Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-02-02
DAILY SENTINEL.
SATURDAY, FEBRUARY2. 1878.

SATURDAY, FEBRUARY2 2. 1878.
n III CONTRACTION. Or TAXA.
TION9
It Is very common nowadays to at
tribute the hard times, shrinkage Of
values and almost universal bank
ruptcy to contraction Of greenback cir.
culation. That this Is an erroneous
idea is evident from the fact that money
is very plenty in the money centers,
and cansbe obtained at low rates of in
terest. in almost unlimited quantities,
satisfactory securities. The trouble
Is not because there is no money in the
country. bus because it is accumulated
"A the hands Of the few. and the multi.
tude have not the mean to obtain it.
They hxve become Impoverished by
taxation. high rates Of interest, high
rsats and other excessive costs Of liv-
Ing.
During the past sixteen years, the
people of this country have paid in the
one item of interest on Government
bonds. all in gold. the enormous sum
of one billion. five hundred and ninety
ak millions. eight hundred aud my
four thousand, nine hundred and one
dollars. just think Of 1t, if the mind can
be brought to comprehend so large q
sum-sl.596,s54,e01! This sum in one
dollar greenbacks, placed end to end,
would reach seven and oue-half times
around the globe on which we live.
Nearly all this vast amount of money
hiss been gathered from the mouths
and hecks of the multitude, through q
system Of taxation, based on consump-
ton instead of accumulated property,
whereby the poor man is made to pay
- much as the rich one, provided he
feeds and clothes his family as well.
Not Q dollar Of it has been assessed
upon the bonds themselves. It has
been gathered from the masses, paid
over to the few where it has accuinu-
lAted. Add to this the amount paid for
the expenses of the Government, the
robberies from the Treasury, State,
county, city aud town taxes, and we
need not lock further for reasons why
the people are impov erished. business
at . stand still and industries paralyzed
everywhere. It 10 . difficulty that the
reconciliation of silver or imitation of
the currency will not reach or remedy
to the extent that thousands are led to
believe. If the Government were to
issue a hundred millions of greenbacks
to morrow, and take up that amount
of bends, it would reduce taxation to
that extent, but the reenbacks
would not find their way back
into the hands Of the masses.
The bondholders would have just so
many more greenbacks instead Of
bonds, but the multitude would have
nothing moro to sell or other means
for obtaining them than they have
now. II such an increase Of ~circulat-
ing medium operated to increase the
price of labor or commodities that peo-
pie have to sell, it would also increase
the prices OF everything they have to
buy and make it substantially even.
To remedy these evils men must cease
voting for demagogues and elect hon.
est men to Office who will root out cor.
ruption. cut down expenses, equalize
the burdens OF taxation and legislate
in the interest Of the people. instead Of
striving to catch the popular breeze,
with the view OF promoting personal
aggrandizemeut and partisan success.
The puny man, who can not ignore
himself and party for the public good.
is the most dangerous person that can
possibly be clothed with legislative
authority.
WE said the other day, that if the
workingmsn over turned loose in this
State. they would be more than .
match for either of the other political
parties. Taking our statement for a
tsxt, the Enterprise has leading edi-
torial. going to show that q Working.
mems party u not needed in Nevada;
that the laboring classes have nothing
to complain Ut in this State. Wenever
said word about the necessity of such
an Organization. What We did say was.
that the workingmsn constitute =
powerful element in Nevada, which
the old parties would do well not to
antagonize. We spoke only Of posi-.
bilities.
BoDiz has o people than she
can care for. and wants no more until
the winter is over. The Standard has
this: "Our California and Nevada ex-
changes will do Us . favor by caution
ing such Of their readers who intend
coming to Bodie, to defer their trip for
at least three months. People are COM