Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1875-08-26

dred millions. There b 10 rarPcss IN NE bin "a
issue the remaining eighteen millions, but to settle
the question and justify President Grant. The
bill further provided for further issue CT Nation
al Bank bills of fifty four millions, to be divided
among the States according to their capital com
merce, etc. 1t was not expected that u would bt
taken rapidly. Subsequent events justified r.
The bill also provided that National Banks shall
keep reserve In their own vaults with the expcc-
fancy that it would contract currency more than
the issue would expand it. The President vetoed
It. At the next meeting another final bill was
passed. The first provision was the resumption
Of specie payment in 1879, putting it off four
years. 1t was considered long enough The the
DRY was that in two years the greenback would
gradually go up to par and be as good as gold
The Bank of England resumed after twenty-sev.
| en- years suspension, on an entirely similar law.
The banks of Germany, Belgium and other coun-
tries had done the same. 1t is not the purpose OF
this bill to retire greenbacks. Further provision
required that their volume should not be less than
three hundred millions.
BY that bill we made banking free, but provided
that when one hundred millions of national bills
were issued eighty millions Of greenbacks should
be retired; so that with reserve Of 20 per cent
the currency should be neither increased or dmin-
ished. He was willing to stand by this bill, and
thought the republican party of Maine would
stand by it. (Applause) That bill is not what
every man who voted for It wished, but we are
prepared to stand by what is done, and conf
dent that it will bring back to a stable currency.
He would not detain them longer. He believed
the success Of the republican party is the manten-
ance of the great results Of the The success
of the democratic party is the payment of the
Southern claims and success Of Southern princi-
PIES Northern democrats could have Office, but
no would be successful who not fully
identified with Southern principles. The demo-
cratic party is the same as before the war, during
the war, and since the war. you put it in power
you know what you are doing. That party never
can accept equal political rights Of negroes as long
| as it exists. There is an irrepressible conflict.
The conflict in Maine is important indicative Of
the results in other States. He hoped it would be
a republican victory. He paid tribute to Maine
in the war; spoke of the next year as the great
centennial year, and of the great interests to be
preserved inviolate for that celebration, and be
begged the citizens of Maine not to be betrayed
| by kiss.
| Senator Morton spoke one hour.
| Gen. Woodford followed. He had come here
on q social visit, but could not refuse the hearty
invitation to speak and aid his gallant comrade
| Gen. Connol. He took up the financial question,
saying that the great thing wanted was conf
dence, and the true way to get confidence was to
deserve it. Whenever people believe they will
get specie payments they will by slow and steady
steps tread back to it. He arraigned the dem.
party for its steady policy since 1884 calculated to
break down the National credit and cited the
Ohio canvass to witness the truth of his asser-
tions. As they stood for liberty before the war;
and for the nation IN the war, he begged them to
stand by the faith of the nation now He plead
for the purity of politics, and begged them to
cast out the thief from the rep. ranks as promptly
as the Tweeds of the dem. party. He spoke 10
minutes and the meeting closed
Senator Morton left in the night boat, for Ban
cor.