The Elk advocate. [volume] (Ridgway, Elk Co., Pa.) 186?-1868, 1868-07-25
VOLUME EIG HT--NU.IBER II.


Universal greenbacks, said Mr.. Train
| (Laughter)
Rev. DR.. Kendall, of st. Louis
What did the national debt DO for En-
gland
Mr.. Train-Reduced her people t,
serfs, one man in sixteen a paupcr, anc
and one child in twelve bastard. Six.
ty thousand drunkards die there ever;
year, aud only one child in eighteen
goes to school. So YOU see what is ;
national curse abroad is national bless
ing a. home.
England was one hundred and sixt,
years in rolling up her $4,000,000,00y
Of debt; America accomplished The
same result in four years When they
accused America in London debating
halls, of rolling up an immense nation,
al debt, l replied yes, but what right
had England to monopolize all the ma.
tional debt Of the world ? We will
have national debt, | told them, one OF
these days that will make you ashamed
Of yourselves
No national debt was ever paid why
should ours be 4? 1t costs us five times
as much to day for peace armament as
formerly it did for war. Our national
disease is politician GU the State, blood
sucker in the treasury, and office on the
brain. A national debt is a national
tax, 1t never was, it never will be
paid. You seem to forget that [ am
making at your request the speech of a
demagogue-or, IN other language, put
ting up a man of straw for the loyal
man to knock down. You forget that l
am against reputation, as Lowell would
say. am for greenbacks-twenty FIVE
hundred million of greenbacks-ono cur
rency instead of sixteen different dates,
eide Nc Culloch, and one kind of in
terest, that is no interest at all-jnstead
of dozen different rates as at present.
Nc Culloch's whole policy is in the in
terest of Europe, of England and, of
the bondholders. He has triedlto break
Wall street dozen times, and nearly
broke himself. Three months more
and the crash would have wiped out the
debt.
Like ballast in the ship, you must
keep the national debt steady to avoid
shipwreck. A pilot can run thousand
passengers into eternity. So Nc Cul-
loch, by specie payment can steer our
financial craft into the breakers Nc
Culloch believes in the lancet, the
speculem, and blue>pill kind of finance.
lie bleeds to restore strength. He pur-
ges to add stability. He vaccinates to
head off disease.
What a wretched state VIC must be in
to have tho whole question Of our fnaa-
ciai future depend upon two things
the state of Mc Culiooh's stom0ch and a
good crop. Once our people had sell.
reliance. Now the conversation is on
the Secretary of the Treasury. He is
selling GOLD. Up goes the price. He
is contracting. Down 60 stocks. He
is negotiating loan abroad. He wants
one hundred millions at home. He is
bearing the market. No, he is a bull
to day in Wall street, One man says
Jay Cooke is his partner, that Lanior
does his foreign business, that Meyor,
his brother.in-law, manages his gold. !
Another, he is checking out his deposits |
or is locking up grcenbscks. This is !
Wall street. Never before did man
WELD such power-one thousand six |
hundred national banks, and when they
fail MIR. Spinner says nc will cash the |
bills.
We could watch old Bid!le and one |
national bank but sixteen hundred is |
100 much for US. | gave statistics il |
ny gold room speech showing that it |
vas fair to presume that most of our
latioual banks were rotten, and were /
'nly organized for presidential purposes.
Why, as the Herald says, should we be
axed twenty millions year for this
purpose Down, then, with the ma
ional banks, aud give US greenbacks.-
Every mau who owns farm--a house
"a ship-wauts higher prices. Two
birds Of ali our property is mortgaged.
4et uS lift it OH with greenbacks. Buy
property, and mortgage it up TO yonr
hroat. Then buy more and repeat it
g0in and the greenbpck mania viii re-
lovc the mortgage and make you rich
gain.
Remember that industry, commerce,
sriculture, manufactures, create prop
rty, and these can only come with
reenbacks. Remember that no ships
n the stocks produce no shipbuildcrs.
10 factories going up require 40 labor
rs. What we in the pit ask tor is high
ages, plenty of work and greenbacks.
We want one currency without inter
IT. Now who can tell what is our debt, !
oW calculated, how many kinds Of ,
otes and times of payment ? Like
lie gobe.in tapestry of Paris-like the
osaic work Of Rome--tho mixing Of
gends, or the veins in the human body,
lr debt is so confused, SO entanglcd, so Il
'seure, that, unlike these arOlogies, it !