Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1868-08-06
y nom Irom. nm. NJ. RoesI.

hn4 cxcudcd the following eloquent
and ratriotio letter of Hon. VIM. Is.
Read fo the recent Democratic meet.
ing In Baltimore
ppiLAprrrHrA, July 20, 1865.
Gentlemen 81 know nothing that
would tive me more pleasure than to
accent your invitation and address my
fellov<itizens of Maryland on the is
sues of the day but the state Of my
health nd of my family iorbids, and
Ibave only the privilege of speaking
70 you n this way.
{0n are, in the strictest sense, fell
low citizens of us OF Pennsylvania, for
no foroign, coercive power now domi-
mates II Maryland. No intrusive
military or semi-military authority is
knownwithiu your limits. You gov
ern yourself and regulate your cleo
tive franchise as we do. You say, as
We do, that the negro shall not mix
on terms of equality with white chill
dren in The public schools. You, as
we do. Recognize the true Federal
principle of the sovereignty of the
State, except when its attributes have
been expressly surrendered. In all
these reepects, and many more, you
are foI|ow-citizens with US of Penn
sylvAnia
II WAS not always so. You have
had trials and trinmphs unknown to
"A. II have had social terrorism
and proscrption, with all their mi
mute vexntions; but in the darkest
period Of the war, Federal power
never venfured to touch our organic
institutions. No such outrage was
attempted as was perpetrated on you,
in the arrest of its Legislature and
the incarceration of its members,
men OF the purest public and private
character, for fourteen weary months
in q Federal prison. OF this, too soon
forgotten. should have been tempt
cd to speak had | come among you,
for | do not recognize the morality
or the expedlency of that easy condo
nation OF political offences, which is
now the fashion. The men who au-
thorized md executed this outrage
on the State of Maryland, some still
high ia office, are exactly what they
were when the little bells were ring
ing and the missives of despotism
were flying through the air. A Dem
ocratic House of Representatives will,
/ imagine, recognize no statutes of
Limitation, or oblivion, or indemnity
for this
But what of the future 1t is full
of promise and it is full of perilous
perplexity. Of assured promise, in
my judgment, as to mere political re.
suits, bat of perilous perplexity,
whether The victory be won or lost
hear around me, and read grave
and heated discussions about financial
problems, about bonds and green
backs, and as to how the public debt
should be paid, in gold or in that
mythical bling miscalled "lawful cur
rencyp Now it seems tome, unvers-
ed as ! am in such miseries, that it is
the existence of this "currency" which
causes all the danger, and to its crea-
tion may be traced the possible wrong
which tbreatens the public creditor.
What security is there that the Gov
ernment and theparty which commit
ted the original fraud of saying that
irredecmable paper was coined money,
and must be taken in payment of
private debts, should hesitate in say
ing that the same paper must be TAX
en- in payment of public debts? This
Is exactly what the leaders of the Re
publican party in Congress do say.
No country, that | ever knew, took
the first step without being ready to
take the second. The Democratic
party il not responsible for the pri.
mary wrong 1t will be less likely to
commit the other The Republican
party and the mad majority for
time sustained it, mixed this hideous
legal tender, lawful money draught.
1t comes back with intensified venom
to thoir own lips.
Need any one wonder that the But
ler-Stevens doctrine of paying the
funded debt in greenbacks Is popular
with the masses Let us see how
practically and in homely way it
works. A man of limited means de-
posits, In April, 1861, in savings in
stitution, 81 900 in gold-all his hard
earnings In April, 1868, he draws
1t out and is compelled to take, prin-
cipaI and Interest, sl0S0 in paper,
worth at that time exactly $40.
The poor depositor loses exactly siG0,
q pretty severe tax for patriotism
and coniidence But who profits by
the opcrarion The corporation keeps
the gold for the same two years and
then sells ID for $4,000 in paper, with
which i buys a Government bond at
par, gcte gold interest as long as it is
held, and Then is paid the principal
in gold, worth at present rates and
likely 70 be worth $500, making a
net profit Of over 81, ZOO. This profit
the institution never dreams of paying
back to the depositor 1t don't even
make dividends. 1t goes into brick
and mortar and granite, and fine din
ners Need any one, ] repeat, won
der that she poor man is not content?
The case Of the banking institutions
which have stockholders is not quite
40 strong. but the depositor gets poor
comfort nom large dividends paid to
Others out of the sale of the gold he,
in bis simplicity, putin for safe "keop
ing"
No one can measure the contagion
which The financial iniquity of 1861
has spread. 1t has depraved individ-
nails Il has corrupted commonwcalths,
Tho &fnIn of Now York nromiaed IN