The Portland daily press., 1879-08-15

t | SPEECH OF GENERAL MATToCKS.
0 Mr.. President and Gentlemen Of the Club:
For the wholesale Endorsement that have
received do not hold myself responsible, and
1 much must be credited to the friendship which
has long existed between your president and
myself. l do not regard myself as deserving
of credit for doing what was my duty to do.
The time has come for every man to
take part in this campaign which is
to be short, sharp and 1 believe decisive.
| (Applause) 1 am not here for the pur-
pose of attempting to make converts, because
it is understood that we are all Republicans
l believe it to be our duty to engage in this
struggle in order to save the nation from loss
and dishonor. l am not one OF those who be-
lieve in saying that there is no cause for COM
plant, but l do say that we are not to find
relief through the instrumentality of this
newly formed party. The time has gone by
when we can pass the Greenback movement
with ridicule, knowing that their principles
are unsound, and ours sound. There have
been hard times, and the Greenback party was
founded, and exists on the misfortunes OF the
country. We have had business reverses, and
that fact has been made the grounds OF an ap-
peal to the laboring man. 1t is said that the
Republican party is to be blamed, but have we
any cause to distrust it? We found when the
Republican party was opposing the rebellion,
another party declared the war was failure,
and that party was the Democratic. l know
that there were honorable exceptions, but the
disloyal element was during the war embraced
within the Democratic party. The Greenback
party, born of our miSfortunes, and nursed by
our reverses, faces us, and we must fight it.
| We can take care of the Democratic party, as
| we have in the past. (Applause) The Green
| hacker asks us to refuse to pay an honest debt.
We were forced to pledge the nations credit in
the dark days when we needed money to pay
our soldiers, but gentlemen, the Republican
party pledged its credit to pay the notes so
issued, the debt so contracted, and it is doing
it, and this Greenback party comes forward
| an6c oucc tnr
paid. The Greenback leaders one year ago
| told us that resumption could not be effected
without general Distress if not absolute ruin,
and yet we had, even before the time appoint
| ed, to all practical purposes, resumed. Legis-
| lation alone cannot remedy all our political
evils. We were doing business in the
years Immediately following the war in
an un-busness-like and feverish man
| ner, and the hard times were the legltl-
mate result. How many men who have
left the Republican party, have done so be-
cause convinced by calm and logical reasoning?
| Have they not rather said to themselves
'times are hard and the Republican party has
long been in power; perhaps if this new party
comes into power times will improve" This is
unjust. 1t is ungenerous. The Republican
party constantly supported the war and it has
| placed us high among the nations OF the earth.
| Does it not seem strange that the Democratic
party, which in time of war so bitterly opposed
paper currency, should be so staunch a friend
and Jealous an advocate of the greenback dol |
lar in time of peace.
The Greenback party demand the immedi-
ate payment of the bonds not yet due, and yet
we can force no one, be it widow, orphan, sol |
dier or banker, to sell their bonds Our enc
mics assail the national banking system, but is |
it because the Republicans chartered these
banks, or because it will not violate solemn |
contract with them? The Republican party is |
not welded to the system. When the bonds |
become due we can pay them. If there is any |
better banking system we can adopt it, but |
ha i,,,,,,n To andp
mediate cause of complaint The Republican |
party will not again let the old state bank sys-
tenn involve the country in universal bank !
ruptcy.
publican party, except that it has from the be- |
ginning lived up to its solemn engagements? /
Applause) Have we not treated the South |
with enough tenderness? "a voice, "With too |
much. y Yes, with too much. Men sit today |
in Congress whose only claim to that posi- |
ton is the fact of distinguished military SER
vices in an attack upon the government which
they now profess to serve. We do not COM
plain because more Southern than Northern
soldiers participate in the councils of the
nation. All that we ask is that the |
elections in the South as well as North shall
be held with some pretence OF decency and
due regard to the rights Of legal voters. ZAP
plause.) The Republican party has not been.
and will not be, dictated to by brokers Or
bankers, and this talk Of putting down the
money power is the merest demagogism. Ii |
the time ever comes when the Republican
party must die, we will say 'Well done thou
good and faithful servant. But that time
has not yet come. 1t is no easy matter to as
sail political party for attempting to pay an
honest debt, and meet its solemn engagement. |
I congratulate you that men who from their
age might have been excused from the tire
some work of political campaign, have vol
unteered for this fight. We are fighting
combination that has been formed, not in sup |
port of principle, but to secure few paltry
Loft T do moi and hour |
business man can bring himself to support
these wild financial views, which if successful |
would stop all progress and put us back where
we were fifteen years ago.
But, gentlemen, this is a business meeting |
and not one for listening to speeches, and I
will no longer trespass on your time, but
thank you for your kind attention.
On motion of Mr.. James Bailey an invita- |
ton was extended to General Mattocks to
again address the club at some date vet to be
fixed.
Mr. Strout then addressed the club, making
an earnest and effective speech.
SPEECH BY A. A. sTRoUT, ESQ.
Mr.. Strout made his chief point on the de-
preston of business, which has been and is
one great point made by Greenback orators.
1t is here, said he, THAT we have passed through
the collapse which followed the immense
|
rise to great extravaganza and encouraging
over-production, and to-day we are once more
on the road to a substantial prosperity such as
this country has never before seen. We are
emerging from the shadow and have started
on the basis of a stable currency. By the
superior excellence of our machinery and in
creased skill of manufacture we are enabled to
compete successfully for the market of the
world. We send the products of our looms to
Manchester, England, and we are enabled to
sell our goods in China and India. In addi-
ton to this whilst European crops have been
blighted the magnificent levels extending
from the great lakes to the Rocky Mountains
as well as California, have been loaded with
the abundant harvests of wheat and corn such
as this country has never seen before. From
these sources and from the alb undant mineral
resources of the country we shall be enabled.
according to the prediction of men competent
to Judge, to manufacture and raise and send
abroad 81 100000 900 more than we shall buy
of foreign countries. Last year the balance Of
trade in our favor was nearly $500, 100000 but
whilst the country was so much richer by that
amount it was not perceptibly felt in the coin
measure by the bonds held in foreign
hands upon which we were paying in
terest. But now this source has ceased
and this mortgage upon our industries has
been taken back upon our own hands, And it
is estimated that this year of the 81 900 OOO- !
600 OF our foreign trade, at least one half, or
$500, OOO, 900, will be paid in coin, which will
furnish all, nay more circulating medium than
the business of the country will require. Zap
plause) This said Mr.. Strout. is initiation in l
the right direction. 1t is founded upon the q
laws Of trade, and the very fact that we have ,
a stable currency, recognized as the equal of
any on the face of the earth, enables us to
command these markets and afford employ Z
ment in our mills and factories to the falling :
masses whilst the mills of Europe stand still Z
and their operatives are asking for employ.
ment and bread. If you have currency t
which nobody recognizes but your own people,
and by Thorn only at deprecated value, you
shut out commercial exchange and destroy
the industries which form the springs of real
prosperity. In view of this condition of things j
It is as impossible for our Greenback friends to
stop this tide. of prosperity and send ms
back to the old fever of initiation and disas+or