Year: 1875

StdTtilDS dctS TUT tHC

 People.

 For Federal, State, and local purposes we are more heavily tax ed than any people who ever lived. We annually pay to the tax-gath- erers nearly seven hundred mill ions of money, onethird of which amount is perpetually locheti ap l in the treasury vaults, and is withdrawn from trade. The fact is shown to be true by the census report, time and again asserted on the floors of Congress, without contradiction, and reiterated by the press for the thousandth time. but is never referred to by those who are now in favor of making money scarce. In 1860 there were three dollars of money in circulation for every dollar of taxes paid by the people. To-day the amount of taxes and the amount of currency are nearly equal-and if all the taxes were paid in one day there would be no money left with which to carry on trade. If the country required three dollars of currency for every dollar of taxes in 1860; is it not clear that we need at least two to one now?

 l The proportion of three dollars of currency to one of taxes did exist at the close of the war. Taxes have been increased, while the volume of the currency has been decreased two thirds, and the bankers and bondholders are "moving heaven and earth' to make money still more scarce. They now tell us that the bank vaults are full of money, and few ask for loans. Why? Because the business of the country has lost faith and confidence in those who have charge of finances of the country. The effort to make money scarce ralsies the arm of enterprise, depreciates the value of land and of all the products of labor, and causes the merchant to stand yawning and waiting in his store in the vain hope that his goods will not still further depre- ciate while lying unsold on the shelves of his dull and dreaiy store.

 Real estate of every description has fallen and is falling, wheat has come down from two dollars a bushel to one dollar, and wool, which should bring eighty cents, sells for N forty and forty-five. While this dry rot has fastened upon the land-while trade is dead and agriculture dying-the banker and bondholder are in clover. They treat the people as though they were fools, and the people begin to doubt their own senses. In ten years the princi pal of the public debt has been more than twice paid, while the debt has only been reduced one sixth. This fact means aggran- dizement tor the few--and poyer- ty and starvation for the many.

 It is a remarkable fact that at the close of the war, June 30, 1865, in round numbers the debt amounted to $2,6SO,000 and in ten years the people have paid on that debt about $5,5l6,000, ,000, or double the amount of the whole debt and h,nnn, eco over, while the debt is reduced $450,000,000 When we talk of billions our mind becomes confused. Let us make this so plain that our youngest reader will understand the means by which he is to be impoverished.

 Suppose that at the close of the war the public debt was twelve thousand dollars, and that since then we had paid on that debt twenty-four thousand dollars, and had only reduced 1t one-sixth, or two thousand dollars; putting 24 thousand dollars on a debt of twelve thousand we were still in debt ten thousand dollars. Such is the debt statement, comprehen- sively, of the United States dur ing the past ten years. Had such wholesale villainy occurred in in England, France, or Germany, the perpetrator of the gigantic wrong would have paid the penal ty with their lives. But in this country they are not only allowed to live, but are continued in power to continue plunder. How long will the people submit to such a state of affairs? Is it not about time we were hurling from power such a corrupt party ?- arlington City Daily Telegram.

 On tho ooa ult. Messrs. Wig