The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1869-08-27

/
= Democracy that it is in the interest
New England to have a protectiy
duty on salt, sugar, coffee and tea
Die anybody ever before hear Of Ne
c England producing tea, coffee, suga
: and salt? Ard that in order to gro
tea and coffee, manufacture salt an
grow cane and make sugar NeE Eng
land must have a high protectil
duty On these articles, and tha
= thereby the West is suffering By thi
oppression on the part Of New Eng
land? Laughter. Now if anybod
will tell me what intelligent fnancie
drafted that resolution | will be glat
to make his acquaintance, and inquir
Of him in what part of New England
those products are raised. Renewed
laughter. None of the financier
who managed the tax bills and appro
priation bills of the Ohio Legislature
last winter, could have been the au
thor.
Fellow citizens, when the great nee
essity for large revenue is lessened il
will be time enough to discuss the
abolition of protective duties There
are many particulars, doubtless, 10
which changes are needed in our
custom laWs-some duties that are
excessive and unwise-but the mean
ing of this resolution is past all com
prehension.
THE HOMESTEAD LAW.
( Let me call your attention to a
eIause in the fourth resolution with
reference to the hours of labor of the
working man, and to that other clause
thrown in about public lands to actu-
al settlers-the homestead doctrine.
Has the Democracy forgotten that
from 1850 to 1860 the Republican
party was fighting for the homestead
law, and was always voted down by
the Democratic party.
Have they forgotten that in 1860
the Republican party passed a home
stead law which was vetoed BY James
Buchanan, but was not strong enough
to pass it over his veto ? Have they
forgotten that it was not until we had
a Republican President that such a
law was passed, in spite of the almost
solid vote of the Democratic members?
Have they forgotten that we created
homestead policy, under which
homes are springing up all over the
territories of the West? And now,
seven years after the thing is done, the
Democratic party of Ohio gets a reso-
luton in their platform, declaring
that they are in favor of using the
public lands for free homes for the
people. Laughter. Well, I am
not sorry to see the Democratic par
ty Cor once right. Renewed laugh
ter. The nearer they are right the
better it is-for the country, and con-
gratulate them that they have an
nounced their conversion to this Re
publican doctrine Of the homestead
law.
TIE LAB0RING CLASSES.
For the labOring man they feel a
yearning they have never felt before. |
The Democratic party is now yearn-
ing over the interests of the laboring
man. How was it when the laboring |
men were termed the "mud sills of So
ciety;" )" when they were called the
'flthy operatives" and "greasy me-
chanics," the "hard -fsted farmers,
struggling to be genteel?" That was
the language of the Democracy only
twelve years ago. And now that the
Republican party has been taking the
working man by the hand, and doing
for him, in spite of the Democratic
party, whatever has been done for him
BY legislation, now, in 1869, the Dem
ocratic party is in favor of the rishto
If the working man-just now, when
hey want his vote, Laughter and
applause.
NATIONAL BANKS.
But there is another doctrine here.
% which desire to call your atten-
ion. [ will read the resolution en-
ire. 1t is this:
"Resolved, That we denounee the
Banking system as one of
he worst outgrowths of the bonded
iebt, which unnecessarily increases
he burden of the people thirty mill
ions Of dollars annually, and that we
lemand its immediate repeal.''
Fellow citizens, 1 don't know of
my time or place in the campaign
Vhen it is safer to make dry speech
han now and here, laughter nor
my better opportunity than when an
Intelligent audience like this is COM
ortably seated, and can bear more
han when they are wearied bya long
iampaign. II
As chairman Of the Committee on
Banking and Currency, in the House i
# Representatives, il has been my
luty to consider the condition of the |
National Banks, and compare them {
With the system of banking that pre- I
eded them, and l ask your indul- :
,enee while [ call attention to what '
t is that the Democratic party pro- i
,ose to have Immediately repealed.
The National Banking system was t
established by the Thirty-seventh s
in 1868, and has been in |
'peration a little more than five years. /
IN the Oath of May, 1864, there were !
n the United States and Territories /
.,6l7 National Banks in operation, I
laving a capital of s42O, 900, 900, and !
circulation of 1922, ,2O2, ,598 Nation {
i Bank notes; and S2,615,387 Of
state bank notes still outstanding. {
Whether these institutions should be !
or not, depends upon the !
oundness, safety, uniformity of j
alue of their notes, and the securi- {
Thich the people have against depre- '
iation and failure.
Their security. {
The prompt redemption of notes is t
ecured as follows: 4
First, By s338,OOO,OOO United /
tates bonds (ten per cent. more than 5
he whole circulation), deposited by
be banks in the vaults of the Treas {
ry at Washington. i
Second, By first and paramount t
len on all the assets of the Bank. I
Third, By the personal liability Of
II the share holders to an amount S
quail to the capital. I
Fourth, By the absolute guaranty 7
{ the government to redeem at the t
IatiOnal Treasury, if the Bank fails !
0 do so. t
TIE efficiency aud safety of these I