The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1879-08-21

| SOl0mnly pTOpOSou bO ask G00 SJaIoS to become
| its indorser. | doubt if the present State
rights " majority in Congress could ask more
than this by way of national dependency and
| humiliation. Even the distinguished "arnbas-
sador from the sovereign and independentState
of Georgia" MR. HilD must have been content
| Pause and think of it for moment! This
great nation unable to borrow the needed funds
| Tor current expenditures, even at IL per cent
! INTEREST," 6-per-cent. twenty-year bond sell
| ing at S91 cents on the dollar and but few bid
de-s even st that ruinous discount! The great
republic, in it's extremity and humiliation seek
| ing an indorser for its dishonored paper! Then
| turn from these shameful consequences of
Democratic misrule and disloyalty, as exhibited
| in 1850, to the grand financial triumphs of Re-
| publicanism in 1879.
Mark the contrast In 1860 this nation, under
| Democratic rule. sold it's 6-per- cent bonds at
| 80 cents on the dollar. In 1879 the same ma
ton, under Republican rule, is selling it's 4-per-
| cent bonds at 103
In 1860 this republic was begging an iu-
dorser for its dishonored credit In 1879 the
financial world is beg ing for a chance to buy
it's 4-per- cent. bonds.
Think of this disgraceful national bank
ruptcy in 1860 and then remember the crowds
of people who recently stood in line, extending
from the center of Pennsylvania avenue to the
Treasurer's Office, waiting from sunrise to sun
set, to obtain those coveted bonds.
Democracy denounces the "bloated bond
holder" but pays him IL per cent. interest for
his money. Republicanism demands Justice
for all but pays the bondholder only only per
cent. interest.
If, in 1851, a 6-per-cent. 800 United States
bond, having 70 years to run, sold for
$S9.10. upon the same basis Of investment,
500 % year 4-per-cent. bond should now sell
for only $4S. 81, instead o. $103, the present
market price. The verdict of the financial
world, therefore, is that the credit of this ma
ton has advanced over 100 per cent under Re-
publican rule. This statement, however, falls
very short of the whole truth, for in 1860 upon
proposed loan of s25,00O,0OO only SIS, Ais, 600
could be sold, while in 1879 offers have been
received amounting to over $150, 00O 600 in a
single day.
Do you say this contrast is unfair because
great war was impending in February, 1860? I
reply that both the war and the bankruptcy were
the fruit of Democratic rule. No Republican
had either inaugurated or threatened war. No
Republican had voted for secession or commit
ted treason. The Democratic policy was
unit, and history will go treat it. Democracy
cannot excuse the dishonored national credit
because war was then impending, any more
than an incendiary can avoid responsibility for
destruction Of property by pleading that the
fire did it.
This contrast between our financial condi-
ton in 1860, and 1879, is unjust to the Republi-
can rather than &c the Democratic party The
latter governed in time of peace, and what
ever OF trouble or disaster threatened came
wholly from its own partisans The former
rescued the nation when in the very throes of
civil war, and, In order to save its life, raised
and expended at least S., COO, O00,OOO. To the
generalization and business disturbances of
great war were superadded the crushing taxa
uon necessary to carry it on. And vet all
these difficulties have been bravely encount-
cred, and triumphantly overcome. Already
thtee-nftns OF the war expenditures have been
paid, and the republic, redeemed from dis
union and dlshonor, has been placed financial
~ and politically in the very front rank Of ma
tons.
From 1857 to 1861, in time Of peace, Deat.c-
racy trebled the national debt to meet current
expenditures, while in the last eighteen years
Republicanism has paid at least So O00, 900, 900
of the cost of saving the Union Of the bonded
debt, existing at the close of the war, we have
paid on the principal and reduced the rate of
interest until the annual charge is now only
about one-half of what it was in 1866
The world affords few, if any, instances of
financial triumph as grand as those which have
thus been achieved by the Republican party.
And let 1t not be forgotten that at every step
which led to these magnificent results it has
encountered the most virulent and determined
opposition from the Democracy. Even resump-
ton, now an acknowledged success, was de-
nonnced less than year ago as wicked and
disastrous failure.
/ commend all these facts to the careful con-
sideration of those who think that the political
and financial interests of the country will be
safer, and more prosperous, in Democratic than
in Republican hands
! MARVELLOUS INDUSTRIAL AND MATERIAL PROG
REss UNDER REPUBLICAN RULE.
In reply to the allegations that our material
and Industrial interests have suffered from Re-
publican misrule, beg to submit few facts
drawn from official dOcumants
Notwithstanding the depression of the last
few years, l am confident that the census of
1880 will show the most astonishing advance
ever made by this or any other country. I am
not unmlndful that during the last five years
financial disorders resulting from the wal, have
produced widespread disorder and suffering,
nor OF the fact that more than a million men
were Withdrawn from productive industry, and
for four years devoted to carnage and destruc-
ton. And yet, Notwithstanding all this as
sert that every line of Statistics, which may be
taken as an index of the material and industrial
progress of the people and of the nation, proves
that the advance since 1860, has been without
parallel in our history.
invite the Senate to some statistical COM
parsons between 1850 and 1878, indicating our
industrial progress during the eighteen years
OF Republican rule In making these COMPARE
sons it will be borne in mind that the increase
in population has not been more than 50 per
cent. since 1860:
TOTAL EXPORTS OF AGRICULTURAL PRODUCTS.
IN loao....r.... ..................$ 536, Wy 945
In 1ooo. ...................... 25b,obO3Iz
$279.477, 9Ss
Increase over 100 per cent.
This statement does not fairly represent the
general agricultural progress during that pc
Rod, because the cotton product, which was
the chief export in 1860, has not materially
changed since that time. The exports o: raw
cotton in 1860 were $191, SOC, 554, and in 1873
$lSO,O31 ,4S9. Deducting these amounts from
the totals EXPORTS of their respective years, the
following statement will indicate the progress
of general agricultural industry:
Exports of agricultural products other than
cotton.
In lo6O. ............:. 55,|543II
$500 637
Increase, over 53S per cent
Take few of the leading items of agricult-
ural industry:
EXPORTS OF BREAD AND BREADSTUFFs.
LII 1910. SlCi, o4l
III 1000. Observation-Disclosures. %4,4%@o1U
$157 ,355, 53l
Increase GA per cent
The increase of the two principal commodi-