The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-01
SENATOR FESSENDEN At HONE.
His Reception ut Observation-Disclosures We'll
come by the Peoplc-His Views on the Pay
ment Of the Bonds as an Ex-Secretary Of
the Treasury.

His Reception Mt Observation-Disclosures We'll
come by the People-liis Views the Pay
ment of the Bonds Ex-Secretary Of
the Treasury.
PORTLAND Me-, August 81, 1868.
very large meeting assembled tonight TO wei
come Senator Fessenden on his first appearance
since his return. General Shep!ey was President OF
the meeting.
Senator Fessenden was enthusiastically received
lie acknowledged the greeting. lie had been re-
luctant to accept the invitation TO speak, fear
ing his voice might have lost its infu
ence, but their hearty welcome had re-
convinced him. He contrasted the present time
with forty years ago when lie first addressed them
here and spoke of the long term OF his service. He
had endeavored to do his duty (Appause.)
If sometimes he had differed with his friends or con-
stiuents il must be attributed to the native obsti-
macy of his Character lie having formed an opinion
was apt to stick to ii, always finding that the good
sense and magnanmity of the people will always
uphold man who does his duty to the best OF his
convictions. Nppause.) He alluded to the
difficulties under which the republican party
first assumed the reins OF government and
defended its course. lie wished to speak respect
fully of the democratic. party. They had spoken
very respectfully of him of late, for which he was
very much obliged. But, speaking OF changes, there
was point in which he had never changed at all,
and that was his opposition to the democratic party.
lApplanseA He alluded To the heroic calmness with
which the democrats bore our defeats during the
war; but slavery was abolished, and. looking to
coming generations, he loresaw glorious result,
when We would be homogeneous people,
and labor should be respected az the foundation
upon which our government rests lie discussed
the national debt. and said the gentlemen who
plain OF Ii acted with those who compelled its
traction IL must be paid in the letter and spirit Of
the contract. lie gave the history OF the loan bills,
saying emphacally no one dreamed Of the payment
Of the principal In anything but gold. He would
say what had never before been mentioned In
public. When ne went into the Treasury Depart
ment the day before he took it, u thirty million loan
cause IL could not ne iOaed. He found a hundred
millions OF acquisitions due and q hundred million
more coming in within two or three months, with
only forty or fifty millions to meet it, He was forced
cause, had he not done so, 1t would be considered
confession OF want OF confidence In the ability OF the
government to go He was In the tightest
place he was ever in, except when obliged to vote
and issued seven-thires redeemable In paper, with
the privilege OF taking the bonds, aud through his
agents he promised the people that the principal
should be paid In gold. The credit of great nation
must be preserved at all costs. Where should we
borrow money II the democratic party succeeds
| and the prophecies OF Blair OF another war come
| true, II we repudiate our promises. We can carry
debt more easily than England, for resource.
| are greater. The only way of disposing OF our deb
Is to pay IL. The only etatesmanlike solution OF thu
| problem Is labor and frugality He glOried In tht
platform OF the convention which nominated Grant
| when they said the debt must be paid in tho
spirit and letter., and forgave them theiI
endorsement Of the thirty-1ve Senators who
| voted for conviction, and considered that they
his did not. (Applause He could not too often say
preserve the national honor. II any one advises
you 70 repudiate your promises repudate him, whe-
ther he lives In Ohio or Massachusetts. lie spoke at
able man. OF stern integrity and the meeting broke
up with hearty cheers for Fessenden.