Year: 1867

i Editors Union anu Dlapalcu.


noticed some days ago a series of arti-
| cles on the subject of the national debt,
and yesterday another, evidently from the
same source, and il seems TO me the writer
has overlooked one of the most importan.
obstacles which may arise in getting Con-
| gress 10 adopt the plan he advocates, that
| is, the opposition Of the national banks.
These favored institutions are receiving
from the government a bonus of above
twenty millions dollars per annum IN GOLD
| for circulating their own notes, which notes
they are losning out TO the taxpayers of the
country al whatever rate Of interest aieg can
get, while they are using the money deposi-
ted with them in buying United States
bonds. 1t is not in the bounds Of possibility
tha! a set of monopOlists, having such "a
good thing az this, will let 20 for the benefit
Of the working taxpayers of the country.
If the writer Of the article alluded TO, will,
instead Of advocating the payment by piece,
meal of the United States bonds, come out
iat-footed and show how beneficial it will
be to the country tO,pdy them all at once, and
call ON the voting population Of the country
10 demand Of Heir servants in Congress law
paying these national bank nstes at once
in legal tenders, the greatest obstacle in the
way of relieving the country will be re-
moved.


The imitation Of prices so much dreaded
by the payment of the public debt in legal
tenders is all bosh Suppose prices agere in
flated, who would be hurt ? The amount
Of paper money now afoat is a little over
six hundred million dollars. Make it four
times that and let prices go to four times
l.. Al l. -
make, if you had four times as much money
as you have now, and all this internal and
internal taxation was taken off the country?
The payment Of the whole interest-bearing
debt of the government would not put four
times as much paper money in circulation
as there is at present


The money invested in bonds is locked
up, doing nobody Except the bondholder)
any good, and the bondholder is really
losing more indirectly than he makes on
the bonds, in the stagnation of business and
paraly zed industry of the country.


How is it that, in a conversation with
any thinking, sensible tax payer, who does
not own bonds that he will acknowledge
the great good that would result to the
country by the payment Of the bonds with
legal tenders; and yet, at the same time, will
shrug his shoulders and say, it cannot be
done; the members of Congress are afraid
of the national banks; their owners and
friends being the wealthy and influential
class Of people, and the other bond-holders,
they are rich and prominent men, and
their rights must be respected"


Is it not time the people who work and
toll day after day in poverty and want TO
pay these neUcr ending tares, to rise up in
their majesty as sovereigns of the land ard
demand the adoption of measure that in
fringes no ones rights, that does not even
squint at reputation, but which proposes
to pay, IN better noney than 1gas given tor
them, every bond issued by the United
States?


Tie h5ag can be done. Let the people
from one end of the land to the other, with
one voice demand it. Let the press Of the
country keep it before the people day after
day until the good day comes. And It
1rjU come. Yours, etc, NNDEX.