Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1873-10-30

hundred and eighty millions OF DOL
lars, which, by the proposed action,
would be added to the present nation
al debt. 1t is an inviting field for lob
byists, for bond brokers and shrewd
spectators. In many Of the States
above named bonds issued for these
debts a be bought for almost moth
ing. In none, We believe, are they
worth ove fifty cents on the dollar.
The assumption by the general Gov
ernment of this vast indebtedness
would at once raise all the certificates
OF Indebtedness to par. 10 pass this
gigantic swindle, the expenditure OF
ten millions Of dollars would be a
mere bagatelle. And what will not
$40, 900, 900 accomplish In Congress, If
"placed where It will do the most
good?" When, as proved by the Credit
Mobilier inquisition, our most promin-
ent Republican and Christian states
men could be purchased for a few
thousand, and wen hundreds Of dol
lars in stock /; when we have t c a
whole Congress stultify itself, violate
the pledges Of economy made by both
Democratic and Republican platforms
aud betray the trust reposed In 1t BY
the people Of the country for 5000 In
greenbacks to Its respective members;
shall We be called extravaganza or tim
orous, If grave fears arise that this and
other like jobs may prove successful.
But the source OF this gigantic debt
and the uses male Of the money thus
obtained are another eason why
its assumption Is absolutely indefens-
ible. II the money thus raised, II the
debt thus contracted. had been for the
development Of the material resources
Of the Southern States, there would BE-
some shadow Of reason In the claim
preferred. But the facts are strong,
the evidence indisputable that nine
tenths Of the debt thus contracted Is
fraudulent, and that the money OBJ
tanned has been stolen from the peo-
pie aud pocketed by lobbying specu-
lators and corrupt legislators and ex-
ecutives. At the close Of the war the
entire debt Of the so called rebel
States did not aggregate 500, ZOO, 900.
The exact figures as we have them col
lated, are a little less than 800, 000,-
600. In about six years nearly $780,
900, 900 have been added. The educa-
tional statistics show that out Of this
enormous expenditure, not $40. O0c, 900
have been expended in school houses.
Summaries, or colleges of learning
and not over $40, 900. 900 have been
legitimately spent In building rail-
roads, digging canals, or other inter-
nal improvements Of benefit to the
people. Or the vast debt which has
been laid upon these States, not one
tenth part has been Of benefit to the
people. 1t has gone to enrich the
gangs Of spectators; the thousands OF
political blood suckers who have
swarmed throughout the Southern
States, wasted the land and corrupted
Its people. The bonds Of these States
are held chiefly by this class, or those
with whom they have ~conjointly rob.
bed the public. 10 render them valu-
able would be simply to put money In
the hands Of swindlers, and arm them
with new weapons for warfare on the
National Treasury. 1.-THE bonds were
held by the Southern people; IL the
land owners, the merchants aud the
mechanics OF the South had them, the
evil effect OF their assumption would
b. in a measure mitigated. But such
Is not the case. The debts are fraudu-
lent both In their origin and their levy.
They are held mainly by thieves, and
If paid this class will reap the sole
benefit.