National Republican., 1876-09-12

abundance OF their ignorance OF out OF the
abundance of their wicked and perverse
malignity. The Republican party has been
in power in the nation now about sixteen
years, and Notwithstanding the large debt,
the credit of this Government at no period
in its history ever stood so firm and so high
as it does to-day. Contrast the present
with the time of Buchanan. Most people
living at that time and at all familiar with
current events as they then trsnspired
know the difficulty that Howell Cobb, the
then Secretary of the Treasury, met with
in putting So, 000. 900 loan on the market
at 12 per cent per annum. Mr.. Morrill,,
the present Secretary, puts $500, 900, 900
loan on the market at Al per cent, and it is
taken. This is the ruin which Republican
rule has brought upon the country, is it
Shame on the fools and the knsves who
perpetrate such lies in the face and eyes
of incontroyertible facts which nail all
their falsehoods to the counter as base coin.
1t may be observed that although the debt
is still large it has steadily decreased every
year since the close of the war, and that
the Government filds no difficulty in re-
newing its bonds at maturity by substitut-
ing others at lower rates of interest.
Should the Republican party remain in
power for another four years, as it un-
doubtedly will, we shall be able to fund
the entire debt upon a basis of 81 or 4 per
cent. Moreover, the fact that the Secre-
tary has been able to sell three hundred
millions of four. and -one-hslf per cent.
bonds at time when the nation was suf
fering under protrscted business prostra-
ton, such as has been rarely known in our
history, is marvellous, and silences forever
the clamor of the demagogues like Tilden.
who declare that the Republicans have
ruined the country.
But let US shut our eyes for moment to
the portentious results of the Vermont and
Maine elections that tell of another four
years of Republican administration, and
suppose that the Democrats shall take the
reins of Government on the 4th of March
next. What would be the effect upon
American securities in foreign markets2
What would Rothschilds, Seligman and
Baripgs say to our four per cents. for re-
funding the remainder of our skies?
Would they not at once point us to the re.
pudiation of Government responsibility for
the bonds of this District Would they
not at once cite to US the interest on the
3 65's last February and the refusal Of
Democratic House to provide for it by ap-
preparation during the current year? And
would they not say: 1--WE have no faith
"that the Democracy will carry out
" "the pledges of the Congress heretofore
made, except where the appropriations
care permanent" And they might
truthfully add, eve are now largely suf-
" ferers through the Vaccinations and
" manipulations of Mr.. Tilden as rail-
" way manager. He has sunk our bonds,
" and by consultations converted good first
" mortgages into worthless stocks, christ
"ened preferred to be sure, but which
"were soon swamped or dwarfed by new
mortgages, and fually second time
bankrupted and 'reorganized' and con-
" solidsted' and preferred" We want no
more of him. We shall look to see the
"whole national debt repudiated or paid
" off in worthless irredeemable scrip if Til
" den gets into power. His genius lies en-
&" tirely in that direction" What else can
be the reflections of foreign bond-holdersI
Our national credit has been gradually ap-
preciated by our constant reduction of our
debt, coupled with the promptitude with
which we have provided for all our obliga-
tions at maturity.