The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-10-02

pay the losses incurred by rebels en-
gagged 10 effort, by force Of arms, to
destroy the Government. And you
may rest assured that the door will
be opened if the Southern Bourbon
Democracy shall ever regain the
power in the Government which they
held before the war and which ena-
bled them then, as il would again, TO
dictate terms to their Northern al
lies.
THE FINANCIAL ISSUE.
The Republican party points with
justifsble satisfaction to its record
upon questions of currency and Fl
nance. In answer to the clamor of
our opponents about these questions,
we appeal with confidence to an hon.
est aud intelligent people, and simply
ask for a comparison of our financial
situation of to-day with that of ten
years ago. The record is q in
which not only every Republican,
but every citizen as well, should feel
q just pride. The burden of U ma
tional debt has been steadily decreas-
ed. The aggregate Of reduction
since March 4, 1869, has reached the
sum Of S4s9,ss2, 735 l6, whereby
there is an annual saving Of $3l, POS
542 so in interest. The aggregate
of reduction since March 4, 1866, ex-
ceeGs the enormous sun Of over
SGT2, coo, 000-ahout one-third of the
present debt-anG secures an annual
reduction of interest Of more than
S4S, 000, 900. Our National credit
always the unerring test of the wis
dom and soundness of our National
policy-bas steadily aud rapidly i'm
proved until to-day, for the first time
in our history, We are able to borrow
money, at home or abroad, at 4 per
cent. interest; end the process Of
converting u 6 per cent. bonds into
4 per cents. is progressing satisfacto-
rally. The sales of 4 per cent.
bonds for sixty days past have aver
aged over $500, 600 per day. In
spite of Democratic opposition, We
have adhered to the policy of simple
honesty-tbe policy of keeping faith
fully the Nations pledges; the p)li-
cy of treating the greenbeek IS a
promise to pagan obligation, a
debt to be paid, not in another prom
Use, but in dollars, as plainly express
ed on the face Of the paper and by
this policy, and by this alone. the
money of the ~people-tbe greenback
has been brought substantially to
par with gold To show you how
the National credit has been pre-
served AMI improved, it is only ne.
cessary to state what the record
shows to be true, that since the To-
coming of the present Administra-
ton, the Government has sold at par
$500, coo, 000 Of Il per cent. aud
over 1929, 600, 600 of 4 per cent.
bonds, largely to our own citizens.
If this is not enough, let me call
your attention to the further most
significant and gratifying fact that
the premium on gold coin, which was
only one-half of per cent. | know
34i per cent, March 4, 1866.
aud which vas 3If per cent.
on March fonrtb, 1869, is now
well that these results have not been
reached without some shrinkage 10
values and consequently loss and
suffering but these were inevitable,
and happily the worst is over. We
are back again to a solid basis; we
are down to the hard pan" We
shall shortly specie payments,
thus releasing the specie of the Treas
ury, and then, with a circulating me-
dunn amounting to oyer nine hun
dred millions Of dollars that are
dollars" each and every one Of
which is worth precisely 100 cents,
we shall resume our upward career
of prosperity. The road to specie
values has not been, in all respects, a
pleasant one TO travel. We have
been compelled to come down from
very high horses; We have ceased TO
ride upon the wav Of speculation
and 20 revel in the excitement which
came with the war and remained for
q time after it al over, caused by
superabundance of currency CT un-
certain and shifting value-an excite
ment which was unnatural and
necessarialIy short : lived. When
were measured by g aCctuat-
ing currency of doubtful value and
uncertain quantity, they must, of
necessity, be fictitious. Let us re-
loiee that we are back again to the
safe foundation of stable, equal, and
honest dollars.
Nor have the "hard times" through
we have passed TO reach this
end been an unmixed evil. We have
learned by experience lessons of
economy. industry, prudence and tru-
which olF fathers understood
and practised, but which we had for
gotten, and should not have learned
any other way.
THE QUESTION OF THE HOUR.
The grea: question between the
Republicans and their opponents is
Having reached this sslid
having secured a currency
equal to and Interchangeable with
coin, shall we abandon it, together
with all hope Of resumiDg specir
and plunge again into an
uncertain sea Of imitation? Shall
ge have Cat money to be issued only
by the Government, and in such
quantities aud at soeh times as Con
yress may direct? Surely the peo-
pie of Iowa cannot long hesitate
about answering these questions.
To abandon the policy that has
brought US so near to perfect fnsn
ciel health would be as absurd and
as would be the act of a
just recovering from a long ILL
ness who should, of bis wi choice,
seek a relapse.
I
Feed q Little Corn Meal