The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-08-21

,nx ,r,eress to he paid by the people wouio
,,,,,;,;.bed. and of course she burtnens
NJ tho taxpayers lighteped to that extent.
Tho CON of this venerable md pure man
h,s recently put forth his scheme, which
we have already noticed. which goes bow
shot beyond that Of his father; In fact, II
proposes to postpone indefinitely the pay
nent of the public debt, but at the same
time to avoid interest upon it by substitute
Ing greenbacks for U. S. Notwithstanding
the latter with the former. BY this arranCe-
,nent the public debt would take the form
of these hand-to-hand promiGes to pay
which, under his plan. are to DC conVerh'
BILE into three per cent. Government bond''
and they again into the greenbackS, Ut inc
option of the holder. While there is much
in this scheme to commend it, it Is untrleo
and uncertain in operation, and not frce
from peril. But its main dilncui'y u.s. 'i''
il could not for moment receive tne up
proyal of the capitalists. but "oulu hico'
their uncompromisiDg opposition. AS Tue
no,icv of the present Administration" Is
a,toeetbcr in harmony with the views OF
the money-power Of the country, IL IS APP
par.nt that Gen. EwING's scheme stands no
chance whatever.
A political revolution might elicit trnm
the Government concession to the west
ern appeal for the diminution OF taSatloh
by relarding the payment OF the puolc
debt but even then we doubt whether
pro OPPOSITION so radical IN It's character IL
that of Gen. living will find support
enough to carry it through to success.
The feeling Of the West on this question
fines clear and firm expression through
the late Chicago speech OF Senator CAah
SEIZURE, who has risen before the country
TO the dignity of one Of the first statesmen
in the land. In that speech he declared
his opposition to the "book- keepers
policy of tinance," which "seeks success
"in paying debts not due with unneces-
"ssry haste" and thus endangers, by
" unnecessary, oppressive taxes, the life OF
''the goose that lays the golden egg
that is, that the weight of taxation to pay
debts not due will break down the energy
of the people and impair the prosperity OF
the country.
Tits is western opinion. The question
| for the powers that be is whether 1t Is bet-
ter to respect this opinion or to continue 10
| work for the good of the capitalists! 1he
uueslion is between numbers and money
Mr.. Boutwell, has cssaved to diminish
taxation by reducing the interest pald ny
The Government to four per cent, but tne
effort has failed. He could not effect SAFE
of his four per cents, and has wlthdra"h
them from the market. In the meantime
the Administration partisans boast OF the
amount that has been p1id by Mr.. HouT-
WELL on the public dcbt-an achievement
only possible through the taxes paid by Inc
ueoplc. And it is these taxes which are the
matter in dispute. These taxes are the
burtbcn complained of by the western pco'
plc. These taxes, to carry out the book
keepers policy" of paying money before
if is due, are what Senator SCHURz loudly
condemns, and he and ali the representa-
tiyes of the West demand that they shall be
diminished. and that the payment o! the
public debt shall not be unnecessarily bur-
ricd, in order that the people may be thus
relieved.
This question is one of the most impor-
tant, rs it will robabiy be the most trou-
blcsome, with the Administration.