Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1878-10-02

as to give the people assurance Of
stability in the volume of curreuc!
and the consequent stability in the
value.
No further increase in the bond
ed debt, and no further sale ol
bonds for the purchase Of coin foI
resumption purposes, but the grad
ual extinction of the public debt,
rigid economy, the reduction Of eX-
penditures in all branches Of the
public service.
That the Democratic party in
Congress has opposed, and the Re
publican party has passed all the
obnoxious measures which have
multiplied the wants and increased
the sulTrrings of the people. |
would have voted with the G3 Dem
ocratir members of Congress, who
in hopeless minority, in the session
of 1862 voted for the amendment
offered by Mr.. Holman, to the act
creating bonds that nothing in the
act should impair the right Of the
] States to tax the bonds and notes
issued under the act, and which
amendment was defeated by an al
most solid Republican vote.
| hold with the entire body Of
Democrats in the Senate and House
who opposed the national bank sys-
TEN, system calculated to perpct-
uate the public debt, and devised
by a party that 10y its action pro-
claims the creed hat public debt
is n public blessing.
| hold with the Democratic mi
nority who in the session of 1861
voted a solid "no" to the suppl
mental bank bill, an act intended
to foster and perpetuate the nation
al bank system upon n perpetual
interest bearing deht-and hold
with Mr.. Randall who undertook
upon the passage of that bill, TO
engraft upon it proviSo, that
banks organized under the act
should be taxed the same as State
banks, and though supported Ivy
the entire body of Democrats in
the House was by the arbitrary
ruling of speaker Blaine ruled ont
of order, and so defeated by the
application of the gag law.
/ hold with the entire body Of
Democratic members who in 1869
opposed the passage of that gigan-
tic fraud, entitled Gan act to
strengthen the public credit bnt
which was in fact an act to swindle
the people-declaring, rs it did.
that all the Indebtedness of the
country was payable in coin, and
adding 100000 to the public
interest bearing Indebtedness
passed under the gag rule of the
previous question, cutting off de-
bate, the Republican majority re-
fusing an amendment that it should
not apply to the 500 bonds which
were payable in greenbacl1s.
| hold with the entire body Of
Democratic members of both Hous-
es who in 1870 opposed the bill for
funding the greenhacks into coin /
bonds, which measure was passed /
by an overwhelming Republican
majority, and for the evils it 7
wrought that party is alone rcspon-
sible.
! stand with the Democrats who /
in 1870 opposed Sherman's PROPOSE /
ton to increase the national bank .
circulation SOL, 000,0u0, and the I
consequent withdrawal of that
amount of legal tender or green
back notes from circulation, and |
would have sustained Mr. Randall's
offered substitute, which proposed
to take up the national bank notes
and issue $300,000,000 in green
backs in their stead, ps was done 10y
almost every Democratic member
of the House.
/ believe with the Democratic
members Of the House in 1870,
who offered and unanimously sup
ported a resolution declaring that
the national debt should be paid in
strict compliance with the contract
whether made payable in gold or
greenbaclSs, and condemning the
policy of the Republican party Of
buying and converting the 500
bonds, which were payable in
greenbacks or their equivalent into
coin bonds, by Which millions were
lost to the people.
] believe in the resolution Of Mr..
Nicely, offered in 1870, and sup
ported 10y every Democrat in the
House hut two, (but defeated by
the Republican majority directing
the committee on banking and cur
rency to report a bill providing for
the withdrawal Of national bank
currency aud for issuing Treasury
notes known as greenbacks in their
stead.
The Republican party is alone
responsible for the act demonetiz-
ing silver passed secretly and fraud
ulently 10y the overwhelming Re-
publican majority in the Congress
of 1878, by which one-half of our
specie lost its value as a circulating
or a paying medium, aud one-half
the means of paying the public
debt was destroyed, and which was
the prolific source of the panic and
distress that followed as quick as