Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-10-05

IN the hancs OF upright and patriotic public c
inc Iaint OF personal dishonor
or the Ieprosy Of ofieIaf corruption, and who
also desire 70 see the renewal or that public
hearts OF the people, without which 10 ma
ton of freemen can exist. The highest aim
and end OF all governments should be T. pro
mote the happiness and Weli-heirs OF Us sub.
itcts, and Il Is the mott sacred duty of cur
own 60 win the affection and loyalty OF every
ciusen by wise and judicious policy and
Two great political parties ia this country IS
likely To meet these demands and accomplish
lhese results Is the grave question Whlcn tie
American people are called upon TO detei mine
at the ballot-bOx In the approaching election
for PTe1c ent and Nice-Pfesident OF the Unite d
states, and to this all other Issues and ques-
lions should be subofd mated In order to
euE3le him 10 Judge co rrectly Ct the claims OF
the two parties 10 public confidence and re-
spect, and 10 act advlsedly in the matter an
honest man, des rouS only Of promoting the
public welfare, without regard 10 political a.
taCbments or partisan bias W. uid natural 3
desire to be informed which Of the two parties
is most in accord with the Universal aspira-
uOn OF the honest mas es OF thc people o.
every section and party fof beIer
ana pnrer administration Of the gov
1 1 this grave political emergency, MT Only as
a representative of the people in the Federal
Legislature, not es partisan, but as an Amsrl-
can citizen deeply concerned for the honor OF
my country and the well-belng OF It's people
to contri butte some Ii lie to that fund OF polIu-
cal inform alton now GelnH dCCum ulaJeO rom
every available source, and upon which the
honest seeker after truth may 4W in re 1ch
ing his conclusions. In doing this shall not
assail with indiscriminate denunc1ation evely
mem per- nor even every official OF the polili.
cal party TO which l am opposed; m IRE just
than many of IT'S leaders have proved them
selves u be, l am willing to believe that
majority Of their followers are honest; more
tolerant than they are, regard 1t as no sin
for others to differ with me in political opin
loI S. / think there are but few Republicans
who are Guainted with my form ar political
conduct and utterances, who will not con-
cede that my criticisms OF their party vii. be
as Just and impartlsl, and my judgment Cf It's
actions as Tolerant aud charitable, as they
could expect at the hands OF a Political foe
man While shall after no word Of otfense
To any honest Republican, l shall feel
it my solemn duty 10 pursue u ith
unsparing vengeance the official
thieves and public plunderers
their midst, and have found sanctuary and
protection in the bosom of their party. Nor
shall | say single word not warranted by
fac clearly proven, nor make n single state
ment tae Truth of Ich cannot be established
by the testimony of Republican witnesses, o;
by evidence OF more conclusive and iudis-
putable char cter. shall prefer no charge
against the Republican party that has not
been preferred by its own membtrs. l shall
lay no sin at its door OF which its own mem
bors nave not said IL Is guilty have higher
object in view than mere pa Gy supremacy,
and that object DO not propose or expect TO
attain hy pronouncing unmerited eulOgies
ton against the otSer one, A y iitical parry
that is not based upon some great and SUBJ
stantial principle, that is not h Id together by
some common aspirat ons 10. honest pat lot
ism, and which is not guided aid directed by
some fXeS and definite object, can effect no
public good, can only he productive of evil,
and must eventually die by The poi. on of its
own corruptIcp. Such an organization is
the Republican party of this country.
Born amid the darkness and glolm that fol-
lowed tf.o close of a great war, and owing its
Tarentase to the hatred and evil passions ELL
g4ndered by the fierce struggle in which three
million of those who sh 1uld have been BROTH
ers grappled In deadly combat, its mission
has been an evil enc. In its public ministra-
tions it has dwarfed every Interest of the PeO-
pie, save that of the favored few who h we
been tue recipients OF It's prohlgate bounty.
1t has blighted every promise of returning
prosperity 10 people whom 1t has eGSlaveu
10 the inexorable tyTanny OF poverty, want,
and unreauited toll by system of legislation
and the enactment OF a series of laws marked
by evidences of corruption and a want OF
craftsmanship that have no parallel in the
history of evil deeds. Its Influence and eX-
ample has debauched the public mind OF the
country, made official peculation respectable
in party estimation, and made public nilfer-
ing party virtue to be rewarded by political
promotion. II has fostered fraud, prOtiigacy
and c-im6 in the administration OF nigh
truss, involving the nations honor, and bas
allowed corruption to stalk through the halls
of the capital, and find con.tant lOigment
in every department OF the government and
in the household of almost every
legislative and executive dep iItment of the
government. laws OF The most unwise and
hurtful kind wete enacted by the employ
ment OF the most shameless ard disgraceful
agencies. Laws which by their fleet built
up and enriched powerful corporations at the
oTeefsh exegahssd sdow % every e H private ann ana pubic
Interest. The first one OF these evi!
and peTniCious measures which, early in
the reign of Inc Republican party engs ged
the attention of a Republican congress, was
what IS now known as the gold act OF 1863, by
which it has been computed that the speca-
iaioTs in the credit OF government
realized a profit OF many millions
OF dollars. In this ac5 tie govern ment
became bound 10 pay IN coin elf OF
such obli cations as were expressly declared
by the laws that created them TO be pay able
in any other currency than gold and silver
at first glance the real OBJECT of this law and
the influences which led TO its passs ge mey
not b. apparent, but a close examination and
review of former legislation Will reveal them
Soon after the com nencement of the war; and
at different times thereafter, the government,
in order to furnish means for its prosecution,
amount of many millions of dollars
and put them upon the market
for sale Most Of them were pur
chased by capitalists in New York and other
eastern cities at a rate much below their face
value, as compared with the stand ard value
OF gold and silver coin. The investment
proved to be one of great value to the pur
chasers, even before any special legislation mad
to make it more remuneratlVe. For as the
success of The government in the suppression
OF the rebellion became more assured in the
progress of the struggle. theSe bonds began 10
enhance greatly In value; and, finally, upon
the complete triumph OF the Federal armies
and the overthrow of tie ConfederaCy, they
had increased in their standard OF value
greatly in excess of what IL was at the time of
their issuance and sale. II was not declared
in the act OF congress which authorized the
creation of these obligations, nor was 1t con-
templated by either lie lawmakers or the
pure hasers, that they were 10 be paid in any
hon Ia
OF the government. If there could have been
any DOUBT of this proposit. on, 1t was removed
by the law which provided for the Issuance OF
these notes, in which 1t is expressly declared
that they should be receivable in
payment of all debts. public and
private, except for for ,bIfap import p6bt 5 dqties t6
indorsemept of this provision OF the law en-
graved upon the bacK of every legal tender
note in existence is a standing refutation of
any different theory. This conclusion and
understanding was accepted and acted upon
by every body up 10 the meeting OF the re-
publican congress of 1869. In the meantime,
however, gold and silver, which had gone up
as high as 2i0 and 80 cents to the dollar as COM
pared with paper currency, upon the Iestora-
tion of peace and renewal TO some extent OF
fallen to ITO and 20 and l20 and l40
per cent, then it was that the hold
IrI Of bonds and speculators in gold COM
bined their Influence to secure the enactment
OF some law for their additional profit and s6-
vantage by which they might still further en-
ment and its people. The result Of this con-
spIracy was the introduction and passage by
congress Of the measure have mentioned.
But when the bill was first introduced It's real
purpose and the influence by which Its pass
age was sought to b. affected was SO manifest
that many Republican members met 1t with
the most act We opposition. Some of them
actuated, doubtless, by honorable and upright
motives, and Others, perhaps, by cOnsid6ra-
lions of different character; at least, tht at-
terwart gave in their support. such Repub-
lican leaiers as senator sherman. Boutwell,,
Thad ieus stevens, Benjam +. Butler, and
others, denounced lhe measure as IA fraud
upon the psople and the government, and
ONLY designed TO benefit the c4asS Of her sons
l have named, not heSitating to charge that II
was being urged by corrupt Influences Upon
the tes imony of witnesses like these, l sup
p,lse will give Offense to no Republtca when
/ ssy that this act is disgrace to honest leg
islaiion and q stain upOn our statute booSs.
By the passage OF this Jaw the burden of pay
ing a dept of more than fourteen millions of
dollars was imposed upon the people of this
country when il might have been discharged
in The currency hich they are by law COM
PEELED to accept in pay yment OF the debts due
Them, and that, tor, without any breach OF
public faith or violation OF national Obliga-
lions But this seemed to be q consideration
of small moment TO Republican congress, If
that class in whose interest they legislated
CDuJd only be enriched by tae operation. And
they were enFichea, !or both bonds and gold
again appreciated, and the latter then found
ready sale to European capil allstS, by whom
large portion of them are mel Today, and TO
whom we are annually pay ing tribute Of mil
lions of dollars in g Ii TO liquidaIe the accru-
ing interest This Is not ali, Tor we have Low
imposed upol us by law the obligation of pay
ing the prime pal also in gold when the deDt
natures, and no futnre legislation can relieve
us from this eXac lion, for our creditors pur-
..l.s. .Nv,ggl m No Taff of