The patron of husbandry. (Columbus, Miss.) 1875-1883, 1879-08-09
From the New Haven Union Conn
GEN. EWING HEARD FROM.

oL4S Il w Inv r
All the rumors regarding the probable
attitude Gen. Ewing would assume in the
Ohio canvass have been set at rest by the
speech which that gentleman delivered at
Lancaster, Ohio, last evening, in response
to reception rendered him by his neigh
bors and political friends He has not
lowered his standard..in the least, but is, if
possible, a more aggressive Greenback ad-
vocate than ever. He puts the financial
question: first and foremost above all 9TH
ers, and declares that he is ready to abide
by the result, as principle is dearer to him
than office
The speech is really a reply to John
Sherman's effort at Portland, and he does
not leaye the willy Secretary peg to stand
on. He shows that Republican extrava-
gance alone has made the public debt
$345, 100000 greater than it should be, to
say nothing of the increase in the interest
and principal caused by the resumption
policy. He is so clear in exposing Sher-
mans claims regarding the funding ope-
rations that we quote:
ssMr. Sherman claims great credit for
having successfully funded $4,000, 900
of the public debt into s, Al, and per
cent bonds since March a, 1877, reducing
the interest paid by the Government about
$Io,ooo,ooo year. 1t appears, however,
BY the finance report that the interest on
the public debt paid in 1877 was $o7, 1a4,-
noa-a.aa iset year SIo2, ,5oo,oco, and this
year SIo5, 100000. In other words, in
1879 and 1879 over $I3,ooo,ooo more of
interest on the debt has been paid than
when Mr.. Sherman took charge of the
funding operation. That large sum is
what the operation cost. 1t is made up
of bonuses in the shape of double interest
and of commissions paid to the syndicate.
Meantime Mr.. Sherman has increased the
the principal of the bonded debt $4,000,
900. 1t will take the savings of interest
by refunding for eight or ten years to pay
off this increased bonded debt and the
bonuses and double interest and get even
on the entire operation"
General Ewing next demonstrates why
the four per cent, bonds have been so rap
| idly taken up. 1t is because they are
practically six and half per cent, bonds,
being exempt from about two and half
| per cent of taxes which .othet property
| paws and because the industries of the
country have been so broken down that
capital had better get six and half per
cent, assured by the Government, than
risk an investment in almost any industrial
J pursuit.
''Is it a great achievement to have in
! dustries perish for want of money in or
der that they may go into untaxed Gov
ernment bonds2 Suppose Mithoff and
Whitley here in Lancaster should close
their shops and turn out of employment
several hundred men and invest their cap
| ital in untaxable bonds. Would you feel
that to be an evidence of public prosper
ity? Would you throw up your hats for
| Mr.. Sherman and his funding scheme?
Yet this is just what has been done all
over the United States. Silent mills, fire
less furnaces, scanty wages, want of work,
swarms of tramps-all attest the success
of Mr.. Sherman in so shrinking and di-
minishing the business of the country, the
wages of workmen and the profits of cap
| italists engaged in productive industry,
| that money, accumulating in hordes and
fearful of all other investments, was eager
to take the six and one-half per cent of
interest and exemption offered by the
| Government rather than embark on the
| dead sea of industry. I venture to say
that the people of the United States have
lost in aggregate wealth in the past five
years through the prostration ofindustries
brought about by the Republican finance
policy, three Or four hundred times more
than the nominal annual saving of interest
which Mr.. Sherman will accomplish by
his boasted funding" u
General Ewing pays attention to the
claim of the Republicans for popular en-
dorsement on the plea that they want to
| leave the finances alone, and shows by the
utterances of Sherman and others that the
Republicans intend to meddle with pres
ent laws if they have the power. They
are opposed to the present limited coinage
of silver and demand the repeal of the law
providing for the coming of two million
! standard silver dollars per month. The
Republicans favor the gold standard sole
ly, and therefore must be opposed by al
| who favor the double standard and who
would continue turning out s'the dollar Of
our daddies." General Ewing says the
! Warner bill for the unlimited coinage o.
silver .swill pass the Senate next Decem
Der in spite of the opposition of half Z
dozen National bank and gold standard
Democrats"