National Republican. (Washington City (D.C.)) 1872-1888, 1874-06-23
GENERAL LOGAN'S SPEECH.
THE POLICY OF FOUNDING NEW
RARTIES DISAYOWED.

TENDERS AND NATIONAL BANK NOTES
THEORY OF THE REPUBLICAN PARTY
TITS THE ONLY REFORM PARTY IN THE
COUNTRY.
At the recent State Republican convention
held at Springfield, H., General Logan having
heen called upon, addressed the convention as
follows
Mr.. PRESIDENT AND GENTLEMEN OF THE
CONVENTION: In answer to your call to sd-
dress YOU l appear for the purpose of perform
ing that duty, which is a pleasant one to me.
came to this city last night not for the pur-
pose of interfering in any way whatever with
YOUR deliberations. appreciate too highly the
integrity and ability of the men who compose
this convention (if had even the inclination)
to attempt to influence them in any way con-
trsry to their own views on any question. I
came here because 1 am one of your repre-
seutstiyes and a citizen of the State, having a
right to mingle with my fellow-citizens and
constituents, that might learn whether was
representing them faithfully or not. For these
reasons alone have come among you. loud
spplause.1 1t has been stated in some Of the
papers that came for the purpose of making
a speech already prepared for the occasion !:
this is not true While the resolutions were
being read asked General Baum, one Of the
committee on resolutions, sitting where he
could hear, to make q memorandum of the
points contained in said resolutions. What /
shall say will be in reference to the questions
contained therein. the first of which is in refer
ence 10 the equality of civil rights guaranteed
by the fourteenth amendment to the Consti:u-
ton, and the enforcement Of the same by ap-
propriate legislation
1 fully indorsc the resolution; right so
guaranteed can only be enforced by statutory
enactments. Wherever any lingering prejudice
exists on account of race or color, the full
measure of rights will never be conceded until
by the laws Of the country the power to en-
force them is fully given, and we know that
the rights so guaranteed by the fourteenth
amendment in many instances, and many COM
munites, are trampled under foot with impu-
nifty; therefore believe it to be the duty of
Congress and the different LegislatureSbf the
several States to sec to 1t that none of the
rights Of any portion of the people sre IN
fringed or left in such unprotected condition
by our laws that they may be infringed.
The next proposition enunciated IN your plat
form is that no portion of the $3.50, 000, 900 of
the United States notes now in circulation,
commonly called
THE "GREENBACK CURRENCY"
shall be Immediately Cancelled. This resolu-
ton is certainly wise one, and has great sig
nifcancc at this particular time. The CANCEL
lation of the legal tenders of the United States,
or any portion Of them, bearing upon their face,
as they do, the power of discharge of all debts,
dues and demands, whether by individuals OF
the Government, except interest on the pubic
debt and duties on imports, while our country
il in its present condition, would certainly be
inexpedient and very unwise. Great applause
But even If our country was In a more prosper,
Gus condition than at present, until gold and
silver become so plentiful in this country as 10
circulate among the people in sufficient guam
titles TO fully supply the place of legal tender
notes, the people Of the country would beIief
without the power to discharge their oblifa-
lions one to another, OF pay their taxes to the
Government and TO the States, without great
sacrifice, which would have TO be made IN order
to procure coin for the discharge Of the SAND,
only 70 be found in the hands Of money kipgs,
having no compassion for the dtstress of the
mass OF the people. And to avoid this power
being exercised to the great detriment Of the
people, 1t Is wise that there should be no uncer-
tain sound on this subject. CApplsuse. Let
ia see for moment whether the condition, Of
this country Is such that we can take any other
LE4ew OF this subject. Let every man Of the
Sah hundred delegates assembled put his hand
u his pocket and see If the whole number csn
draw forth sufficient amount Of coin TO paw
the taxes of one single individual. Laughter.
Let me ask why is thisl 1t is, gentlemen, BE-
cause the coin Is not In circulation; It is not IN
the country; it 10 held Us a mere commodity
~ l..
the "Wall-street bullionists." II is true there
is great difference Of opinion on this question;
and so far as l am concerned | do not make ii
g political test, but hope that o full and free
discussion inside OF our own party will fpally
lead US to a solution of the problem. Il it
Eue, agreed in Congress to the withdrawal
O. a portion Of the greenoacks, but did that
By WAY OF COMPROMISE
in reference to bill believe would benefit The
country in regulating It's Rnalces-to hx the
national bank system on free basis. l made
that compromise because we could not get
Snything better. l agreed to the proposition
to retire 25 per cent. of greenbacks as one dol
lar Of national bank currency should be issued.
And l did afterWard agree to retire three
eigRhs, down to a certain limit Of $500, 600, 000
and then cease to retire. did do that because
II was all we could get; but when we voted
for it stood before the Senate and stated that
the bill did not satisfy me, and the reason h
did not was that It provided for withdrawing
portion Of the money having the power OF
the cancellation Of the debts Of the people.
But, gentlemen, there is q sentimsnt-not
very general, hope, but which has obtained
hold to some extent in this country-in favor of
q total repeal of
THE "LEGAL TENDER ACT"
I can say TO you, as a representative Of this
State, that | am bitterly opposed 10 any such
Getion on the part Of Congress. loud ap-
Rlause. And will give you q reason for the
Faith that is in me. II /, IS q Senator Of the
etate Of Illinois, should to-day vots for the r.
peal Of the law providing thst the interest on
4he public debt should be paid In gold, evers
ppndholder, every banker Ia this land, and
SSery honest man In the nation would say that
was repudiator Of the compact between the
xondholder and the Government of the United
States. When we passed a law making this |
money legal tender for all debts, that law |
Aecame g con:rac: between the people of the
United States and the GoTernment-to what |
extenn To the extent Of the value of that
tnbney in paving debts ss long as 4 continues
70 exist. While 1t is afoat as q circulating
Hhedium it must bear the same power to Iioui |
late debts as it had when it issued from the |
Treasury Of the United States. Hence I say, |
when vote to repeal that act making that |
SnoheY legal tender for The payment of debts, |
Z NOLc " TCpu4ldbC COHLTdCL O6LheeQ the
holder and the United States Government, as |
ippch as If voted to pay bonds in a manner |
different from that contemplated by the con- /
tract. l say, therefore, do not agree with |
those who favor repeal of the legal tender |
act, and l say this, not by way of attacking |
the views of anybody, but by way Of giving |
my own views.
The next question that you present in these
resolutions is that
TIE NATIONAL BANKING ACT
ought to be made free. Why made freel / |
kEther this 70 be the question from the memo |
fsndum furnished me. IT l understand, you /
lie IN favor OF making the national bank /
nc law free because It is based upon the 1
faith of the Government. And the faith /
IF the Government is pledged for the re- /
lemption of those notes, and just as long as
he Government is good just that long your ma
ional bank currency is good. 1t makes no
merence whether the bank fails to-day or to-
morrow, the money is good because the Gov
,rnment stands behind it. You say that It is
.ood money; yet you say there is an objection
o the national banking law. What is that OBJ
ection1 It is that you have provided by that
Ict of Congress national banking law which
estricts the use of its privileges to few men
n the land. There are, perhaps, to-day two
thousand men in the United States out of forty
Millions Of people who enjoy the exclusive
,enett Of the national banking act. You say
I