Year: 1879

e fronts us is, what shall be done wit
9 the public debt? What can stat
; craft do to alleviate the condition (
the iaboring poor--to give them en-


ployment, food raiment, just con


pensation for their labor? This ]


tue problem for the statesman. ant
| declare to you, that while all mus
deprecate the lawless spirit OF som,


Of our recent labor strikes, yet my


sympathies 60 cut TO the law-abid


ing poor, who illustrate the highest


| type of good citizenship by a brave


and quiet endurance Of their suffer.


ing and their wrongs. It is no idle


illumination to repeat the haekneyed


words that since the late unhappy


war the Federal legislation of this


country, whether so intended or not,


has tended directly and pslpably TO


make the rich richer and the poor


poorer. 1t was a great calamity to


this country that the turbulent poll.


ticians, who have for so many years


controlled the Federal legislation,


we're sedulously engaged during the


civil war, and afterwards, in putting


money in their purses, and that they


have invested their large acquisi-


tions in securities OF the Federal


Government, and that having the


opportunity to legislate for thom-


selves, they have simply done it.
This is the cause Of all your labor


strikes, and OF the sullen discomfort
of the laboring classes. We have
no dearth of industry when la.
Dor can be had. What we want is
not q redundant currency, for that
breeds unhealthy speculation and
disaster. We do not want the Gov
ernment to give away its money to |
the idle multitude, but want money !
enough for the commercial aud in
dustrial occupations Of the country;
and we want the Government, by a
liberal system Of public works, to |
put it out through the common chan.
nels Of rewarded industry. At this
time we have but half enough money. |
Let it be greenbacks, If you please,
good as a Bank of England note
over the world; and for the trade |
money of the people, let the gold |
aud silver dollars jingle again, as
equals, in your purses as they did in !
the good times past. Then, and not |
till then, will you see good times.
Let the banker bank upon the green
back and the gold aud silver coins
rs CO equals-and let the Govern
ment have it's fiscal agencies judi-
ciously distributed among the ma
tions, as England has, and then the
Treasury note would be as good in |
Europe as the Bank Of England note
Is to-day. But what shall we do |
With State taxation and the public |
debt? The little tribute the citizen
pays to the State in the way Of tax
as should always be regarded as a
preferred debt, after food and raj
ment to his family, first to be paid, |
because it is the consideration he !
pays for the protection Of the law.
Without taxation you can have no
government to protect you, and
the protection which this
odious thing taxation secures things |
would lapse into a condition like
that Of the civil war, when most
men recognized no difference be-
tween the property Of their neigh
Dors and their own, and helped /
themselves with q strong hand when
ever they felt like it. Hence the
citizen should consider his taxes as
4 sacred debt, and first to be paid.
Now. how and when is the public /
lebt of this State to be paid? It
las to be paid by taxation but as
whole, it cannot be paid until the
people have recovered from the inn
ooverishmeut of a desolating civil
war and other kindred scourges, and |
become able TO bear the necessary
surthens. It had as well be under
stood by our creditors first as


ast, as a fact, that at this time
he wealthiest classes OF our people
are too poor for high taxes, and the
poorer, alas ! too poor to buy their
laily bread. But yet this debt,
whose rapid acCretion- will ultimate


y destroy US II neglected, must be
provided for now. A plan may be
devised and upon a reasonable and |
luoppressive tax by which the in
.ersst on this debt may be promptly
met, and the debt itself ultimately |
and utterly extipguished. II it be
possible with such a burthen upon |
as that immigration and develop
ment may in time to come add their
to our taxable wealth, will |
not the creditor wait until that au-
spicious time? If he win not, then
It is honorable to compound with
him-but it is honest 10 allow him
10 dictate the terms. If we can pay |
that amount. all right. If we can.