Year: 1875

country ia divided into debtor and creditor States that
the burdens Of taxation fall unequaly and that they
are more hurtful In some sections than In
others This Is engendering spirit OF hostility on the
part the great and growing West which threatens TO
legislation intend speak TO you with regard 10
the causes Of business troubes the unsound schemes
for the debascment OF currency, which have been
put forth remedies and the pers which threaten
In the form Of sectional passions


DUTY YORK


There Is no place ht for the discussion Of these
great questions as the commercial metropolis OF our
country At this point business distress keenly
felt Its commerce, reaching into all parts OF our
Union, harmed by every local calamity injustice.
There is no State upon which the duty OF resisting
every wrong legislation clearly devoyes as upon
the most commercial, populous and powerful member
Of our national confederacy. An enlightened re-
gard for the great interests and welfare Of New York
and patriotic love OF our whole country alike mpel
TO II wrong is done by the policy action Of our
government to any section Of the Union Are our laws
unequal in their operations Does debt press
unfairly upon the different SatesY Is labor oppressed
by vampire system Of taxatlonS Do unwise schemes
for RELIEF have their origin in just Of complaint
Such questions should be discussed in spirit of fair
ness and with patriotic purpose 10 promote the pros
pery OF our country. Yet we heye been unjustly
sailed as those who take our ground with reference
10 our political interests, and that records In tho
past are condemned by our positions We are com
PEELED, them in order TO vndicate motives, TO
speak OF the events OF the past, and II the recital is
hurtfu to political opponents they charge the
injury TO the ndiscreton Of their advocates Their
sauts upon the motives and conduct OF those who are
trying reform evils constant bitter than
unon those who are guilty OF wrong doing. They
teaching citizens that II is safer be guilty of
official misconduct than IL Is to try TO reform abuses.
Every fair IN nded knows that these attacks give
aid and comfort TO those who are charged with crimes
against the public


efforts 10 hinder those who working them outY Ii
they can do better, why not take the field and win a
fair triumph They have an exalted theatre upon
which they can act They control the general govern
ment They can lift OF many millions Of taxation
which now weigh down American industry, If they viii
scan as closely and crticise sharply their own
officials, for whom they responsible they do the
actions OF those who are trying to correct abuses in
the smaller sphere Of our State government
The great discussion of the day has been
with regard to currency The desire for in
hation is engendered by debt and taxation. SO
far as our debt created for the purpose of saw
ing our Union, 1t will be looked upon sacred,
whether 1t was, in all cases, wisely managed or not
So far the debt of the general has been
continued by diversion Of the taxes levied upon our
people for its payment il has act of bad faith
to the public and violation Of honor with the public
creditor.


OUR DEBT DUE TO msMANAGEMEST


1t is generally supposed that the heavy taxation OF
the general government is due to the war debt This
is true although that debt is heavier charge than
IL would have been If the taxes paid by the people had
been used for its payment Tie government paid out
in the fiscal year ending March, 1874, moro than
$2S5, 900, 900.


or this sum there was paid for interest on


war debt and pensions. $136 600 900
For other expenses more than 149 600 900


IL should have been reduced at least $500 000 000 or
we should have paid of about one quarter OF our
national debt This would have cut down the interest
against about $50 600 annually, asum equal to
the whole cost OF the government before 1S4f Rui
this by no means shows the full gain we should have
made. This reduction of debt would have given us
such credit in the markets of the world that we could
have reduced the interest upon the balance of our in
debtedness.


Now ask yon to see how literally have dealt with
the administration in saying that this should be
paid, and the interest account thus diminished The
average receipts ofthe government for six years end
ing June 80 1874 We're 1926 000 900
Deduct interest on war debt and pensions. 1856 100000