Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-07-29

ormous revenues it has raised in time of
peace, and squandered upon the Freed
mems Bureau and large military force
We must arraign 1t for not only attempt
ing to force negro suffrage upon the peo-
pie North and South, against all the in
stincts and proprieties OF our nature and of
the examples of history, but also for the
wicked and inhuman design of placing the
white people of ten States of this Union
under the government and control of idle,
pennies, ignorant negroes. We must ask
it to explain why it has been necessary to
collect, in taxes from the people, in the
three years since the war, the enormous
sum of one thousand five hundred millions
of dollars; and why only two hundred
millions have been applied to the payment
of the debt. We must ask them why, in
levying their taxes, they place all the bur-
dens upon the labor of the country and be-
stow all the exemptions upon capital. We
must arraignl iJ for ejecting white
men from Office to which they bad
been duly, elected, merely to make
room for negroes to be appointed by
the General of our armies. We must
arraign it for wantonly converting our
debt, which bears no interest, into debt
which draws interest and that interest
payable in gold. We must arraign it for
continuing in existence the National Banks,
at cost of thirty millions year to the
taxpayers, when we might have, in legal
tenders, better currency than the banks
afford, and save the thirty millions paid
the banks for interest on the bonds they
hold. We must arraign it for continuing
to exempt from taxation the bonds of the
Government, which draw a larger interest
than your laws allow on private loans,
which are subject to all manner of taxation.
And we must arraign it for the monstrous
and stupendous fraud of attempting to add
to our already enormous debt seven hun .
dred millions of dollars more by paying in
gold those bonds which we only agreed to
pay in legal tender notes. jTgj 5ioa"
Many of these questions must leave to
others to discuss. AS an active business
man, whose every interest, pr sent and
prospective, is so intimately connected
with, and so dependent upon, the prosper
ity of the producing and laboring classes,
attach so much value to the payment of
these fve-twenty bonds, at maturity, in
legal tenders, and of subiecting all bonds
to their just share of taxation, that you
must pardon me If give to these subjects
more than ordinary attention during the
canvass. The idea of longer allowing these
bonds to go untaXed, which draw about
eight per cent. interest, in currency, and of
imposing all manner of taxes upon prom
issory notes which, by your laws, are only
allowed to draw six per cent. interest, is SO
unjust and so fragrant an outrage upon the
rights of the people as ought, of ITSELF to
Republican party refuses to tax these bonds
and howls reputation at every man who
demands it. l am not afraid of that
sort of clamor. Whatever Justice de-
mands and the law allows, Twill defend,
no matter how hard or fierce the opposi-
tion. Justice 20 the hard-fisted laborer
justice to the Industrious mechanic; Justice
to the patient and toiling farmer; Justice
to the enterprising business man, does de-
mand the taxation of these bonds, and the
law under which they were created allows
it, and if elected to Congress will vote to
tax them, call the act what they may.
But of still greater Importance to the
people at large is the payment of the 500
bonds in legal tenders, as fast as they mature,
and thereby saving the interest, amounting
to over hundred millions annually. This
proposition. although in exact accordance
with the terms on which they loaned their
money to the Government, the bond-hold-
ers oppose; and as the Republican party
oppose 1t also, they are, of course, the
bondholder's party. 1 can well understand
why the bondholder wants gold instead OF
greenbacks, but cannot understand why
great party should back them up in it,
unless the bondholders have agreed to divide
with the leaders of that party the six
hundred millions of profits they are trying
TO extort by fraud from generous people.
Now, L would do no wrong or injustice
to the holders of bonds. They loaned their
money to the Government at a critical Pc
ROD in our history, and at a time when the
salvation of the Union depended upon the
loan; and they are therefore entitled to be
fairly and justly dealt with, and would
so deal with them, but never will consent
to pay these bonds in gold worth 81 40,
while greenback is worth only par, and
l will never consent to pay them in any
thing which is worth more than a green
back, nor would postpone payment day
after maturity.
1t is claimed we owe something of graft
tude to those men for loaning their money.
The nation will recognize no such claim,
because it does not of truth exist. They
loaned their money because it was the best
investment they could make at the time,
and it is sheer hypocrisy to claim it was
done with any other motive. So monstrous
is ms Joint demand of the bondholters and
Republican party that even Thad. Stevens
threatens to leave the party and vote for
Seymour and Blair, if this demand is per-
sisted in. What Thad. Stevens threatens to
do thousands of honest men will do, to their
own credit and to their country's honor.
And now, in conclusion, let me exhort
you to work. Nothing great is achiev-
ed without labor; and every, triumph
is only the sweeter, if won with
that toll and devotion which earnestness
inspires. We have every incentive to
labor which can possibly move man to
duty. The magnitude of the interests at
stake are such as never before challenged
any people to conflict. 1t is a struggle to
preserve our old Constitution, under the
observance of which we rose to be the
mightiest and happiest people on earth.
1t is struggle to place military despotism
and arbitrary power in subsection to law.
1t is struggle to rescue a part of our
country from the desolation and disgrace
of negro superiority. 1t is struggle in
which we must arrest the career of this inn
pious Congress, or prepare to bid adieu
to the institutions our fathers left
us. There is no alternative, as
I solemnly~ believe, and we must enter
into this campaign with this conviction
hanging like drawn sword above us, and
we must work knowing we have terrible
calamity to avert or suffer. Let our activity
and our earnestness show we believe and
dread the reality of what we charge upon
our opponents, and our earnestness will so
impress all people with our sincerity that
we will not only triumph, but will achieve
such victory as will, for all time to come,
be held up as warning to those who would
trifle with the social rights of the people.
Gentlemen of the Convention, l hope to
meet you all, often during the canvass, in
your townships, and will then speak to you
freely and fully upon all questions, without
notes or manuscript. In the mean time,
"keep the ball rolling"
The First Seymour Pole in the
State