New Orleans Republican., 1872-08-08

u
JnIv. 1872. last month There was only |
SIO3. 900 900. What was gold worth then ! |
About Il4 to lis. Now, can Mr.. Boutwell, |
and the Grant Republicans insist that they |
are approaching specie payments at TINS |
rate They are as near specie payments |
as they were in 1859, but they are not as
near specie payments as they were In 1860. |
Will we ever have specie payments by |
backward progress In lS70-two years |
agO-gold got down, think, to about ten |
to eleven cents. Now it is fourteen to tif- |
teen cents premium. How long will It take
to get to specie payments at that rate! Now
this whole policy of boarding up money IN
the treasury of the United States IS not
only a bad policy financially, because you
lose the interest upon 1t, but we nave nad
more than a hundred million OF dol
lars lying idle ever since Cen
eral Grant was elected President
WHY was it kept there A small sum
should be kept; a margin of half mil
liousof dollars undoubtedly should be kept
on hand in, the treasury. But the average
has been over a hundred millions OF dollars
Now, can you tell me why that money was
not taken out Of the treasury, and so much
of the debt paid of, or used in some other
way so as to stop the interest on this money
for the last three years? In that time the
interest would have amounted to Slo,OOO,-
000 What is the benefit OF boarding up
this money and then claiming credit Tor It
1t ia a bad policy for the finances OF the
nation and the liberties of the people, IL
is dangerous, my friends, to your hoeftles
to.have that amount OF money IN the hanos
of anv man In this country 1t is part OF
the Lords PRAYER, "Lead us not into
temptation;1 and it is a great temptation to
the men who have control of this money. !
do not know that this money IS being used
in this election. / do not suppose they
used any of the principal, but We are not
getting any interest on II. Would not
some Of you be willing to pay interest II
thew would put few millions of it into
your hands for. the next six months
Would you be willing to pay part OF the IN
terese and 60 with Grant Republicans and
help carry the election if they would let
you keep the rest of the interest.
[Laughter.l ...
Now | don't know that they do that. l
don't say that they do that. But there Is
a good deal of money being used in this
election. Where it comes from do not
know: but it is the easiest thing in the
world, as you may all see. The secretary
of the Treasury has got hundred million
of dollars living idle. That is enough to
carry on the government for the next six
months. Then he need not call In these
collections to use them. He may say to
tbis national bank, if he has one friendly
to the election. of President Grant, Will
direct the collector in your district to make
his deposits with your bank. He has the
right to do that by law, II shall not want
| flat money, won't call for it for the next
/ six months. Your bank will loan 1t out to
your farmers at ten per cent if you want
| it." After having this understanding, the
| officers of the bank being good Grant men,
! and feeling pretty well over having
| the use of a million, or million ana
! a half of dollars, for six months, they
! will feel pretty liberal, and contribute
| freely to the committees that want money
| TO helm carry the election. In that way 1t
| is in the power of the administration to use
| $50, ,OOO, 900 for the next six months. May be
| tbey don't do it. believe Secretary Robe
son would not. Laughter.] Mr.. Creswell
would not. Renewed laughter.I Mr. Casey,
collector at New Orleans, would not;
! more laughter. 1t is very likely he would
! not use it. But this Mr.. Casey, collector
| of the port of New Orleans, undertook to
! break mn the Legislature of the State of
| louisiana He actually got enough of the
| Senate of the State of Louisiana to secret
themselves in the CustOmhOuse, so they
| could not get a quorum to do business.
! The government of the United States,
! through one of its officers, breaking up the
Legislature of a State! DoyUu justify that!
But he did little worse than that lie
|
heIped to raise $4,000 for the purpose OF
bribing the members Of the Legislature OF
Louisiana to pass bill in which he was
interested. This was brought to the notice
of the President, but he keeps Mr.. Casey
| still Now | would rather not risk Mr..
Casey with the millions OF. money he Will
| collect at New Orleans fer the next SIX
months. l had just as soon that money
should be applied to the payment OF
our debts. A man who would contribute
money to bribe a Legislature probably
would keep that money safely. don't
know but he would ELaughter. What
do you think about keeping a man in office
thai attempts to break up Legislature
He actually took the Senators, and after he
had kept them few days, he placed them
on board vessel of the United States, out
of the jurisdiction of the sergeant-at-arms
and at your expense. Has he been rebuked
for it? The only rebuke he has had tc
suffer is to be kept there still, which Is re
| ally an Endorsement of his conduct.
| 1t is said this administration has reduced
| the public debt, and that it is entitled to Q
| good deal of credit for that. What sort OF
credit is General Grant entitled to for re
ducing the public debt? He has paid Nc
| more than his own taxes, II he has palO
that. You have paid the taxes.
Now, some of our friends are very mucl
alarmed lest Greeley should be elected
President, and that when he is elected
President he will go for the payment Of the
rebel debt; that he will 90 in. for paying
Densions to rebel soldiers. II can't vote
for Greeley, because these Democrats viii
vote for him, and he will go in for paying
the rebel debt and pensions to the soldiers
and widows of the COnfederacy." They
might Just as well say anything else as t
say that In the first place, the fourteenth
amendment to the constitution of the
United States says that neither the
i United States, nor any State, shall assume
OF nav any debt, or obligation incurred il
aid of insurrectiOn or rebellion against thu
United States, or any claim for the loss o.
emancipation of any slave" So you SCI
they will have to change the constitution o
the United States before they can pay the
rebel debt If any of you Republicans ar,
simple enough to believe that three fOurthl
of the people Of the United States-in tB'
first place two-thirds of each House of Con
press. and then three-fOurths of the States
will be so anxious to pay the debt 0
their enemies besides paying their OWL
debts, as to change the constitution of tn
United States, think you are past pray
ing for, and you may just as well 90 ant
/, vote for Grant and be done with it. Laugh
ter. You are joined to your idols, and "
may as well let you alone. / would as sOOl
, undertake to satisfy man suffering from
, delirium tremens, when he fancied he wa
+ seeing hobgoblins all around him, as to un
dertake to satisfy such Republican a
, that that we were not going to pay tn
, rebel debt. One would be about as reason
! able as the other. What right have we t
vote the money of the people to pay pen
, siOns to the soldiers of our enemies Yo
might just as well say we would vote t
; pay the soldiers of Germany or France
| ard q good denl hotter. for they did no