National Republican., 1878-08-27

naADuhl nOUOT, un'l W u0NNuCt tur liNblslIlH
interests Of the country,while ths theory and
policy Of tho Democratic party has been to
belittle the National Government TO subordi-
nate IL TO the power Of tho States, to preserve
slavery, 10 leave industry without projection
aud support, and to sectionalize Into petty 7
the elements OF a great and pow
crful nation aud these are now and Will be In
tho future tho inevitable tendencies Of these
two parties.
The third objection stated by him to tho |
national bank circulation Is that II Is q special |
privilege and takes many millions out Of the |
pockets Of the people.
RANKS ENJOY NO SPECIAL PRIVILEGES.
This again Is untrue In point Of fact r.a !
illogical In argument The national bank
circulation Is not q special privilege, but Is
open to every association Of five persons that
may bc organized In any part Of the United
States. The same privilege might be granted
TO every individual citizen Of the United
States, but experience shows that corporation
Is moro wisely administered when II is com
posed OF number Of persons not less than five,
than when 1t Is controlled by a single person,
aud corporate authority Is essential to preserve
Its existence In case Of the death Of q partner.
THE REASON WHY BONDS ARE DEMANDED
us security IL because they are the best
security. But for this mortgage security or
personal security might DO taken; but as the
Government security Is the highest and hest,
this Is demanded, not for the benefit of the
Government, but for the note holder, for
whom the Government Is q mere trustee.
When tho Government pays to the bank In
terest on bonds held by II as a security II only
pays what Is Justly due and what u would
have to pay at all events to anybody holding
the bonds until they nre redeemed.
How II takes many millions annually out
Of tho pockets Of the people is hard to conceive.
No one borrows the notes of the bank unless
1t Is for his interest to do SO. The ability Of
the bank to lend Is n convenience to the Dor.
rover rs woll rs the lender. The Government
cannot engage Ia this busines, or loauing
money.
II GREENBACKs WERE SUBSTITUTED FOR Ma
TIoSAL BANK NOTES.
He says that the Government ought to issue
these notes. The answer Is that IL the Gov
ernment issues them II must undertake to
maintain them at par with coin, or else the
people must suffer from the evils Of an ire.
! deemable currency. The cost Of this redemp-
tion by tho banks Is already so great, before
specie payments have actually come, that this
so-called special privilege is getting to be
| special burden, and more banks arc surrender
ing their circulation than sre taking circula-
| ton.
Judge Thurman computes how much the
United States would save II 1t issued 1922 600, 600
more Of greenbacks and redeemed that amount
B
putation, but only wonder why he stopped at
| 22,000,OOO. Why not save the entire interest
of the public debt by issuing grcenbacks tor
the whole Of itP Why not ropudiato II at
oncep That would, according to his computs-
tion save the entire interest Of the public debt,
or $4,000 600, with no other loss than the loss
Of national honor.
TIMELY QUESTIONS THAT THURMAN SHOULD
ANSWER.
What ASSURANCE has he that S322. .0OO,O 900 will
satisfy the more advanced lights Of repudia-
tionH How will he pay out the Ss}22, 10000
Will he claim the right to pay the bonds at par
with tbemS Docs he deny the moral aud legal
obligation by which they are to be paid In
coinr Docs he propose to repudiate the act Of
ment Of such an issue would depreciate the
notes lower and lower, would widen more and
more the gap between the notes aud coin,
would revive again the distinction between the
bondhoder and noteholder-gold for the bond
holder and deprecated paper money for the
people. It would at once stop the funding
operations under which we save one third OF
the interest of the national debt. No man
would buy either q A or or 10 per cent.
bond in the face Of an act Of reputation.
After y further review Of the position o
Senator Thurman on the financial question, il
which the fallacy OF. an unlimited issue !,
fully exposed, he took up the charge Of fraud
| mhuc ny MT. luufInal, anu btlu
This declaration Is a gross injustice, and
believe Judge Thurman will live to regret tina
he ever made 1t. He was o member OF til,
Electoral Commission which passed upon til,
returns of the votes of electors for President
He knows that evey electoral vote Of ever,
State cast for President Hayes was received
by him without dispute, without any prcten
tion Of fraud or error except the votes OF Oregon
Florida, and Louisiana.
nnyruynp rIInrS'a AuySra ~ pnEgnS
In Oregon there was an attempt by ackuowl
/ edged agents OF Governor Tilden to cheat
, use the word in Its worst mcaning-the Re
pubicaDs out of that vote and to bribe an electo
|, and II failed In Florida there had been groa
Irregularities and frauds committed by th
Democrats which were met TO some extont b.
, frauds on the part OF Republican officers; bu
the evidence before the returning officers, a
, well as that taken In the contest for the eleC
, tion Of member Of the House Of Representa-
! tives, shows that majority of the votes !
. Florida were fairly cast for the Hayes elector
. DEMOCRATIC CRIMINAL CONSPIRACY IN LOT
IsIASA.
As to Louisiana. had better means of In
formation than Judge Thurman, and | say
you that the criminal conspiracy by the Demo
cratic party of that State to control tho elet
ton of 1915 so as to cast the vote of that Stat
for Governor Tilden has never been full
| told. IL e1tenucu 10 more tnhu ten phrisht
or counties, and held in absolute terror fiy
Republican parishes that had always since tn
= war given about 1000 Republican majority
. 1t led TO, and included In its plan and scop
y scores Of murders Of Republicans, white an
= . black, mainly intelligent black leaders Of thei
u race. 1t wounded, whipped, and maine
others, drove hundreds to the swamps
i night, and spread universal terror among tn
ignoront and suporstti0us people, who had til
!. same legal right, and better moral right
Q vote than their prosecutors whose hands wei
I only recently red with the blood shed in wa
a against the Union.
/. The Democratic frauds In Mississippi ALI
q bama, Louisiana, and New York wore p0inte
/ out, with tho following conclusion:
;. No intelligent man can doubt that IL In tn
o Cotton States there was an Opon fair oppOrtu
/, nifty to establish newspapers, to carry on
n canvass. and to appeal to the natural instinct
il aud interests Of the voters Of those States, b
II what u majority Of every one Of them wOu
d be with the Republican party.
Y PRESIDENT HAYES LABoRIsG TO DEsTRC
" sECTIoSALIsM.
: Tho policy of President Hayes, his earne
y desire and hope. is to destroy sectionalism,
, invite by kindness aud fOrbearance a Ill
i kindness and forbearance 10 tho Republican
. Of the South. II this effort fails, the Sou
. will be q slumbering volcano, which some da
. will break forth Ia retaliation aud crime. Fl
. free men having constitutional rights cam