Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1868-09-28

and does justice TO the bondholder.n do ! |
believe that 2 or course do "Ile makes
our currency as good as sterling coin. for
that will rise With the public debt" Do 1
believe thatf Yes, gentlemen, DO; and |
] believe tina. HoratSo Seymour will not be !
president OF the United for two vears until |
we shall have been relieved o. this burden |
OF public indebtedness. and that tho legal
tender notes viii rise and rise until they |
will have become at par value. Applause.
The error is in surprising that under dem /
ocratic administration the currency would |
stand fixed at q discount Of % per cent, /
To say tina. is 10 say that no arc TO fail as
oar opponents have failed. Toe national
creii, cannot be bough. ct profit unless
the nations credit is dishfnored. If we
cone into power there will he no discount
on our currency, no speculation in paying
our bonds in paper. thank God that the
the faith which We held % one man. seeks
to level up. not to level down, but means
tina: the sterling coin shall again ring on
the counters Of our tradesmen, end glitter
in the palm Of the lsborer, and gladden.
the heart Of the poor wounded soldier.
Our friends forget the force OF their own
argument. When they show how the debt
will be paid and taxation lightened BY econ
omv, they also show how our paper money
will be made as good as gold. 1t is the
faith in which We believe, but we dom, be-
lieve, neither Gov. Seymour nor any other
democrat know CT, that greenbacks are
good enough to pay wounded soldiers,
while they are not good enough for the
bondholder.
The downward course Of men in power
admits Of trsiiicking in the honor Of the
country
God knows they have done i. long
enough.
They can sink it to tho point that the
payment of the debt will be ar easy mat.
ter, but it will be at the cost OF the hor or,
the peAco and welfsre Of our land. While
therefore, We may differ a. to the con
struction of the contract with the public
creditor we must not confound tho position
Of those who think it right to pay in paper,
but who battle to make that paper Is good
as gold. with the position of those only
who mean not only to pay the paper but
y no are also destroying the va Tue Of tha
paper. That is Reputation. We are not
trying TO give paper to the bondholdsrs,
but gold and silver 10 the people,"
uCioVV CvCty WOtu VI LuAt. i WOuiO
make that paper Is valuable Is coin. Who
is 1t that is seeking to draw . distinction
between coin and paper money! When
those bills were paid out you were obliged
TO receive Thorn for your debts. you sold
| ten dollars worth of merchandise you were
obliged to take ten dollar note. Ifa man
owed you, you wer, obliged to take from
him deprecated paper in payment Of that
debt
Now what 10 these gentlemen DO when
| they have got these spread broadcast
through the country When there is .
legal tender in the hands of every working
man, every citizen, every working child,
| every laboring woman, every soldiers
widow is obliged to take them a. pay as the
result Of their hard toll. Thus it 10. These
gentlemen who come about and tell us that
the law which was passed in 1882 by their
own party. by their own votes-is uncon.
stitutional, and is only justified by the ne
cessity OF the occasion, and these legal ten.
dor notes shall no longer be received in the
discharge of the public debts and private
debts, they are the men who are depreciet-
ing the paper, who are spreading il broad
cast in the community; il is good enough
for the laborer, but rot for the oondhoder
But | want 10 ask my friend OF the Leadcr
this question Is il the doctrine OF the re.
publican party that these bonds shall he
paid ia gold would like TO know wha,
tho republican party believe on tina, sub
Jet. The convention which met in Mas
sacusetts day before yesterday declared the
pubic bonds should bs paid in gold. John
sherman shakes his head ct that and says
he is q little tender footed on that question
Laughter, Senator Morgan has declared
tive separate times, explicitly. that they sf.
not payable in gold, but that they are pay
able in legal tender. Ben Wade SAID tina,
when he looked into the face CT man wnt
said thu bonds ought to be paid in lega
tender, that he was looking into the face o
man who ought to be in the pententiary
Thsd. Stevens me. that By saying that hs
didn't know an honest man in the country
who didn't believe they were payable ii
legal tender.
would ike TO have this family quarre
settled M. would hike to know to-day
whether il is the tenet CT the rcpubl AN
party that these bonds should be paid in
gold. Tho Chicigo convention SAID they
were to be paid in geld according to the
letter and spirit Ct the contract. | would
Ike to know whist the letter and spirit oi
the contrac. is. have shown that wise
doctors disagree as TO what il is. is i. The
iaith oil tho republican party that tlose
bonds which were issued in 1862 -thos,
iiyc>tventy bonds-which have been il.
sued every year since, which were bough,
from the government with legal tender
when gold stood ut 250-is j. their faith
THAT these bonds shall DO paid in gold and
not in legal tender' Why, gentlemen, you
know how these bonds were sold. You
know in 1868 gold was up to 10, in 1864
it stood on an average of 200. and in 1865
it stood nearly 800, and the man who
owed his neighbor $40 900 in gold, agree
ing TO pay in 1860, took his twenty thou.
sand dollars in 1854, bought $4,000 Of
legal tender notes with it, paid sec, 900 in
gold, took the rest of it and bought $780,.
600 o! 500 bonds, and since that time he
has been collecting 81 800 q year in gold
interest; and now no claims he is to be
paid $4,000 in gold for these bonds, when
they cost him only $4,000 in gold. lie,
Us understand this business.
see before me great many laborirg
men, men who gain their bread BY their
daily work. Are you willing to 60 on pay
ing high tariffs, high taxes, that this sys.
ten may be carried out A voice, "No.'
Somebody says the laboring man does not
pay the taxes. Doesn't hc : Go to the
corner grocery and buy yonr tea, coffee,
and sugar, which costs tire times IS much
as in 1850. Don't you pay to that man
every dollar Of duty that has been collected
at the custom house when tho tea, coffee,
sugar were entered here! When you 20
= the store to buy your clothing, don't
you find the price Of it has increased in the
proportion in which these men have been
obliged to pay taxess When you rent a
room in the city in which you have been
obliged to crowd your wife and children,
don't you pay rent to the landlord in pro-
portion to the tax he has to paw to the
county treasurer Talk to me about labor
not paving takes 1t is labor that PAYS
the taxes, and it is you who sit before me
who viii have to psy the taxes upon and
the principal Of these 5-20 bonds in gold.
Applause. On the other hand, the dem
ocra,ic doctrine is this:
We will Go exact justice 10 the bondhold
cr; where We agreed to pay hirl in gold We
" 4 Pay it to the utmost; where We agreed
70 pay him paper, re Will pay him paper to
| the utmoa. We will rat r,h m. honIhof3