The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-09-29
POLITICAL.
THE FIGHT AMONG THE NEW
YORK RADICALS.
A ROW IN THE STATE CONVEN-
TION,
NEW YORK CITY DELEGATES
WITHDRAW.
BOUTWELL, AT CINCINNATI.

committee held meeting ut 9 O'Clock this
morning, which was largely attended.
Chairman Sinclair, Toursey, Thomas +.
Stewart and Ira o. Miller, expressed their
dissatisfaction with the manner in which
certain delegates were treated by the con-
vcntion.
Thomas \. Stewart, who was loud
ly applauded, said the New York delega-
ton had not Withdrawn unadvisedly, and
would never 60 back. The present fool.
ing with the delegation WAS one of the
wickedest and basest frauds ever devised
by any senator or any other man.
An allusion to the Massachusetts con-
venton brought out the remark from
| Toursey that the members and senators
Of that state didn't go on the floor of that
convention as whippers-in.
A delegate from Tomkins county said
the delegation Of that county, though it
sympathized with the committee could not
leave the convention.
Miller sail, "let us come out distinctly,
not only against Tammany hall corrup-
tion, but against the shoddy oppression in
our own ranks" An adjournment was had
till eleven o'clock. The feeling is very
bitter.
BOUTWELL, AT CINCINNATI.
CIScINsATI, Sept. 2S.- Hon. Geo ;.
Boutwell,, secretary of the treasury, ad-
dressed very large republican meeting
at Mozart hall, this evening. Ex.Secre-
tary Cox was present.
Mr.. Boutwell,, on being introduced,
traced briefly tie connection Of the repub-
lican party with the successful prusecu-
tion Of the war for the suppression of the
rebellion its fitness to take care OF the
results Of the same, and the unreasonable
ness Of expecting from the demo cratic
party an approval OF the emancipation
or measures needed TO secure to the
emancipated their rights, or expecting its
concurrence with reference to the credit
Of the country or the payment of the debt
incurred in suppressing the rebellion.
He believed If the democratic party were
advanced 10 power or If the old school or
new prevailed, the laws for enforcing the
amendments would be repealed, and all
further efficient legislation denied lie
stated the democratic policy in these
propositions:
lst. 1t does not accept the constitutional
amendments as right in themselves, al
though, as we affirm, they are the only
guaranty 70. the principles on which the
war was prosecuted, and the only security
for the rights of the 100000 human be-
ings emancipated.
I'd. 1t proposed TO annul the banking
system and to form tariff system, and
this without regard to their effect upon
the business and prosperity Of the country.
Sd. 1t challenges the financial policy Of
the government and seeks to substitute its
own will for the plighted fuith of the
nation.
He spoke tonight specially on the third
proposition and on the twelfth resolution
of the democratic state convention. He
then proceeded to inquire into the financial
history Of the country
Tracing the reduction of both debt and
interest during Mr.. Johnson's admistra-
tion, March ], 1869, showed a decrease
during two years of $50, 363, $3.50.
He said he need not comment upon
causes which prevented further reduo-
tion of the debt during the period named
During the preceding year and can
vass numerous propositions were named
for the payment of the public debt in
greenbacks, but no satisfactory plan was
devised for payment in grecnbacks them
selves.
They were all substantially rejected by
the election of Grant, whose explicit
declarations in his inaugural terminated
for the time all propositions fer payment
Of the debt in anything but coin.
The declaration of the president with
an act OF congrcss-the first passed after
his Inauguration, by which congress and |
the country were pledged TO the payment
OF the iive'twenty bond: in coin, and to the |
resumption of specie payment AT the carl-
est practicable time-formed the basis of |
the financial policy Of the government |
from that day to this, This was the re-
lection OF all avoidance or repud iatpn of |
the public debt. 1t was an accepted fact
that the debt could only be paid by taxa
tion, and The taxes must come from the re-
sources OF the people. In carrying ont this
policy the first act of the treasury de.
partment was to provide tor an
efficient collection of revenues, which,
during the first year increased from Gus
toms, $l4,000,000, and from internal sour
ces, $27O00O0O; while government ex-
penses including premiums on bonds and
payment on tho principal of the
public debt, were reduced $35,Oo0,0OO. In
December, 1864, Congress was enabled to
reduce internal taxes nearly sixty millions
of dollars and to diminish import taxes
nearly $2b, ,000, 00O, or about $50, ,000,00 in
ALL The net debt on the first of Septem-
Der, 1871, including the accrued interest,
was $2,274, l22, 56O.sS, showing decrease
since March lst, 1869, of $26l, ,340, ,699G3,
In the same period tho annual interest
account was reduced from l26 millions
1850 dollars to 3,439,385 dollars aud
30 cents, or about one million and n quar-
tor per month. Such reduction, if treated
As a sinking fund, would, be claimed, pay
he debt, exclusive of u. S. notes and
currency. Under the same in
auence the paper currency of tho country
had advanced since March |, 1869, from
rs cents to about 81 cents. How could
IL be said these changes Injured exclusively
to stockholders for the Indebtedness of the
nation had not been increased by i'm
provemant in its credit and the additions
thus made to the valuo Of the outstanding
bonds but it remains precisely the same
except on the theory maintained BY tho
opponents of The republican policy, that