The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1869-10-01


the cry of Reputation Ifno such cry were
heard in our land it would be $4O,OOO,OOO
annually better of than it is. Read the
following;
The sum total of this loss directly charge
J able upon the fepudiatOrs is more than Que
! hundred millions, already paid in taxes; and
| much fear, fellow citizens, that before the
nation can recover from the discredit infict-
ed upon ii, another hundred millions will be
paid in the same way. 1t is hard to see this
immense treasure, wrung by, taxation from
the toll of the people, to pay these schemes
| of a dishonest Democracy. Do not forget
that the cost of this experiment is confined
to no particular class. Wherever the tax
gatheTer goes there it is paid. Every work
man pays it in his food and clothing: every
mechanic and artisan in his tools; every
housewife in her cooking stove and fat iron /;
every merchant in the stamp upon his note,
| every man of slavery in the income tax; aye,
even every laborer in his wood, his coal, his
potatoes and his salt. Many of these tsxes
| imposed under duress of war will be removed
soon [ trust; but sill the enormous sum Of
forty million annually must be contributed
by the labor of the conntry until the world
is convinced that, in spite of Democratic
menace, the Republic will maintain its
pHghted faith to the end
People wish 10 reduce taxation. tell you
how. Be honest. Let no doubt rest upon
the public faith. Then will the present
burdensome tsxation grow "small by de-
grees and beautifully less" Ii is the doubt
which costs. 1t is our country as with an
individual, the doubt obliges the payment of
ertrd interest. To stop that extra interest we
must keep faith.
Mr.. Sumner depicts the distress and fuan-
cial ruin which would follow any attempt to
carry out the boosted financial schemes of
the Democracy He says:
Now, it appeares from investigations max
ing at this moment by Commissioner Wells,
whose labors shed such light on our fuan-
cial questions, thatour annual product reach
es the sum Of 700 million dollars, But this
enormous amount depends for its value up
on exchanges, which in turn depend upon
credit. Destroy exchange and even these
untold resources would be an infinite choas,
without form and void. Employment
would cease, capital would waste, mills
would stop, the rich would become poor,
the poor. fear would starVe. Saving Banks,
trust companies, insurance companies would
disappear. Such would be the mighty crash;
but here you see also the mighty resisting
power. r.-Therefore again do l say, repudi-
alton is impossible.
Mr.. Boutwell, is criticised by Democracy
because he buys up bonds, paying the cur
rent market rates, when he should pay the
face in greenbacks. Very well. Suppose
the Secretary, yielding to these wise sug-
gestions, should announce his purpose TO
take up the first ten millions of five-twent-
les, paying the face in greenbacks. What
then2 %After Us the deluge, said the French
king; and so, after such notice from our
Secretary, would our deluge come AtOnce
the entire bonded debt would be reduced to
greenbacks. The greenbacks would not be
raised; the bond would be drawn down. On
the purchase of ten millions the notion
would seem 10 save two millions; but the
boHdholders would lose the difference be-
tween present rates aud par, being twenty
per cent, on sixteen hundred millions,
which would be three hundred and twenty
millions. All this at once. But who can
measure the consequences? Bonds would be
thrown upon the market. From all points
Of the compass, at home and abroad, they
would come. Business would be disorgan-
lied. The fountains of the great deep would
be broken up and the deluge would be upon
u.s."
The spirit and practical policy of the
Massachusetts, statesman is well indicated
in the following extract
1t only remains that we should do all that
we can 70 preserve the public faith. For
myself see nothing more practical at this
moment than, first at all points to oppose
the Democracy, and secondly, to insist that
yet while longer ex-rebel shall be excused
from copartnership in government, will not
be out done by anybody in clemency, nor
at the proper time will be behind any one
in opening all doors of office and trust. But
this time has not yet come. There must be |
security for the future, unquestionable and |
ample, before / am ready, and this l would |
require not.Only for the sake Of the national
freedman and the national creditor, but for |
the sake of the ex-rebel himself, whose high
est interest is in that peace where all con-
troversy shall be extinguished forever.
The ancient historian declares that the |
ancestors of Rome, the most religious of
men, took nothing from vanquished but the |
license to do wrong-DlgjOres HOS5ri nitI Uict- |
is eripiebdnt prosSter ir!jairO3 lieencidm. These
are the words of Sallust. Permit me to say |
lhaG know no DeGter example Tor our guild /
anee.-whO can complain if men recently |
arrayed against their country are told to |
sand aside until all are secured 10 their
right?
Even in the uncertainty of the future it is
easy to see that the national freedman and |
the national creditor have a common for
tune. In the terrible furnace of war they |
were joined together, nor can they be separ-
ated SO long as the rights of the Two are in
question. Therefore, could my voice reach /
them. would say, Freedman, stand by the
creditor; creditor stand by the freedman"
And to the people 1 would say, "Stand by |
both" m ~
Let every Republican. we'll wish
er of his country determine 10 do his whole
duty at the polls, on the 18th October to
sustain the credit and uphold the faith of the
nation.