Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1872-07-18


law, but that all men by right are eQua
before the law. If bitterness once eX
listed, 1t has passed away. One act OF
justice only remains to be done. The
country waits for the evidence that yor
heartily and cheerfully accord the full
rights of citizens, under the constitution
of the United Statcs, to all within yom
borders. Give this evidence and tho
bloody chasm is closed.
Mr.. Boutwell, presented at length the
financial policy of Gen. Grants admins
tration, and claimed that none more than
the President will strive to make the
Union what it ought to be-a general
! government strong enough to maintain
its own existence against all enemies,
foreign or domestic strong enough to
protect the ri ghts of its citizens at home
and abroad; States with powers full,
. complete and sovereign over all local al
fairs, members of a Union indissolublc
and so attractive that no citizen shall
/ hereafter consider whether his duty to
his State or his country is supreme.
Mr. boutwell, said the financial policy
/ Of Grants administration was: First,
/ To secure the honest collection of the
/ public revenues Second, To reduce the
/ public expenditure. Third, To reduce
taXaticn and finally to prepare the way
for the resumption of specie payment at
the earliest moment, consistent with
the prosperity Of the country. He at
trihutcd much Of the fraud in the rev
cnuc to laXiIy of Johnston's administra-
ton, and his indisDOsition to enforce the
laws. In consequence OF the conflict
between Democratic President and a
Republican Senate, dishonest men were
I most successful in attaining office. as
they only could resort to such means as
would make themselves favorable to
both. Now, continued Mr. Boutwell,. if
you contemplate electing Mr.. Greeley
to the Presidency YOU must contemplate
the fact that the Senate, whatever may
I've the present opinion Of the country,
will be Republican for the next two
years. You must contemplate, there
fore, return of the state of things
which existed during Johnson's admin
iStration. You will secure the retention
of dishonest men in Office and the APP
pointment of dishonest men to office, ley
a pressure which do not admit Of con-
troll. The administration Of Gen. Grant
has given to the country the benefit Of
common purpose in all departments Of
Government. That common purpose
was the collection Of the revenues, and
this result has been secured
Mr.. Boutwell, continued. 1t is as
certaincd, by a careful comparison, that
if the average rate of taxation. during
the last three years of Johnson's aG-
minstration, had been continued and en-
tended over the first three years Of
Grants, the receipts of the Treasury
would be greater than they were by
-, TSS, 10000. SO it appears that with
the same facilities, and with the revenue
that was enjoyed by Johnson's admins
tration, the total payments on the public
debt, during the first three years of
Grants administration, would have
amounted to about six hundred million
dollars, and that the payments towards
public debt on the Both Of June 1878
would have reached the enormous sum
Of six hundred and tifty-thrcc~ million
dollars. This shows at once the rcduC-
ton Of taxes that has been effected by
Grants administration. The immense
losses by fraud and corruption under
Johnson is due, largely, to a division of
sentiment and purpose between the
Senate and Executive.
Mr.. Boutwell, expressed his belief in
the practicability of continuing the re-
demption of the outstanding six per
cent bonds and the issue of 5, II and 4
per cents, and said 1t must be accept
ed as truth for this country, in the
present condition, that the resumption
Of specie payments will not be due di-
rectly to any measure of legislation, !nOr
can il be forcibly maintained by any act
Of government. 1t must be the natural
result of the existing condition of things
and. therefore, it has been the policy of
the administration to promote that con-
dition of things, which would ENABLE
the government to resume specie pay
ments, without affecting violently or
prejudicially the great interests of the
country. The further equalization of
the value of coin and currency will de-
pend upon the increase of the business
of the country, the amount of our eX-
ports and the valne of fOI eign trade, car
ried on in American vessels There is
but one measure of legislation, except
such as foster the business interest of
the country, that can facilitate or hasten
the resumption of specie payments, and
that is reduction, by force of law, of
the volume of paper money in circula-
ton. This policy the country has not
been prepared to accept. Nor am
prepared to advocate the adoption Of a
measure which, unless very gradual in
its operation, would produce great in
jury to the business interests of the
country impair the revenue and in the
end, cost more than the value of the re-
suit produced. The growth of the
country, under wise Administrations of
affairs, will soon enable the government
to resume specie payments without yio-
lence or injury to any. For three years |
Mr. Greeley, through the columns of the
Tribune, has advised the Secretary of |
Treasury to sell the gold in the treasury
and apply the proceeds to the payment
of the public debt, thus saving interest,
and then to resume specie payments, or
rather these two bits of advice have been
and INTERCHANGEABLE present
ed without, at any time, stating which, /