Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-09-17

are stirred by feelings common 70 hu
msnisy-I don't say II BY way OF threat;
IL 10 no threat, when you see the clouds
gather, 20 say that there viii be q ssorm,
or, when you see the sun rise In the east
TO say it will set In the west-I say this,
gentlemen, by way Of solemn warning,
that this capital which they have thus
invested will be made 10 pay the same
rate OF taxation as all other property, or
there will be trouble. (Applause ] lido
believe that the interests Of the tax payer
and the bondholder are. as Governor
Seymour ssys, not aptagonistic, but are
identical. believe that capital should
be subjected to fair rate Of taxation.
-la" /" The fact is overlooked that, Ia order
to make any saving by giving the bond
holder debased and worthless paper, we
must bring upon ourselves disaster and
dishopor, which will cost hundred fold
what we can save" DO believe that7
Of course / do. Does not the editor Of
the Leader believe. III "It means we
are to give to the laboror for his toll
base currency; it means that the honor
Of our country shall be stained; that our
business shall be kept in uncertainty and
confusion; it means that the laboring
man shall suffer by the increasing costs
of the comforts Of life; 1t means that the
taxpayer shall be burdened by a govern.
ment proved to be corrupt and imbecile
by the very depreciation of its money
We cannot afford to speculate upon the
nations honor at so fearful cost. There
ia great gain In this plan as upheld BY
Messrs. Butler and Stevens They not
only propose to pay in deprecated paper,
but they are doing what they can TO dis
boaor thas character and credit OF the
country. II they carry out their corrupt.
revolutionary schemes, they will pay of
the debt with paper which is not worth
ten cents on the dollar. t,t. .ie
do believe thatI That is what the
Republican party are bringing us to every
day. CApplsuse.] Believe it2 Yes. /
believe that if this extravagance, this
waste, this corruption and utter disre-
gard OF honesty is to prevail over the
Government, the debt itself either will
never be paid at all, or else paid in paper
such as Governor Seymour describes,
which is not worth ten cents on the
dollar.
"There is no Democrat living who
thinks that this can be done with safe'y,
or that it is for the interest Of the tax
payer at the East or West" Do be-
eve that2 Undoubtedly / do. EVERY
Democrat demands policy of peace,
order and economy, and just so far as he
gains that, he lifts up the national credit,
he helps the tax payer and does justice
to the bondholder." Do / believe that 2
OF course I do. he makes our eur
rency as good as sterling coin, for that
will rise with the puolic credit" Do l
believe that? Yes, gentlemen, ! do:
and believe that Horstio Seymour will
not be President Of the United States for
two years until we shall have been re
ieved of this burden of Indebtedness,
and that the legal tender notes will rise
and rise, until they will have become up
on par value. Applause. ar
The error is in supposing that under
q Democratic administration the cur
repcy would still stand fixed at discount
of twenty-five per cent. To say that is
to say that we are to fail as our opponents
have failed. The national credit cannot
be bought at profit unless the nations
character is dishonored. If We come
into power there will be no discredit to
our currency, no speculation in paying
our bonds in paper. l thank God that
the faith, which we hold as one man,
seeks to level up, not to level down, but
means that the sterling coin shall ring
again on the counters of tradesmen, and
glitter in the palm of the laborer 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 economy, they also show
how our paper money will be made as
good as gold. 1t is the faith in which we
all believe, but we don't believe, neither
Governor Seymour nor any other Dem
ocrst know Of, that greenbacks are
good enough to pay wounded soldiers,
while they are not good enough for the
boudholders ~ '-
"The downward course Of men in
power admits of traficking in the honor
Of the country" r.s-rL 4,
God knows they have done it long
enough. E
"They can sink il to that point that
the payment Of the debt will be an easy
matter, but will be at the cost Of the
honor, the peace and the welfare of our
land. While, therefore, we may differ as
to the construction of the contract with
the public creditor, We must not confound
the position of those who think it right
to pay in paper, but who battle to make
that paper as good as gold, with the po
sition of those who mean not only to pay
in paper, but who are also destroying the
value OF that paper. That is Reputation.
We are not trying to give paper to the
bondholders, but gold and silver to the
people,. f I rar =
1 believe. every word of that. / would
make that paper as valuable as coin. The
Democratic doctrine is this: We viii do
exact Justice to the bondholder; where
we agreed to pay him in gold we will pay
it to the utmost; where we agreed TO pay
him paper We. will pay him paper to the
utmost. We will not rob the bondholder
for the benefit Of the people, neither will
we rob the peopls for the benefit Of tbe
bondholdsr. Tremendous applause. ]
And "a these bonds become due $780,. 1
OOO. 600 in one year, $500 900 600 IN
another, and $500, 900 900 in the third
year, We viii pay them out Of the honest
saving Of the great revenue which the
Government has, and, as We pay them
day BY day, we will take up that mort
gage which these nen have crowded upon
the bone aud sinsw Of the country. And,
as We wipe out each 500. 000, 900 Of the
debt, so much more valuable will be each
500 O0O, 900 Of the legal tender notes.
lApplause.
A Spiritual Medium visits President John
son.
correipOndsscs Of the Boston Psst.l