Year: 1867

That national debt is o national
curse, and not blessing-as those in
strumental in fastening one upon this
country would have us believe-is a
truth established by the experience OF
every civilized nation on the face of the
globe. Debt is slarery. No nation can
be free and in d. bt to any considerable
extent. A great public debt is a
double curse. 1t robs the poor of their
substance to pay usury to the rich. II
establishes an aristocracy in the shape
of q class of money-lenders who live
upon the labor of those who produce.
AS the usury of the one class increases,
the privations and the miseries of the
other class increase. Thus, the public
debt of England is the bulwark of pro-
fligate aristoeracy, which luxuria es up
on the profits of the hardest-worked,
poorest paid, most hopelessly degraded
class of white laborers in the world.


Our public debt-the growth of five
wears of financial quackery, political
corruption and popular delusion-is al
ready greater than the debt of England
the growth of three hundred years.
IL seemed to be the deliberate purpose
of those who created this debt, to on
slave labor, and establish moneyed
aristocracy. II this was not the pur-
posr, it must certainly reduce its vol.
ume, and cut down theexorbitant usury
of its holders. A calculation can be
made which will show that, if this debt
is not disposed of in some way, 1t will
in the course of few years consume all
the property in the country. Then each
man who farms what he thinks Is his
own land, will find himself reduced to
the status of tenant, and realize the
truth that "Debt is slavery"


Our debt-now so great that officers
of the Treasury frequently make cleri-
cal mistakes in it of ten to fifteen millions
of dollars-does not diminish, nor does
the usury that is paid upon it. The ex-
travagance and protiigacy of the war
did not terminate when the war is said
to have ended but are continued for
the benefit of those who created the
debt. Plots to tilch from the Treasury
are as "thick as leaves in VOlambrosads
vale" One of the fraudulent schemes
recently detected is one to pay of the
bonds, (bought for thirty-three cents on
the dollar, in gOid,) dollar for dollar,
which scheme it is estimated will bring
a loss upon the people of over six hun
dred millions of dollars. This is more
gold than the Treasury can raise, but
the bond-mongers in the plot are schem-
ing to get all that can be had. This is
a financial scheme which the people
should watch and condemn by their
votes. OF the absolute servitude of debt
will be upon them before they have time
to think of revolving against it.


This is but ono scheme to filch from


he people. Every department of the
Government is filled with corruption
md extravaganza. The War Depart
ment, in time Of peace, expends $780,
900 900 per annum, whereas the same
department in 1859 expended but sl6,-
100000. This extra sum of S27O ,OOO, ,OOU
is for the benefit of the leeches who are
depressing the South, and the Abolition
leaders who propose to carry that Sec
tiop for their Presidential candidate by
force, fraud and corruption. But if the
extravagance in the War Department
is great, that in the Treasury is greater.
That department has hundreds OF
thousands of stipendiaries hanging
upon it, drawing pay from it,
aid getting rich upon it. These
are not confined to the pet National
Banks and the legitimate Revenue ser
vice of the country, but include every
species of great and petty oftic ers,
whose only services consist in drawing
salaries from the Government. while
plotting with Others to cheat it out OF
the revenue. The cost of collecting rev.
enue in this country is FIVE times as
much as it is in any country in Europe.
What is not stolen by the officers il
sauandered in senseless and extravagant
modes of collection. All these burdens
the people have to bear now, and they
will increase in number and in weight
until the people cut loose from the
meney, d nj ,tocracy by voting the psrty
which created it out of power.