The Vinton record. [volume] (M'arthur, Vinton County, Ohio) 1866-1891, 1874-09-03

and foreign capitalists or BY the farmer and mechanic
who have purchased ihem out Of their hard
sarniIssI the guardian Who, holds them
who is helped o live by the sale Of her coupons II
we hegle about this aud dicredt the bonds BY max.
Ing the manner and measure OF their payment donbt-
tn, seput on indefinitely the day Of currency re.
dempton.
We are also OF the opinion that the
NATIONAL BANKS
have been Of great utility TO the people They have
furnished Us with uniform and safe currency, good
eseryvhee safe Tor the note holder because the gov
ernment stands behind the bank bill safe for the gov
ernment beeause Il Is secured by deposit Of lis own
bonds The cry that We pay interest 70 the banks on
made for the purpose Of creating distrust The banks
buy their bonds In the market other purchasers DO
and they cost US no more In their hands by way OF in
terest than they would In the possession OF other hold
Bonds were issued TO enable US TO raise money.
and the Government was glad TO have the banks by
them az ume when certain classes In the country
Suppose We should do what the Ohio Demoeratlo
Convention recommends-yipe out the national,
banks, and issue currency In the place Of national
States We now have in circulation s3s2 1000 Of
greenbAcks Tor the present irredeemabe but rapidly
approximang to the value Of gold. II we add 10 this
deprecated paper equivalent for the national bank
circulation 1854 900 000 by further issue Of Rreen
backs Senator Morton well says in his Terre hauta
speech, We further deprecate the value OF the cur.
reney aud render the resumption Of specie payment
impossible.
Whenever the national banks shall cease to be USE
full, whenever anything better than these insttu.
tions shall be suggested BY the Democracy or a body
else, the Republican party will be ready TO adopt the
new system; but they do not deem IL expedient to
discard that which has worked we'll until something
better matured and presented. These attacks upon
national banks are Of course nothing but political
bumeonbe, an appeal BY ambitious politicians ths
preudices Of the ingnorant and not the reason Of
Intelligent men. Whether hereafter when specie
payments shall have been resumed, system Of free
banking may not be possible aud advisable, Is matter
Naln Ina a.. -.
sidered.
Last year we were overtaken by
financial crisis and panic occasioned
by the ailure Of certain gigantic railroad schemes,
and the bankrupty Of few large commercial houses;
these failures involved some Of the banks and en-.
barrassed OF ruined considerable number Of business
mem confidence was shaken everywhere banks closed
their doors for time and debtors we're unable 10 dis
charge their liabilities. II 10 these troubles had been
added the evil of such currency In use before
the war; who can estimate or limit the disastrous con-
sequences TO the country1 As Il was about the only
evil effect has been to render business dull and profits
small And this has been in part compensated BY the
introduction OF economical habits among the people,
and OF more conservative practices among business
men: The enormous fruitfulness OF the present year
Is calling the money out Of the banks where It had ae
cumulated, and Is scattering 1t over the country
where 1t Is needed business is revlving
again and u we simply hold things az
our troubles will correct themselves, labor will be
profit.
AS 10 wnetner we snail have protective tarif, q
revenue tariff or none at ALL desire only TO say that
there has never been party In power In this Govern.
nent which dared proposed 10 raise our entire rev.
enues BY direct taxation. 1t has always been simply
aqueston OF distribution question Of expediency,
as to what articles should be taxed aud what ones ex.
empt am not disposed TO quibble or quarrel about
names revenue tariff, such as will supply US with
the amount Of money required, Is sufficient for all pur
poses II will incidentally protect In spite Of prinei-
pies or Names and 1t should be adjusted to bring
us. the largest possible returns without fostering
mOQOnOlioq ms To fl.h
and what Il shall be, requires judgment and expert.
ence. This understand TO be the Republican doc.
trine upon this subject, and 1t in no way
differs from the practices Of the Democracy when in
power.
Another important matter demanding the attention
Of the Government is thatof
CHEAP TRANSPORTATION.
All classes OF citizens and ali sections of the copntrv
are interested in this subject. New England, chiefly
devoted to manufactures, and purchasing annually
from the West more than hundred million bushels
o. grainatne south, where the production Of cotton.
cereals and whose purchasing capacity, at fair rates.
ought TO be two hundred million bushels Of grain
year-the great West, and especially the grain
producing States Of the Mississippi Valley, which send
70 market more than three hundred million bushels
yeara these want cheap transportation for the ben.
eht oil producer and consumer alike Our exports Of
grain have heretofore amounted 10 but lite-es than
perhaps twenty five million bushels year. but these
exports are now rapidly increasing. The hope how
ever, OF farmers in the home market and the
problem Is how to reach it without doubling and
trebling the cost Of our products. MANY in
auential and Intelligent Republicans are of opinion
that Congress has power to fix the Of transporta
ton on all reights passing from State to State under
the general authority 10 regulate commerce between
the States, and think the decisions Of the Courts
warrant this opinion But the subject has not untii
recently, attracted the attention Il deserves and ia
takes time to perfect a comprehensive and equitable
Pan-a scheme just to railroad companies, and just
70 farmers, for that Is what we want .
There were in the last Congress- several significant
votes, however, with reference to the matter espe.
eiaiy upon the resolution introduced By John q.
smith, OF this State, and upon the McCrary bill in
the House. In both these instances the Republicans
were generally found on the side of the people and
the Democrats as generally with the railroad compa.
nies. Republican Senate has now a Committee on
Cheap transportation, who are giving the subject theif
most careful and thoughtful consideration. 1t Is pro.
posed In the best manner to protect the forming and
mechanical interests OF the country without oppress-
ing or wronging railroad corporations This can la
done in various ways; by improving the natural and
constructing artificial waterways; by establishing
competing railways when necessary, and possibly by
liking rates on existing lines II the Courts permit Al
all events the Republicans in Congress can be safely
trusted to do the best thing available whenever 1t can
be determined what that Is do not join in any wild
cry about railroads. They have done too much fot
this country TO warrant 1t. They should he fairly
dealt with and properly controlled in the interest o
the people.
THE SOUTH.
As mentioned at the beginning Of my remarks. one
Of the important questions of this time Is the pacfca-
tlon and development OF the prosperity Of the South
hNu oueplOIdDle CONDITION lnWlcl thu
southern people were left at the close Of the war
There resources had been exhausted their credit was
gone their system OF save-labor had been DESTROYED
the colored people, elated with their new found lb.
erty hardly felt like bending themselves TO the sams
burdens they had borne by compulsion and the
whites had not been educated accustomed TO labor
10 make the matter worse lot Of adventurers with
out conscience character finding their opportnnityu
the confused condition OF Southern affairs went down
from the North TO secure positions they could not
achieve at home and 10 better their own fortunes by
preyng upon the poor remnants Of Southern prosper.
ity As was natural the bitterness aud hatred which
eliminated in civil war, could be subdued so eas
lily asrebe armies the old bitterness fingered in many
hearts The Confederate soldiers generally accepted
the situation, and acduiesced in Governmental meas.
but awless bands Of desperate characters roamed
the country, and committed numberless outraTes
Notwithstanding all this, the Administration and
Republican Congress- exercising forbearance and gem
erosity foregoing punishment to rebels which might
have been exaced, controlling for the time firmly hui
indy reestabishing the old relations Of the States
at the earliest possible moment and giving to each m
normal apd proper share in the Government of the
naton had so far succeeded one year ago that
returning prosperity was beginning TO gladden. the
hearts Of the Southern people, and there was every
prospect OF happy and glorious future for them
Then came the Northern elections, which, In many oi
the States resulted disastrously the party in
worst elements OF the South looking on Thought
they saw In the signs Of the times indications that ths
Democratic party the old friend of slavery and ay Of
secession, about to get control of the oyernment
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