Democratic enquirer. [volume] (M'arthur, Vinton County, Ohio) 1867-1873, 1872-02-21
FromNhe Bucyrus (o) Forum.
THE POLITICAL SITUATION.
ArraigniBent of Grants
Administration and the
Bonded System 10y
which it is Sup
ported.

Powerful and Earnest Letter from
Hon. Henry Clay Dean, Of Iowa
to Judge A. M. Jackson, Of Bu'
cyrus, 0hiot
Hon. A. M. JACKSON
My Dear Friend
| have just received yours Of
October 81, / compliance with
your request, | hastily give
you my views Of the politica'
condition of the country; some
of the causes and the only ef-
ficient remedies, as they have
been impressed on my mind.
The condition of the coun-
try IS deplorable and growing
daily worse. There is a COM
plete severance of the two
great elements of strength, up
on which every country must
rely for its prosperity in their
union, harmony and mutual in
terest- Capital and Labor.
The capital of the country,
within the last ten years, has
been placed in supreme and
arbitrary power over labor,
and as completely owns it as
every master owned his slave.
The entire capital, real and
personal, of the United States,
is more than absorbed in in
debtedness in the name of
stocks of various kinds, put in
the form of bonds, which in
one way or other, is of incalcu-
liable amount. This includes
government bonds, bank
stocks, railroad bonds and
mortgages, State bonds, coap-
ty and township bonds, city
aud corporation bonds, the ac-
cruing interest of which has to
|
be paid annually by the an
nual products Of labor, and is
in fact and in form a mortgage
upon the real and personal
property, the labor, genius.
learning, and productive power
of the country.
The amount Of interest paid
annually upon these various
systems of bonded indebted
ness is greater than the net in
come Of the entire real estate
added to the labor Of the coun.
try after the laborer has been
paid his scanty wages. What
is still worse, the annual in
crease of these stocks and
bonds is many per cent. great.
er than the annual increase in
the value of property, which is
a constant increase of our in,
debtedness, now far beyond
the ability of the people to pay,
But whilst the authors of this
mischief retain power, they
will repeat in the public adj
ministration what has been the
subterfuge of adventures in
private life.-they will carry on
the government in rotten
splendor to cover up their
bankruptcy, whilst they re-
main in power only to leave a
bankrupt estate to those who
follow them.
These bonds which most in
terest us, pay no taxes of any
kind on State, county or mu
nicipal assessments. These
taxes which they should pay
are transferred to other prop
erty--to the lands, personal
property, household furniture
outstanding debts of laborers.
down to the milch cow or
which the daily laborer feeds
his family, the hog in his per
which is to furnish his winter
meat, and the dray and horse
with which he earns his living
These bonds issued by the
government, draw a greater
interest than is paid by any
other government on the face
of the earth to it's creditors; Q
needless interest, made SO by
the Congresses which have per.
formed the double part of Dor
rowing for the people as their
agents and representatives
making laws to secure the pay.
ment Of enormous interest, and
then colluding with capitalists
to secure the money, taking q
large part of the loan them.