The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1879-08-21
The DishOnOred Credit of the
Republic in 1860.
The World Begging for a Chance TO
Buy It's -Four Per Cent. Bonds
in 1879.
The Marvellous Growth of the COuntry's
Productions in Is Years.

only way to secure purity and prosperity is to
reinstate Democracy in power. A stranger to
our history, listening to the speeches from the
other side, might conclude that the country had
always been peaceful, united and prosperous
under Democratic rule, and that political and
industrial ills came only with the advent Of
Republicanism. and can be cured only by it's
overthrow. 1t is my purpose to review in the
briefest terms and in the most direct mannerI
can command few prominent and well-known
facts bearing upon this assumption In doing
SO 1 shall contrast the political, financial and
industrial condition of the country under DEM
ocratic and Republican rule
DEMOCRACY IN NEUTRALITY-SUSPICIOUS. IN 1879.
Prior to March 4, 1861, Democracy had held
substantial sway for more than thirty years.
True, the Wings had twice elected their Presi-
dent but in both instances death and Democ-
racy had soon captured the administration.
Since March 4, 1861, Repubicanism has gov.
erned the country. The principles and poll
cles OF the respective parties, during these
long periods Of uninterrupted administrative
power, bore their legitimate fruits We may,
therefore, very properly contrast the results of
Republicanism, as exhibited in 1979 with the
results of Democracy as shown in 1860. By
their fruits ye shall know them.
Democracy assumes control Of nation
strong, united, and prosperous, respected at
home and honored abroad. Having ruled for
thirty years, it surrendered to the Republican
administration country distracted with civil
war, dsmembered by secession, dishonored by
treason in high places, and bankrupt in money
aud in credit Do I state this too strongly?
11ri0 IN Il
Seven States had seeded.
A hostile government had been fully organ
lied within our borders.
A hostile Congress had been in session for
month at Montgomery, Ala.
A President and Vice President of the Confed-
eracy had been inaugurated.
Levies of troops for the overthrow of the
Union had been made, and hostile armies were
marching upon our national capital.
Fort Moultrie, Castle Pinckney, Fort Pulaski,
Fort Morgan, Fort Jackson, Fort Philip. Fort
Pike, and Fort McRea had all been captured by
rebel troops moro than six weeks before the
last Democratic administration expired
The United States arsenal at Mount Vernon,
Ala. with 2OO, COO stand of arms, had been cap
tuned two months before the Republicans came
into power.
IT, e Pensacola navy yard the Baton Rouge
arsenal, the New Orleans mint aud custom
seized by Confederate troops, more than four
weeks before Lincoln's inauguration.
The United States steamer Star of the West
had been fired into by rebel batteries when at
tempting to furnish supplies to starving United
States soldiers at Fort Sumter
The rebel, Gen. Twiggs. had surrendered the
United States troops and transferred The United
States property in Texas to the State authori-
ties.
A o1o1 W. l,i
of the nation South to arm its enemies
A Democratic Secretary of the Navy had Or
dered our ships to the end of the earth, so that
they should not be available to defend the Union
against its foes.
And, most disgracefuJ of all, Democratic
President. backed and Endorsed by the great
body of his party, had proclaimed to the world
the dishonor aud impotency of the nation, by
declaring in his annual message that no power
had been delegated to Congress, nor to any 9TH
er department of the Federal Government, to
coerce seeded State.
Mr. President, all these crimes have been
committed by Democrats under Democratic
administration, and with the sanction of the
very men to whom the guardianship of the re-
public had been so long intrusted
What had Democracy done to save nation,
Of treason and the distraction of civil war?
Nothing: absolutely nothing To a nation in
the agony of despair, and rapidly nearing the
vortex Of utter ruin, what word of hope or
courage had it uttered? Not one. For the en-
emies of the country what words of rebuke had
it spoken? None. Its condemnation had been
only for those who sought to save; it's encour-
agement for those who would destroy.
Such was the legacy of treason, civil war,
secession national impotency and dishonor be-
queathed from thirty years of Democratic rule.
Such were the conditions under which Repub
lcanism took control Of the Government, and
the extreme peril from which it rescued the
nation. Three months more of Democratic
rule, at that time, would have been utterly
fatal. and the great republic would have been
numbered among the things of the past.
From these perilous depths of treason, i'm
becility and dishonor, the Republican party
has, through eighteen years of incessant strug
gle with the evil spirit of Democracy, brought
the country to its present condition.
Contrast the grandeur, greatness and glory
OF the republic in 1879 with it's impotence and
shame in 1860. and you will, to some extent,
measure the relative claims and merits Of the
two parties.
A FINANCIAL CONTRAST.
MIR. President, next invite attention to the
financial contrast presented by Democracy in
1860, and Repubicanism in 1879.
Let me read a letter from the Secretary of
the Treasury, which states, in concise form, the
rcsuIt5 Oh DeIQOCraGlC IlDanCl6rlnS.
TREASURY DEPARTMENT, WASHINGTON, D. c.,
Sept. rs, 1878.
SIR: am in receipt of your letter of this date,
asking for a statement of the loans made by the
United States i'll the fall of 1860 the winter of
1871, describing the bonds, the amount sold, and
the sum per cent the Government realized.
In reply thereto, I have to inform you that un
der the act of Dec. II, 1860 az stats 121 treasury
notes issued. redeemable at the expiration of
o..e year from date, bearing interest as follows:
$U20O at per cent. S. 00O at per cent S24 800
at per cent. $33, GOO at 81 per cent 600 at
81 per cent. $4,000 at per cent, $4,000 at %
per cent $16O.O00 at ~ per cent ST 600 at AZ
per cents ST 02500 at 10 per cent $266, 0e0 at 10
per cent $623.000 at 10H per cent, s1.367 600 at
10A per cent 81 422 700 at II per cent 81 $40 900
at u per cent-making total of $40 010 800.
Additional offers received. ranging from Is
to 36 per cent. which refused.
Under the act Of February s, 1861, IL stats, 1897
authorizing loan of $25. 100000, bonds of the
United States, bearing per cent. interest. having
twenty years to run, were disposed of to the
amount of $1S 45o, 0O0 at aggregate discount of
$2,09,77610 or an average rate Of $S9.10 per
$40.
So low had the credit of the Government fallen
that the Secretary of the Treasury, in January,
1861 suggested to Congress, as financial resource
that the several States be asked security for the
payment of any money the Government might find
it necessary to borrow to pledge the deposits re-