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

George Francis Train Wants 1t Paid
OF In a Certain Way-GreenbacIEs Ad-
vOcated-The Debts of Other Countries
COntrasted with Ours Effect of Repu-
diatiOn-Mr. McCulIOch's Schemes Re-
viewed, Etc.
Mr.. George Francis Train lectured on last
Saturday at Clifton Springs, before a select au-
dience of the visitors at that watering place, on
the subject of "Our National Debt" MIR.
Trains remarks were peculiar, as usual, and we
regret that we can only make room for the fol-
lowing brief synopsis.
Mr. Train said:-
England was 167 years in rolling up her
g. 000, 600 900 of debt; America accomplishes the
same result in four years. When they accused
America in London debating halls of rolling
up an Immense National debt, replied "yes."
| But what right has England to monopolize all
| the National debt OF the world? QIaughter1
| we VIII have National debt, told them, one
yourselves. loud laughter).
No National debt was ever paid why should
ours be? 1t costs us hve times as much to-day
| for a peace armament as formerly it did for
| war. Our National disease is politician on the
State, blood-sucker in the Treasury and Office on
National tax. II never was, it never will be
paid; (Hisses.) You seem to forget that am
making, at your request, the speech of dema-
gogue, or in other language, putting up a man
of straw for the loyal men TO knock down.
| (Laughter.) You forget that am again repudia-
tion, as Lowell would say, am for greenbacks
| twenty-five hundred millions of greenbacks
/
of maturity instead OF nineteen different dates,
vide McCulloch, and one kind of interest, that
Tstes as et nressnt
| whole policy is in the interest Of Europe, of
England, OF the bond holders. He has tried to
| break Wall street a dozen times, and nearly
broke himself Three months more and the
crash would have wiped out the debt.
| Like ballast in the ship, you must keep the
National debt steady to avoid shipwreck. A
pilot can run thousand passengers into eter-
steer our inanclsi craft ' into the S breakers %
McCulloch believes In the lancet, the specu-
ium, and blue. pill kind OF finance He bleeds
billy; He vaccinates to head of disease.
What a wretched state we must be in to have
the whole question of our financial future de-
pend upon two things-the state of McCulloch's
plSuse5 65Ge oST people S1 lad" had 1 eFrelance
Now the conversation Is on the Secretary of
price. S e"y He is 9 ss Down 60 Stocks
He is negotiating loan abroad; he wants
one hunared mililSns az nome mil ne toida% Tear IN
Wall street. One day says Jay Cooke Is his
partner, that Lanier does his fore foreign ain 6nsl,
his gold, Another, he is choking out deposits
or is locking up grsenbacks This is Is, Mall S,oh
power-l600 National Banks, and when they
fail Mr.. Spinner says he VIII cash the pllls'
We could watch: old Biddle and one National
Bank; but 1000 is too much Tor u.s. (Iaughter,)
ing that IL was lair to presume that most of our
{ National Banks were rotten (oh y, and were
only organized for Presidential purposes. why,
as the Herald says, should we be taxed twenty
millions year for this purpose? (Applause.
Down, them with the National Banks, and give
us greenbacks Every body will vote for green
backs; Every man who owns O farm--a houss
"a snIp-Wanls higher prices. Twothlrds OF az
our property Is mortg aged. Let lift 10 of Wltt
. greenpaeks; Buy property, and mortgage 4
| up 20 your throat linen buy more, and repeal
| again, ana the Rreenback mania will removt
3 the mortgage and make You rich again. ZAP
! Remem ber that industry, commerce. agricul
lure, manuIactures create property, and thes'
can Only come with greenbacks Remembe
4 | that ships on the stocks produce no ship
J, builders NO factories going up require n'
d ,aboTers. What we In the pit ask fof is high