Tama County Republican. (Toledo, Tama County, Iowa) 1867-1872, 1870-09-22

ANA COUNIl, IUWA,
gerous and probable modes of des-
troying the National credit under
the Democratic rule would be the
payment or attempted payment from
the National Treasury of oil South.
cin claimants for losses inflicted by
the war. This is not an inference
for it Is boldly avowod by leading
Democrats in both branches Of Con
gress. In April last, druing the pen
dency of bill in the Senate INTRO
duced by Mr.. Howe, Of Wisconsin,
to pay "toyal citizens tor quartermas.
ter and commissary stores taken dur
ing the rebellion" q Democratic SEN
ator, Mr.. McCreery, moved to strike
out the word "loyal' and supported
his motion by an earnest speech, On
tho 2lst OF May, Mr.. Knott, Of Ken
lucky, an able, frank, and fearless
gentleman, one OF the leaders on
the Democratic side OF the House,
speaking on this question, used the
following language:
"Bat, sir, this is not all, nor half
have been speaking Of only so much
Of our debt as we have given our
notes for. Besides this we owe, at
the very lowest calculation, "a. 3.0OO,.
O0O, 900; not TO the bloated bond
holder, Of whom we have heard %
much, but to . class of our people ia
whom OF all others We are under the
most sacred obligations to pay. We
owe 1t to the poor, whose horses and
cattle and sheep and hogs and corn
and wheat, and everything else, were
taken from them TO sustain your ar.
mics IN the field"
1.-THE Union army had the right to
make war for the maintenance !of the
Government, it had the rightto s'for.
age on the enemy" but the Demo
cratic proposition now is, that every
rebel in the South shall be paid for
what he lost during the war, and we
have leading Democrats authority
for saying that the amount required
will be three thousand asgSsss Of d.
ars I!
REDUCTION OF TAXATION.
While maintaining the integrity Of
the National debt against all forms OF
reputation and all classes of repudi-
ators, the Republican party do not
believe in keeping up high rate of
taxation for the purpose OF paying it
off with undue rapidity. The rate at
which the debt has been paid since
the Inauguration Of President Grant
would leave none of the burden upon
the next generation. Aside from the
injustice OF laying the whole pecu-
mary cost of maintaining the Union
upon the generation that was called
upon to make the exclusive sacrifice
Of blood and Of life, it would be a
misfortune II the succeeding genera
tions shonld not be reminded in
some palpable form of the price OF
Liberty and of Union. Had the In.
te:nal Revenue Laws, as they exist
ed at the close OF the war, remained in
ferce till the present time, there can
be little doubt that the aggregate an
nual product would have exceeded
FIVE hundred millions-and this in ad-
dition to the two hundred millions
in gold derived from the duties on
imports. At this rate the entire
debt would have been extinguished
during the Presidency Of Gen. Grant.
But in the judgment Of the Republi-
can party this would have been intol-
erably oppressive to the present gen.
GRAFTON, and hence at every session Of
Congress since the suppression Of the
Rebellion taxation has been reduced
by the tens OF millions. At the see.
sion just closed eighty millions Of
taxes were removed-twenty mil
lions from the tariff on imports, and
sixty millions Of internal taxes. The
duties on tea, aud coffee have been
largely reduced, tho free list greatly
extended and the internal taxes swept
away SO clean that Of the enormous
list imposed by the necessities Of the
war only the following remain, viz !:
Tax On spirituouA visous, and malt
Tax On tobacco asd cigars.
Tax on incomes. NF
Tax on National Banks.
Tax on gas.
Stamp tax.
It will puzslo the most imagine
tive OF Democratic orators 70 find in
this list Of taxes any oppression upon
the people; and We think it would
puzzle the wisest financier to devise
any easier mode Of raising one hun
drcd and twenty-five millions of dol
lars than is presented in the sources
OF revenue embraced in this brief
schedule.
FUNDING rnE DEBT.
But while the Republicau policy
is against keeping up high rate Of
taxation for the purpose of rapidly
paying of our bonds, i. Is not pro.
posed to maintain our whole volume
of indebtedness at its present rate ot
interest. With the boundless re
sources Of our country, and with our
continually approaching credit, it is
believed to be an easy task to fund
our entire dobt at four to four and a
halt per cent. interest-and Congress
has just enacted q law having that OBJ
ject in view. The total amount OF
our bonded debt will soon be re.
duced to about two millions of dol.
lars. OF this amount we'll nigh one.
fourth is already employed in our