The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1867-10-18
nd time has proved that its Organization,


cannot discharge the holds of officers which
cat up the substance of our country. And
| will show why, without claiming for our
selves superior virtue or patriotism. the in
stincts and policy of the Republican party
lead Us to bankruptcy. and float bad men
to the surface of public affairs. and cor
rupt officials In the discharge of their du-
ties. And why, upon the other hand, our
policy, although our ranks are fillel as
theirs are by good and bad men, leads to
opposite results.
Those W no now hold the power have not
only hewed up the line of reputation, but
they have done the public creditor wrong
IN other respects they have turned away
the public mind from all scrutiny into our
financial condition; they have not tried to
give value to the public credit; they have,
in that boastful spirit which made the late
civil war so wasteful of blood and treasure,
by understanding the difficulties and dangers
OF the public position, tried to deaden the
public sense with regard to impending dan
ger.
If We coull pat tn, value Of our bonds
upon level with those of Great Britain
We could add more than two thousand mil.
hons to the value of the securities held by
our citizens. This simple act would give a
vast amount of wealth to the holder, great
err security to the lahoring men and women
VINO nave put their earnings into savings
banks which are secured by these stocks,
and would place the paper money of the
country upon basis above distrust. This
one act, like magic wand, would change
the aspect OF our affairs and would give Us
vast wealth and resources. Yet it would
not cost the tax payers one cent 1t would,
in fact, lessen his burden. The measures
WHICH would do this would lift off from the
labor OF the country the burdens which now
crush down so many industrial pursuits. =
The policy which must give character to
our bonds must, in the nature of things.
! give perpetulty to our country and profits
to labor. These must rise ana fall togeth
err. DO not own a Government bond;
have depiored the waste aud corruption
which piled up the National debt: [ have
/ protested against the criminal folly which
exempted them from taxation. but these
We're acts Of the American people. through
their iaWfnl representatives. and have been
sanctioned by them in their subsequent
elections, and they should pay the nena!ty
would keep the public faith While we
condemn the errors of the past, let Us, with
yea seek to make the future prosperous hy
patient, patriot;c efforts to briag back again
our Government to its former wisdom, hon
esty and Simplicity
ny should not our credit be made as
good as that of Britain'S? We owe less.
our means are greater Why j. not our
credit better than that Of the Turk whose
wealth and power does not conpare with
ourSf Simply because these powers are
seeking to uphold the integrity of their do
moi hn |,
people and to keep down the cost Of their
Government. In no other Government in
the world than ours are military officers
welding despotc powers told that they
Will be deposed when peace aud order ex-
lists within their domains. In no other
country than ours are agents, like those OF
the freedmen 5 bureau. bribed by the love
OF power and by the love of gain to keep
! mp dlScord and instigate sectional hate. II
the expense Of our Government had been
! put down at an expense twice as great as
that spent by the last Democratic admins
| trauon, and the balance of our income had
been used to pay the public debt, our bonds
| would have been worth as much as those of
Britain, or nearly twice their present value
! 1t is not the bond holder; it is the off :e-
| holder who most taxes our people and
! Wrings from labor the fruits Of It's tot. -
! heae are the vampires who suck the blood
! OF the people. 1t Is not the task master,
/ but the Government agents and officials who
! forces the mechanic to heightened hours of
/ toll, lor he must support these as we'll as
his fanny before he can take rest for his
wearied limbs.
II the money collected By Government
alter letting the Republicans spend twice as
much as was ever used by Democratic
administration, was paid TO lessen our debt,
not only would We give wealth to the bond
holder and rehet to the tax payer, but W.
should lessen the cost of all that our coun-
try buys 1t would go into market with a
better credit. We could then command the
specie OF the world, we could gain it In ex-
change for our securities as the governments
OF Europe 10. Now they are peddIed out
all over Europe at half price in exchage for
dry goods and groceries. They are taken
cautiously and slowly, although the Euro
pean buyer gets an interest of about eight
per cent. IN coin, while the rare Of interest
paid tor money in London to-day is barely
two per cent. Does not every man see and
know that this monstr0us disgrace would not
stain the honor OF oar country if there was
wise, honest, and patriotic administration
OF Its affairs? Do not the reports of the
Secretary of the Treasury show that we
could swiftly wipe out our debt if our in
come was not perverted to pArtizan pur-
poses? Do not the columns Of the press
TEEN with statements, Of official plumber
and frauds in every quarter of our land,
while public virtue rots under this wastetul
expenditure Of the public fund 1t is said
il Is repudlation to force OUT legal tender
upon the bond holders. What makes it so?
The lo9g credit of the country Build that
up make your paper as good as gold, and
this question cannot come up. Then the
bond holder will not care which you give
him. This controversy grows out Of the
fact that men Go not believe our legal ten
ders are, or ever will be, as good as gold
II it is reputation to pay such money it
was repul alton to make it, and it is repu-
aiation to keep it debasad by waste and by
partizan PLANK to keep our country is diSor-
der aud danger
Let we say few words to bond holders
1t Is hard thing for tax payers to pay the
National debt. 1t is a hard thing to pay in
terest ranging from eight 10 fifteen per cent
according to the prices you gave for these