Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1874-04-14

To assert that the lawmakers, in our leg
islatureS, both State and National, have com.
plete control of the private fortunes-be they
large or smsll-of the people, would seem at
first thought preposterUus; yet such is the
fact, and we expect TO show you, how adroitly
they can, and are manipulating the property
of the many, aud transferring it to the few;
by this financial system, or class legislation
During the war, and as war measure, vast
amounts of Bonds were issued by the United
States, for the treble purpose, first, as a means
of raising money to carry on the war; second
ly, to induce individuals, both domestic aud
foreign, to invest their money 10 the property
perpetuslly of the government, and thirdly,
thereby stimulate them by personal pecuniary
considerations, to greater interest and zeal in
its prosecution. These Bonds were issued
with special privileges, and combining strong
inducements for capitalists to take hold of
them,-frss, the Bond and interest to be paid
in gold secondly. the bond itself which is
7oroperty-to he exempt from taxation, and
thirdly, they become basis for profitable
banking. a more ingenious, or comprehen-
sive scheme of enriching the rich. and max
ing the poor poorer, was never devised by
human craft
To enable us more clearly and fully to
realize the fact that our legislators have COM
plete control over our private fortunes, we
must first ascertain our relation as citizen to
our government as a citizen We are subject
70 the restraints, pains aud penalties Of its
laws. among which is taxation, both direct
aud indirect. this later is the fruitful sourcs
Of the many evils that burtheD the great mass
of the people, and which is imperceptibly de-
fiefing them Of their earnings and property
We are taxed on many domestic manufac,
tnred articles, such as matches, tobacco,
liquors. &c, aud on all imported articles in
the shape of duty, which is added to the price
of TIE article when We go to buy, especially
coffee, sugar anl tea. which are the poor mans
Injuries. The total amount realized annually
by The governn,en, by these modes of taxation
aud sales Of public lands, is the enormous
sum of three h"H1re1 and hirfy-eiyAt mill
Ions s"crn hwnlreJ nnd M;rty>cjghi Mou,
sand, hrO hun1re,7nn9 four 9nlurs. anil Sirty
seren cents, (s53S, ,73S, ,2O467)
1t is both proper and right. yea. it is duty
to ourselves aud our children, and also TO the
perpetuity of omr sovereignty, to know for
what purposes the government demands aud
Iiecis this money off of us. For want Of spe-
c!fo information To the expenses Of the gov
crnuIeut in de'aiI, | will select one item,
namely: the Interest on q, 2GG, $50, ,977 III,
f'rO billions. t'ro AuHdrpd and sirty sir MIL
H""s, flee h"mc'rrJ and thirty MDMsdm7, nine
hundred and serenity seUen dollars and sefeMIy-
one cents, OF outstanding U. S. Bonds. which
alone amounts TO over one hundred naIHi0ns of
dollars annually. This sum of itself is largely
in excess of the entire expense of the goverh-
ment for any one year prior to 1861. This
sum, interest, is burihen that the people
could aud should be releited of. h7 the gov
ernment issuing icynL tender t. s. Treasury
Notes, redeemahlc just as the bonds are, and
pay off the bonds as they become due, thereby
reducing taxation and supplying a gradual
and safe increase of currency, to meet the
constant increasing demands of the growth of
the business of tho country.
4" exemplify my proposition more clearly,
that the Bond and Banking system of our gov
ernmeut tends TO absorb and centralize, will
Introduce Mr.. A the bond holder, and g.
the laDd>hOlder In 1866 Mr. A. invested
in U. S. Bonds, 81 600, 600, upon which he
pays no tag. and upon which he draws an
nually 100000 interest in gold Mr. B. at
the same time, invested ike amount in land,
which pays him about per cent, for that is
the ascertaiDed percentage which lands pay
after deducting taxes. and by this system of
contraction or reduction of the currency as
authorized by Congress, since 1866 Mr.. BIS
landed investment has shruuk fully 333 per
cent, while Mr.. AS bonds have stood firm.
To enable Mr.. B to see more plainly how
rapidly and surely Mr.. A.. the bond holder. is
absorbing his property, through the agency
of our government financial system, will
state their respective cases in figures:
MI AS Bonds. 81 600 900
Int annually $50, ,O00-for 8 yrs, 48O, 900