The National tribune., 1897-07-01
ANOTHER DIFFERENCE.
The war closed with the Governm

owing tie bondLolders. 81, 1918, 236, 173
The interests on this enormous sun
was s146,06S,196 in gold, or more thar
s2,500,000 week. This was an in
comparably heavier burden for the
country to bear than the same sum
would be to-day, for the reason that il
had then much less than half its present
population, and not one-third its present
wealth. Still farther, one-third of the
of country had been devastated by
war, and no revenue could be derived
from it. The remaining two-thirds had
to bear the entire burden.
But the people set about paying off
the debt with the same determined
heroism that they showed in putting
down the rebellion. They cheerfully
submitted to a taxation which seems
frightful in these days of comparatively
low rates.
Everything in sight was taxed oner-
ously. A man could not start black
smith-shop or cobble shoes without pay
ing for Government license. Photo
graphs, patent medicines, matches, and
all notes. deeds, mortgages, and drafts
had to be stamped. So it went through
all possible ramifcations. The hand of
the tax-gatherer reached everywhere.
No one submitted more cheerfully to
this-no one paid so large proportion
of these taxes as the veterans.
The 100000 young men who had
been fighting the battles of the country
returned home and became the bone and
sinew of Its producing force. They titled
the farms, opened the mines, felled the
forests, constructed the railroads, estab-
lished the factories. And behind them
at every step logged the Unsuitable tax
gatherer. They paid tribute to him
every hour in the day, from the matches
with which they lighted their fires in the
morning to the soothing strip they gave
their crying babes at midnight.
They paid all most cheerfullv, because
they felt it was for their conntry's good
for the benefit and well-being of that
Government for which they had been
ready to sacrifice their lives. They
voted these taxes onthemselves, Just as
they had volunteered for hard and dan
gerous service.
Few thought of asking for pensions
then. They were all too anxious to do
what they could to get the Government
out of the grasp of the money lenders
to leave the old farm without mort
gage"
The result was that the Government
paid off its huge Indebtedness with
rapidity that astonished the world.
There was no quibbling or huckstering
with its creditors There was no quibbling
or understanding" no complaint of the
hard bargains the money-lenders had
driven with the Nation in its DAYS of
distress No "stay-law" was invoked.
Every man who held Government OBJ
legation was hunted up and his money
rendered him before it was due. Checks
were sent him for his interest in advance
of the day of payment.
The result was that the bonded in
debtedness was reduced from $685.
236,173 in 1865 to s5S5,034,260 at
the close of President Harrison's Ad-
ministration, reduction of S1,7SS,201,-
913, besides the payment of nearly
three billion dollars in interest, pre-
miums, etc
This is the brief history of the debt
due the bondholders. How different
the Governments treatment of the
creditors who gave it far more than the
bondholders lent it. Have they been
hunted up and payment pressed upon
them? Has anybody been taxed to
pay them their just dues? Has the
present generation, which they freed
from subsection to the bondholders by
the heavy taxes they laid on themselves,
been asked to make any sacrifice to
save them from penury and want in
their old age? Not once.
The veterans do not ask that the
people be strained and burdened as thew