The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1870-03-08

treated mere With reference TO ID e Gu-
al condition OF things than with refer
ence to any theory. Experience from
year to year demonstrates the necessity
for reform, and points out that on some
articles, the duty is too high, amounting
almost to prohibition, and cutting off
that Just competition which should ex
ist between our own aud the manufac-
lures of foreign countries; that on 9TH
ers it is too f0v, and might be increased
with advantage 10 the revenue and to
our own producers that upon some ar
| ticles of prime necessity, we do not and
can not produce, it is much too high,
and should be reduced in the interest of
the great mass Of consumers 1t is the
| business and duty Of Congress to ad
dress itself to the work Of reform, and
| to make such changes, from time to
F.; time, as experience and reason shalt
/ show to be practicable and pro. .,er. We
are dealing with the actual situation and
with stern array, of obstinate facts,
! and can not consent, on the one hand,
| in pursuit of theory, to burden the coun
try with enormous duties, or, on the
other, to strike down great existing in
terests in Difference to plausible schemes
of political economists.
The whole platform to which L have
referred is a dismal rehash of miserable
negations and Democratic common
places, and furnishes conclusive evil
dencc that the party has no definite pol>
icy upon any subject3or remedy for any
real or pretended evil. It has nothing
to offer but opposition, empty profes
sion of devotion to the Constitution. and
preposterous suggestions of returning to
the condition of former times. It can
not restore slavery, neither give it up.
1t can not undue the results Of the war,
nor yet accept them. 1t can not graple
with the questions of the day, but like
the deposed Bourbons who wander
about Europe. is strong only in its hate
and the tenacity with which it clings to
the policy and mem ories of the past. l
challenge an examination Of its plat
forms In the several States, of the
speeches OF its politicians in Congress,
Of the columns of its leading ncwspa-
pers. to find any suggestions of policy
or remedy upon any question whatever,
beyond that of sullen opposition, de-
struction of what has baen done, and
proposals Of impossible return to the
conditions of the past
/ NATIONAL FINANCES.
Mr. Voorhees, one of tn, most elo-
quent men in the Democratic party, re-
Gently made a speech in the House of
Representatives, which was evidently
intended for a campaign document, in
which he discussed the financial question
at great length. His argument may be
thus summed up and stated:
| First He entered into minute cal
culatiol in figures to show that of our
Public Debt. 81 $50, ,53s $50 we're with-
out consideration, fraudulent, and
should not be paid.
Second That of the whole amount,
only SI,37I ,424,71S were fair aud hon
est and should be paid. These two
sums, added together, make the aygre
gate of the debt 1913, ,246,731 greater
than il is; bat we will let small error
like this pass.
THIRD H argues that if the public
creditor insisted upon the payment of
the first sum, which is fraudulent. the
people would be exonerated and re-
leased from the payment Of the sum,
which he admits is just and honest
! Fourth Fl admits his willingness to
pay the whole sum if it is paid in new
/ greenbacks to be issued for that pur-
pose.
Fifth BY logic rs incomrrehensi-
BILE as all tbs rest, he would coufine the
new issue Of greenbacks to 100000,
| 900, which would come far shor5 of pay
/ ing the part which he aimiss to be
just.
/ But Mr.. Voorhees, ideas in regard to
the currency have suffered eat con
traction since he made his speech in
this place in January, to tue Democratic
Convention. In that speech he advo-
Gated a new issue of 81, 800, 900 Of
greenbacks to pay 81. 500, 900 Of
ive>twenty bonds, which added to the
100000, 900 Of currency now afoat,
would bring it up to 50, 200, 900 900. /
quote from his speech as reported in the
Sentinel:
81 am som etimes charged with being
good at tearing down the plans of 9th
ers Bear with me a few moments lon
ger. We have now outstanding s $50
O0O, 900 of fiye-twenty bonds, payable
at the end of five Or twenty years from
the time when issued. The five years
have about expired. They are to be
paid at any time within the next fifteen
years. My plan is to draw in sl00, 900
900 this year, 100000 900 next year,
and, as it were, sprinkle it all over the
next fifteen years, issuing currency to
redeem it, thus paying the bon led debt
in better money than it was bought
with.
The difficulties of Mr.. Voorhees, po-
sition IAN not be exaggerated, but are
those of his party, which has no status
upon the financial question Whatever,
} but catches at every failacy and paradox
that seems TO present the prospect of
getting few votes. The absurdity of
proposing TO pay off the national debt.
not by taxation, not by collecting mon,
ey in the usual and honest way, but by
issuing new currency which is never to
) be redeemed, but to be left to peris b
in the hands of the people, would be ri
diculous were it not gravely put forth
by distinguished politicians in the des-
perate pursuit of power, 1t is quite as
if you should propose to pay all your