The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1879-07-31

long bonds OF 1881, issued before the Legal
Iender act was passed, and the 5-per-cent
p4nos issued under the Refunding act, all of
which are expressly payable in coin.
1t will be seen that this dogma demands that
we should violate the express stipulation of the
contract not only as to the time when the
bonds shall be paid, but as to the manner in
which they shall be paid. There was at one
time an honest dispute as to the terms and con-
dlnons upon which the $50 bonds would be
paid.
PAYMENT OF BONDS IN GREENBACKs
I have been arraigned RECENTLY in vopr city
for inconsistency, because, ten years ago. in q
letter to Dr. Mann, | insisted that by q fair
construction or the Loan act under which the
5-20 bonds were issued they were payabIe in
greenbacks. So did contend, and 40 saw
now; but also insisted that we were bound by
law and public policy after the war was over
to advance these notes to par in coin. and that
we could not take advantage of our own wrong
in postponing the redemption of United States
notes in order to pay our bonds in deprecated
and dishonest paper money, and this principle
was the basis of the act to strengthen the public
credit, passed March, 1869. Well, we have at
last redeemed our pledge to thenoteholder and
we have now paid these very $50 bonds in
United States notes with far greater saving
than if we had paid them in greenbacks ten
years ago, and with infinitely greater advan-
tage to the public credit
There is now no public debt about which any
question exists as to the terms and conditions
upon which it must be paid and yet it is pro-
posed to violate these conditions bv the whole
sale, and place the United States OF America in
q far worse position of dishonor and repudia-
ton than Mississippi or Louisiana or Egypter
Turkey
Is it possible to go further in the road of dis
honor than is proposed in these platforms?
And yet the Democrats of the State of Maine,
members of the old, powerful organization
which for half century controlled the des-
TIMES of the Government, are asked at the end
OF great war to support and maintain dogmas
which strike at the public honor, the public
faith, and all the cherished principles and aims
OF that party In its palmy days. You are now
expected to adopt the crazy dogma of extreme
opinions, at war with everything that was said
by Jefferson, or Madison, or Jackson, or any
of your time-honored leaders. Iknow that it
Is against the Judgment, against the instincts,
of old-fashloned Democrats to train under such
banner, and appeal to them now to come to
the rescue of their country-not to be carried
by party name or party badge to the dis
honor OF their country and the shame of their
children - --..5r
have sometimes thought that the Demo
Gratis of the Northern States have been led
through devious paths enough by the rebels of
the South in their effort to destroy the Govern
ment, and ID their later movements to sap and
mine all the great powers of the National Gov
eminent; but these extreme Greenbackers, as
they are called, ask you now to follow them in
voyage more dangerous, upon dogmas that
cannot meet the plain common sense and rea-
son OF patriotic citizens, such as compose the
great body of the Democratic party.
One of the members of Congress from the
State of Maine, the Hon. G. w. Ladd, is report
ed to have paid his attention to me in speech
in this city, in the following language:
"Mr Sherman has sold 81 on 900 0OQ IF Kbo
percent bonds in one day to. thebIood- suckers
who were choking the country, and he should
be impeached." d" u! -'&' = ~ '-.. p
By this act, in single day, the Treasury De-
partment saved to the people of the United
States the sum of $1,9OO, 000 +, The blood
purchased the $4OOOO,OO0 of ten-dollar
refunding certificates, who formed in long
lines in front of 500 postoffices in
the United States, each demanding the sum of
800 or less of those certificates in exchange
for United States notes, and the purchasers of
$15O,OOO,O 900 United States bonds taken by
banks to be sold again to citizens and corpora
tons throughout the United States and in Eu-
rope, bearing the lowest rate of interest at
which the United States has ever been able to
negotiate it's securities. The proceeds were,
within ninety days, applied to the payment of
bonds upon which, for sixteen years, the Gov
eminent of the United States had been paying
y POI CouV. III SOIu IuoS0 DlOOu-SuCk6rS'
are among the most prominent, and enterprls-
ing, and industrious citizens of the United
States, anxious and willing to trust the Govern
ment with their earnings, in the full faith that
the promises made to them upon their bonds
and certificates will be faithfully redeemed,
and yet they are denounced by this Congress-
man with terms of reproach, and I, for doing
what the law commanded me to do, and which,
proudly say, [ was able to do through re-
sumption and confidence in the public faith,
observe impeachment" There must be some
thing, fellow citizens, in this craze which de-
stroys the reason of men.
THE REPUBLICAN PARTY. '
1t is to support such dogmas, my Republican
friends, that we are invited to desert the great
party to which we belong. 1t may be that the
Republican party has made in the last twenty
years some mistakes. 1t may not always have
come up to your aspirations. Sometimes
power may have been abused. To err is
human; but where it has erred it has been on
the side o1 liberty and justice. 1t led our coun-
atty, which more than all else tended to make
it great and powerful. 1t has always taken
side with the poor and the feeble. 1t emanci-
pated whole race, and has invested them with
liberty and all the rights of citizenship. 1t
never robbed the ballot-box. 1t has never de-
prived any. class of people, for any cause, of
the elective franchise. 1t maintains the
supremacy Of the National Government on all
national affairs, while observing and protect
ing the rights of the States. 1t has tried
to secure the equality of all citizens be-
fore the law. It opposes all distinctions
among men, whether white or black, native or
naturalized. 1t invites them all to partake of
equal privileges, and secures them an equal
chance in life 1t has secured, for the first
time in our history, the rights of naturalized p
citizen to protection against claims of military
duty to his native country. 1t prescribes no
religious test While it respects religion for
its beneficial influence upon civil society," it
recognizes the right of each individual to wor-
ship God according to the dictates of his own
conscience, without prejudice AorD Interference
It supports the common schools as the basis of
Republican institutions. It has done more
than any party that ever existed to provide
lands for the landless. 1t devised and enacted
the Homestead law, and has constantly extend
ed this policy, 80 that all citizens, native and
naturalized, may enjoy, without cost, limited
portions of the public land. 1t protects Amer
lean labor. 1t is in favor OF American indus
try. 1t seeks to diversity productions s. 1t has
steadily pursued, as an object of national, i'm
portance, the development of our commerce on
inland waters and on the high seas It
has protected our flag on every sea; not the
stars and bars not the flag of State but the