Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1868-07-31

be consum cd n the flames which they have
lighted. If they succeed in gaming po"s'
by this means, they will tomorrow oe's
new purposss sud want new powsss, ana
obtain them BY new means. The spirit OF
revolution il Unsuitable. II slumbers. ous
only 10 gain strength. tpsuses, but envy
40 acquire accelerated speed 1t uses the
cunning devices and unscrupuious IN
trieuss Of The politician and II these ia,i.
il viii employ the sword Of the soldier. IL
uaes the Long Parliament and the Lsgisla-
tive Asssmbly-ths block and the guiilo-
tiue-and If these fail. it calls for Crom-
we'll and Napoleon.
The radicals understand this. They pass
la. and ereanizs States, asd previd for
electoral votes, and impsach the President.
but in the meantime they dietsibuts arms
TO the negroes Of the Seuth they bind 70
them the army AID the navy By heldisg as-
cess to the paths Of promotion, and they
present, % their candidate Tor vstes. that
man in whose hand they have pat the pow
over the reorganization Of the Seuthsrn
States.
II they cannot elect by fraud, 10 there
no reason for fear they may usurp by
force 7
A decisive overwhelming defeat at the
polls will avert this danger and save TO 10
peace, At the same time that il saves TO US
liberty. EApplause
THB FINANCIAL QUESTION.
And have you been better satisfied with
the management Of the finances and taxa
| ton,
Tho whole scope OF the financial policy
u the Republican party 10 to compel the
payment Of the public debt in coin, and 90
to reduce the currency - that the coin will
be most difficult - get and moot valuable
to possess. Ito whole taxation policy 10 to
subordinate labor to capital, add the agri-
cultural laber Of the West to the manueac-
lures Of the East.
There are outstanding to-day about sew
sntesn hundred millions Of dollars in Ave-
twenty bonds. They ere payable in legal
tender notss. The Law says %; the bond
says %; Thaddsus Stevens, Ohairnan Of
the Conmitsss Of Ways snd Means, said -;
Senator Sherman says - Senator Morton
says 90; General Sehesck says -; the
Funding Bill Of the Senate says - i; the
Funding Bill Of the House says 20, for beth
propose to pay in legal tender the bonds
which are not surrendered for long bonds
Al less interest; the Democratic Osnssa-
tions in Ohio and Indisns, snd lllineis end
Pennsylvania, and every other Western
State say so; the National Convention
which sat at New York BY . unanimous
vote said 20.
Yet the Republican party, in the face Of
this concurrent testimony asserts that these
bonds shall BE- paid in gold and thus d
present rates adds seven hundred millisus
70 the public debt.
know the Republican Convention gave
out a. unoertain sosDd, but their speakers
and newspapers have interpreted it and
gave it . meaning. The 0azsfte aud the
Commercial, differing - they somssimss
do on other points, TO the distress Of the
faithful aud the scandal of the family agree
in this, that the Republican party means
payment Of the fve-twcnties il gold, and
tho Democratic party means payment 10
grssnbacks. l agree with both Of them.
That 10 just what they mean.
The 0asetts says it 70 silly TO talk Of dis
charging one promise 70 pay with another
, promise TO pay. Not At all, il that was ths
contract. And it Was the contract here
, rho Government said We will issue lega
! tender notcs; We will put them IN cireuia
ton. No will take them for taxes; We vii
;. require erybody to take them for debts
We can buy with them every thing We need
we will need . great many We will Ole
J, large inducements TO get them We viii
issue our bonds bearing elk per cent. inter
est in gold We will sell them Al par in 10
gal tender, W will give them five years .
' least to run-twenty years il our necessi
= ties rsquires-as long % they do run they
shall pay six per cent. interest in gold
, Gresnbacks deprecated aargsly. Col,
> stood at 100, 200, 800.
= The capisslists said W will buy thes
u bonds st fifty cents on the dollar. Thee
will pay W twelve per cent. interest il
: gold They ere free from taxation. Thsy
- will not DO redeemed at least for five years
'e That will give sixty per cent. Of the Who'll,
amount in tive years. They will not b.
= redeemed until the war 10 over, then green
backs will Be more valuable. II gold stand
ct 40 per cent. when W are paid, W vii
- be very we'll content. So the capitals
= took tifty dollars in gold, and with j
!. bought hundred dollar bond. He recsiv
y ed six dollars . year interest. He held i
i Ave years, and has received thirty dollar
in. II he has paid one hundred dollars II
y grsenbacks to-day. he can replace his origi
nal Investment of fifty dollars with seven
ty-one dollars in gold. Twelve per cent
in gold and an increase Of the capital near
J. ly fifty per cent. 10 that very hard on tn
= bondholder, or very silly bargain, ~ tn
Gazette seems to Think
But the Republican party aays that thss
bonds shall not BE- paid in grssnbacks, an,
!, that they shall not be paid at all for fort,
years. Reduce the interest and extend III
!, time! No, gentlemen that 10 not the ,ru
. . policy. Pay the debt and stop the intsres
entirely. Suppose you reduce the intsres
4 10 four per cent, and extend the princips
. for forty years. II your debt should b,
|. $500, 000. 200, you would pay one hundred
:, millions yssr. At the end Of fsrty year,
: yeu would have paid nearly double you
!. debt, and Jet have the whole Of the psinci
!, pal yet to b discharged il gold. Forty
/. yearsl How many Of yov will live thai
! leng! How many Of your children vii
. havs died before that timer And Jet thes(
: hundred nillisns year ~ill b drained 70
. mstsslsssly through oil that time from u,
. labor Of tue country.
Ferry years, gentlemen, that will make il
. . permanent institution. Then it will nevol
, b paid. Then il will b axsd upen 10 fer
ever and, like the public debt Of Eneland
o. France. will forever eat out the cub
1 shs most fruitful ssures Of corruption and
1 syrrsny. [Applauss. And labes, which
3 must pay this, brsthrsn, 10 70 b deprived
Of han it, occupation, or Of half its wagss
j. By the Rspublieaa system Of ceatractina
the currency. Why are eur streets empty
Why have our public and private Improve
! ments been ssrtailsd. Why have rent,
fallen. failures taken place, and Why amona
!. laborees. especially. this cry Of bard times
j and di6eulty In supporting their families
Simply because our friends insist on cur
i. failing the currency, aud thus knocking
down oil pricss. In this way The gold int
!. rest 10 made moro and mere valuable.
Gentlemen, are you sstis6sd with thi,
, policyf Voices, mo / Ner'l
TAXATION.
Taxse havs been diminished Have they
: indsedi What tsxss9 Taxes On the man
q ufacturss Of New England taxes on whis
by. That may relieve The New Esglasdss
: Of his burdens, and the whisky ring Of thsi1
profits. How much docs IL relieve You p