New-York tribune., 1868-10-09

taxpayer Of the country to Go sol Ist we TO treat hon.
Orable effort with leers ana while proposing nothing
break down the public credit The secret is that theirs
Is an ignoe attempt by factions agitation, TO get some
party advantage. But 10 viii fail. 10 has not escaped
your attention, fellow citizens that many who now eX-
press great s0cude about the public securities were or
those who dericd every effort 10 raise and money
for the war, and also decred the national credit during
the war, and thereby forced down the market price OF
the bonds and have labored from day day with per
sistency worthy of better cause keep their value
down. II is principle of law that a party cannot take
advantage OF It's own neglect, or miSdoingS This, |
the Mayor from fantndnc ON behalf of his partyI Had
the people Of the North without reference TO politics up
held the Cre OF the nation the would have
less IN money and the necesitv for present discussion of
the greeuback question would have been wholly Obyated
erney nom The sft fnat e national credit was linked
nsoluby with the preservation of the Union, ana they
not ready 10 promote enstments fight the
battles Of the war; than TO maintan popular confidence
in these bonds and In the whole system Of the public
credit. At the Baltimore Convention of 1864 de
clared lhai tno national faith. pledged for the redem
tOn OF the public debs must be Kept nyiOate ana that
Tor thls purpose recommend economy and rigid re-
just system OF taxation aud that il is the duty Of every
ne pations rnrrci'cy M ",. i,r,rI an fbis snb.
Ject appeared in the Democratic platform Of that
year, while on the stump and in their press geenbacks
we're DETAINED. and Government bonds were the
keeneSt rdiculc 10 with them article OF party
usage to shower indiscrnnate censure upon the cons
tuted authorizes and 10 dsparagc the public credit All
crease fbe bmr,en of nnlls debt The course was as
wicked as 1t costly to the country and when from
his earnings the Taxpayer takes out his yearly taxes ct
him reeollcct ft bof e asesseut is for The diStrst
of the public created by the Democratic party ana
the other hali TO put down rebellion atched by peO-
rails encouraged by Democrats aud begun under q
TenocrntiN Pfes,dcnt TApnIaIsel Who then in the
hight of facts is responsible for the taxes, ana
especially for the depreciation bonds and greeubacks
Can there Dc more than answer and shall the control
OF the public finances be handed over 10 party hat mas
shown such reckless disregard OF the public credit IN
law who cries down the credit OF am lndNsua
must answer in damages IL was not belSEcd that III
this country whore the people rule any could be found SO
lost to patriotism un-Amecan, rs 10 cry down the ma
tons credit; hence lawmakers have fixed no legal penalty
for such an ohci>e But they were 100 chataoie IOr
we now a great party. m the hope
OF gaining partisan advantage, attacking The
nations credit Yes, Tor mere ephehera oeheht uol
lasting wrong IN matter so vital AS American citl
cannot be indifferent toa course so shameful IL
there Is any other portion OF the territory OF me Cht1
States population anywhere on the globe. equal
in numbers rinOTseeSly taxed, wnere the abuses
so general so 0rtpS F!ahteu anu 80 oIaltI Is III us
city. Ofcered, controlled hound hand and foot by the
Democracy. should bo glad to know where IL s for the
taxpayers oi hdt Iited spot might Justly cm the com
msseratiOn Of mankind There Is certainly such spot
on the American oohheht oalares' leIqu'SuSSS '.h th
Jobs enjoyed oy rings ana rings WITHIN fss Nny tne
Mayor of our cy, Is said receives Tor constructive
duties salary than three times large that of
the Governor OF the state OF Newf0rk ana more than
half large that of the President OF the United states
The City Law Department costs more than the Law De-
partment ot tAc Federal Governments; Anu we nave
city bureaus upon bureaus in such endless extent ana
weary in meeting the demands for their support Does
IL therefore aStOnish you, gentlemen that
any one connected with this city ADMINISTRATION;
would venture To tak upon the subject Of ecOnOmyi
il almost thrd OF century since came to TINS
business men jealous not only Of their own personal
credit. but Of e credit and commercial standing OF our
city as we'll ard equally alive to the Importance OF man
tanning the States and the nations credit Our banks
and mOneyed institutions have always been the first 10
come forward to meet any emergency IN the pubic II
They ia high financial standing something
far ranseeudng in Importance mere party success and
can be grahed with further depreciation IN the public
credit least OF an WIN making u ihe SUBJECT Oh erri
than that OF Tie United states Of America. What their
rel /
know but venture the remark that no party exists IN
NewZealaid as here whose slogan is down with our
credit" That's the secret of NcwZealand's favorable
own jniation Fleet Grant and Colfax, Grswold and
Cornell lapp!~usl, and you will forever silence
all dangerous efforts this direction. And here
let me say tnat n all whom I now address were as
Intimately aco s.ntcd with John A. Grswod and Alonzo
Il. Cornell, the publican nominees for Governor ana
Lieutenant as am, they would not only give
them their votes cordially, but would do all IN Their
power 10 influence others TO do likewise. Mr. Grswod
five years pcsi has been faithful and able Represen-
tatve in Congress, and both gentlemen possess in an
eminent degree qualifications for discharging the
responsible duties Of the offices for which they we're re-
spectiyey nominated and should receive the vote OF
every who loves his State and Country IL has been
cOncusyey shown that the debt existing at he close OF
has already been essened by one fourth and this
at period when we were emerging from the nine-
date embarrdeoeuts OF colossal strgse Wneh Dut
part OF the couy afforded revenue, when business was
being uded over from war To peace. when crops were
none the best aui when local. county. and State war
debts were demanding payment. These nave Deen
blessed as Tins year with abundant crops ana we are step
by STEP lessenug tine public debt. Add 10 this industry
our opponents nave nade themselves hoarse WIN Ihe
cry that the Government bonds not taxed II WAS
judgment o tGe fathers OF the Republic especially Of
that wise aud able first Minister Of Finance Alexander
Hamilton, that 20 was against public policy % allow
wiser tnau they by their terms, however, the bonds
may be lquidacd after given period THIS enables the
that the reduction viii itself be equivalent to tax. And
there be eiectua tax than reduction of the
every dollar, az home and abroad None are ingenious
enough escape t The Republican Congress says this
slafl la
sentatveS and by the President It shall not But
we can wait Tie rising of the sun is not more certain
than the ultimate reduction OF the interest on the pub
lie debt aud the consequent large saving TO the people
The Democratic marty has mOnrued long over the dca that
the bOndhoder bloated parsonage II true 1t wOnd
lie bad enough the bOudhOde for any Of morbid
Imitation is bad AID between the bondholder and the
plOwhOlder there Is. they would nave us believe,
great gulf Now | happen 10 know some plOWhOldeTs
who are themselves bOndbOlders and IL mistake not
the American farmer we'll able hold bonds and to
protect hs rights is any Of these gentlemen who seek
10 be their champions And n is especially noticeable
that the great naOrites rolled up by the Republican
party obtained among the plOwhoders themselves,
the Democrats are fond OF calling the farmer Aside
the fact that large share Of the bonds In the
hands of the industrial part Of population portion
OF the American people Is so much interested IN main
tanning the integrity OF the contract between the
Government and the bondholder as the tlers OF the
soil and the ah0ring classes Inc nechalc 100 IN thls
country generally his house To save himself from
loss by fire. loss. he could i afford he usually nsures
II. The insurance company III turn must invest us ca
tai and It's surplus earnings in some good security The
public stocks Ofe$ the most convenient, and untn
Gently have been held 10 De the safest investment Inc
fire companies nsurng In this State alone have invested
not less than S2OOOO IN United Staes securities per
haps "a million has been invested in United states
stocks by companies that insure against railroad ana
other casualties And find that including fire, life,
and marine insurance, the whole sum that would be a
fected by the reputation OF Government contracts
would be- about $ OOOO0OOO0. The security IN part Tor
this vast aggregate, IN winch every hOusehOd inter
ested. is s55000OOO In Government bonds Ibei lhere
is life Insurance To whom is this form OF IN
great boon as TO the mechanic and aborDg
man. whose daily wages are absorbed in rearing family
More than 100000 life policies force in State
representing upward Of 81 in risks, and nearly
$250ooooo Of their assets are invested IN United states
bonds. When, therefore, you strike down the Govern
ment credit iuie cruel wrong upon hundreds OF
thousands Of women and children. There are IN our
State l0 Savings Banks OF these 50 have investments