Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1870-11-03
SPEECH OF HON. 8. 3. cox.

SPEECH OF HON. 8. 3. cox.
me 1s11ewing extracts from speech
dshsered recsEtly At Colunhus. Ohio. BY
Hon. $. $. Cox, win be read with gener-
nj interest,": 7
TIE RepubEcan. claim that shey are en-
tislsd to further confidence because they
have reduced the national debs 10 eighteen
months one hundred and seventy millions
OF principal, besides paying the interest !;
aud, secondly. because they have Just re-
lieved the people Of eighty millions Of tax
alton. Now there are several uays Of sta
ting truths. There is a way to make a
small trath great, and 30 great Is to de-
eeivc, and to look and be like . lie 70 those
Who snaes,tand the matter. Il b not
sfae say ere1nnnx a - Asac>Scu N~s
TAXATION ee{eigaty n1klil0lIA erT~F &C
revenue msy have been rsddctd. Il is
not true that the actual rcdcrtssa made
takes or took immediate iecs.-Fcrf an
that appears at the next session Congress
may revive the repealed taxes, especially
those which expire in 1871. as they rcvi-
we'd the expiring income tax. But sup
Io'e the Republicans have paid off one
hundred and seventy millions of debt who
gave them the money? Did it not come
as all taxes do. out Of the earnings of the
people-Democrats and all! Did the
Republican party raise all the cash? Did
any Republican pay back conscience mo-
ney to this endI Did the kind donors
who give houses and libraries to success
full generals furnish these sums? Or did
the Democracy. who | can show, if they
were enfranchised, are one-half and more
of the voting people of the United States,
pay the most oft? The hurried payment
Of the debt, by taxing, is the boasscd poll
icy Of class Of economists who wan. n
big disbursement as we'll as bi: tax in or
der to keep up high tariffs for private az
grandizement: while another class more
shrewd only pretend to reduce the debt,
meaning to perpetuate the debt for bond
ed and banking purposes of their own,
and to have no more regard for light tax
es than the first class. There is some
confusion in the claims of these fiscal char
latans. Now consider that if it be true
that taxation is reduced, will not the
hoastcd policy Of greatly reducing the debt
stop? Certainly, to the extent Of the re-
duc,ion Of the tax. This is almost as
wonderfully simple as the economy of the
good old laiy who found her apron too
short, anl cut it off at the top to piece it
on the bottom to make it longer. The
Republicans may claim credit for one of
two things-taxing the people to their Ut
most capacity SO as to pay off the deb,
soon; or postponing the payment of the
debt, still taxing the people to pay the
125. .000, 600 of interest. II is hard to
tell on which the greatest emphasis ID laid
BY them, the debt-paying policy or the
taxing relief. think it Is the former,
for it is nearer the truth. Now, this re-
solves itself into the foolish bragsadocia
that for FIVE years our rulers have kept at
an enormous cost horde of officers, spies,
informers. &C.. who have oppressed in
dustry, paralyzed trade. and destroyed
commerce in order that General Grant
might make an exhibit which would pay
off our debt in ten years! Mr.. Shellabar-
ger in his speech claims this as his poll
cy. He means that his debt-paying poll
cy is to 90 on, and if so, is not the taxing
t go ou! Else Why is the tax repeal made
prospective? Is it for re-cnactment? Or
why plume so lof.ily about debt reduction :?
The Democracy are no advocates of per-
petual public debts. They do not regard
them as blessings; : but they do regard as
false a system Of finance which prctends
to enhance the national credit by the de-
struction ofnatinnaie energies Why should
not posterity share somewhat the burdens
of our big debt? Is it not enough for us
to pay one per cent. per year into the
sinking fund according 70 the present law
or some twenty-five millions on the prin-
ciplc: Every man who used tn labor nine
hours, rs 1t i wCras twelve, and with less
result, because of the additional taxes for
paying off the principal at the rate of one
tenth of it per year. Why must he labor
SO necessarily to help pay the States cred
itor, whose property in bonds Radical
Congress refuses to tax? Must all other
property be as it has been. burdenel and
strained TO the extremity of endurance, to
meet this debt-raying policy? While
others are sailing in the race of national
progress, unburlcncd and on an unfur-
rowed sea, must we be overlahcncd and
sent to meet the rivalry of others anil
storms. until the timbcrs crcak. croan. and
yawn, and the vessel founders in the deep
II we had frugal administration, with a
small payment Of the principal there would
be No difficulty in resuscitating our ship
ping and other interests. I. is not large
revenues which make a country. They
enfeeble and destoy Production and
trade--when you care for these your rev.
enue comes easily aud hurts no one. Take
care of the revenues only. and production
and trade languish. Why dry up the ele.
mcnts Of wealth at its source? II they
are to be used. why not use them as they
do the rivers ia Spain, not evsporate them
ut the fountain or sink them in the bot.
| ton,less sands, but aber-bci in nm alluvial
soil. let them fow in rills of irrigation Il
reappear in fruitful fields and golden har.
vests. The country viii grow BY relie
! from taxation: AMI when it wealth and
population are greater, itS abilities IN meet
heavy taxes will be greater. bur deb
is not Vet dae. Our rr> 'Wrces iffosteroi
are boundle>s. If Eugland, dcnsel,
peonlcd island with resources sll in full