Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1868-08-14

present rates add seven hundred millions to
tho public debt. | know the Republican
Convention gave ont an uncertain sound,
but their speakers and newspapers have
Interpreted il aud given il meaning.
The Gazette aud the Commercial, differing as
they sometimes do on other poiuts, TO the
distress OF the faithful and the scandal of
the family, agree in this, that the Repubi.
can party means payment Of the Eve
twen ties in gold, and the Democratic party
means payment in greenbacks. | agree
with both Of them. That is Just what they
mean. The Gd-gtte says it is silly to talk of
dischargjng oue promise to pay with another
,fOmise to pay. Not at all, if that was the
contract, and it was the contract here. The
Government said we will issue legal tender
notes we will put them 10 circulation We
will take them for taxes, we will require
everybody 60 take them for debts; we eau
buy with them everything we need We will
need great many; we will offer large ia
ducements to get them We will issue our
bon Is bearing six per cent. interest IN gold /;
We will sell them at par in legal tender We
will give them five years at least TO run
twenty years if our necessity requires it,
as long as they do run they shalt pay six
per cent interest in gold. Grcenbacks de-
preciated largely. GJld stood at $50, 200,
bouds ut fifty cents on tho dollar. They
viii pay us twelve per cent. interest in
gold. They are free from taxat ion. They
will not be redeemed, at least, for Ave years.
That will give sixty per cent. Of tho whole
amount In five years. They will not be re-
deemed until the war Is over, then green
backs will be more valuable. lfgold stands
at l40 per cent. when we are paid, we will
be very we'll contented. SO the capitalist
took fifty dollars in gold, and with it bought
hundred dollar bond. lie received six
dollars a year interest. lie held IL five
years, and has received thirty dollars in
gold. lfhe is paid one hundred dollars in
greenbacks to-day he can replace his origi.
nal Investment Of fifty dollars with seventy
! one dollars In gold. Twelve per cent. in-
terest IN gold aud an increase OF the capital
noarly fifty per cent. Is that very hard on
the bandnolder, or very silly bargain, as
the GIzette seems to think But the Re-
publican party says that these bonds shall
not be paid in greenbacks, and that they
shall not be paid at all for forty years.
Reduce the interest aud extend the time
No, gentlemen, that Is not the true policy.
Pay the debt and stop the interest entirely.
Sup uppoSe you reduce tho interest to four
per cent. and extend the principal for forty
years. If your debt should he 81 500 ,000,-
| 900, you would pay l00,00O,000 year. At
! he end of forty years you would have paid
nearly double your debt, aud yet have the
whole of the priocipal TO be discharged
| in gold. Forty years How many OF you
live that long? How many OF your CHILD
reu will have died before that time Aud
yet these 500, 900, 600 year will be drained
rsmorselessly through all that time from
| the labor of the country. Forty yeas |!
J ~ thot nil 10 q
| institution. Then It will never be paid.
Tneu it will be fixed upon us forever; and,
! like the public debt Of England or France,
will forever eat out tho substance Of the
people for interest, and prove the most fruit
| iul source Of corruption and tyranny. Ap-
plause Aud labor, which must pay this,
brethren, is to be deprived OF half its occu-
patton, OF half its wages, by the Republican
| system of contracting the currency. Why
arc our streets empty Why have our public
and private improvements been curtailed
Why have rents fallen, failures taken place.
and why among laborers especially, this
cry OF hard times, and difficulty in support
ing thor families? Simply because our
/ freEds insist on curtailing the currency,
ard thus knocking down all prices. In this
! way the gold interest is made more and
more valuable. Geutlemen, are you sat
saed with this policyf Voices" No
no."
TAXATION.
Taxes have been diminished Have they,
| ndeedY Taxes on tho manufactures of
! New England--taxes on whiskey. That
may relieve the New EngIander OF his bur-
deus, aud tho whiskey ring Of their profits
| How much does II relieve your Do you
get tea, or coffee, or meat, or bread, or
clothes cheaper than you did beforel / met,
last year, Republican, who said "What
do these poor fellows care about that They
pay no taxes" All my friena, they pay
all the taxes. Labor alone creates wealth.
| In the price of their tea and their coffee
they pay the tariff duties; in the price of
their clothes they pay the tax on cotton,
the tax Of tho manufacturer, the income tax
Of the merchant, and the license Of the re-
| tail dealer. In their rents they pay the
laud tax Of the owner. so you do care
about it. tCheers.l Do you believe there
! is purity la tbs administration Do You
believe fair amount is collected and if
collected, that a fair amount reaches the
treasuryi Ii not, who is responsible You
have a Republican Congress to make laws
a Republican Senate 20 confirm appoint
msa,s, a Republican Secretary of the Trea-
ury, Republican Commissioner OF InieN
nal Revenue, Republican officials every
| where. The tGS ttiop, State and Federal,
amounts 10 about $500, ,O00, 900 year, nearly
six per cent. of the whole amount Of all tho
reel and personal property In the United
| States How long will any people bear
this before they will resort to the last rome
/ dy OF repulaiiohl Gentlemen, / win not
pres this subject further Tonight. Are you
satisfied With tho way tho money, thus coli
lected for taxes, has been expen ledi We
haze an enormous public debt. Are you
williug thit IL shall be Increased aud per-
| petuatedl [YOlcos-" MOI n3!"l We pay
an enormous rate OF interest. Are you
willing that il shall, year by year, eat out
| your substsucel We expend annually
! enormous sums for standing armies, Freed
mems Bureaus, military govsrnmants. Snail
this he continuedf Voices" No no! -
The Democratic party points you to its pay
ment Of the war debt of 1912, and Of the
Mexican war, and it promises TO pay this
debt lt points you To the low taxes aud
tariffs Of the past, and it promises to reduce
| your taxation. IL points you to the $780,
O00, 600 spent by Mr.. Buchanan, ami proni-
ses honesty and retrenchment,and economy.
| VIII ,y1u not come 10 IL, and aid it, my
friend Break the tie'of pref udice or asso-
citation that binds you. 30 brave enough
TO act upon your convictions. The Demo-
cratic p irty belongs 20 no man or set Of fnen.
lt is the party Of tho people. Ills the p4pty
Of progress, OF liberty, Of humanity. ZAP
plausel IL * just to capital, but Il 10 the
friend aud proteotor Of labor. IL Il the
party Of a simple, plain, Inexpensive gov
ernment. IL is the parry of the Couslitu.
ton. All who assent 10 is principles are
| welcome TO its fellowship. Il requires no
probation, but invites all alike TO its fold.
| aid II, my friends. Give 1t power Il has
shown that It knows how 10 use il. Cundde
| to IL the Government. Il has shown that IL
cannot beiray the trust. ID this, and you
will regain tho Union, peace, prosperity,
aud Maternal concord winch we once en-
joyed. lGreat and continued cheers.