These evils have been intensified by vicious legislation and bad government. Federal legislation has been much in the interest of stock-jobbers, speculators, monopolists, so that "corners" have been fostered, and labor has paid heavy and depressing tribute to fatten greedy cormorants. The present system of banking violates the established principles of currency, and is in utter contradiction to what, for a decade, by consent of all parties and financiers, was the policy of the Government. Bad as the system is inherently by injurious legislation, its benefits are secured to a favored class, and by combination with other corporations, notably railroad companies, the business of the country is largely in the control of a few monopolists, who rule and grow rich in spite of the laws of political economy. Promissory notes, printed with pictures on fine paper, have been substituted for the money of the Constitution, and our young people are growing up with the notion that this rag currency is a legitimate measure of value and a legal solvent of debts. So marked has been this class legislation in the interest of capital, that a Senator of the United States, Mr. Wallace of Pennsylvania, says, "From the beginning of the present Administration down to the adjournment of Congress in August, 1876, every financial statute has had but one purpose, and that purpose to increase the value of the bonded indebtedness of the Government." Statistics show how insecure is business, on what vicious principles it is transacted, and how rapidly property is concentrating in the hands of a few. In 1874 there were 5,830 failures for a total of $155,000,000, and in 1875 the failures increased to 7,740, aggregating a loss of $201,000,000. In both North and South there has been a frightful increase of indebtedness by towns and cities, counties and States--thirty-eight States owe an aggregate of $382,000,000--so that taxpayers groan in purse and spirit, and are deeply concerned to find a way of honest payment. Taxation has been and is a potent instrument of wrong and corruption. To pay the national debt increased taxation was, of course, necessary and proper, but taxation should have been adjusted to the rights of honest creditors and the lessened pecuniary ability of taxpayers. The Federal and local taxes of the last eleven years, according to high authority, amount to not less than $7,500,000,000. Never in modern times was revenue collected in such a complicated and ruinous manner. Mr. Curtis tells us one-fourth of the revenue is lost in the collection. If the collection and expenditure of revenue be the tests for determining the wisdom of a government, then ours is not "the best the world ever saw."