The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1870-10-18
LIVE ISSUES OF THE CAMPAIGN.
An Able Discussion Of Fol teal
Questions by Zion 8. 8. Ccx.
[cosTisUED.l
DEBT AND TAXATION.

DEBT AND TAXATION. |
The republicans claim that they are eEsi
tied 20 further confidence because they have
reduced the natIoual debt III eng hteen months
one hundred and seventy millions of primer
pal, besides paying the interest and, sec
ondly, because they have Just relieved thu
people OF eighty millions OF taxation. Nox
there are several ways Of stating truths
There Is q way to make a small truth great
and 50 great as to deceive, and to look and
be like q lie &c those who understand the
matter. 1t is not true that there was any
such reduction OF taxation as eIg hty millions
whatever Of reve ue may have been reduced
1t is not true that The actual reduc
ton made takes or took i'll Ut dlatc effect
For oil that sppears, at the next session
Congress may revive the repealed taxes,
especially those which expire in 1871, a.
they revived the expiring income tax. Blu
suppose the Republicans have paid off out
hundred and seventy mIllions of debt who
gave them the money? Did it not cone a.
all taxes do, out oil the earnings of the PEG
ple-Democrats and ali? Did the RepubiI
can party raise all the cash Did AM
Repu bican pay back conscience money 10
this end? Did the kind donors who give
houses and libraries TO successful generals
furnish these sums? Or 81 the Democracy,
who can show, if they were entranchissd,
are One-hslf and more OF the voting peopl,
of the United States, pay the most OF 1t?
The hurried payment or the debt, by taxing
is the boasted policy Of class of economist.
who want q big disbursement as we'll A.
big tax in order TO keep up gh tariffs foI
private ACKNOWLEDGMENT while another
class more shrewd only pretend to reduce
the debt, meaning 20 perpetua:e the debt foi
bonded and banking purposes OF their Own,
and have no more regard for light tsxes
than the first class. There is some contue
ION in the claims of these fiscal chsrlatans
Now consider if it be true that taxation IL
reduced will not the boasted policy Of great
ly reducing the debt stop? Certainly, to
the extent of the reduction of the tax -
This is almost as wonderfully simple as the
economy of the good old lady who found her
apron TOO short, and cut it off at the top tt
piece it on the bottom TO make 1t longer
The Republicans may claim credit for one
of Two things-taxing the people to Their
utmost capacity to pay off the deb
soon or postponiug the payment of the
debt still taxing the people to pay the l25
600 900 OF interest. 1t is hard TO tell on
which the greatest EN- basis is laid by them,
the debt-paying policy or the taxing rehet
think il is the former, for 1t is nearer the
truth. Now, this resolves itself into the
foolish braggadocia that for five years our
rulers have kept at enormous cost 3
horde of officers. spies, informers. etc, who
have oppressed industry, parsyzed trade
and DESTROYED commerce in order that Gen
eral Grant might make an exhibit which
would pay off our debt in ten years Mr.
II. -, Il. ,nnoob Ill ,b;a
bis policy He means that this debt paying
policy is TO 90 on. and if so. is not the tax
ing to 20 on? Else why is the tax repeal
made prospective? Is it for re enactment
Or why plume so loftily about debt reduc
ton?
WHEN AND HOW TO PAY THE DEBT.
The democracy are no advocates OF per
petual pubic debts. They do not regaro
them as blessings but they do regard as
false q system OF nnauce which pretends to
enhance the national credit by the destruc
ton OF national energies. Why should hot
posterIty share somewhat the burdens OF ouI
big deoI? Ia 1t not enough tor US to pay
one per cent. per year into the sinking funO
according To the present law, or some TWEEN
ty two mlilIons Oh the principal Ever!
man who used to labor nine hours, as 1t Is,
works twelve, and with less result, because
of tbe additional taxes for paying OFT the
principal at the rate of one-tenth OF II per
year. Why must we labor so necessarily /.
help pay the states creditor, whose property
IL bonds y radical congress refuses TO tax
Must oil other property be as It has been,
burdened and stralned to the extremity OF
endurance, TO meet this debt-psyink poiicy =?
While others are sailing In the race OF ma
uOnal progress, unDurdened and on al
unturrowed sea, must We be overwhelmed and
sent to meet the rivalry OF others amid
storms, until the timbers cresk, grcsu and
yswH, and the vessel founders In the deep I
If we had frugal administration, with u
small payment OF the principal there would
be no difficulty in resuscitatIng our shipping
and other interests. Ii Is not large revenues
which make q country. They enfee bic and
destroy. Production and trade-When you
care for these your revenue comes easily and
hurts no one. Take care of the revenues
only, and production and trade languish
Why dry up the elements OF wealth at lie
source ? If they are to be used, why not
use them as they do the rivers IN Spain, not
evaporste them as the fountain or sink tins N
in the bottomless sands but absorbed IL
an alluvial soil, let them flow in rills of irria
Ratloh W rebpptdT INV
golden hsrvests. The country will grow by
relief from taxation and when its wealth
and population are greater, its abilities to
meet heavy taxes will be greater. Our debt
is not yet due. Our resources, if fostered,
ar" boundless. Ii England, densely PEG
pied island, with resources all i'll full devei
opment, does not care to reduce her debt at
ALL but only to pay her interest which is
out nall OF ours, why should we still cripple
our credit, or at least fail to decrease our
interest, by taxing our industries out of
their life ? How can the mo policy" Sec
Rotary OF the Treasury, or his aimless chief
executive, ever refund cur debt under the
present law, at 4, AZ or 5 per cent, bv a
policy of taxation which is implied in the
policy of paying the debt in ten years, or a,
the rate Of $40, 900, 900 in eighteen months?
Il is not credit to be out of debt. 1t is credi,
to b. able TO meet debt? The beggar is ou,
of debt, for no one trusts him. Mexico has
small debt compared with England.
but no credit comparable. Her credit
IS only onesixth that of England. Eng
land has credit because her tariffs are con-
lined to few articles and her taxes are
constantly tighten d. Her industries are
unfettered Her commerce GROWS. She
even does our carrying trade Her manu-
faetures fill oil markets. She banks for the