Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1871-09-22

a,troas financial reyulsiou. 1t is
now more than six years since the
war closed, ana the prediction re-
mains uniuI.illed. The prediction
was not an unreasonable one if iudg-
cd by the Old order Of things in the
country, and very many feared il
might be realized. Why was it moi
realized? Why have we had no
financial disaster? Why does the
country continue SO prosperous and
capital SO plenty? Why are our in
ternal improvements pushing for
ward more rapidly than ever:
Whence comes the absence OF dis
tress and the presence ofprospcfity:
There is some reason for all this
These results are not the offspring
Of chance. Some cause processing
the close of the war mast explain
the happy condition Of affairs which
has fallen upon the country. What
is ite The answer is at hand. |,
is the kind ana quality Of money
which the fertile minds Of Republic
can statesmen provided for the IA
ton. This unlocls the mystery
The war closed with money cheap
and abundant. 1t has continued 81
TO this day. But cheap and album
dant money would 30, alone have
a,erted disaster; for with all this
il might have been worthless. It's
value did not depend on the soly,n-
ey o..any bank, but-upon the stabil-
ity of the Government. This money
made us strong in war, and it has
made us prosperous in peace. 1t is
of two kinls-Treasury notes
commonly called "gfccnbacks," and
the notes of the National Banks.
The former saves interest to the
Government; the latter pays taxes
TO the Government, and to the
States and counties. Both are prof
table to the Government aud ac-
ceptahie to the people. See how
both these operations prove them
selves. According to the last re-
port of the Secretary OF the Treas
ury there was outstanding of
United States notes and fractional
currency 9335,259, 237.08 not bear
ing interest, which il equivalent t.
u saving Of s2,37l,6l5.43 per an
mum, as this is what the interest at
per cent. woa!I amount to, ii the
Government had borrowed the prin-
notes. Now see how it is with the
NATIONAL BANKS.
United States bonds cannot be
taxed, bat Stock in the National
Banks can be. The last report Of
the Comptroller Of Currency shows
the stock Of the National Banks
throughout the country to be $780,
9,3ol.oo. This great sum is sub
ject to State and local taxation. The
tax thereon will average per cent,
and this will give an aggregate OF
State and local taxation amounting
to Sl2,0ll,a73.O3. Now b. this is
practically tax on United States
bonds represented by the stock tax
ed, the people ought to be we'll sat.
isii"d with the result. In addition
to this the United States taxes the
banks one-halt' Of one per cent each
six months on their circulation.
From THIS source nearly $4,000
10000 WAS derived by the Govern
ment las. year. Then follows the
tax on deposits Of one-quarteI of one
per cent. miannually, and yield
ing last year s2,500,o Now
add the interest saved on the note,
issued by the Government and the
several taxes levied on the National
Banks together, and We have
grand to,;.l # s2o,783,53+42, AS the
amount Of profit derived from these
sources to the Government and to
the people on account of the none
tary sg-tela established hy the Re
publican rarty. The value of this
money is unitor:l throughout the
country. The holder or' either
United States Notes, or National
Bank Notes has but oGe chance Of
loss. The Government must be de
stroyed to render the notes worth
less. Had It net been fer this mon
etary 5yatef. The predictions of dis
aster would long since have been
realized, bat i. can't we'll come
while the ayats.:, '&8ts. The Demo
Gratis opposed is adoption, and
threaten It's ac5trng ticn should they
succeed to ;,ower. They failed in
their cppor,:ti@n, and The welfare of
the country demands that they sh Ill
be no more successful in tLeir efforts
to destroy.
PROOFS OF THE PAETT's SUCCESS.
Bnt why should | continue this
discussion? Turn where yon will,
and evidences of the capacity of the
Republican party 70 govern, and to
govern well, confront you. so oycr-
whcIm;ng is the case made up by
the Republicans that the Democrat
cy have almost ceased to question
it. What has become Of the issues
which they were accustomed to
tender us? Pace their last plat
form by the aide Of those Of former
years, and you can hardly believe
them to have been constructed by
the same party. They seem to have
yielded the fight and are trying to
side with us. am glad they feel
their hclp!essness, and hope they be-
gin to comprehend how much grand
er, and nobler, and better this IA
ton is because Of Republican rule,
than ii would have been if they had
won the battle Of 1859. Though
this nation has been rackcd from
center to circumference BIZ one Of
III" most feartl, wars that ever
visited mankind, the man who
would wish to exchange now for
then must be stupid beyond all com
prchen>ion. And until the great
changes which have been wrought
in our constitution and laws shall
have been perfectly assured, there
will be no national victories for the
Democracy. OF course they can
expect none in this State. We have
been too well governed to wish for
a change. Honest and capable men
have administered our affairs. The