The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-08-07

wagess plenty of work, and greenbacks. Zap.
We want one currency without interest. Now
who can tell what is our debt how calculated
ment9 Like the Gobelin tapestry of Paris
like the Mosaic work of Rome-the mixing Of
debt Is so confused, so entangled. SO obscure,
that, unlike these analogies, IL has only been
sent.)
There can be no financial security or COM
mercial intercourse without proper reconstruc-
tion, and that day is not close at hand.
:. England is owned by thirty thousand fami-
lies. The national debt did it. Now, we
must be taxed 0O0O,0 10000 to pay of our ma
tional debt, why not throw it all into the pool
SnS shGw oSHS S ~ ng 4 % o at
is to make the rich richer and the poor poorer.
Our bOndholders will be princes. The money
lenders will be divided into nabobs and nobobs.
As the debt was made SO let it be paid-au
Europe paid 5000 900 for 5000 600 900 of bonds
What shave! The Alabama destroyed about
that amount of American shipping. Why not
balance the books ana pay them Off in green
backs without interest2 (Applause) Everybody
will vote, except few bondholders for placing
tional Bank bonds. S20000,0 900 saved is S20000,000
gained. (Applause)
Insolvency is general When saw the gold
brokers buying and selling s7O,OOO0O0 day,
asked what is It foI2 What do they do with it7
found only two outlets-one TO pay interest ON
5.2Os, the other for export, both amounts only
$50 900 o day, or S4O0,000 week. then came to
the conclusion that somebody was behind this
importers, and the English manufacturers were
all combined to hold up war prices in time OF
peace. Hence they sold gold short In order to
hedge against high priced imports. (Applsuse)
II gold goes up they save loss by rise in goods.
If gold goes down they make on gold what they
balls in the air is fatiguing Did you ever see
the Ravels roll that big ball up an inclined
plane? He stopped to take breath and the
wheel went over him, crushing him as fiat as a
pancake. (Daughter.) So with insolVent mer-
Shants holding up goods & or ihs3IvenI d u Danks
rolling that big wheel up HILL until McCulloch
came to their assistance and backed down from
plause) Public credit can only be based on
industrial prosperity. A war, a pestience, a
famine, always places taxpayers and bond
holders face to face. Universal suffrage is our
great hobby An American Astor has but one
vote. An American sweep is equally rich.
circle. Should the Democrats get into power
with their pestilential doctrine Of free trade,
and McCulloch favors that policy, overheard go
all our industrial enterprises. (Applause)
The New England radical manufacturers, in
order to destroy our Western enterprises, are
now joining the Democrats to break down the
tariff But give us greenbacks without interest,
and we beat them all. lAppause)
Times calling him the American Neckar of
Finance: How can he get another? Simply by
specie payment. Now we have to export
S6OOO0,OOO year in hard gold to pay the inte-
We were one hundred years in accummula-
ting what Commodore SJebbins calls the paou-
lum OF capital.
Say in Railways 81 ,OOO 900, 600
Factories, Canals, Foundries, Tele-
graphs, and other industrial works. ,000 600, ,00C
City, County, State, and other secu- 49,
l'oUoOOo,OOU
$1,000, 600, ,OOC
Then came a new customer-the war, and
this So, 600 100000 was absorbed as with sponge
by the Government. $3,00O,OUO a day our Trea.
sury checked for, so that in five eyears we wiped
out the labors of a century.
McCulloch's whole policy was his Fort Wayne
speech. Specie payments next July, 1863 He
would make England and Germany, and break
America. That has been our financial policy
That would make our national debt blessing
to Europe, and an everlasting curse to America
| (Hisses)
Why will you persist in forgetting that am
| acting the part OF a demagogue at your request
| so that you can always be on your guard ?
| daughter and applause)
In Conclusion Mr.. Train stated that the great
| political questions of the future were women
| voting, labor better paid, and greenbacks. ZAP
| plause.) That none of the candidates for the
| Presidency now before the people can be elected
| unless endorsed by that most powerful of al
secret associations, 1.-THE Council of the Eagles
| (AODlaugel