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WE ARE ALL MORTGAGED.

Mr. SPAULDING, a Republican member of Congress from the Erie, N. Y., district, made a speech in Congress, in which he said:

required to pay at least one hundred millions the inevitably enhanced military and naval per annum as interest thereon. Add to this armaments and expenses of our government, caused by this atrocious rebellion, and our current expenditures can hardly be brought Debt and taxation are the inevitable neces- below two hundred millions per annum, insities of war. Every day that the war is pro- stead of the fifty to seventy millions that formlonged the debt is increased. The daily in- erly sufficed. This involves high taxes on evcreasing debt of $2,500,000 must all be raised erything that will bear taxation—on the luxby taxation in some form, or the debt will not ury and income of the rich, and on the cheap be paid. The Government is spending at a and humble enjoyments of the poor. We have fearful rate, the accumulations of former years hitherto been among the most lightly taxed of prosperity. Every dollar of debt contract- people on earth; we shall hereafter rank next ed becomes a first mortgage upon the entire highest after Great Britain and perhaps productive property of the country. It affects France. the farmer, laborer, mechanic, manufacturer, merchant, banker, commission merchant, professional man and retired capitalist. Every pound of tea, coffee, and sugar used, is taxed to pay the expenses of the war, and the persons using these articles of daily consumption pay the tax in the increased price. Every person that uses wine, brandy, whisky, beer, cigars, or tobacco, pays a portion of the war tax. "All necessary articles of dress, such as shoes, boots, hats and wearing apparel, are taxed in like manner, and all superfluous and unnecessary articles, such as silk, lace, diamonds, and jewelry, are heavily taxed, and I would be glad to see the tax still further increased on them, in order to prevent, if possible, their use at this time. Every person that rides upon the rail-roads, reads newspapers, draws a check, or sends a telegraphic message is taxed for war purposes, but I need not further enumerate the different modes in which everybody is taxed every day to pay the expenses of the war.

"This war debt is a mortgage alike on all the productive industry and property of Republicans, Democrats, Old-line Whigs, Conservatives and Abolitionists."

OUR NATIONAL DEBT-THE MEANS TO PAY IT.

No true patriot would think the price too great, if a virtuous and economical use of every dollar in the nation, was required to save the old Union of our fathers, but in view of the foregoing blistering, damning facts of frauds by the hundreds of millions, the following prediction from the New York Tribune of January, 1864, is anything but pleasant to contemplate. Some one in Washington had written to that sheet presenting the necessities of increasing the salaries of clerks, whereupon the editor remarks:

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"Such is the permanent prospect. For the present we are fighting for our nation's life, and the strain upon our resources and credit is fearful. We get on, and that is about all. We hope to get through; but blind confidence will not carry us through; it must be supplemented and justified by the most rigid economy. Yet we see men who should be foremost in thrift and providence contriving to plunge the government into all manner of canal, railroad and other outlays for objects not indispensable to national triumph in our great struggle, precisely as if we were at peace, with a full treasury and no debt! Are they stark mad?

'But to the clerkships:

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and exacts sacrifices from nearly every Amer"The present struggle imposes burdens on ican. If this war shall cost twenty-five hundred millions, somebody has to pay it. Yet almost everybody acts as though he ought not to shoulder a portion of the load! Manufacturers say three per cent. on their products, with another dig at their incomes, is too much. Capitalists think it hard that, after paying taxes on all their property and business, they should be called on for three to five per cent. on their incomes in addition. Rum, tobacco and lager beer think the excise too hard on them. Business grumbles at stamps, license-fees, and all sorts of bit-by-bit exactions. And labor thinks it should have its wages raised to balance the enhanced prices of nearly every thing that it buys for consumption. In short, every body thinks the cost of this gigantic war ought to be borne by somobody else."

According to WENDELL PHILLIPS, our public debt must be now quite three thousand millions, including amounts ascertained and unascertained. Indeed, we think when all the bills are settled, this amount will be enlarged, immensely.

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would require $250,000,000 to be paid every thirty days, or $8,333,333,33 each day. If the amount should be divided equally, according to population, among the Northern states, it would be $150 to every man, woman and child, and to ascertain the amount that would, on this hypothesis, be assigned to each state, county, town, &c., let the reader multiply the number of inhabitants in any given district by 150, and he would have the probable sum which that district is mortgaged for-not wholly to sustain and save the Union-but largely to fill the pockets of thieves and public plunderers.

THE NEW CURRENCY-STAND FROM UNDER.

States

of Greenbacks, while this new Une
currency is to be but a representative of govern-,
ment bonds. Thus, these new issues are only
to be fourth cousins to a representative, which
in fact, is just no security at all, for the nation-
al debt is so ponderous now, that if the makers
of this new currency should fail to redeem (and
not one of them can) their notes would be value-
less, because it would be out of the power of
the government to redeem, by keeping their
Bonds at par.
Let us see how easy it will be
to make a currency no better than unwashed
paper rags, because it will stand on no available

basis.

A desires to start a bank with the prefix "U. S." to it. He has just enough money to pay for the dies and to put up the "margin"

York and offers the "per cent." to a Wall street broker to loan him greenbacks, with which to purchase $50,000 in 5-20's.

Old salts say that when the gulls flock about and utter plaintive cries, that a storm is brew-[brokers understand this.] He goes to New ing. We see evidences of a storm in the monetary affairs of the country in the plaintive cries of the bankers who are petitioning the Legislatures for "relief." When all is going smoothly, the bankers are quiet, but they are the first to snuff danger from afar, and when they invoke Legislative aid, then look out for squalls. We tell our readers to stand from under, for this bank barometer bodes a storm of dreadful fierceness. Already we see that greenbacks are to go up to a premium, when all know that it takes just about $1 60 in in greenbacks to buy one in gold. Still greenbacks are to be quoted at a premium, and why? Simply because of the rotten system of Mr. Chase, by which a portion of the greenbacks are to be withdrawn, and the government wild cat banking currency put afloat. This stuff will be so low, that greenbacks in comparison will be at a premium. Call it what you like, and the result is the same, and to be correct, the matter should, and probably soon will be, stated something like this:

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This done, he issues the $50,000 minus the "margin," pays the same over to the broker, and is the proprietor of a bank of $50,000,and so he may keep on till he has a bank of a mil. lion circulation. But when called on to redeem-what then? Why, he can't do it, for his capital is nothing but air bubbles, and the bonds are then upon the market. The first batch will beget the second, and so on, till the whole shall crumble beneath the ruins and the basis will become worthless for use, because it will be brokerized at the lowest figure, and the result will be that the people will, in the end, suffer the loss. And all this to make a false popularity for Mr. Chase, who expects to have the credit of keeping up Greenbacks by bankrupting the people on their second-rate representatives. To this are we coming, depend up

on it.

A HIGH OFFICIAL'S TESTIMONY. Mr. McCulloch, the official Comptroler of the currency at Washington, has addressed a circular to the officers of the new national banks, in which he cautions them to beware of the crash, as follows:

'Bear constantly in mind, although the layal states appear supeficially to be in a prosperous condition, that such is not the fact. That while the government Is engaged in the suppression of a rebellion of unexampled fierceness and magnitude, and is constantly draining the country of its laboring and producing population, and diverting its mechanical industry from works of permanent value to the crowded, and the country is to the same extent depleted,and construction of implements of warfare; while cities are waste and extravagance prevails as they never before prevailed in the United States, the nation, whatever may be the external indication, is not prospering.

"The war in which we are involved is a stern necessity, and must be prosecuted for the preservation of the government, no matter what may be its cost; but the country will unquestionably be the poorer every day it is continued. The seeming prosperity of the loyal states is owing mainly to the large expenditures of the government and the redundant currency which these expenditures seem to render necessary.

most universally of the "shoddy" character, that even novels and poems, not to speak of the thousand of newspaper and magazine squibs and protests are devoted to the ridicule of the shoddy contracts and shoddy cheats, so alarm

"Keep these facts constantly in mind, and affairs of your respective banks with a perfect conscious-ingly prevalent in the country. The big bugs

ness that the apparent prosperity of the country will be proved to be unreal when the war is closed, if not before; and be prepared, by careful management of the trust committed to you, to help to save the nation from a financial collapse, instead of lending your influence to make it more certain and more severe."

are getting rich, and the smaller fry are fast following suit, in imitation of their heartless and pampered superiors. And the COVODES shed crocodile tears over this stupendous fattening process on the sufferings and miseries of the country.

The New York Custom House, under the sole management of the most rabid sect of modern Republicans, has become so much a stench and by-word of reeking corruptioneven to supplying, by connivance, the rebels with much-needed supplies, that even the corrupt Republican congressional leaders have felt constrained to appoint an investigating committee, which has already discovered some 'big leads' of Republican rascality; while another investigating committee, devoted to more general and miscellaneous Republican robberies and rascalities, has also been ap

To a shrewd, practiced banker's eye, the true meaning of these hints is simply this: be careful and save yourselves when the crash comes-for come it will-for the basis of your currency will be of no avail. In what other light can this be read? Let the people be warned in time. The common "pet banks" already see the storm, and are preparing to take in sail. Keep a constant eye to the shore, and let no ignus fatuus lead you on to the breakers of destruction. A currency that cannot fall back on a substantial basis is good for nothing. This move of Mr. CHASE is only shifting the onus of the forthcoming crash from his greenback system to a personal, and infinitely worse one-keep an eye on the alti-pointed by Congress. tude of gold. The tornado is not far distant.

REPUBLICAN THIEVES AND PLUNDERERS.

Two or three years ago, a batch of Republican Congressmen, MATTESON, of New York, among them, who had accepted bribes, and had failed to keep their guilt as well concealed as their fellows, were expelled; and now the hypocritical Senator HALE, of New Hampshire, acknowledges to having received a rich bribe

the Senate had his case on the tapis. Restive under their development, and as misery loves. company, HALE concludes to pitch into the Secretary of the Navy, and dig out some rich rascalities in that festering Department of corruption, as we learn from the following extract from the New York York Tribune of the 26th of January, 1864:

Mr. COVODE and his Republican Congressional Investigating Committee uttered a terrible wailing-almost equal to one of the oldtime Kansas shrieks-over the lamentable fact, that there were so many of their political-he softens the thing down to a. "fee"-and brethren fattening by means of steals and dishonest contracts, upon the griefs and miseries of their country. Even the President himself could write to Gen. FREMONT, when in command at St. Louis, begging him to give a Government contract to a hungry and clamorous expectant. CAMERON and STANTON could make supply contracts, and suffer the country to be swindled out of millions of the public treasure; the Secretary of the Navy could allow his brother-in-law a high per centage for the purchase of vessels for the use of the government, and thus enable him to pocket hundreds of thousands of dollars. CHASE had his JOY COOKE and other favorites, who are pocketing their hundreds of thousands, if not millions of dollars a year; and so it goes, throughout all the departments of the public service. Such is the general understanding everywhere, that government contracts are al

. "On motion of Mr. Hale, his resolution, asking for an investigation of the affairs of the Navy Department, was referred to a special committee of three, consisting of Senators Hale, Grimes and Buckalew, with power to send for persons and papers. Mr. Hale gave the statistics of the annual expenditures of the naval powers of Europe, excluding Italy and Denmark. They amounted last year to $139,000,000; so that we are now called upon to spend this year more than the combined world, with the exception of Italy and Denmark. The the Crimean war amounted to $350,000,000, naval expenses of England and France during [ for a period of three years and five months.

We are called upon to spend $40,000,000 more per annum than this.'

Whether HALE will really make a thorough investigation, and lay bare the schemes to plunder the treasury and impoverish the people, or whether some of the men having mammoth contracts, and already gorged with greenbacks as the result of past rich plunderings, will quiet him with "a fee," remains to be

seen.

Verily, we live in great times-great shoddy contracts-great pampered and rotten officials and great "fees" to propitiate the men of easy virtue who can, by nods and winks and favors, secure the ear of the corrupt dispensers of power and patronage under the present administration. Such wholesale, unblushing rascalities are unparalleled in the history of the world.

Reader, the chapter of frauds is before you, compressed into the closest possible dimensions. We are not responsible for the facts, neither have we originated the testimony-it is all from Republican sources-the crime and the proof are theirs. Read then, and determine whether the country is safe in such hands.

CHAPTER XXXIX.

[From Washington's Farewell Address.] "It is important that the habit of thinking in a free country should inspire caution in fine ourselves within their respective constituthose intrusted with its administration, to contional spheres, avoiding, in the exercise of the powers of one department, to encroach upon consolidate the powers of all the departments another. The spirit of encroachment tends to in one, and thus create, whatever the form of government, a real despotism.”

[From Jefferson's Works, by H. A. Washington, Vol. 7, pp. 223, 293.

strides with which the federal branch of our 'I see with the deepest affliction the rapid government is advancing toward usurpation of all the rights reserved to the states, and the consolidation in itself of all power, foreign which, if legitimate, leave no limits to their and domestic, and that, too, by constructions power."

[From Jackson's Farewell Address, March 3, 1837.]

"Each state has the unquestionable right to regulate its own internal concerns according to its own pleasure; and while it does not interfere with the rights of the people of other States, or the rights of the Union, every state must be the sole judge of the measures proper to secure the safety of its citizens and promote their happiness; and all efforts on the part of the people of the state to cast odium on their institutions, and all measures calculated to disturb their rights of property, or to put in jeopardy their peace and, internal tranquility, are in direct opposition to the spirit in which the Union was founded, and must endanger its safety. Motives of philanthropy may be as

WARNINGS AND ADVICE OF AMERICAN STATES- signed to their unwarrantable interference, and

MEN, &c.

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From Washington's Farewell Address...Jackson's Farewell Address...By Daniel Webster...By Henry Clay.. By Patrick Henry...From Webster's Great Oration... Further from Jackson's Farewell Addresses... Madison on the Liberty of the Press... Mr. Seward on Free Speech ...Jefferson on the Plea of Necessity...John Adams on Arbitrary Power... Ex-President Filmore on the Negro Question...Gov. Seymour's Patriotic Letter...Senator Harris of New York, on the Despotism of Conscriptions ...Rob't J. Walker on State Suicide...Sen. Trumbull on the Tyrant's Plea... Gen. McClellan on Constitution and Christian Civilization...Sen. Crittenden on the cause of our Troubles...President Harrison on the Rights of the States... Montesquieu and Jefferson on Preservation of Liberty...James Madison on same...Gen. Harrison at Ft. Meigs....J. Q. Adams on the "Link of Union"...The

weak men may persuade themselves for a moment that they are laboring in the cause of humanity, and asserting the rights of the human race; but every one, upon sober reflection, will see that nothing but mischief can come from these improper assaults upon the feelings and rights of others. Rest assured that the men found busy in the work of discord are not worthy of confidence, and deserve the strongest reprobation.”

[From Daniel Webster's Works, vol. 7, p. 134.] "Through all the history of the contest for liberty, executive power has been considered a lion which must be caged. So far from being the object of enlightened popular trust-so far from being considered the natural protector of SOLEMN WARNINGS AND ADVICE OF AMERI- popular right-it has been dreaded as the great

Father of the Constitution on Confiscation...List of Members and Delegates in Congress, &c.

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CAN STATESMEN, &C.

We are aware that the warnings of those great and illustrious men whose joint sacrifices secured to us the blessings of liberty, are now ignored by the pampered shoddyites; still, as there is yet a noble few who have not lost all regard for the teachings and wisdom of the past, we insert this last chapter, to stand as the "moral," or warning to that which preceeds it. Read, and reflect.

source of its danger."

[From the great Speech of Henry Clay against the insidious policy of Abolitionists.]

"Abolitionism! With Abolitionists the rights of property are nothing; the deficiency of the powers of the General Government is nothing; the acknowledged and incontestable powers of the states are nothing; a dissolution of the Union and the overthrow of a government in which are concentrated the hopes of the civilized world, are nothing; a single idea has taken possession of their minds, and onward

they pursue it, overlooking all barriers, reck- | proved their political system into a shape so less and regardless of all consequences.

[From the great Speech of Patrick Henry on the Constitution.]

"Is the relinquishment of the trial by jury and the liberty of the press necessary for your liberty? Will the abandonment of the most sacred rights tend to the security of your liberty? Liberty, the greatest of all earthly blessings! Give us that precious jewel, and you may take everything else.

[From the great Oration of Daniel Webster on free speech in 1814.]

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"Free speech is a home-bred right, a fireside privilege. It has ever been enjoyid in every house, cottage and cabin in the nation. It is not to be drawn into controversy. It is as undoubted as the right of breathing the air and walking on the earth. It is a right to be maintained in peace and in war. It is a right which cannot be invaded without destroying constitutional liberty. Hence this right should be guarded and protected by the freemen of this country with a jealous care unless they are prepared for chains and anarchy."

auspicious to their oppressors! Had sedition acts forbidden every publication that might bring the constituted agents of the Governthat might excite the hatred of the people ment into contempt, or "DISREPUTE,' or against the authors of unjust or pernicious measures been uniformly enforced against the press, might not the United States been languishing at this day under the infirmities of a sickly confederation-might they not possibly been miserable colonies, groaning under a foreign yoke.-Elliott's Debates, Vol. 4, p. 571.

MR. SEWARD ON FREE SPEECH.

On the 7th of August, 1856, Mr. SEWARD, in a speech in the U. S. Senate, used the following language :

"Where on earth is there a free government where the press is shackled and speech is strangled ?

"When the Republic of France was subverted by the First Consul, what else did he do but shackle the press and stifle speech?

"When the second Napoleon restored the Empire on the ruins of the Republic of France what else did he do than to shackle the press and strangle debate?

"When Santa Anna seized the Government of Mexico, and converted it into a dictatorship, what more had he to do than to shackle the press and stifle political debate?"

[From Jackson's Farewell Address, 1837.] "The legitimate authority of the government is abundantly sufficient for all the purposes for which it was created; and its powers being expressly enumerated there can be no justification for claiming anything beyond them. Every attempt to exercise power beyond these limits should be promptly and firmly opposed; for one evil example will lead to other measures still more mischievous; and if the principle of constructive powers, or supposed advantages, or temporary circumstances, be held to a strict accountability to their conshall ever be permitted to justify the assump-stitutional oath of office. The plea of necessity tion of power not given by the Constitution, is no excuse for a violation of them." the General Government will, before long, absorb all the powers of legislation, and you will have, in effect, but one consolidated government."

MR. MADISON ON THE LIBERTY OF THE
PRESS.

"The last remark will not be understood as claiming for the State Governments an immunity greater than they have heretofore enjoyed. Some degree of abuse is inseparable from a proper use of everything, and in no instance is this more true than that of the press. It has accordingly been decided by the practice of the states, that it is better to leave a few of its noxious branches to their luxuriant growth, than by pruning them away, to injure the vigor of those yielding the proper fruits, and can the wisdom of this policy be doubted by any one who reflects, that to the press alone, chequered as it is with abuses, the world is indebted for all the triumphs which have been gained by reason and humanity over error and oppression; who reflects that to the same benificent source the United States owe much of the lights which conduct them to the rank of a free and independent nation! and which have im

JEFFERSON ON THE PLEA OF .6 NECESSITY." "Those to whom power is delegated should

JOHN ADAMS ON ARBITRARY POWER.

"Nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers and destroyers press upon them so fast that there is no resisting afterwards. The nature of the encroachments is to grow every day more encroaching; like a cancer, it eats faster and faster every hour."

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EX-PRESIDENT FILMORE ON THE NEGRO QUES

TION.

"I am heart and soul with you in the object you have in view. Enough of treasure and blood have already been spent upon the negro question. I am fully persuaded that the unwise and untimely agitation of this subject gives strength to the rebellion, and will cost millions of treasure and thousands of lives; and that there is no hope for anything else, but to restore the Union as it was, and the Constitution as it is. That all efforts for anything else must end in abortion, anarchy and dissolution."-Letter to Connecticut meeting,

1862.

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