The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1878-09-24
CHANDLER.
Speech or Ex-Seeretary Chand-
Ter at Big Rapids.
a Brief Review OF the Einan.
ciai Question.
SOMETHING ABOUT TuU SOUTH
AND ITS WAX CLAIMS.


immense audience at this place thi
evening. His enthusiastic reception
shows that he was never more popula
with the masses than he is to-day
The following is condensed abstrac
of his speech. which was listened /,
with the very closest attention:
Mr.. CHAIRMAN AND FELLOW. .CITT
RRNs:-We are eutering upon one o.
the most important political campaign,
that this nation has ever seen. Issues
greater than those that stared us is th,
face during the war are before us. The
rebels who failed. after fighting foul
years, 10 get possession Of Washington
have, by ehicanery, shotgun policy
and fraud at last taken possession o,
the Capitol. Don't misunderstood me
| do not say that Northern Democrats
are rebels, hut every Northern Demo
crat who goes 10 Washington must go
into caucus. and that caucus is TODAY
controlled by rebel officers. / think
have not over-stated this. There has
been blunder committed somewhere.
new party has sprung mp which as.
sumes that all men are dishonest soon.
drels-that they want to cheat some.
body. In the days Of our Savior. and
we have reason to believe that he Sc.
lected representative men OF his time
among the IL fishermen he selected
there was one Judas; but ! think the
world is advancing in the scale of hon.
esty. Take men as YOU find them 10.
day and you will not find ] in II. on
| 4 IN II Lal -
! have had 40 years experience in bust.
ness and political life Qt is true nv as
sociafions in political life have been
largely with Republicans), and l have
generally found men disposed 10 be
honest. During the war was in the
habit OF loaning a great deal OF money
TO soldiers in hospitals whom i had
never seen in sums ranging from 81 "a
500. At one time these amounts
reached in the aggregate -. 500, and
yet every dollar OF these sums has been
paid except 81 30. Ii is a vile slander
TO assert that men are disposed to he
dishonest. Honest men may he de-
ceived, and 10 undeceive them is our
mission.
This new party now i'm the field in
different places assumes different names
as may best suit It's dishonest purpos-
-. IL is known as the Greenback par
~, the National party. and in other
places az the National Greenback par
". Who made the greenback? When
the Republican party came into power
| they found this nation bankrupt: It's
treasury empty aud ruined credit.
In February, 1861. its per cent.
bonds brought only ~ cents on the
dollar IN the markets Of the country.
We had neither money or credit. IN
! April, 1851, i recommended to the Sec
retary Of the Treasury 90 issue what
subsequently, became the greenback.
In the fall Of 1861 We paid onr soldiers
in gold. but when the banks and the
| private citizens could loan us no more.
we were compelled to do something
else. We owed $40, 900, 600 Of war ex.
penses besides large amount that was
due the soldiers for their services, ana
all this with an empty treasury. In
| this dire extremity the Government is
sued the first fifty millions Of green
backs edeemable in six per cent.
| bonds. When this was exhausted a
hundred millions more were issued and
so on a. the necessities for more money
came upon US. Every dollar Of this
was issued however with the solemn
| pledge Of payment, aud WE WILL re-
| deem that pledge. The fathers and
vet nurses Of this new organization
reckon on finances in this manner:
| nl,ed States notes In circulation
January 20 1864 ..........,. @42l 600 900
| January 20. 1863. ............... $1,000 600
| October. 1875 ACKNOWLEDGEMENTS. f2S, coo OOO
| January, 1865 -..-...... 429,Op0oOO
Making total Of. .... ..,.Sl, ,.Gs, 600, ,OOO
In a similar manner they represent
our other issues and statements Of in
debtedness.
Let me illustrate and show the falla-
CIV Of this kind of figuring:
On the first day of January, 1874,
| the census taker comes along and en-
quires as 10 the members OF your fami-
ly. and you respond, "a wife and eight
children" January LIST, 1876, he calls
again, and you answer as before, "a
wife and eight children. January lst
1876, he comes again, and you answer.
"a wife and nine children" He comes
again in 1877, and you make the same
report. Now figure these upon the
principles adopted by these new finan-
ciers and you will be surprised to find
yourself possessed of four wives and
thirty-four children.
Now / should think You Greenback-
ers would hang your heads in shame TO
peddle ont such doctrines rs these. I
was in business. as probably some of
Won were, in 1887 You remember that
Michigan borrowed largely, and pro
jected n system Of railroads, but a
crash came, and with IL the cry for
more money. The Legislature charter
ed large number OF banks, but they
| failed To meet the entire demand, and
| the State began 10 issue its scrip-fat
money, which have repeatedly sold
| for 81 cents on the dollar. have sold
l the Detroit scrip also at only 80 cents
on the dollar. Following these come
/ the wildcat banking law, and money
was plenty, but the currency of hardly
any two banks bore the same market
price. This bubble finally burst with.
ont a dollar Of this money ever being
paid. The bulk Of this money was fin
ally found in the hands Of the poor
man, who will always be the loser in
this class Of cases. Ny entire losses
on the wildcat currency would not ex-
ceed 5000. So disgUsted were the peo-
Pile with the experiment they had made.
that IN their constitution they provided
| that no bank should be chartered by
Legislature. When you CRY for money
let it be for good money. Tho Repub-
lican party stand sacrcdly pledged 10
the redemption Of its currency and we
are within one-quarter Of a cent 81 re-
deeming the pledge. J was at the birth
Of the greenback and helped 30 nurse
the nursling.
You hear great IDEAL said nova.
days about the bloated 0ondholder.
Why every laboringman. and every
poor widow on orphan child who puts
dollar into saving bank is a bloated
bondholder, for every we'll managed
saving bank finds the safest Investment
of It's surplus funds in Governmen,
bonds. The emigrant Who comes d
our shores with his little savings OF
sjo or 800 will be found in possession
of one or more Of our bonds. When
was in Europe few years sgo step.
ped into n small shop 10 get some
buckwhcst cakes, Of which am yer,
fond, and the woman tried 10 tell m,
something. but was unable 10 under
stand her until n friend with me cx
planned that she was endeavoring q
tell me that she was the y SCISSOR Of
e1OO United States bond. Yes: sh,
! was one of the bloated b0ndholders
Your Secretary Of the treasury will tel
you that our bonds are chiefly held b,