The Albany register. [volume] (Albany, Or.) 1868-18??, 1870-01-15
Paying the National Debt.

raging the National Debt. |
President Grant, supported by the un-
broken front of all the Treasury officers,
has earnestly recommended continuance |
OF the present system of taxation until |
the next Congress shall assemble. The |
rapid progress made by the present Ad-
ministration toward iquidating the ma
tional debt has been so satisfactory that
we are not surprised at the position taken
by the President and his Cabinet. They
express very natural desire to relieve |
the country of its financial nightmare to
the greatest possible extent during their
official terms. One of the most promi-
nent features in human nature is to toll
and labor to make provision for ones
children We are not satisfied that they
should stem the rough tide of life, and
battle their way through existence as
fercely as we have done. We would
secure for them such social position and
such communal surroundings as our own
experiences indicate to be worth having.
This strong principle of Individual nature
has been grated into national life, and is
the corner-stone of our public school
system. 1t is the element which so en-
phatically rebuked repudiation, and has
urged the American people to bear with
equanimity their heavy burden of taxa
ton. Justice and patriotism combine in
pleading for those who are to come after
US, and to whose care must be delegated
the safety, honor and continuance Of the
Republic and those great questions of
human liberty and progress, of which it
has been the great advocate and exam
pie. We have no right to hamper them
with the debt of our own contracting !;
to tie their hands and oppress their en-
ergies with legacy of taxes. Had the
rebellion found us staggering under such
a load, bequeathed by our predecessors,
the Republic would now be a heteroge-
neous mass of dismembered fragments ];
mock and derision to the whole world,
and in its ruin must have crushed out
even the semblance of liberty 1t is not
enough to leave the next generation a
united country, an unbroken nationality
The heritage should be accompanied
) with the best guaranty of permanence-
of power to Withstand assault and main
tain independence. No such guaranty
can be given SO long as the country is
struggling under public debt of vast
magnitude. 1t is sacred duty we owe
: to it and to the rising generation to free
them from dangerous burden as soon as
| possible. We should struggle as un-
flinchingly now for its financial lib
Grafton as we did for its unbro ken unity
, Every interest in the country has in
5 creased enormously in value. Popula.
ton is crowding upon US, and our bound
less resources developed with steadily
/ augmenting vigor. There is no appre
D ciabie limit to our capabilities, no bound
: ary to our progressive aptitudes. The
$ public mind is cheered by the rapidity
: with which the debt is being extin
e guished. The vigilance and fidelity
S evinced in the collection and disburse
: ment of the public revenues cannot bt
but most gratifying to the people. Since
e the 4th Of March last, S72,000,000 O.
a the debt has been wiped out, and the
: whole nation feels that the taxes which
:, weigh so heavily on it have been faith
t fully disbursed to cancel its obligations
e The returns for the last six months o
e the fiscal year, ended June 80, 1869
t show net gain of S26,662 ,S12 over tn
y revenue for the same period of the pre-
o ceding year, and the returns for the ST:
g months ended Sept. 80, 1869, show al
!, increased collection of So, 2,3lS, ,96S owe
r the like six months of 1868 and if tn
}. twenty-six districts yet to be heard fror
= yield as much as they did last year, tn
y sum will be increased to nearly S24 900
d 600. Commissioner Delano's repor
is shows that 80 per cent. ef the revenu
is collected on few articles which ma
L be regarded as luxuries, and assessment
7. on capital. Il is certain that taxatio
1t has not been SO heavy during the las
lie year on several articles of great product
ir iveness as in former years. The impost
n have been reduced from two dollars t
re fifty cents on the gallon, and the revenu
was increased from SO, lit ,601 to S25
v 001 $50, being gain Of S16,9S4 ,24s
~ while the manufacturers were relieved
the extent of one dollar and a-half o
at every gallon distilled. The tax on cigar
t, was reduced from $40 on the thousant
IL in 1867, to S5 the thousand, and th
gain of revenue from this source ws
IN S4,76S,8 1854. With such examples ;
r these, it is easy to comprehend our abil
re ty to pay the national debt and tt
a. steadily increasing means for its cancels
tion without distressing any interes
liz | L Hdb IL SHOuiu O0 0OuO do SpCCoiJ
Of possible, and the country freed fro
such an incumbrance admits of no di
ce pute. That we should shirk the dut
and hand it down as legacy to the ne,
in generation is proposition that will fin
re favor with no sensible, honest or patriot
We mind we are of the opinion that j,
dicious reduction of taxes on several a
- ticles of universal consumption wou
= tend to augment their production, ar
= by their decreased cost widely exter
their markets. But we are not friend
Oh to any measure calculated to reduce Il
an public revenue and retard the payne
g, of the national obligations.-,S. f. Con
oI mercial Herald.
K There is station on the Pittsburg
er Fort Wayne and Chicago Railroad callt
OF Hanna, in honor of a deceased citizen
sk Fort Wayne. A train stopped there Il
on other day, and the brakeman, after Il
10 4 II A. 4