The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-04


great wrong pointed oai the Cost q reputation %
our state and nation; reminded them that ~ could
not disgrace tho chef the eonmseal tate q ms
b.lnging shame upon our land The appeal was made
IA vain Every democratic Senator vo,ed In favor o;
keeping the faith OF The state, while each republican
placed himself upon the record in favor Of Reputation
This one base act has cost state teno Ia coin the
price Of honest payment debts II has thrown
upon us shame which no words can tell Another
for the low and at this time waning credit or the
governments Is that the business men OF the world soc
that the statements forth by the Treasury are used
to missad the people do not charge thar they arc
untrue; they give the amount OF bond and currency
OF the department. but they used 70 make
the false impression upon tho minds Of the
sow bs ana that ns uuSc are gaming
In real strength and value Perhaps n Is not the aut
OF the Secretary that they do not set forth other iacs
which oil With alarm every thoughtful man We are ~
truth making In this country another form OF indebted
ness which does not appear upon his books but when
When governments by s policy fastens upon people
new and lasting expenses makes obligations which arc
naai interest Spon s bon1s When our
entered upon the plan Of governing the South by mill
tary pcwer, when It resolved 20 rupture the whole
political structure 10 onethrd OF the Union, BY dis
franchsing the intelligent white man. and CIV
ing to the ignorant negro political control, y
two hundred millions every year. The man does not
live who VIII see the day when this military power and
now directs our public sfsir. Our public expenses,
apart from interest the debt, have gone up from
$5s 900 900 in 1850 to about $s50oo 900 in 1885, II
we add the interest the debt 1t oots up 1922 600 000
Our rulers making beyond the cost Of tho last demo-
cratic administration and beyond the interest on any
debt extra charges upon tho Treasury OF tl27
or what would be the interest OF Ave per cent on
81 500 600 900, taxing the people as heavily as the
debt. But this ia not all; these new charges
counted among the expenses Of government
they. are prior liens, md must DO first raid
Il the pledges Of tho party IN power had been
margin between the claims OF the bondhoder and tho
sum paid by revenues into the national treasury But
officials and vast and corrupting expenditure wedging
in between the public treasury and the public creditor
The latter 10 constantly pushed back In the order OF
payment He nnds his demand rapidly sinking
towards the bottom Of lengtncnng list OF claims.
YET the SoaShodss arc caea upon By the sepuecan
pockets tho money which should go TO the public
creditor. This IS another peril to the holders OF
sccuritIcs the ojrm OF taxation is thrown
upon them. The people are taught that the
all goes the holder OF bonds, yet in truth while
$13 900 900 paid for interest In 1885, $lS5 900 600
was given uphod armies and military power to on
Gals, 10 FTeeimen's Bureau 10 iced and ciohe the
negro and other expenses growing out OF tho policy OF
crushing cut The southern States. Men of the North,
yon will soon ind that he letters forged for the hands
OF the south are lsht indeed compared with he Jokes
which are phced upon necks The annual Increase
OF the cost OF our government bey ond is exp in
1900 = equai ~ me interest at SIX per cent upon
a debt OF -, 100 00o00 II is dse to the Sccre-
tary o. inc treasury 70 gay thaL any warning
he has gwen AGAINST waste and corruption has
been unheeded by Congress. Arc We then les
senlng our national oblgzt0ns2 Again. while the
republican Journals use the reports OF tho Secrc-
tary OF the Treasury 70 encourage their followers
with hope OF re,e they do not point to then the
startling fact. that II the volume OF bonded debt
dimn shed, inc interest 20 b. paid upon that debt is
growing greater Tho policy OF rulers is to turn
paving obi cations into tax exacting form
that the Treasury reports that the de-
manded 10 pay the national interest growing greater
EACH day II mas be asked 4 we can cure the evils
under which our country aborsf IL ft oil tho
heavy burden of taxation which crashes industry
II We can build M tho credit Of our nation? Wipe OF
the disgrace which soils credit, AID remove the
danger which threatens the safety Of the repuOie9
II did not believe that wc could do al this
word not stand here 10 Epeacn the wisdom OF those
IN power. do not call in question the motives OF The
mass o. the republican party, hut aver, and ,me has
proved ths, NJ organization cannot disc barge the horde
Of officers which eats the substance o. country
And viii show why, without clailins for ourselves
superior virtue pasrintsn the ins,nts and poicy
Of the republican party leaf TO bankruptcy aud lat
bad the surface vi pubc alaiis, and corrupt
officials ia tho discharge OF their duties; and why,
uron the other band policy although ranks arc
ied, a tnars ers, by good and bad men, leads op
posiie results Those WHO row hold ,he power bays
rot Only la,gci up 10 the .ins Of reond atom bnt
taev have dune the pubic creditor wrong in
respects they have turned away the publc mud
from all scrniay Into financial condition. they have
got triet ~ give vauo 10 the public credit they have 10
that boasifnl spieit which made the hate civil
wastefni o blood and treasure, bY undertaking tue
licuites and dangers 81 the pubc position, ri 10
deaden the public sense Win ieaard 10 impending
danger. I could put The value of bonds upon
level with those % Great Britain could adj
thsn Two thousand mops 10 toe vaue oi tne securities
held BY citizens. This Simple would give
amount Of wealth the holder security the
laborng nie9 and women who nave put their earnings
into savings banks which secured by these
stocks and would place the pager money of
the country upon basis above d.sir1st TINS
act ike wand won,d caange ~.
aspect OF aars, and wgud give vast wealth and
Resources Yet not cost the taxpayer Que cont
IL wDuic, ia tact, lessen BIS burdao 4nc measurts
which would 10 tlus would it lroan labor Of to
country the burdens Mhlca nov crush down 50 many
Industrial pursuits. the policy winch must give char
actcr 20 our bonds must, IA The nature o things, give
rerEetny 'Oopr country AMI proats 60 labor. These
must f.sn aud ill together. ! do no. own govern
msnt bond have dcp,ored ihc waste and corruption
wHi91 pied ~ ths national debt. | nave protested
against no criminal !ciy ~hicA exempted tbcm from
TAXATION bot tlesa "arn acts o. Tue American
people, Through their iawiu representatives., aud bays
eectpns ah1 tbcY should pay the penalty.
! would keep The paotc ,atl. Wbl,e we condemn the
errors Of tho tsst i"t as "h zea seek 10 maze The
lntne prosperous by patient. Patriotic EFFORTS - BRING
bach aEla our a1verGmeut 70 H. 0rtuer wisdom hon
esly and simplify Why houd DOT our credt be made
good as iLat OF i3rltain's3 We less;
a greater Why crealt beter thau that of
The furK, whose wealth and power does no, compare
with oursS simply because these Powers are seeking
u uphoo tho integrity OF heIr domain, the peace ADD
well being OF Their people ana TO keep down the cost vi
,neir government IN no other gos eminent 20 no
world than ours are military officers welding de-
Ioac powers tod that they Will bo deposet
~hcn peate ani order exist within their
domains. In no other country than ours ARC
sgens like those Of tie frcedmen's Bureau, bbed b.
tie love oi po@er and ~ ia. love Of Fan keep
dsoord aud insgdc sectional haze II the expense OF
our government had been put down nj an expense t~co
great AS that spent by Tue iasi democratic admlDira
ticn, and TIE balance Of our income had used
iey the public debt. wound have been Worth
much those " Britain, nearly twice Their pros
ent value. Ii Is not The bondhoder; 1t Is the office
holder Who most taxes people and ngs from labor
tae fruits Of us toll These the that
the blood Of the people IL u not the task master. but
tue government agents aud officials who force the me-
cbablc 10 Icing hened hour. OF tor, Tor 10
must support these as wel a. his family before
TO take rest for his wearied limbs II the
money colecsed by government after letting the rcpub
licans spend twice a. much usci by q
dem crate administration, was paid to lessen our Debt
not only would give wealth 10 the b0ndholder and
relief 10 the taxpayer but We should lessen the Of
all that country buys. IL would 20 INTO market
with a better credit No could then command tho
specie u the world; we could gain IL IN exchange for
securities the governments OF Europe do Nov
they podded out all Europe ut haif.pnco
IN exchange Tor dry goods and groceries. 1hey
taken cautiously and slowly although tho European
buyer gets interest OF about eight per IN com,
while tho rate OF interest paid for money
London to-day is barely two per cent Does not
every man and know that this mons,rous