The daily gazette., 1878-09-11
General Speer'S Speech.
(coScLUDED.]
THE NATIONAL BANKS.

A continuance of the natio nal banks
means the perpetuity of the national
debt. 1t Is dever to be paid! Is that the
doctrine of the Republicon party in
Pennsylvania? The farmer or the me-
chanic never feels that his home is secure
while the NOR gage remains unpaid. We
have mortgage upon the nation of over
two billions, and We now and then hear
It whispered that 1t is national blessing.
To the holders of our bonds exempt
from all taxation 1t may be so but to the
millions OF taxpayers, If blessing, 1t
comes in sad disguise. Syndioates and
rings may sing its praise but the people,
bending beneath the weight of lis con-
suming burdens speak truer voice. 1t
Is the right of the nation to change the
system, and no one can be misled, for the
law authorizing these banks expressly re-
serves to Congress the right to alter,
amend, or repeal it at any time. In MAX
log the change invested capital should
be protected and no shock should be CIV
en- to the business of the country.
The Treasury note, issued by the Gov
ernment and based upon the entire
wealth of the nation, should take the
place of the national bank note, under
safe and proper regulations of law; and
thus there would ie annually saved by
the people from fifteen to twenty mil
|
dishonored by the Government by its re-
fusal To accept it for any debt where the
contract creating the debt does not pro-
vide for payment in com. If Republi-
eau Congress and Republican President
could make the grseuback legal tender
tn the soldier and the sailor, the widow
and the orphan if it was money to pay
for the blood of half million of our
bravest and best, who died that the pa-
ntfrhf HxrA rhyro oh "A L.,
Government accept In payment of its
own customs dues? Are life and limb
less sacred than tariff rates? No human
language can estimate the wrong done by
this degradation of the peoples currency.
Year after year the Democrats in Con-
gress have tried to redress this wrong but
as votes are there counted, and not
weighed, they have thus far failed. But
the day of the peoples del vtrance draw
eth nigh, and this shame of our national
legislation will soon be blotted out, and
after IL shall have been buried with the
political crimes of the past, the wonder
will be that such injustice could ever
have hau defender.
RETRENcHMENT ACHIEVEMENTS.
While the net ordinary receipts of the
Treasury since the Republicans have
been in power are over 5000, 900 900, a
very small portion of that sum has been
applied to the payment of the national
debt. After paying the interest and
pensions, most of the balance has been
expended in defraying the current ex-
pepses of the Government. With $4,000
Federal otfice-holders and vast appro-
priations for the army and navy, the
burdens of the people remain but little
less than at the close of the war. After
500, ,000, 600 expended for the navy, it is
not now tit for active service. That ex-
travagant expenditures have been made
the following statement will show
Appropriations by the Forty-third IRE
publicau) Congress were:-
1875 Sl84, ,304, ,787 OS
1876 177,370,687 81
---S361,6 1854
By Forty-fourth (Democratic) Con-