The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1870-09-22

find their way, into the national treas
ury, while 35 per cent. of the daily
earnings of labor are exacted to sup
port the Government and pay interest
ON her national debt. ia9i9isI,l 81;
The same estimate will hold good
in this country. Every man who
earns two dollars per day, has seventy
cents of his wages taken from him,
under the tariff or revenue laws.
Against these inequalities and this
partial legislation we, enter a solemn
protest both here and at the ballot box.
Our platform is equal, uniform and
just taxation. We demand that every
species of property, whether it be, the
muscles of labor, the lands Of, the
farmer, the goods of the merchant, or
the bonds of the bondholder, shall
bear their just share. of the public
burdens. AS the bonds Of the FEEDER
al Government cannot be taxed by the
States, they shoaldibe made TO con-
tribute their full share to the support
of the General Government, and to
meet the enpenses of the WAR;. q
The yastslevies now madeapon the
working classes, by direct and indi-
rect taxation, induce extrayagance,
prodigality, and corruption onlnthe
part of the Goyernmentlof officials. Ap.
plause.] The Republican party is
reeking with avenalitg from head to
foot, from the highest officials to the
paltry spies and informerss 1.-The
Democratic party; yif,s surrounded by
the same temptations, might be equal
ly corrupt. What we demand is a
thorough revision OF our whole sys-
tenn of taxation, more rigid economy
in Government expenditures, and "a
wholly different policy in regard to
the management and liquidation, OF
the public debt. The, only way to
bring about these results, is to over
throw the party in power, as it is
freely committed to the present state
Of, things, and by such political com,
binations as can be effected, inaugu-
rate new and better era Without
a thorough change in legislation, mere
change of political parties and office
holders viii avail nothing. Zap
plahse. aa bib sispaiyibai srsY as
! s7e eovERaMiaNr BONDS. s,tI =
We arraign the leaders of the Re-
publican party at theiibar fof public
opinion not only fotot their efforts to
bring about centralized despo tislfn,, tt II, |,
their perpetuation of an unjust, tariff
and internal revenue system, but for
their trucking to the demands cfltlie
bondhold defs and National Bankers to
the sacrifice Of all the industrial in
terests of the people,d Let the facts
determine whether the accusation be
true or false. - q ! -sei71es SIT 10
/. % 1ye4 waiL9i ,mgtfU2T0s Dah R5YfzI
! The war debt is repPesentedb by two
classes of bonds, the ten -forties,, and
tfive-twenties., The ten -forties' are
so called because they are payable IN
forty years, and redeemable at the
pleasure of the Government after ten
years. They are made payable in coin
both principal and interest, Because
they were made payable in coin, only,
five per cent. interest was eallowed.l
Less than two hundred millions Of
dollars is represented by the ten for
ties and when redeemabIe must be
paid in gold. ,.iapl 8Iitsd assgbo0id iat
! Thesfve-tweaties' are so designated
because payable in twenty YEARS, and
.redeernabie at any time after five,
years. These constitute the, principal
part of the publicdebt, and draw six
per cent? coin interest.i ooi i,9sia4E j
Current with the law providing for i
the, issue of the fve-twenty bonds,
the lega1-tender ooris. greenback''' act
.waspassed. These Ereenbaeks were
declared to be,a legal tender for ali,
purposes except two-namely, custom
duties, and interest on the publicdebt; !,
and it was. further provided that they
should be receivable for all loans made.
to the United, States. Some, Of us.
maintain that, by al fair construction
of the law and the bond,t these oive..
twentles1are payable and should be
redeemed in greenbaeks, at par. The
republican leaders, ; yielding to the
Shylock demands OF the bondholders,
have declared that these bonds were
payable only in coin, thus practically
adding one third to the nations bur-,
dens4 It will not be- denied that the ]
discovery that these bonds, purchased
at forty cents ON the dollar in gold Z
were payable, in gold at one hundred
cents on the dollar, was made after all
the bonds were negotiated, and after
the republican party surrendered itself
TO the bondholders and bankers =.
The ablest men in the republican
party made nnanswerable arguments
in favoriof legal tender payment. In
their State Conventions they resolved
that the five-twenty bonds were pay
able in greenbacks and must be- $50
paid. The republican City Council
OF Cincinnati instructed Eggleston
and myself, by formal vote, official
/ d Z
ly attested by the seal of theb city, ssas
her representatives In the Fortieth
Congress, to insist upon payment in
greenbacks. .I, -. -, ,.,..,s..i -, -
Thaddeus Stevens, the. author OF, |
the law, often dand always declared |
that payment of these bonds in coin |
was never contemplated. In one OF
his, last and dying utterances 10 the
House of Representatives, he used |
language which we commend to the
of those who brand us
IS repudiators. We refer them to the |
(ro,,k,Saoe, s,/,J sGlnbe SocnsaII t0o.o;o,.i