The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1871-07-20

fy-pages 2Iz and 3 shows the hrst nScal
year of President Grants Administration,
the taxes collected .-
Amounted
While for The previous year they only
amounted SSS'l'ooIi
Increase during Grants first year...S 4O, ,4ss ssl
The foregoing figures include the customs,
Internal revenue, and direct taxes. Then,
instead of there being a decrease of one
hundred millions year, there was an ac-
tual increase of more than forty millions
of taxes during the first year of President
Grants Administration. and the amount
collected the current year can only be
known after the close of this Rlapth.
But these are not the only errors as 10
facts. This same resolution declares that
during the present Administration, $3.50,
000, 900 of the national debt have been
paid of. This, my friends, is the ear
mark by which l identity this resolution
as the production Of Senator Sherman; in
| his speech he uses the same Identical fg-
ures. Were they correct, they might be
used by a dozen persons as we'll as by one,
but not being so, it is improbable that two
persons should commit the same error in
fgures. Citizens, hold in my hand the
statement of the public debt published by
Secretary Boutwell, on June lst, 1871, and
1t shows that the amount of the debt paid
during the Administration of President
Grant is only $206, ,637, ,355 principal and
interest. But it also shows that instead
of paying the bondholder dollar for dollar
with interest that he has been paid twenty
five and one-haf millions more than was
his due. In fact, on less than $207 900, :
900, the bendholder was paid more than
| $232, 900, ,000-the excess being premium
/ L L. IL. Il ~
par.
/ Republicans, appeal to you-is there
not settled purpose on the part of the
men in power to Conceal from you the true
condition Of our public affairs If you
| have doubts, give me your attention q
moment further. This is the speech made
by Senator Sherman Immediately after the
adjournment of the oficeholders' Conven-
1 ton. He says I'VE have paid Of sineG
the war nearly five hundred millions o.
| the funded debt. Now, citizens, on page
! 276. of the Registers report, find these
| figures:
In 1854 the funded debt Ras-.-.-..S s. 6s2y y5s3 OF
The statement OF Secretary Boutwell,
shows that on June LIST, 1871 the
| principal and interest Of the public
debt amounted z0l I1o -
Debt reduced since the War.-.......ss sss4. .s52. 81
From which it appears that the Senator
has made the small mistake of two hun
dred millions So much, therefore, for th'
figures of Senator Sherman, and theresa
lutions of the oficeholders' Convention.
b5-t THE CURRENCY. s-r's-
In his speech, Senator Sherman says
That if United States notes were issuet
directly by the Government and substitnt
ed for bank notes, sit would save the peo
pie the interest on the circulating notes
of the banks. Their credit, he says, "de
pends mainly on the security of the GOV
a ernment, and the Government should shar
in the profits" The Senator fairly com
mits himself IN favor of abolishing th
banks, and the issue of greenbacls. Wa
that to please the business interests of th
4 State2 "So far so good. But as the Sen
ator had uttered words ofhope to the peo-
|, pfc. to maintain his consistsncy as a states
man, in speaking of the banks lie pro
ceeded 10 say. With this admirable sys
TEN, 1 for one am not disposed to inter
fere,'' That is, he is not only AGAINST th
i banks but in their favor; not only IN favo
of the issue of greenbacks, but is oppose
} to such a currency; not only IN favor {
saving the people the interest on the bond
deposited by the banks as security, but
r lis also in favor still of requiring the peo
| pie to pay that interest. On all publ
! questions the Senator seems to be like til
! offieebolders' candidate for Goverhor--h
: is 'fNo-74Yes' against and for eVerythiul
r He voted to give away the public land
, and for q resolution censuring himself f
having done SO. He is In favor Of tari
/ for revenue, but votes for protection. =
+ declaims In favor Of economy, and Votl
, for the most extravagant appropriation
r he calls himself Republican, and vote
!. to confer on an American President pow
/ ers unknown to the Constitution, and on
!. | euualled by those exercised by the moi
$ archs of Russia and Turkey; and he no
. proclsims his readiness to increase tho
= powers without limit
e'The Financial CONDITION of the eoui
try Is The Work of The Republican
n PATTY" F
n Senator Sherman says "On the subje
, of finance wa need no resolutions to shO
: where we stand The whole system
j financial legislation is the work Of the r
publican party" This is literally tru
= It is the fact that the financial condltis
l l of the country is the work of the Republ
y can party. A crushing debt, and an nj
: equal and burdensome system of taxatiS
:, are monuments of Republican misrule.
. Had the amount Of taxes annually co
lected during the war been equal to Il
: amount annually collected since the n
: storation Of peace, there would be no fes
= eral debt to-day, and our taKes would nj
= exceed seventy millions. y 5--.l
The system Of borrowing, and the ere
y ton Of paper currency without provil
Q ing a means for its redemption, caused
I, rapid depreciation, and more than doubl,
q the cost of the war by an imitation
y prices. When greenbacks fell to be worI
y only fifty cents on the dollar, it reQuirl
} two hundred dollars Of greezbseks to bI
4; one hundred dollars worth of supple.
e and when they fell to be worth only thirt
three cents on the dollar, 1t required thrI
hundred dollars worth Of greenbsclzs
n purchase one hundred dollars worth
of supplies and by-this policy of the Repul
g lican statesmen the cost of the war W
e first doubled, and then increased thre
= fold. Senator Sherman Is right when
't says, the financial condition of the count
ID is the work of the Republican party. {
"a THE WoRKINeMAN. AROUSED. iar
m The business men Of the country, t
y workingmen at length understand th
s their only hope of relief depends upon e
restoration of the Democracy to pow'
Of In New Hampshire the Union Of the wor
ls' ingnen and the Democracy secured t
election Of a Democratic Governor a
'e I,sgislature. and in Pennsylvania, Indian
e. Illinois and other States, they have stru
8 hands and are acting together. Why
W this? Because the money which is lock
n, up in bonds has been withdrawn ifrc
oe trade, and here as everywhere else bui
N ness languishes, and hundreds Of lebori
e. men are thrown out of employment. 7
Democracy when restored to power "
m correct this evll by paying of the s.
IN bonds in greonbacks, as rapidly as t
= necessities of trade call for MONEY!
rs this time onr circulation is three hHnaT