The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1876-09-14

AlA9 ~ Oe- t5tfsrt4 81. - rf-ftI sd.
-bsa5osq 73Hie 5ds gHoiuE b,s1la1
practically, five times that amout to
put into the pockets of manufacturing
capitalists. A protective tariff is y tax
upon labor to enrich capital, and pays
into the Treasury. We denounce it,
and demand that tariff taxation, as
well as every other, shall be for reve-
rue alone. That the poor shall not be
taxed to feed the rich, nor labor bur-
dened that capital may pay large div
idends.
-.i{, ~ RECKLESS EXPENDITURES. ~
Nor has the expenditure of this gi-
gantic tax been less corrupt and reck-
less than it's exactiOn has been cruel
aud unjust. Eleven years ago the Ma.
iional debt was nearly 50, 100000, 600 !;
it is still more than 81 $l,1OO.OOOOOO, 1t
has been reduced less than $3.50, ,OOO,-
600. The interest paid on this debt
has been about 81, 800, 100000. Taken
altogether about 81 SOC, 100000 has
been paid on account of the public
debt. Where is the rest of the 81, ,3OO,-
100000 !? So, ,40O, 100000, or S2lS,OOO,
! wv u year udtc UGoH SD0nt. lJCuuCl
pensions and there is still $4,000, 600
a year. What has become of it ? Gone
where the wOodbine twineth." The
regular cost Of the Government in
eleven years of Republican peace, ex-
elusive of pensions, has been So, lOO,-
OOO,OM. Eleven years of Democratic
peace, ending in 1860. alike exclusive
Of pensions, cost only S544, ,0OO,OOO-
| ol,o,,f rth ,nspph Rnnnbls- :
can rule cost Sl9O, 100000 per annum !;
Democratic rule, $40 100000. Look
to the Finance Reports. Isno reform
needed? Judge ye!i H4.a Ho'I .s..=
tses Ha THE CURRENCY. ki-n'iEl
The Rublican party is Whig on its
fathers side and Abolition on the
mothers. While its Southern policy,
therefore, is the offspring of its sec
tional antipathies and hates, its finan-
cial policy is of Wing ancestry. The
one takes after the mother, and the
other the father. Its doctrine of tar
IFS, currency, internal Improvements,
and its administration theory, gener-
ally comes from the Whig blood in its
veins. When it came into power,
there fore, it became at once as its an
cestor had been, the particular guardi-
| Ill VI luc IuOucy luLcTcStS.
it's fostering care banking and stock
jobbing gained great streng tn. These
interests became the pets OF Govern
lnent, as they still remain. They de-
mandcd credit money, and the demand
was yielded, and bankers and money
speculaiors have ever since dominated
/ the business of the country. The
grcenback took the place of the pre-
| I.i., nj. nj
TEN was fount!e on the bonded debt.
| Coin was banishcd and Inflated cred
/ it paper intoxicated all the industries.
| We need not consider the subject now
no further than il concerns tile ques
tions OF this canvass, But the whole
| system was distinctively Republican,
and its introduction was opposed by
the entire Democracy. Its merits, il
it has any, the Republicans are enti-.
tied to !: its sins, too, they must shoul.
der. 5iie 3ii isi'i ~'--,'.' r. ''''-t
In this canvass ii is necessary to no.
tice only a few points in the working
of this system. Greembacks were at
first fundablc in bonds and the bonds
payable in them. The danger Of this
was apparent to the mOneyed interest.
Congress might make them at will
and repeal their fundable character.
The mOuey changers, ever alert, put
an end to this. Theu, as the face of
the bond was silent rs to the Kind Of
dollars in which it should be paid,
alarm was again taken, and though
Congress had limited the amount of
yreenbacks to be issued. it was feared
that the green nback issues, supposed to
be temporary, might remain perina-
nent, and might remain at discount,
and 30 the Money Potoer decreed that
the bonds should be piid Sin coin"
aud passed the act of 1869. 1t is no.
tlceable that the National Republican
Convention at Chicago, which nOmi-
mated Grant, resolved that the bonds
were pay able in greenbacks, in obedi-
ence to what was supposed to be
popular demand, and yet the very first
act signed by Grant on his election as
President, and within twenty days af-
ter his Inauguration, was an act piedy
ing the faith of the Government, to
paw these bonds in coin. This was an
act of perfidy equaled only by their
pledge in the same Convention TO
leave each State to control suffrage
for itself, and then forcing on them
negro suffrage in less than a year.
Aud let it not be forgotten that this
act Of 1869 does not require that the
bonds be paid in gold, but IN coin.
And let it be remembered, too, that
gOid and silcer are expressly recoy-
nized in the act as the ''coin" in which
payment was to be made. Thus the
second step was taken to enhance the
value OF tie bonds at the expense OF
the taxpayers. There were many
plausible reasons behind the enact.
ment, which we need not pause to
discuss but it heightened the bonded
debt hondreds of millions. Still the
plutOcrats were not content. The an
nual crop of gold was diminishing,
and the annual crop of silver WAS in
creasing. The money-changers of
Europe and America, still alert, per-
ceived this, and schemes to demone-
tie silver were started and cunningly
and stealthily execoted abroad aud at
home. The circulation OF silver was
crippled in halt the countries in Eu-
rope. In this country, silently, under
coyer OF revising the mint laws of the
United States, the coinage of the old
silver dollar-'the dol!a7. Of the Futh
ers'-was abolished by the act of 1873
and the SUBSEQUENT REVISED Statues,
and gold alone became legal tender in
paynlenth Ut the, bonds. A clearer
fraud. "a more wick ed violation of con-
tract can hardly be fouId in the
worlds history. From the earliest
settlement of America, through all its
history, the ''dollar"-ihc silver Span
ish milled doliar-had been a legal
tender and the measure OF value. 1t
was the money of account, aud our
Revolutionary fathers had contracted
and paid in it The debt that won us
undergraduates. During the wars with
England and Mexico, i'll the worlds
market, we had borrowed money OH
il, and paid the loans. The debt oi
the late war of secession was contract
ell on tie same standard, and had been
declared by statute to be payable in
The s,ine cnin Ii WAS lrUaI fender