The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1876-10-18
THE FAIR PROPOSITION
MUM Der THREE.
EDITOR DEMOCRAT

$800,0O0,000, 1891 100000 more than
in 1861. This immense volume ofcur-
rency without fixed or stable value,
has produced its natural fruits. Under
the wild and delusive excitement of H.
licit speculation, which it engenders,
yalnes were no longer regulated by the
laws Of demand and supply. Vast
corporations, once the creatures, be-
come the masters of legislation, and
the Halls of Congress, marts where
public trust was sold for private gain.
Fabulous fortunes upon false predi-
Gates became the heritage of individu-
ais, Chou shalt earn thy bread by
the sweat of thy brow was no longer
even o memory. Panl did not plant,
nor Apollo water and men lived not
by the energies of labor, but by the
chances of spec ulation. In one sense
at least, the Utopia of the great dream
err, became the actual life of our peo-
pie. The hour of atonement has come.
Property LAYING gone far beyond its
natural value by the law of compensa-
ton, has fallen greatly in its intrinsic
worth. The normal sequence is panic.
Alarm and anxiety, doubt and appre-
hension brood over all the industries
of the country, and its material activi-
ties lie PROSTATE and helpless under
universal financial paralysis, with an
Indebtedness, National State and Mu-
picipal appalling in its magnitude.
The interest alone on the National
debt, in round numbers including that
paid on the Pacific Railway bonds, is
$I00,000,000, and on the State and
Municipal debts S82,0OO,O00. So that
for interest on debt alone, the National
and local governments require annual
ly, from the people 1882 100000. The
enormous character of this burden is
best shown by comparison. The Brit
ish government pays annually in inter
est, on its National debt 1922, 100000,
and on it's Municipal debt $l3,50O,0
Thus the British Government for the
same purpose as ourselves, pays in
round Numbers Sl35, 100000, while we
pay $l82,OO0,000. And yet there is
little comparison between the actual
wealth of Great Britain and the United
States, the British being far weather
then, than our government.
The parallel is still more discoura-
ging in the costs of the Administra-
ton. The imperial Revenue Of Great
Britain is about $685., 697 900, and the
amount raised by taxation for local
purposes is about $l04, 1887 900. So
that the whole cost of governing the
country is, say S465, $4,000. The rev.
enue of the government of the United
States is s29O,OOO,O00, and the amount
raised by taxation for local purposes
is about $3.50, 100000. So that the
whole cost of Government of the United
States $500, 100000 against $465,534,-
0U0 in Great Britain.
Local taxes alone in the United
States are within a fraction of the en-
tire revenue of the British Govern
ment, yet that government supports
and maintains prolific royal family,
plants and protects distant Colonies,
and governs in vice-regal munificence
a great Eastern Empire. But let US
bring the comparison home. Com
pare the costs government now with
the preceding administrations and the
picture is still more revolving. The
cost of Washington's administration in
its highest expenditure was a little
over S4.000,000; that of John Adams
less than $1,000, 600; that of Jefferson
less than SS,00O,000; that of Monroe
less than 1000, 900; that of Andrew
Jackson, with Indian wars, less than
S3l 100000; that of Van Buren, less
than S35, 600, 900, and for this terrible
squanderirg of the peoples money, he
was hurled from power by an indig.
nant people. What will they do with
the present administration, which has
over $6OO,OOO,OOO per an
mum Of the peoples money, and are
now trying to hide the theft beneath
the "bloody shirt and the ragged uni
form OF Confederate Generals in Con-
gress. The administration of Polk,
with the Mexican war included, less
than s54, 100000; that of Pierce $780,
900; that of Buchanan a little over
$50, 100000, and that of Grant, in
1875, over the enormous sum of 1884,
600, 900. This increased expenditure
in administration necessitated a pro-
portionate increase in Federal taxa
ton. Thus the Federal tax in 1850
was $4,000, 600; in 1860 it was $780,
600, 900, and in 1870 it was S450,O0G,-
600. In 1850 the population of the
United States was %, 10l ,696, paying a
Federal per capita tax of SLIP. In
1860 it was 81 ,443, 1921, paying a like
tax (per capita) of Sl.91, and in 1870
the population was Sc, $685. 7l, and
paid like tax of $ll67. 1t is thus