Liberty and Law: Or, Outlines of a New System for the Organization and ... - Britton Armstrong Hill - Google Книги

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FOREIGN EXCHANGES AND AN INTERNATIONAL CLEARING-HOUSE

Such an Absolute Money once established, it will soon become cur-

rent Abroad as well as at Home; An International Clearing-House

would facilitate its Exchange for other Moneys.

POSTAL SAVINGS-BANKS

The Establishment of Postal Savings-Banks would still further

facilitate the Circulation and Exchange of Absolute Money; Their

Success in Great Britain; Postal Orders already effecting the same

CONCLUDING REMARKS

Summary of Advantages to be derived from an Absolute National

Legal-Tender Money System.

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Gold and Silver must Fall in Price when no longer Legal Tender;

No Need of Redemption of Absolute Money in Coins, it being con-

vertible in all the Commodities, Products, Metals, and Revenues of

the Nation; John C. Calhoun; Thomas Jefferson; M. E. Davis;

R. H. Patterson; Practical Benefits of having a National Legal-

Tender Irredeemable in Specie, illustrated; Disastrous Results of

pretending to have a Specie Basis; It leads to Panics, and by Con-

traction of Bank Circulation and Deposits, aggravates their Disas-

trous Effects; Panics not caused by "Over-issues" or "Overtrade."

A SPECIE BASIS NECESSARILY A FALSEHOOD, A DELUSION, AND AN

Proved by Law's Scheme, by the French Assignats, the Bank of Eng-

land Notes, the American Continental Money, etc.; No Bank can

Pay its Obligations in Specie; R. H. Patterson; Charles Sears;

Stephen Colwell.

THE TRUE BASIS OF ABSOLUTE MONEY

Its Character as the only Medium for the Interchange of the Commod-

ities of a Nation, and as the only Legal-Tender; Its Convertibility

into all the Products of the Nation, including Gold and Silver;

It is the only Medium of Interchange adequate for our Growing

Business; It is also based on the Public Debt of the United States;

It affords more Security than any other Kind of Money; Hon. Geo.

Opdyke; Ex-Chancellor O. S. Halsted; Mr. R. H. Patterson's

Objections to such a National Money-System criticised and an-

PUBLIC HIGHWAYS.

THE NATURE OF HIGHWAYS

The State must have Access to every Citizen, in order to be able to

protect him and establish Communication between the Citizens;

Hence the Public Highways are State Institutions.

The Postal Service as one Mode of utilizing Public Highways;

Why the State should also utilize them for the Telegraph Service;

Danger of placing that Service in the Hands of Monopolies; All

European States have been compelled to assume Control of the

Telegraph; Beneficial Results in Cheapening Rates; Operation of

Telegraph. Monopolies in the United States; Extent of our Tele-

graph Lines; The Telegraphs of the World; Need of Govern-

mental Control of the Telegraph to direct a National Public

System; Our Military; Our Money Affairs and Exchanges; The

Outrage of Private Corporations controlling all Telegraphic News.

All Public Roads should be kept in good Order, under Governmental

Supervision; Road Inspectors; All Roads to be kept Clean and

Advantage of Canals; Their Cheapness, Healthfulness; Their Use-

fulness for Fish Culture.

RIVERS AND LAKES

Rivers and Lakes Natural Highways; Necessity of Rigid Inspection

of all Vessels by Government Officers; All Obstructions to Navi-

gation must be Removed, so far as Practicable; What has been

done in this Respect; Improvements on the Missouri and Missis-

sippi Rivers; Eads's Jetties; Government itself should make all

The Value of Railroads as furnishing Men with more Time; How

the Moneyed Powers and Monopolies utilized that Value by taking

Control of the Railway Systems of the Country; The Enormous.

Wealth and Despotic Power they derived from it; How the Roads

were built by means of Stock, Mortgages, and Money Grants

obtained from States, Counties, and Cities by more or less Fraud-

ulent Means; The Supreme Iniquity in granting to these Corpora-

tions enormous Grants of Public Lands belonging to the People of

the United States; The two Pacific Railroads in Illustration; The

Enormous Charges levied on Freight and Passage to raise Heavy

Dividends; Efforts of the Legislatures to reduce the Rates by

curtailing the Power of declaring Exorbitant Dividends; The

Railroads then begin to "water" their Stock and buy up Legisla-

tures; The Erie Railroad a Notorious Instance; The Erie, New

York Central, and Pennsylvania Central; Their System of "Pool-

ing; "Its Origin; Albert Fink the Inventor; The extravagant

Land Grants obtained from Congress by Corruption; The Northern

Pacific Land Grants; The Credit Mobilier System; The Enormous

Growth of the Railroad System constantly increasing the Danger

from it; Tables of Growth and Revenue; The Belgian and French

Policy of placing all Railroads under State Control; The Neces-

sity of adopting that Policy in our own Country; The Outrageous

Despotism of the California Central Pacific; Col. Broadhead;

Government should have Absolute Control of Railroads also for

War Contingencies; Why such Control is not likely to increase

Official Corruption; Report of the Commission of the German

Empire on the Necessity of the Control of Railways by the Govern-

ment; The Influence of Railroad Corporations on our Judiciary;

The Case of Murdoch & Clark v. Governor Woodson and Attor-

ney-General Ewing; The Constitutional Points involved; Deci-

sions and Opinions.

Taxes should be levied only to an Amount sufficient to pay the Gov-

ernment's Expenses; The Problem: How to levy impartially on

all Values alike; The Notion that Land should be the Basis of

Taxation a Legal Superstition of Feudalism; Moses' Mode of Tax-

ation; Taxation levied on Land as a Basis a Flagrant Injustice;

An Income-Tax alone bears equitably upon all; No Income to be

exempted; Injustice of exempting Government Bonds from Tax-

ation; Other Instances of the Injustice of the present System; The

Taxation of the Missouri Railroads in illustration; Table showing

the Inequality of Taxation in the United States; The New York

Assessors on the Subject; The New York Tribune on an Income-

Tax; An Income-Tax should be graduated so as to check ex-

travagantly large Incomes; Danger threatening from Excessive.

Accumulation of Wealth in few Hands in Republican Communi-

ties; The first Roman Triumvirate an Instance; The Case of Wil-

liam H. Vanderbilt; Professor Bluntchly on the Subject; The

Power of Individuals to convey, by Gift or Devise, their Property,

must be curtailed.

271-281

THE TRUE RULES OF TAXATION

Adam Smith's Maxims of Taxation.

THE LIMITS OF TAXATION

Government should Tax only to the Amount of its Expenses; No

Taxation should be levied for other Purposes such as Interest;

All States and Cities henceforth to issue no more Bonds; The Enor-

mous Expense of Borrowing on Interest; The Propriety of a Fire-

Tax considered; How the System of Government Controlling the

Fire-Insurance Business operates in Germany; Comparison in

that Respect between Berlin and St. Louis; How Government

might also administer the Life-Insurance Business; Isidor Bush

on the Benevolent or Coöperative Life-Insuring Societies; The

Iniquity of the present Patent-Right System; How it might be

reformed; Table of its Steady Growth.

The Tariff another Indirect Mode of Taxation; Unjust as a Means

of Protection to Manufactures; Inefficient as a Means of Raising

Revenue; England and France show the Wisdom of establishing

Free Trade; Still more strikingly our own States, in their Free

Interstate Commercial Relations; The Fear of Direct Taxation

must be eradicated; The Inequitable Phase of the Tariff illus-

trated; How it cripples our Trade; Our Trade with Canada as an

Illustration; Inequality of the Operation of the Tariff as between

the Eastern and Western States: The Tariff a Relic of Feudalism;

It should be altogether done away with.

CONCLUDING REMARKS

An Income-Tax the only Equitable Tax; Taxation annihilates itself

when made Oppressive; Hence no more Interest-bearing Debts.

INTERCOMMUNICATION BY THE PRESS.

Origin of the Newspaper; Its Primitive Nature; A mere Publication

THE DEMORALIZATION OF THE PRESS

The Newspaper becomes an Organ of Parties; The Scurrilous Per-

sonal Editorial replaces the Dignified Political Treatise; Private

Life is made scandalously public; The Newspaper becomes an

Impersonality; An Organ of Abusive Slander; How a Number of

Newspapers became "The Press."

A DAILY NATIONAL NEWSPAPER

The Necessity of establishing a Daily National Newspaper; Its

Functions; The Publication of News and of all Official Informa-

tion in the Hands of the Government; How it would make the

Publication of an Annual Official Census possible; The Inadequacy

of a Ten-year Census; The Effect of such a Publication on neces-

sitating Correct Reports from the various Governmental Depart-

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