The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1870-09-16


thing else, were taken from them to i
sustain your armies in the field" /
If the Union army had the right ]
to make war for the maintainance
of the Government, it had the right ]
to 'fOrage on the enemy" but the
Democratic proposition now is, that
every rebel in the South shall be
paid for what he lost during the
war, and we have a leading Demo
Gratis authority for saying that the
amount required will be three @o~
squd millions of dollars J!
REDUCTION OF TAXATION.
While maintaining the integrity
of the National debt against all
forms of repudiation and all classes
of repudiators, the Republican party
do not believe in keeping up high
rate of taxation for the purpose OF
having it off with undue rapidity.
The rate at which the debt has been
Maid since the Inauguration Of Pres
ident Grant would leave none OF
| the burden upon the next genera
tion. Aside from the injustice of
laying the whole pecuniary 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
| if the succeeding generations should
not he reminded in some palpable
form of the price of Liberty and OF
| Union. Had the Internal Revenue
Laws. as they existed at the close
| of the war, remained in force tall
the present time, there can be little
doubt that the aggregate annual
product would have exceeded hye
| hundred millions-and this in addi-
| ton to the two hundred millions IN
| gold derived from the duties on i'm
ports. At this rate the entire debt
would have been extinguished dur
! inc the Presidency of Gen. Grant.
But in the judgement Of the Repuo-
lican partv this would have been IN
tolerably oppressive to the present
generation, and hence at every ses-
sion of Congress since the suppress
sion of the Rebellion taxation has
been reduced by the tens ofmillions.
lat the session just closed eighty
millions of taxes were removed
twenty millions from the tariff on
imports. and sixty millions of inter
, nal taxes. The duties on tea, cof-
fee. and sugar have been largely re-
duced, the free lis 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 spirituous, vinous, and
malt liquors.
Tax on tobacco and cigars.
Tax on incomes.
Tax on National Banks.
Tax on gas. .
Stamp tax. t.= r.rr rs.
1t will puzzle the most imagina-
tive of Democratic orators to find in
this condensed list of taxes any op-
preston upon the people; and we
think it would puzzle the wisest
financier to devise any easier mode
of raising one hundred and twenty
five millions of dollars than is pre-
sented in the sources of revenue
embraced in this brief schedule.
FUNDING THE DEBT.
But while the Republican policy
is against keeping up high rate of
taxation for the purpose Of rapidly
paving off our bonds, it is not pro
posed to maintain our whole volume
of Indebtedness at its present rate of
interest. With the boundless re-
sources of our country, and with our
continually appreciating credit, it is
believed to be an easy task to fund
our entire debt at four to four and
3 a half yer cent. interest-and Con-
I gress has just enacted law having
that object in view. The total
amount of our bonded debt will soon
be reduced to about two thousand
millions of dollars. Ofthis amount
: well nigh one-fourth is already en-
ploved in our system Of national
: banking, and by law passed at the
late session banking is made free on
5 the gold basis to all who may wish
to engage in it. 1t is therefore quite
II apparent that as we approach the
L specie standard and the business
q demands of the country require 6
d greater volume Of currency, the ten
u dency must be to absorb still lar
Z ger and larger amount Of Govern
: ment bonds as the basis and securi
s ty of the circulating medium. Just
y where this absorption of bonds will
cease no one can now prediet-but
: within a very brief period more
s than half of our total bonded debt
/ will be used as the basis of our Ma
) tional currency. With these bonds
IL bearing four per cent. interest and
7 the banks paying back into the
Il Treasury in various forms of taxa
u ton at least one per cent. if moi
e more, on their aggregate capital
:; we shall speedily see a large proper
Il ton of our debt funded in a form
y that will practically demand but
} three per cent. annual interest from
% our National Treasury. It's, there
u fore, quite apparent that the Nation
q al debt which the Democratic party
81 has been so ready to dishonor an(
: repudiate will, under the wise anC
u faithful policy maintained by tn,
Il Republican party, be soon placed
N where 1t will no longer be recog
7e nized as a burden to the individua
y taxpayer or an obstruction to tn
e development of our National re
e sources and Industries.
;; REDUCTION OF EXPENDITURES.
n Meanwhile the annual expendi
! lures of the government under tn
'g Administration of Gen. Grant ar
1 reduced to the lowest PRACTICABLE
II point. There are two large amounts
e of expenditure over which Admins
h trative discretion can have no con
A troll The one is the interest on til,
n National Debt-the other is the sun
y paid as Pensions to the SCARED anC
disabled veterans of our late war
These obligations must be met will
promptness and cheerfulness unless
we are prepared on the one hand t.
7 repudiate our obligations to the
y men who risked their lives and los
D. their health in defense of the gov