New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-06-22

Iat
national and State politics. let him look at the danger
GUS elements comprising that party let MN consider
What they would p rGGap s 40 be iTedenta and saw
upon his OATH is 10 wise and polite yet TO turn over 10
the Democratic party the administration OF the aas OF
a great nation like ours.
THE POLICY OF THE REPUBLICAN PARTY.
When on the other hand, turn to the great polit-
ca organization TO which we belong we may ma shad
and clouds, but the general policy OF the Kepuo
lcan party has been elevating, manly and successful
Above all we have extended TO all our inhabitants LIB
erty and Equality before the courts and the law. IN
civil and political rights. Our policy mas strehgtnened
the power OF the nation without s sac na,in
all inure to the benefit Of the individual citizen, Tor me
sole object OF 1t all i to na o @s 40 have
strong Government, whose delreachng hands
sa at ,b ana protect 'ns state to educate
and foster to protect and ENCOURAGE to punish and re-
Union as George Washington described in his Farewell
Address with nothing to threaten but the decayng
to assure any one that we will stand by and enforce
the xIITth, XVIII, aud XVIII Amendments We
while supported by the people will enforce them That
we have been liberal to Toes Is shown oy te
no blood was shed for political offences No 9roperI1y hs
are now protected in the secure enjoyment u
large estates and show their raut aus,,i ICf
murdereTs and outlaws to the murder scourgng Of
poor negroes and preachers and teachers We conferred
rights they had before the except only that we for
babe for time the leading Rebels OF the South from
holding office. This the extent of punishment
have been disposed TO pardon even this, but after
recent Developments will not vote to relieve from any
disability such Davis and TOombs who are
totally incapable OF approaching generosity never
office, but 1 would, If their conduct would ever
allow. it, mike our treatment or them 80
generous and torgylng that history g. never ever
nature, could not be cruel aggressive. We nave so
many among us that they otter deaR or
the liberty of others aud for the union OF all and could
rights except as the public safety clearly demanded it. II
have erred il has been In undertaking the power OF
The Repubcan party has exceed the generosity OF the
Girondss and mas exhibited Of the fury Of their
(and the amendments are the most importantly
were aimed TO secure personal rights. Inc
are only to enable Congress to enforce these rights and
to give pardon to the Rebels. They talk about the bay
manded by organized resistance to fair elections and to
punish grimes Of the most re eS@t Of hae
ity. II they are not sufficient we viii give
them others. The difference is that they would enc9ur
will restrain their fellow attn OF the sS eta @ 9m
murder and organized frauds we VIII repea' 'neSe ""s
If not will pass more effective laws.
THE FINANCIAL QUESTION.
On questions Of finance we need no resoutionst TO snow
where we stand The whole existing system Of financial
legislation the work Of the Republican party during
the war We driven by necessities to provide
currency; we gave You the greenbacks and the National
Rank notes. The greenbacks a forced loan. We
did the beginning intend TO exceed in amount the
sum We could maintain at specie stand, but our
them to dangerous extent, but we supported tnelr
credit by the legaltender clause anu by the reh 70
the war sought to improve their credit to bring them
During the two wears of this Administration we have
raised their value from 50 cents on the dollar 10 ~ cents
on the dollar and this without contraction, distress,
panic or financial revulslon. left alone we will In two
years bring them to the standard Of gold We had
two dangers to avoid first an increase ana consequent
depreciation of these notes. and second, 100 sudden
contraction of currency and the neytabe distress anu
resumed specie payments by redeemlng poIu69h t6 Ul
standard of value and increased the burden OF debt We
have avoided these extremes. We have maintained In
er the yane by the natural growth Of
conndence in our policy The Democratic party threaten
to subver this policy in Ohio. They would increase the
| force abruptly specie payments Disagreeing among
themselves they agree 10 subver wise policy, and
of paying the bonds in green6acKs Our policy viii
make greenbacks and gold the common standard ne
ceeds in the future as in the past, our
of recovering from the vast expenditures of war with
out dscredt without dishonor, and without single
I ea P' mn Tey with his
fate, but surely our nation should be satlsned win Jus
financial prosperity under the greatest difficulties ever
overcome by people
THE BANKING SYSTEM
As to our banking SYSTEM IT but the choice OF ex
pedence, and it was happy choice. II subverted an
ncOnguous hodgepodge Of state banks, founded upon
the laws Of 81 different States without security without
uniform value of local circulation, and
| endangered by swarm Of counterfeits
These state banks spawn Of the extreme doctrine
should he bankotes They are the blood Of the system
and should flow freely through the system central
| gerous from its utility and power 1t was managed
| by few who were encouraged TO use their
only in their security, FORM and circulation They can
not combine. When carefully supervised and regulated
| nv lazy nd well fed
nient financial agents of the people. In comparison
with the old state bank; they are preferable svs
about the national banks is whether notes issued directly
hy the Government and redeemable by the Government
may not supercede the necessity Of bank notes. This
would 10 the people the interest on the circulating
the Goverment, and the GoSeTnmenf should share in
the profit But on the contrary the general neral
with other functions OF bank The operation
OF loaning and redeemng notes cannot safely be per
formed by Government agents IL must BE done by
private persons personally interested. Government
banks could not be properly distributed Even offices OF
redemption subject 10 many dangers. without going
into details upon this subject we can safely follow all
like other business TO the free and interested agency of
private citizens The functions OF the Government Is
notehOlder when prints the bank note the best
devices and then leaves to private parties, without
favor the circulation and the redemption OF the notes
This is the basis of our present system, and
the United States shares in the profit by an annual tax
OF nine Millions and tue States and municipal corpora
tons in another tax OF nine millions, While the people
enjoy local facilities unquesOned security, freedom
from commercials and the UNIFORM credit ana Value OF
the note in every part OF widely country
With this admirable system, for one am not disposed 10
interfere except to such defects may appear In
| its practical workings.
ICOSCERNIEG TAXES.
The policy of the Republican party in levyiDg taxes is
also shown by what have done during the war. IL
| was money that wanted and from all sources and
quarters fighting for national life and we took
where we could take easiest and the people sustained
IN il. But from the close OF the 10 this hour we
| have been reducing taxes. Each Congress has
relieved the people from taxes. Most Of our
internal taxes levied during the are now repealed.