Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1875-09-10

they eound not support life 5000 year, aud q
money! Then a bookseller in Richmond could aot
break $500 bill the boots costing $780, and the buyer
said. "Never mind the change; It is not worth while
to let little matter Of $500 sand in the way Of trade
Remedy, more money! Then handful OF beef cost
a basket full of dollars, and gold dollar was worth
SI2 in paper Finally society relapsed into bartsr
and the doctor sent to his friend for "ten to twenty
visits worth of corn" Yet there are men who pre-
tend TO know where Initiation ends. The world
knows. Nowhere but in the gulf OF rePudiaton!
NEARER THE VERGE OF THE CATARACT
Toward that fatal principle have been drifting
too long already With all the experience OF the
world 10 teach where the rapids OF initiation end men
found TO propose thawe shall take the risk plunge
over Niagara and trust that some American law Of
gravitAtion will make US isli up, and not down. In
those rapids already, if wait for the country to
"groW up to specie payments" go straight into the
gulf. Every hour that tolerate hucIuatng cur
rency eripples industry still farther lessons power
to pay debs and takes the verge of the
cataract Imitation can only hurry US onward. Ma
tional honor is hut the honor of individuals Debtors
wp9 want imitation to-day to escape part Of their hon
morrow, TO escape the whole. Ignorant men,
taught by demagOgues, if they are not re-
leved to take capital by the throat" will soon find
for the destruction OF property. Capital alarmed al
ready al the first step toward imitation, will fly as
from pestilence. Then will come such a eosing OF
banks, calling in Of lOanS aud foreclosure of mort
cages as this country has yet seen No other
tiOL will have the chance repudiaIe S6,5 OUo
600 as France did. Money has grown wary. Ii knows
that the men who camor for initiation mean "The
Devil take foremost" and protects itself that the
devil takes the hindmpSt. The rich grow richer.
Labor bears the loss But there is other and still
more dangerous element Men who gave the best
years Of life 70 lot cause saw their flag furied
and their debt dishOnored. forgive the victorious
soldier long before they do the victorious creditor
Not all, by any means, thank Heaven! But human
nature is weak. and there are many. Do you think
they like TO pay taxes to those who trusted the Union
in its hour of danger? How many 1 have heard
say: "Our debt and money went; yours will go.
Then will even- How is 1t that nearly every
Democratic paper at the South is for imitation? How
is il that your Peace Democrats, who thought the
q failure, aud the greerbacks unconstitutional
now the loudest to demand more of them? Men who
wanted the Union fail, and prophesed that It's
pledges would be worthless, striving to make their
predictions good. And Governor Allen, standing on
platform which demands Iepudiation, says that Re
publicans only speak OF it. Be not ashamed of the
WORD, Governor. l tell you sir the thing itself
is manly compared with these tricks to make II ineV-
liable.
LEARN To SWIM, BUT DON'T GO NEAR THE WATER
pass lightly the faIsehoods and tpes OF that plat
form. The disaster was caused not by contraction
made by the Republican party, buI by the Te years
OF continuous imitation Since came and in spite Of
both parties the laws of trade have caused the only
contraction in seven years The Republican party
have not proposed further contraction Its action is
defective, because it provides adequate for
reaching specie, and allows trade to initiate contract
at pleasure 1t is folly TO ask Congress to make and
keep the volume Of currency equal to the wants Of
trade" Congress would have TO remain in perpetual
session, and pass currency act every day, and
then would fail No man knows, no Cou-
greSs knows, what amount Of currency is needed:
the National Board OF Trade among all Its
picked business men, has not 3 member who knows.
Translated into English, the resolution means
to assure every bankrupt that the nation will pay
his debts and every labOrer that 1t will issue to
him two acres and mule. Industry not really
revive before it has . solid foundation Of honest
money. The idea is worthy OF the father who told
his boy 10 learn to swim, but warned him not 10 go
any water. Were it possible, TO needessy pro-
tract for years the disorder uncertainty and change
of prices incident to resumption to cruel
and silly as to spend ten years in pulling tooth.
Finally Congress has not proposed to reduce the legal
tenders below $500 900 in any case, but the Demo-
Gratis say that1n abOiishing them Congress Increases
the power Of dangerous bank monopoly. Evidently
this is stray piece OF party furniture, picked up by
some political Mrs. Toodles in the idea that if the
Republicans should do such a thing, the resolution
would be $50 handy to have in the house" The Re-
publicans have wiped out all the monopoly features
Of the bank system, banks surrendering
circulation by the millions and the resolution is about
useful big brass door-pate with another mans
name on it.
These are mere foIlies Look, now. at the crimesI
The who declared legal tenders unconstitutional
in propose to issue $3.50 0OU 0O0 more of them
in peace. They want to repudiate the notes. They
begin by blunt, bald reputation of the contract
which gives them valuej a solemn pledge that the
amount should never be increased The BANK circu-
lation be retired if wish, without issuing le
gal tenders or drawing more Of our capital from
dustry by forcing an immense sale of bonds at low
rates But safe honest way suits those who want
more legal tenders the beginning of Reputation.
They would force upon the market at once about
$500 600 OF United States bonds now held as Sc
eurity for notes. Is this ignorance, the intent
break down the price of bonds and ruin the hated
bondhoders? What method more sure could be con-
ceived? Why are they hated2 Because they trusted
the Union when Peace Democrats were trying to de-
ANOTHER DREC4 REPUTATION.
Finally, it is proposed to receive half the custom
duties in paper This is second direct reputation
of contract with public creditors. The act of Febru-
airy %, 1862 provides:
That all duties on imports shall be paid in coin,
+" and the coin so paid shall be set apart
special fund, and shall be applied follows:
81: To the payment in coin Of the interest on the
hond III. oud raofaa nf FboT TTrsfa
''2 To the purchase payment of per cent of the
entire debt of the United States, be made within
each fiscal year after the list day of July 1862 which
is to be apart sinking fund.- and the interest of
which shall in like manner be applied to the purchase
payment of the public debt as The Secretary of the
Treasury shall from time to time direct.
49, The residue thereof shall be paid into the Treas
ury of the United States"
over 81 800 900 900 of outstanding bonds have been
Issued since this act passed, under its solemn
pledge of the public faith that interest and principle
should thus be protected by collection of duties in
coin, and the creation of sinking fund. Democrats
may care little enough for the honor of the country
may have hatred enough for those who saved the
Union to repudiate this pledge. No other party,
sure, will so disgrace Itself.
1 know that many Democrats will say ave do not
indorse these Infamous proposals." Then vote them
down Strengthen these repudiat0rs by victory,
and they dictate the of your party The major
ity of people in either party not dishonest That
is not the danger in this country The danger is that
that politicians come to believe the people knaves
Nor am one of those who put much stress upon the
q
might hope that the party would than its
leaders or more honest than its professions. But 10
mistake the spirit which is behind this
platform, 1t is declaration Of war-war upon the
savings Of labor, upon those who trusted the
Union. Il comes from the very men who f'Would not
dellar' In 1861, who resisted the draft
in 1868, who called for cessation Of hostites in
1854 and who demanded in 1868 payment Of bonds in
dollars then worth only SO cents which their
would have made worth less than thirty. You here
in Ohio buried them under 10000 majority, and gold
fell from $50 1872 To-day their defeat means return
to prosperity their victory bankruptcy and repudia
ton.
THE EXAMPLE OF CALIFORNIA.
On the Pacific shore sits California untouched by
your disasters. Her labor is paid in gold. Her ports
are crowded with ships Her wheat travels twenty
thousand miles push Western gram from the mar
kets. Her manufactures growing with marvellous
rapidity for solid money and low prices tariff in
her favor against the greenback goods Of the East
Watch the travel thither. Inc earnings of the Union
the first six months Of 1875 See the trains crowded
with workers, flying from the sagnaton Of the East
the life and progress Of the Pacific coast. "Ah but
California produces gold" Very WE'LL go to the Bank
of France In It's vaults S55 600 Of gold Over
$500 600 produced by mines of thess United States
we have exported within ive years. Why, when
we so need it7 Because France has suffered ter
riby, and has learned wisdom. Her lesson
was worth all 1t cost. The French peo-
pie have learned that a who rails at capital and
interest, and rants about more money, is enemy Of
society, and above all Of labor Frustrated as no other