The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1870-06-30
The National Debt.
From the GAINESVILLE Gazette

of the national debt by excessive and
burdensOme taxation, direct and indirect
have failed to give any sound reason
therefor. 1t is easy to see that Mr.
Boutwell, as Secretary of the Treasury.
and General Grant as President of the
United States, might have laudable
pride in having it said at the end of
their term of office, that the revenues of
the country had been honestly collected
and applied, and the immense debt
which was contracted to preserve our
national integrity had been greatly re-
duced. But the personal pride which a
few officials feel in the discharge of a
great duty imposed upon them, cannot
counteroalance the best good of fortv
millions of people. What good reasons
exist for extreme haste in the payment ct
this debt? Do they outweigh all other
considerations of an economical nature
that may be named in favor of LONGER
tlmeY We do not believe the argument
is altogether with Messrs. Greeley.
Boutwell, and others who advocate t5e
excessive taxation that now prevails.
1t Is well known to all the world villa
the present enormous debt was contract
ed for, and It is also, well understood
that of all the nations of the earth. the
United States government was the most
shy OF mourning liabilities Of this kind
1t has always been our policy to keen
out OF debt, and it was not until the life
OF the nation depended upon obtaininr
means to carry on the. war, that the pep
pie consented to contract so great AN
obligation. While other nations hive
incurred great debts to maintain large
standing armies in time of peace, or to
pay unearned salaries of hereditary and
effete rulers, it has been the American
Poilcy to depend upon the patriotism of
her cltlzens for defense in time OF danger
and to pay the most moderate salaries to
those who have been called to perform
ofhclal duties. Hence, it was not difficult
TO obtain money IN the critical period of
CIVIL War, from capitalists in FOREIGN
governments, who knew our reputati0n
Tor economy and the ample reso,1rces of
the country. And SD it would he an osI,
thing at the present time to fund this
debt on long time at a low rate of inter
est-at less than one half what anv
citizen pays his banker-and Law the on,
tire sum In the monied capitals Of Eurone
why should this not be done and allow
the business OF the country to recunerota
after the terrible drain and exhaustion &c
five years war For ten lone woaru
years the American people have been
sweating out their hearts blood under
the laws and policy made necessary bv
the Shareholders rebellion. They have
not only been taxed to the uttermost bv
the government In every possible wav
That the ingenuity of officials, aided by
the shrewdness and selfshness of private
interest, could suggest or devise but for
i've years they voluntarily took upon
themselves such, burdens as were never
before borne by any civilized peonle for
the sake OF home and country. LEAVING
out of sight the incalculable loss of life
the cost OF quotas under the repeated
calls for three hundred thousand more"
and the supplies generously furnished
to camp and hospital, would have i'm
poverished other countries, and dis
heartened and ruined their people.
Since the war was over our statesmen
have been educating themselves in the
science of finance and debating the cur
reDcy question without being able TO ar
rive at any satisfactory cancellations IF
they cannot agree upon the problem of
returning TO specie payments, they can
at least resolve to release the peonle
from the cruel burdens that were i'm.
posed upon them by the demands of q
bloody and protracted war, except 50 far
as is necessary to pay the interest upon
the debt and the current expenses of the
government.
Mr.. Greeley is of the opinion that it
would be acting in bad faith with the
next generation to transmit to it DOR
ton of the public debt, but is that truce
We might join the Irishnlan in the inter
rogatory what has posterity done for
us" that we should feel such tender
solicitude for its welfare. If we could
take an inventory of the assets that the
people OF the United States will be in
possession of fifty years from the present
time--supposing the principal part of
our debt should fall due then-we sus~
pect that they would have little reason to.
complain. The people who are so for
tunate az to possess this country after the,
year OF grace, 1900 will be the most
favored human beings beneath the cir.
cult OF the sun. Then there will be
more inhabitants west of the Mississippi
than there will be east of it. The popu-
lation of the United States will then be-
of souls, and more than fifty
States will shine in the galaxy of the
nation. The ten reconstructed States,
purged of their leprous secessionism, and
redeemed and rejuvenated by free labor
and free schools, will be we'll able to
contribute their. full part to the liquds-
ton OF a debt which the shareholders of
yesterday made necessary. The un
developed mines of precious metals in
the west. would by that time, be worth
enough of themselves to paw the entire
na Hinral doht if nat l.. =