -thirties, .