The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1870-02-11
The ApprOpriatiOn-Rill.

in tho chajzl on the legislative, cx.
fseutfye, aud judicial appropriation
Mr.. VOORHEES, addressed the house.
In discussing the origin aud exist
ence of the national debt, be solemn.
~ asserted that vast proportion OF
the public -dcLt, as stated on paper.
lrad no 'cxistnuco in reality; that it
was fiction. created by unjust and
sca4dalous Legislation, or still more
unjust aud scandalous pcwarsion OF
the true contract; that it was fraud
fastened upon tho lator of the nation
utterly without consideration, either
legal or neral; that it was sheer and
naked extortion from the wants,
necessities and helplesncss of the
people and armies, when they were
wholly at the mercy Of capital. He
had made his calculations, and made
them safely. lie had pder-estimat-
ed the wrongs ofthe people, antl the
enorm bus advantages of the bond
holders, rather than. ovcrestimat ted
them. ..1a.... ..
In 1862 there was issued bonds to
tho amounted SEQ, 452 at six
per cent. The average price of gold
was then 1873 10 incurrency. At the
rate the purchasers Of the first issue
of over $50, 600, DOC paid for these
bends $44, $50, GAO in gold. If those
bonds were to be paid back in gold,
the holders would receive S16.95I,-
sol moro than they paid to the
government, This Was . bonus, a
gift. On this bonus, interest to the
amount Of S.. l02, 654 was already
paid, and the interest yet to accrue
on it would reach the sum of S14,-
$50, 526. Tho account, therefore,
Of 1862, stood as follows ..- -.
Amount Of bonds sold s. COOS, 24O
Amount paid for them. ....... 44,03O $40
Amount Of bonus ............. 1851 ,80I
Interest already paid on bonus. 6.l02 ,654
Interest yet y be paid'oH bonus. 1899 $40
Amount Of bonds and interest A..
therein. ................. 37,2 1881
Thus it would be seen that on on
investment of little. over $44, 600, :
600 these rafickers in national
bonds had obtained securities FIR
over S37, 100000, not ono dollar
Of which had left their Golfers, or ever
found its way into tho vanlts Of the
treasury. .4.... ~
The same SYSTEM Of calculation on
the bond issue Of 1868, Sl6O,987, =
$50, with gold averaging 1853. showed
that the bondhoiders had paid only
$l0l, $50, s54, and that the bonus
and the interest on the bonds amount
ed to $3.50, 012,73G on tho transac-
tions for that year. . ..%H ~
The result for 1864. when gold
averaged col, was as follows: -.
Amount of bonds issued. 80. $751; 90, OF
Amtunt paid for them. lS9, 637 ,636
'An,ouht'df bonus. ........... l9l ,594,6.i
Interest already paid On bonus As, 9s2, 70S
Interest to be paid On bonus 1873, $50 1892
Amount Of bonus and interest -
CT bonGs. ....s... AL sos, asa
4 like calculation for 1865, with
the average price Of gold at lab,
showed an. issue of $279, TAG, lao,
bonus and interest thereon to the
amount Of $l57,370, $40. ~ Fl
The result OF 1866, on an issue Of
1874, 9l4. 400, with gold at al, was
n bonus aud interest thereon of 49,
9o7,7s7. 49,
The result. for 1867, ON an issue OF
S42l,4G9. $50, with gold at-l39, was
a bonus and interes: thereon of $500.
15s, 9o7.
TIE result for 1868, on an issue Of
1926, 1850, with gold at 1876. was
q bonus aud interest thereon Of
S247,1755,457.
Like calculation on the 5 per cent.
bonds. $195, 139, $50, showed a bon
US and interest thereon Of S216,-
SAG, 394.
The amount Of bonus and interest
thereon or the whole public debt, he
showed by this calculation. reached
tho stupendous total Of $3.50, SIS, :
$50.
The total amount paid to the
governments for the whole bonded
debt was SI.3Tl, 424,23S.
Who had ever known 2 parallel TO
thisdn the history Of constitutional
governments ?
To.sustain all this. injustice, the
peotle wcfe4 axed'as ~ people ever
were before. The amou4t Of federal
taxation was .$?66, 923, D2.; the
81 -st<so end aioeaf taxation,
$3.50. 000. 900. The total amount.
was 26i6, 923, 402. Thprc was no
Language within the scope Of the huv
man tongue that could exagscrate
the overwhelming significance Of these
figures, In the face Of all this, how
should he characterize that policy
which made free frcm all tax or trib-
ute more than one tenth Of the prop.
erty Of the United Stetes? Painting
had been feeble and unworthy Of the
grest theme. REPRESENTED a sinister
and shocking aspect to the taxpayer;
it stood revealed asa bapsful mon
s:-r. The sight ..ef n excited des-'
psras s~ay fol relief, II could and
would net be borne out. Should
they. therefore. attempt to build
s;ty of:.fefufe fiS.@sthis districts %
The shifting quicksanas At repudia-1
lion? Mighty, xrobgs and q calling
se1se of DIR hBl fkjdstiiie had drivcn
many honest minds 10 embrace that
'sarful .acctripe..: and many more
- $500