The times-news., 1938-11-07
I0IDIETTER GIVES INTIMATE
V1EW OF U. S. POLITICS FROM
FOUNDING TO HARRISON. ERA

served III ill VI IhSi
tions. and their great anxiety 10
relieye the worn out soldiers from
the burden of the great debt thaI
had accumulated by the long ana
bloody war of the Revolution. Inc
several states gave up their Wes-
tern domains for that purpose
that with the revenue arising
from imbortation-relleVed Peo-
ple from direct taxation.
."In those days industry ana
economy were fashionable ana a
Young man that did not attend TO
some honest calling was not al
lowed to visit the daughters OF an
industrious farmer. How is II
now? The honest, industrious
Young man must make a fortune
in about three months with ms
map of city lots laid out IN the
swamps of the Western DOMAIN
or he is not considered worthy OF
the young ladies that are brought
up to lie in their beds until elgnt
or nine o'clock in the morning,
and then get up and spend an
hour curling their hair with
black to cook their breakfast, ana
after breakfast to play few
tunes on the piano. Then they are
ready for making few calls at
the very time people arc at dih-
ner. , Ill,
"What hard times. What shall
we do? The banks have failed ana
there is not gold or silver enough
in the world to pay our deDts'
General Harrison is dead and Gap
tain Tylor' is so honest that ne
will not help US. But something
must be done. to relieve those
good black grumblers and specu-
lators. Otherwise they will not be
in situation to cheat the honest
farmer and mechanic any more:
Congress must pass bankrupt
law, constitution or no constltu-
ton. They must have it. The
mails were loaded with petitions
to congress for a bankrupt law.
Congress granted their petition
and the hard earnings of the Ola
Veterans of the Revolution which
they had placed in bank stocks or
out on interest for the support OF
their bereaved widows and or
phaned children were all swapped
off by one general sweep and
those poor widows and orphan
children became beggars. And,
we'll, what next? Why, the noble
lords of his Britanic Majesty have
been so kind as to buy stocks, is-
sued. by the different states at. 40
cents on the dollar and what is
still harder they have paid for
them in goods instead Of money
clothes already made up in the
latest fashion, even to her MaJes-
tvs wedding gown and as the
Young ladies and, gentlemen in
this great Republic have nothing
| to do they have been so kind as
to send them their theatrical COM
panies, circus riders and vocalists
of every description to amhse and
delight them, and now how shall
we pay them for all their kind
nesses. They won't take the bills
Of our broken banks, and, as for
gold and silver, it cannot be got.
ten. They won't take our peck of
flour in payment and, what is to
be done?
"The new states are so poor
that it is impossible for them to
pay even the interest on those
stocks and reputation of any one
of those states would be dis
grace to the whole Union. Con-
gress must pass a law authorizing
the treasurer to issue stocks to
the amount of two hundred mil
lions of. gold bearing interest at
6 OFT per cent per annum, pay
able semi-annually and it is prob
able that these kind broken spec
ulators and stockholders would
be willing to receive those stocks
at about fifty cents on the dollar
in exchange for those bonds, pro-
vided they could have mortgage
on all the Western Dominions and
the assurance of high tariffs on
all the necessities of life as sccur-
ity for the prompt payment of
the interest and the principal at
maturity and as the sales of the
Western Domain, together with
the revenue Of customs, do not
pay the expenses of the govern
ment into about ten or fifteen
millions of dollars, we may as
well give them up and then we
shall be under the necessity of
laying a direct tax sufficient to
meet all the wants of an extrav-
agant government an da large
standing army to impose the col
lection of those taxes. 1t would
give employment for all the sons
of the members of congress and
heads of departments that have
been educated at West Point upon
the expense of the government as
officers of this great army with