The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-09
P OLlTIc AL.
Republican Demonstration at
Cooper Institute.
Speeches Of Senators Morgan
and Conkling.
The Finance Question Re-
viewed.


ings now being held under the auspices OF the Union
Republican Presidential Campaign Club took place
TN the Cooper Institute. The hall was filed TO over.
nowing before the proceedings commenced and the
utmost enthusiasm exhibited for Grant and
Colfax AS usual on these occasions there was q
large attendance OF the fair SEX for whom seats
were reserved. magnificent basket of flowers
was placed on the platform. Among those present
on the platform were Judge Mason, George 0pdyke,
Generals w. II. lAnthon and T. s. Arthur, and ex-
Judge Henry E. Davies.
Charles s. Spencer presided and made brief in
troductory address, after which he presented the
nrst speaker Ex-Governor Morgan, OF New York.
SPEECH OF SENATOR MORGAN.
Senator Morgan, on being introduced to the audi
ence, was received with enthusiasm. In commenc-
ing his speech he said that at the North the demo.
Gratis conducted their canvass with rancor before
unknown to our politics. and at the South o reign
OF terror was nauguraed to control elections there
After indicating the republican party against the
charge that the Union could not be restored by he
said that the republican organization still maintained
that from the day Of the firing upon Sumter until
treason is forever obteraed from the country there
could be no compromise with rebels. nor terms OF
peace except such as are based upon un.
conditional surrender Of their hostility and
return to their just allegiance to the constitution
THE FINANCE QUESTION.
few days ago his Honor the Mayor OF our city,
In speech at Buffalo, took occasion to refcr to my
views on the question Of the finances He said that
held with tho tribune and the Evening Post that
the letter and spirit Of the laws mean that the gov.
eminent bonds are payable In gold. For once the
Mayor is right. do 30 hold. The first issue OF
bonds was made at a time when no other than gold
standard was known or thought Of. trining DIFF.
ference between gold and currency had then been
reached, 1t is true but every believed it to be
temporary 1t entered into the calculations OF no
one; yet this slender circumstance affords
absolutely the only apology for any question
on this grave subject. The law authorizing the
first issue was substantially like former laws grant
Ing power to issue bonds which had uniformly been
paid In CON- and all subsequent loan laws have been
but an extension Of that Of February, 1899. was
ct the time, IN situation to have known something
Of the doubt on this question Of coin payments had
any doubt been entertained and do not hesitate to
assert that gentlemen who are now 80 csmorous for
payment in greenbacks never dreamed Of doing 10
them Neither the legislative nor executive branches
Of the government held any other doctrine than that
was without money; the soldiers who had calamity
volunteered to save the Union, and had left their
supplies Of ali kinds were wanted. THESE bonds
offered the best mode Of securing the necessary
me nendd other Sna for
classes felt It duty to give the preference to the
government, and SO the money was raised In sums
Of $50, 500 and larger denominations.
The lender went to the law to the agent who sold
him the bond and to the ocer who represented the
varying story. "If you will lend Va your money
now when we 80 much need II, we win repay you IA
the medium in which the American republic always
meets its bonded debt, in gold.n Shall we now re-
pudate the cOntraCtp
Much as respect the Mayor personally, IL is sell
dom that can agaee with him on any political uues-
ton, and on this question Of finance we widely
differ. He refers to the fact that the republican
nj in nlu lno&
Ing bill hat provided for the issue Of new bonds
running and ser yea anr and bearing
senate also srsssed the same bill. Indeed; it re-
;eived the UNANIMOUS support Of Espublicans
have epG s$dsS .s sns Ssdes
he bill, and thereby prevented reduction in inter
rhe Mayor expresses surprise that any be found
oosh enough to exchange existing issues OF bonds
en1 e essentiay lower The sixth resolution Of our
platform affords the answer. 1t says
The best policy diminish burden q deb. !. to i'm.
lower rates Of interest than pay, and
y Pay Or Of
The democracy have threatened reputation and
ave created so much distrust that holders, rather
han rest In uncertainty would In many cases. ex-
hange for such as, bearing lower rate Of interest,
honid have the word gold expressly named In the
But why all this clamor about bonds' They are
ot due. Why force forward, with indecent haste
uestion on which so much dependsf And why
hould the Mayor and his political friends oppose an
nicient and practicable plan for lowering the rate
interest on the public debtf Is u Tor the adyan.
re to treat honorable effort with jeers, and. while
roposing nothing themselves, to lend their whole
influence further to break down the public creditp
he secret is that theirs Is an ignob!e attempt by
lctious agitation to get some party advantage But
Will rail-
II has not escaped your attention, fellow citizens
lat many who now express great socitude about
re public securities were or those who decried every
ecried the national credit during the war, and
lereby forced down the market price OF the bonds.
orhy Of better cause. 70 keep their value down.
is principle Of law that party cannot take ad:
nS should % estop So good lawyer as the Mayor
ON fault finding on behalf OF his party. Had the
eople Of the North without reference TO politics,
pheld the credit OF the nation the war would have
t far less money and the necessity for present dis
s-ion o. the peenback question would have been
The republican party saw at once and have held
nwaverlngly from the start that the national credit
linked ,nss Tp sas 10 pr 81 s
Lllstments or fight the battles Of 80. 80. war tnau 10
aintan popular c2plde-..ce in these bonds ana In
waGs sa iss PsS % sTsa the Da
that the national faith deed for The redemption Of
bic debt, must be layiose And thai Isl. purpose
,sSsss Ina siSs'sy o sas ,sr ss
sS u sS Ss Use q ts s ynkaa
Not one word on this subject appeared in the
smocratic platform OF that year, while on the
Jump and In their press greenbacks were DETAINED
ll government bonds were the subject OF measure
- dersonthe standing butt OF their keenest rldi-
Win as an article OF party nsgs to
ithoriues and to disparage the public credit. All
ia tended to lower the value of the bonds and 70
crease the burden OF public debt. The course was
wicked az 1t was costly TO the country, and when
om his earnings the taxpayer takes out his yearly
YES let him recolect that half the assessment Is
the distrust OF the public credit created by the
mocratic party, and the other half to put down
benion Matched by democrats encouraged by demo
ais aud begun under democratic President. Who
en- In the light OF these facts Is responsible for the
xes. and especially for the depreciation In bonds
IA preenbacks3 Can there be more than one an
YER and shall the control OF the public finances be
nded over TO a party that has shown such o reck
u disregard OF the public credltf
ln,. ur.inn WIN cries down The crnlH of