The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1868-08-26

av high plices, and while sustaining p
uge armies in the field on one side, a
,e were forced to sustain huge mo-
opoIy on the other. And it is diff v
ult to tell with accuracy which was L
he more expensive of the two.
This system of class legislation has I
ontinued until il has absoI bed all the '
noneyed capital of the country, and
IntiI it Is combined into one great
1odv and forms the soul of the Re
publican party. Each moneyed inter
est, thus legisiated for, plays into the
nand of the other moneyed interest,
until all combined makes one power
full organization. You can not. for
instance, attack the manufacturer
without bringing upon yourself the
and the Banker, nor aS-
sail the bondholder without expert
encing a defense from the manutac-
turer. Indeed, I believe now they |
NAV be estimated 2s one body, for as |
the manufacturer realized his profits |
he invested his bonds, that escaping
taxation formed a tempting invest
ment, while the banking system, the
most oppressive of all the impositions,
Is based upon the public securities.
NATIONAL BANKS.
Inseperable instruction. The ope-
rators from one class of bondholders,
from which they gather the gold in
terest, and on which they issue their
own Indebtedness and draw Interest
on that. Thus, with ten per cent. as
the interest exacted on both, they
draw from their actual capital the neat
sum of twenty per cent, and in return
they get their actual capital back, and
in five years double the amount
| Now, when we remember that this
capital was purchased of the Govern
ment in deprecated paper, so that It's
actual cost would not be more than
fifty cents on the dollar In gold, We
see what a precious system we have
built up to our own ruin. The legi5
Iation defeated by Mr.. Johnson, bu
which received the sanction OF TIT
party in Congress called sherman
Funding Bill" passed US, bound necl
and heels, into the power of the bank
er, for it made the face of the bond
, purchased, as told you, gold.
t Now, to bring this matter home
| YOU go to the nearest National banl
for the accommodation of loan, an
e they were created for your acconlpqqf
= dation, and you are charged, will sa
It one per cent, a month, and you TAX
# home your accommodation, and 20
It find the SO called money to be yor
s. own notes, issued by the Governmer
Is that taxes you to pay this banker fC
n his kindness to use your credit. 6aa
wonder that while we get poorer the
n rich and own islands al
} men 81. ~,
build palaces.
been cooked enough tn.-
, Is the duty of the Democratic -.
to call in the circulation of the Ma
tional Banks and put an end to thei
eXtortion.
PAYMENT OF BONDS.
We have lost more through thi
monstroussystem of banking, through
bounties paid manufacturers, through
deprecated paper, than We hav,
from gold-bearing bonds, about which
SO much excitement prevails.
Now, am in favor of meeting oul
obligations honestly and fairly. Re.
pudiation in any form, direct or indi
rect is abhOrrent to me. l believe i
Is to the great mass of honest, hi,rd
working sons of the Democracy. BuI
let US not be alarmed by hard name:
nor prompted from the right path by
loud cries. And first of all let us cleal
away some of the rubbish that ha:
accumulated about it. Whenevel
you approach this subject, the bond
holder or his dependent assumes high
moral ground, and asks us to hold sa
cred the obligation made to repay
those who, in our hour of peril, gave
their means to sus strin the Govern.
ment.
Now, this obligation is just as sa
cred as that entered into with the
people to make good the promises
that in the shape of paper money was
issued to them. 1t is just as sacred as
that made the soldier who volunteered
to pay him regularly in gold. 1t is
that and no more. Every promise
made by a Government should be
held sacred. and fulfilled to the letter
of the law. (AppIause.) But youl
talk about this money being paid in
the hour Of our Governments peril is
not true. When the war ragged at its
height, when the result was doubtful
capital, that is ever timid and eau
tious, held back. Very few invest
ments were made when 1t was uncer.
tain whether Washington would be
the capital Of a nation or a capital OF
the confederacy. Then 1t was the
Government rested on the faith of the
people, and issued thet other indebt.
edness called greenback. But when
Richmond fell and the War was at an
end, these securities were seized upon
as an investment. Il was pure bu-
siness transaction, and had about as
much patriotism in it as any othei
business transaction when the capi-
talist seeks 10 get the highest rate OF
interest for his money.
This is no reason why we should
not live up TO our obligations; but II
clears the question of much feeling
that is apt to mislead the judgment.
This sensittveness IN regard to the
sound character of National obliga-
| tions is very fine indeed; but it comes
little late. 1 remember a law that
promised to pay US soldiers duIing
the war in gold. For awhile we had
the precious metal. Then the pay
master brought greenbacks and gold,
and OraNyn ~ Ort. "a, .l.a,. 1. =,