The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-20
The General Committee then adjourned.
The Issue Of the Canvass Upon the Business
and Prosperity Of the Country.

The Issue Of the Canvass Upon the Business
and Prosperity OF the Country.
The fourth OF series Of speeches on the Presden-
tal issue was delivered last night before the Union
National Republican Club Of this city by Elliott @.
Cowdin, a merchant OF this city. After reviewing
the war and its results he alluded to the national
debt as f0liows:-
Our public debt presses heavily upon the industry
OF the country. The taxes which necessarily how
therefrom lay their grasp, directly or indirectly,
npon everything we eat, drink, wear or use. These
noble struggle to preserve the republic. He who
gazes, not without solictude, upon the colossal
wholly without repning, to the searching exactions
OF the tax-gatherer;l the millonnalre who
Gle laborer who pays enhanced prices for everything
he consumes, should all remember that these bur-
dens were heaped upon them by band OF demo-
cratic rebels who, after shedding an ocean Of blood
and running oac-half OF the Union and plunging the
other half into unprecedented financial diasters,
are now clamoring for the election OF Seymour and
Blair and threatening in the event OF their triumph
to involve the country III another war. The neces-
sy OF creating this debt and evyng these taxes Is
OF the Southern democracy The loyal masses firmly
met the issue The resources OF the country proved
adequate TO the great emergency. The citizens con-
fribed OF their substance to its treasury and freely
gave their blood 10 vindicate It's flag We triumphcd
and as The God shall be held In everlasting remem-
brancc Nv our children and our chlldren,s children.
80 posler.ty VIII discharge the debt to the utmost
f.rhing, according to The letter and spirit OF the
the bonds viii be paid, az viii the greenbacks also,
and both in the currency OF Chrstendom. As the
gratitude OF tile nation will prove ample to canoniZe
Inc sacred dust or its heroic dead, win It's re.
polrtes aud It's integrity be found sufficient to keep
faita ia those who trusted IL IN dark and perilous
era. The democratic press. III commenting upon the
result OF the late elections taunngy REMARKED that
the boated foreign bondholders were rejoicing he.
cause il might enable them to realize 100 for what
cy pGid only forty cents Ii through the crimes OF
our enemies the national credit was thus dcbased let
'"'t thro"o'' the virtues or 60, trends IL
% y a re!yss Improving A win arr's" at
what we al 80 mitch deslre-specic payment. Why
should tue credit OF Massachusetts,, whose five per
cent bonds are now selling In London at nnety-fve
cents be 20 much better than the credit OF the United
States, whose six per cent bonds bring IN the same
people OF Massachusetts have been unit In uphold
Ing the credit OF the Commonwealth beyond perad-
venture the possibility OF doubt; while the valid
fy o the national debt has been questioned and our
credit materially damaged by the authoritative
declarations OF the democratic party. Nations, IKE
only the basis OF oil great enterprises but Is the life
OF an Industrial people. The financial disasters that
would follow the success OF the democracy would
AFFECT our credit In all the markets OF the world.
Large amounts of our bonds are held in Europe.
The holders already show signs Of uneasIness
because of the democratic threats OF practl-
cal Reputation. The character Of our people
Is on trial on every Exchange beyond the Atlantic
Not the bondholders and moneyed men only In for
eign lands, but those who stood up firmly for the
linton during the war. earnestly depreeate the sue
cess OF Seymour aud anxiously desire the triumph
OF Grant, 80 that the honor and integrity OF tue
nation, both financially aud politically may be vind.
Gated. John Bright, the champion OF freedom and
equal rights In his native land, whose thrilling Go
oiencc fesoundcd In our defence during the darkest
period OF the conflict, now ardently hopes for our
success in the present issue. Count lie Gasparin,
fbc author OF that invaluable tribute to our
counlry. Issued during the gloomiest hours Of
our struggle, .srhe Uprising. OF Great
Peopler earnestly desires the election OF
Grant and Cofax. 50 also do those. other
champIons OF liberty, Edward Labouaye and Henri
Marlin the French historian. 'You are right,r says
the latter .in believing that we are warmly inter-
ested n your Presidential contest. The election OF q
sol dfsa,i, democrat would he great Calamity. but
we have full confidence in the success OF General
Grant.v
The Democratic Torchiight Procession.
The Committee OF Arrangements, Of which Captain
Ryndcrs Is chairman, met last evening at Masonic
Hail. Thirteenth street, to decide upon the order OF
the proposed procession and TO give final instruc-
tons az TO the order In which the same was 70 be
carried out. TIC irrepressble Rynders was punctu.
ally az s post. bus II must be sad-and cts true,
tits pity, and pity 'tis it's true'-the Captain looked
little chapIallcn wheif he Gazed around upon the