Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1879-07-28
RESULTS OF REPUBLICAN RULE.

livered recently in the U. S. Senate and
printed in Congressional Record of June
26th, IS worthy to accompany that of
Senator Morrill,, as source of informa-
tion for voters and students of our polit-
ical history. Mr.. Window first portrays
the condition of things during the last
few months of Democratic rule in
1860-6l-the secession of seven States,
the organization of a hostile government
within our borders, the seizure by the
rebels of the national mints, custom
houses, arsenals and forts in the South,
the dispersion of our navy, and the i'm
potency of the Democratic administration
to do more than proclaim the helpless
ness of the country before its internal
foes. From these perilous depths Of
Jreasuu, imbeclIity and dishonor has the
country been gradually lifted by the Re-
publican party through Is years of in
cessant struggle with the disorganizing
and demoralizing efforts of its rival.
Summarizing the results of Democratic
fnanciering, Mr.. Window shows that
the Treasury notes issued under the act
of December IL, 1860, redeemable at
the end of one year from date, were
placed at rates of interest varying from
6 to IL per cent. Only $1O,OOO,OOO
were disposed of, as the propositions for
additional loans ranged from Is to SO
per cent. interest, and these usurious
offers were rejected. The act of Febru-
ary 8, 1861, authorized loan of $685..
100000 at per cent interest, with 20.
years to run, but Of these bonds less
than SIS, 100000 were disposed of, and
those at an average rate of $89.10 per
500. The national credit had sunk SO
low that In January, 1861, the Secretary
Of the Treasury suggested that the sever
al States should be asked to lend their
credit to the government. Now the
nation which in 1860 could not borrow
enough money for its current expendi-
lures at IL per cent. interest, is selling
its per cent. bonds at l03. In 1860,
the Republic was begging for an indorser
for its dishonored credit; in 1879, the
financial world is begging for a chance
to buy its four per cent. bonds. "If, in
1861" said Mr.. Window, ''a 6 per cent
one-hundred-dollar bond, having 20
years to run, sold for S89.10, on the
same basis of investment one-hundred-
dollar 28-year 4 per cent. bond should
now sell for only $48.8l, instead of
slO5, the present market price. The
verdict of the financial world, therefore,
is that the credit of this nation has ad-
vanced over 100 per cent. under Repub-
lican rule. This statement, however,
falls very short of the whole truth, for
in 1860. upon proposed loan of $685.
100000, only Sl8,4l5,O00 could be
sold, while in 1879 offers have been re-
ceived amounting to over Sl50.000,000
in single day." If it is said that this
contrast is unfair because great wal
was impending in 1860, the answer is
obvious that both the war and the bank.
ruptcy were the fruits of Democratic
rule. Furthermore, from 1857 to 1861,
in time of peace, Democracy trebled
the National debt to meet current ex
penditures, while in the last eighteeI
years Republicanism has paid at leas
three millions of the cost of saving tht
Union.
Mr.. Window proceeded to give re
view of the astonishing material and in
dustrlal progress under Republican rule
1t appears that during the past lS year.
the increase in the exports of bread ant
bread-stuffs has been 644 per cent. /; o
wheat and wheat flour, 430 per cent.
of corn and corn meal, 1852 per cent.
of provisions, S45 per cent; in produc
tion of pig iron, $50 per cent. of rail
road bars. $50 per cent. in post-Ofhc
revenues, 243 per cent. in interna
commerce 800 per cent, while the popu
lation in that time has increased onl
about so per cent. What story d
these statistics tell of faithful admins
tration in the interest of the people |
an attempt to reply to Mr.. Window MI
Salisbury of Delaware unwisely referre
to .'the corruptions" of the Republica
party, whereupon Mr.. Window said
him: ssThree years ago had the hone
to ask the Senator from Delaware
name a single Republican official, who
the thirty-three Democratic investigator
committees had proven to have stole
one dollar from this government. L
failed to do it at that time; he has ha
three years to think it over; | repe
the question" Mr.. Salisbury declinir
to name even a single instance, M
Window repeated the challenge for tt
benefit of the Democratic Senators
general, inviting them to give the nan
of single officer whom the Democrat
with their thirty-three investigatiI
committees, at cost of more than
quarter of a million dollars, had detee
ed in dishonesty. Not name was gi
en- him. He then carried his unkindne
to the verge of cruelty by putting in