Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-10-24
the difference with

about one hundred and sixty million In ls7S
|. about sixty million OF THAI too, being de
monetiZed silver. About the highest pape
! circulation we had before the war, redeem
| sbe in gold and silver, was about two hun
dred ana twenty five millions, This in som
degree shows what terrible contraction viii
nave TO take place in our country before IL 1
possible 70 resume. Surely IT viii have to b
contracted 20 almost one-thinl Of its presen
volume. II is ibis contraction continuallI
going on preparatory to, and in anticipation
OF this resumption, that works the distres
= and ruin that Is upon the country. Well, WI
have cOntrasted somewhat the condition o
Ergland and this government when she pass
ed her resumption act. Let me read TO you
very few short extracts out OF many tha
might be prod iced from leading authorltie
OF that lime upon this most interesting aaC
1 vital subject. Mr.. Attwoo1, in a debate in tht
house OF commons at that period, said: ''Ir
the midst of this fall of prices, what opera
| lion IN business cOuld proceed without loss ol
| rutn2 There has been no form in which the
capital OF the merchant, none in which the
ca pitsl Of the manufacturer could be invested
without the half o. IT being sacrificed during
this cal amttous period. " e have been thrown
| back upon condition of society in which all
industry and enterprise have been rendered
| pernictOuS or ruinous, and where no property
Is safe unless hoarjed in the shape OF money
or lent 10 others on double security" Allisen,
in his "History OF Europe" said: "The effects
OF this sudden and prodigtous contraction OF
the currency was soon apparent, and they rem
| dered the next three years period of eease less
distress and nd sqifsIing IN Jhe British isl Ands
| have already seen the fall of property pro-
| duced by the immense narrowlr 9 of the paper
| circulation. The distress, ruin and bank
| ruptcy which now took place were uniVer-
| SAL" Sir James Graham said: " The bitter
| fruits OF this act resumption acD were tasted
| by all classes save that in the midst of the
| ruin inflicted on the farmers aud manufactu-
| rers, and the instructions of a pOpulace
| without bread and without employment, the
| bOndh olders and tax eaters prodted." Is thi Z
| not liielike picture of the condition of this
| country at the present time? Is there "any
| sort of property safe unless boarded in the
| nj n 10
| security?' Do not distress, ruin ami
bankruptcy slsre us in the face?
| as in England, under their forced resumption
| act tasted the bitter fruits of this most in
| iquitous legislation, save the bondholdeTs and
| the ta8-eaters OF the country? Colonel Avery
then spoke to the colored people aOout the
TObberles of the freedmen's bureau and the
fIeedman's bank; that altogether they were
robbed of about three million dollars, divided
| out among the various branch banks and the
mother bank at Washington; that there were
about seventy thousand deposiJors in these
| banks; that sixty million dollars had been
| deposited in them from from first to last; that
| they got away with one hundred thousand
| dollars out of one hundred and thtrty-fiVe
| thousand dollars in Beaufort, South Carolina;
| one hundred thousand dollars at Jacksonville,
| Florld ldai ard they beat yOu out of sixty thou
sand dollars at Memphis. They stole the
most at Washington, for there was
the biggest pile and the biggest thieves.
up to be The especial protectors and guardians
OF the rights, interests and money, foo, of the
cClored man. And yet you are asked, my col
ored friends, TO vote for again and perpetuate
! in power these people and this party that has
plundered you. / suppose Arkansas
ought to vote solid for the Republican party
for what it did for that State before her re-
dempuon; Mississippi ought in gratitude for
her Ames and his miserable gov, rDment;
Louisiana ought to rusn solid into the arms
of RadIcalism for sending an armed soIdieTy
and dispensing lawfully elected Legislature
ana oisplaciug a lawfully elected governor,
and putting in by force X llogg and his crew.
/ gratitude
party for their expressions and enormities
there ought 10 be solid south.
TO reform themselves. AS Judge Trum-
bull said the other day, in speech in Chica-
go, "You might as well expect TO hatch out
setting of rotten eggs by putting new hen on
them" Mr.. Ha6 es may be an honest man,
and doubtless is; for would put this canvass
and these political discussions upon a lOftier
plane taan per, onal detraction. 1t disparages
US as a nation to have the respective candi-
dates for the great office of President stigma
tized peri urers ahd thieves. l take 1t that
Governor Hayes represents the morality and
political bent of his party; that Governor
Tilden alike represents the morality and
honesJy,as well as the political views of the
party at which he stands at the head. They are
both honest, but shou u Mr. Hayes be elected
by whom shall he be controller? Senator
Morton said in his first brutal and bloody
sp ech made at indianapolis at the ginning
OF the canvass, that "the administration OF
any party Will. in the main, be what the
party which elected him MAKE 1t; the men
TO whom he owes his election, who have de
look for support in the future Will control his
actions ana he will do nothing offensive 10
them I" Taking this, then, as the role laid
down by Mr.. Morton himself, who will con-
troll the administration of Mr.. Hayes should
he be elected? Would it be the honest reform
ers of his party? Would it be the Biistows,
the JEWELS, the Wilson's, the HenuerS0nS?
Have they not been sent to the rear? But
would it not Ee the Chambers, the Mortcns,
the Buffers, the Logan, the Camerons,
upon Wri ing book against God Almighty,
with the sacTiligeOus entitlement, "An Hon
est GCd is the Roblest Work or Man" These
ara the men who have run the government
for the last eleven years and who would still
control the administration and give direction
to the laws. In the person of Mr.. Tilden is
presented one who has illustTa, ed his power
and capacity to reform, to retrench, to break
and smash corrupt rings and bring to punish
ment corrupt criminals; with hendricks TO
help him, too-that grand specimen OF chris
tiaa statesman for know MIN well Four
years ago the south voted for Horace Greeley
because he was the representative of that
great idea of bUrying the bloody shirt, br1dg-
ing the bloody chasIn between the two here
tofore hostile sections Of the country, and
they wanted TO prove 10 the world that they
were sincere in this patriotic desire. For
this they were denounced by the Repub-
Hcan party every where a base and aDan-
doned hypocrites. This is the spirit in
which the south was met by the Republican
party fer giving this vote fof Greeley, the SOL
emn seal Of their sanction to unity, peace and
concord between the sections. And now, be-
cause the south does not vote for this party
united for economy, retrenchment, reform,
peace between the sec ions, they are a. ain
denounced and held up in derision as a re-
bellous, revolutionary, disloyal and solid
SOUTH Does not every southern State that
has been re cned from Republican rule to.
day stand out before the gaze of the civilized
world as tate government OF peace, loyalty,
economy, honesty and prosperity? Thirty
years ago the same disturbing element
thank God, now no more-that su ndered this
ing God. The Methodist church-that great
popular religious oIganization-has been
for third Of century divid,
together this broken brotherhood of
CHI istians. 1t was to have been hoped that
sp!endors OF this Centennial sun, the fierce
fires of animOSity that were enkindled by the
war would have been quenchei forever; that
old hatreds would have been buried, and then
the broken brotherhood of political sections
would have, like the broken brotherhood of
churches and of christians, been united. Who
is it that stands In The pathway of this glori-
Gus cOnsummation? Not the Democrats.
Who is il that enkindles atresh the shoulder
ing embers of dscOrd2 Not the Democratic
party. Look at the difference between the
sentiments expressed by the two bodies OF
American soldiery recen ly assembled upon
different occasions at Ind1anapO is. Tne Re-
publican soldiers Pin mass meeting assent bled
raised nigh toe bloody shirt. That great body
of patriotic soldiers of the Democratic party,
who fought alise TO save the Union, declare
for peace, declare for concord, declare for a
fTaternal union OF all parts and sections of
THIS great kepuDllC. InlS Is J06 ulUer6nc6 IN
sentiment between the two great parties OF
the country. Which, then, is the sectional
and which the national party? Elect Tilden
AID Hendricks, and this great country once
more unit d in peace and patriotism, will
move on in the great pathway OF prosperity
and happiness.
Colonel Avery was followed by Mr.. Kor-
trecht, who spoke for one hour on State and
national politics. Mr.. Kortrecht's speech was
one of ability as to his effort and the party he
represents He declared for a State tax suft1-
cient to run the government only, anu
claimed that the democrats are responsible
it did from the war caused by this party. He
was flor free elections ana a lair count,
holdltg that the elective franchise should be
guaranteed to every citizen, irrespective OF
lor.
Mr.. Thomas C. Lowe, the Democratic
nominee for the legislature, next followed in
Ru hours speech, charging tbe State debt upon
the & publican party, and showed that
bToWnl owls administration increased the debt
eight thousand two hundred and fOrty-sIX
dollars. lie read largely from the committee
reports OF the Democratic legislature of 1862
20, which showed how the BrownloW admins
tration had created the debt by fraud, snd
sto en- the State school fund. He ella med this
part of the debt 10 be no charge against
the state; that the National Republican
party had trebled this deot by the specie re-
sumption policy; that Is that IL would TAX e
thtee times as much property o pay IL now as
when il was CONTRACTED, and that the money
paid to the bopdholder would buy MIN three
times as much property. He a-ked the peo.
pie II they wou turn the state government
back TO those who had brought their troubles
on them, He clargedthe funding policy upon