Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1869-10-28
The national Finances.

KNOXVILLE, OCTOBER ~, lS00.
The National Finances.
lExtracts from the n. Y. Tribune.
report of Sec'y Boutwell's Speech In
Philadelphia on the 9th inst.l
PRESIDENT GRANT.
There IL another consideration that
has somewhat of personal charac-
ter, and that ia whether the Chief
Magistrate of this Republic, a man
called by the exigency Of the strug-
gle for national existence from com
parative retirement to the command
ofan army OF million Of men, whose
conduct ne guided with consummate
skill to successful issue, on the res
toration Of the Government shall be
Endorsed and justified by the people
whom he has served so well.
This occasion is not personal to the
President Of the United States; but l
may say here, what gentlemen upon
this platform would gladly indnrse,
that in the long years Of this nations
life no man has been called to the
Chief Magistracy who brought lar
ger share Of patriotism or nnselfish
devotion to public duties or capacit:
equal to any emergency either in
war or in peace. "
PUBLIC DEBT.
It ia not so much a question wheth.
or the public debt should be paid, az
it Is whether 10000, 900 people have
the conscience and sentiment Ofright
so imbued in them that they will do
right even though it may be at their
own peril. / doubt not that there
are differences Of opinion in the
country as to whether the pubiicdebt
should be paid exactly in the man.
ner contemplated by the Admins
tratiOn, by the men whom they have
intrusted with power; but may say
here, i'm one single sentence, winch
compreIlends, rs / understand, the
entire policy Of the Administration
in regard TO the public debt, that it
is to be paid, principal and Interest
(applause, according to the terms OF
the contract, ard in coin, or that
which men will receive as the equiv
alent Of coin. Applause And
this not so much Though that indeed
would be sufficiently because men
have intrusted their property to this
country upon a pledge given, but
because to do otherwise would devel-,i
op In ~, O00,O 900 people such di-re-
gard Of right and the principles which
underlie individual and public pros
perity as to render them the scorn Of
the nations through all ages. 1t is
not that plead for men who lIave
taken your promise; they have their
rights; bu. it is because you would
prove yourselves base and unworthy
OF the character of American citizens
II YOU should hesitate to do what
sou have promised to, do. am
aware that there are those who go
into an inquiry as to whether the
public creditors shall receive dollar
for dollar, equal to the amount Of the
obligations; there are those whom
stitHte Tire inquiry ms 10 whether the
interest already paid is not sufficient
to satisfy the public obligation and
justify us in compelling bondholders
to produce tn. evidence of the obi
CATION; and there are those who have
still other plans. Well, my fellow
citizens, all these are schemes and
decisions. There is butsone way out
Of the difficulty, if you please tn call
It a difiiculty-yet ii is not a very
great difficulty but one way, and
that is the way which the honest
merchant pursues: that il to meet his
obligations manfuIly, and fulfil them
to the last cent If he has it. APP
plause.l Some have suggested to US
that we ought to pay these obliga-
tions in other promises not bearing
interest-greenbacks, United States
Treasury notes. Well, the first an
swer to that is, gentlemen, do you
propose to pay the Treasury notes or
greenbacks that you issue in payment
OF the bonds? 1fso, in what: Ger
tainly In nothing but coin. The
substitution of ono promise 10 pay
oranother promise to pay IL not a
liquidation of the obligation. And
have they considered also how det-
rimental this policy is, as every
wrong policy always must be detri-
mental, even to those who advocate
and maintain it? Have they consid-
cred that the whole banking system
OF the country Is based upon these
promises Of the Government OF the
United States? Have they consid-
cred that the savings Institutions are
filled with these obligations Of the
national government, and that when
you invaiidate or repudiate these OBJ
legations II h not the wealthy men
aiunc who suffer? Tho evil extends
to every laborcr and to every hearth
A. VI.