The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-10-11

| thousand
! TWO thousand millions OF dollars. To-day we are
| forty millions strong; we have an accumulated
wealth IN this country of not less than fifty thou
! Mr. Jefterson's eight years OF oihce the public
dent was reduced from eighty-three to hftyseyen
! millions-a reduction of twentysiX million Of dol
! lars in period of eight yeals-a service for which
ne @ received and for which he deserved the thanks
! OF thlS. country. Assuming the property of the
country now at fifty thousand millions of dollars,
ana and the property OF the country at the commence;
! dollars, and the debt of to-day is much less than
! the debtor lSOL (Applause) Consider, also, that
,ne caPaclty Oh the people TO opay the DEBT is I'M
! saving machinery The productive power Of one
man man, N this country for the purpose of creating
! uuctlVe power of man at the commencement OF
this century. Consider, also that the wages of
tions OF wealth are at least four times great in
this year as they were at the commencement of
and the public debt to-day dwarfs in comparison
with the public debt which was assumed by the
into the supreme majesty Of the nation. Cap
How TO Redeem the Debt.
Our capacity for paying tue debt which remains
may be measured and estimated by considering
what we have done. If none of the public debt
had been paid from 1868 to the present time the
funded debt of the country would not have been
less than three thousand two hundred millions
OF dollars, n addition to the three hundred and
hlty.SiX millions OF United States notes in cir
culation. But by the system of taxation which
has eXsted-which has, at times, undoubt-
!
has been reduced several hundred millions of
dollars. And if, in these six years, exhausted
pay twenty-five or thirty-tnee per cent. of the
pUbHc dept are we to hesitate now, with q
PLoRuitH,tIon constantly ,augmenting and with
paCity OF the people to produce wealth accelerated
IN great degree, are we to hesitate as to what
our course Is TO be for the next few years? Ii
were to pay hundred millions of dollars year
which we can pay if the present system of taxa
lion be permitted to remain, the public debt will
be eNtnguished in less than fourteen years. Cap
plause) If we pay nifty millions year. which we
can pay, and annually reduce taxation, the in
terest bearing public debt will be eXtinguished in
about twenty-five years And if we pay but twenty
S S v mohS % r year and dSe reduce ia, aN2t3n as
bearing debt will be eXtnguishcd in about
thilty-two years, (Applause.( The astonishment,
there should be any question, in this country,
among any class of people, as to what the policy
question
a Lower Rate of Interest.
But come, gentlemen, to call your attention to
feature OF the controversy in which your are init
mately concerned and that is is-We are now
paying on the larger part of this debt six per cent.
interest The events of the last six or seven
months. demonstrating the ability and the dsposi-
tio, "t the people OF this country to pay its debt,
has rendered It. not only rroDaDle, Dug, IN my Opn-
of tbis Sbt as we desire to EeGnHd at rate of in
terest not cXceedmgiour and &-lalI per Ceit, zap,
pause) titus saving to the country 4Iq n topt 10 tLe
people who pay the taxes, from eighu~- " Vnoii.yi
five millions a year. And that is the pracIlc.,i
question involved in this election: and it is pre-
Cisely that point which desire to impress upon
Won as II is the consideration which induced me to
come here
The credit of this nation is due to the disposition
and the ability Of the people to respond to all the
obligations that have been assumed, The world
the extent of 0ur territnry: the salubrfy and va
riety of our climate the fertility of our soi the
unceaSing capacity OF our mines TO contribute to
can never doubf as to nnr aIilitv TO nav orr debts
IT, then, your credit IN te markets OF the world IS
n9red with the credit Of The most favored nation
upon the globe. that depreciation is due to the
want of faith in your disposion to pay your debts
And inst in pro6ortion as Vou furnish evidence of
your indisposition to nav y0ur debts. lust exactly
in that proportion will the depreciation of your
consideration of this dnestiOn here and Tonight
II is for the people of Pennsylvania and of Ohio
and of the Union, to say whether, by yOur votes
Won will indicate to tile world that there is no
doubt about your dispOstion to pay these debts
EnniauseG
these are the practica considerations to be pre-
saItrd tN nrgciiraI men If Won intend TO repudate
these debts then saw So and follow this by the
mower which Won have TO ret rid of the interest
5nd nrincinai together If YOU do not intend to re.
niiGiate them r6en vour dufv as we'll as y6nr inte
rest is to decIaTe uHitedIv and with em6baSiS the
dpht is f0 he Maid Create coincidence in the world
that Won are ready and willing to assume all your
obligations and lave The ADVANTAGE of the reduced
rate Of Interest prOvinr ont of the increased conf
dencp of fine world i'm VOur determination
IWfli snenj n few moments further gentlemen
to enforce this idea by showing you what has been
recently done Within the lastsix or seven months
we have maid ftvsiy miiliOns Of dollars of the Dub
lie debt ChppiauseI The credit is due TO the
country TIE President desired an economical
honest administration. He desired that honest
men should be appointed to places oil public trust
especiallV in tbe collection of the revenues When
we have inns Maid fftv-six millions of the public
Gebt since March, last are we i'm the nresence of
that fact to shrink from, what is before us9
or an the means calculated to iniure public Gre