The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1880-08-10
A Brilliant and Convincing
Speech at Bath.
THE RECORDS OF THE TWO
PARTIES CONTRASTED.
The National and State Issues of
the Campaign.
WHY THE REPUBLICANS SHOULD BE
KEPT IN POWER.
Especial Despatch to the Press.l

Especial Despatch to the Press.
BATH, Aug. THE Republicans OF Bath
opened the cam paign this evening. Previous
to the meeting a national salute was fired from
the City Park and all the bells of the city were
rung
The speakers were escorted to the Hall by
grand torchlight procession and company OF
Garfield Veterans. During the march there
was a grand display of fireworks. Column
bian Hall, the largest in the city, was filled to
overlooking and hundreds were obliged to go
away.
The hall was most tastefully decorated. Over
the speakers were two large American flags,
between which was five foot oil painting Of
Gen. Garfield.
Mayor Hyde presided, and after brief
speech introduced Senator Blaine.
MR. BLA1NE's SPEECH.
Mr.. Blaine said he would spend but little
time in mere personal eulogy of Gen. Garfield
and none at all in any attempt at detraction
of Gen. Hancock. Both gentlemen are able,
upright and honorable, and neither party will
gain anything by an attempt at depreciation or
vituperation OF the opposing candidate. The
policies and measures of political organizations
are to be judged by their past history and pres
emit membership, not by the personal charact-
eristics of the particular individual that
may be selected as standard bearer. The
people of the United States are today enjoy
ing great degree of prosperity. Labor is in
demand and well paid, capital is active and
well invested, farmers, manufacturers and
mechanics are everywhere encouraged by
abundant employment and fair profit Aside
from the inherent energy OF the American
people what are the causes that brought about
or incidental causes, but grand and general
causes. Any intelligent man will see that this
condition of affairs came about as sthe conse-
quence of two great events in our history. One
was the preservation of the Union OF the
states, the other was the establishment of the
national finances on an enduring foundation
by the restoration of specie payment; and all
that ask the voters of Maine to consider is
whether these great ends we're brought about
by the supporters of Gen. Garfield or by the
supporters of Gen. Hancock.
Ii tonight you analyze the respective pollt-
ical organizations, you will find that the men
who did battle for the union of the States are
in large mass among those who are supporting
Gen. Garfield and that with very few excep-
tions those who rebelled against the Union
but did not join the rebellion, are supporting
Gen. Hancock The former class prevailed in
the contest and if the Union was worth the
great struggle it required to save it ask you
if it be not wholly illogical and unnecessarily
perilous to hand over its government to those
who sought its destruction.
On the financial question the division is
even more marked than on that relating to
the preservation of the Union. We came out
of the war with a debt that was discouragingly
large, and with currency dangerously depre-
ciated. To provide for the reduction of the
debt and the restoration of the currency to the
specie standard, was the great work of states
manship that devolved upon the Republican
party. At every step in this gigantic under
taking the Democratic party-the present sup
porters of General Hancock-have presented
themselves as an obstruction and a hindrance.
The three great enactments that brought
sound currency to the people were: First, the
act to strengthen the public credit, in 1869;
second. the act to provide for the
and third, the act for the resumption of
specie payment passed in 1875. Against every
one of these measures thu Democratic party
offered stern resistance. believe I am en-
trely accurate d an SAYING that in neither branch
and essential measures receive the support Of
single Democratic vote. Mr.. Thurman and
Mr.. Bayard, the leaders OF the Democratic
party in Congress, united in vigorous opposi-
ton to these measures When the act of 1869
declaring that the United States would pay its
obligations in the money of the world was
pending, Mr.. Thurman and Mr.. Bayard both
voted for proposition to pay Off the public
debt at the rate represented by its coin value
at the time the loans were negotiated, declar-
ing in the amendment they supported that
this was the just measure of the obligation Of
the United States, and when this amendment
was rejected Mr.. Thurman offered and Mr..
Bayard voted for an amendment excepting the
five-twenty bonds, then more than one-half the
public debt, from any obligation of coin pay
ment. Had the policy advocated by Mr.. Thur
man and Mr.. Bayard and the whole Democrat
ic party been sustained the public debt would
have been paid off at from thirty-eight to six
ty-five cents on the dollar, the nation would
have been dishonored and its public credit for
ever blasted. The proposition maintained by
the Democratic party at that time was more
sweeping in its terms and more disastrous in
its certain consequences than any OF the mod
ern greerback hereSies.
The second great measure to which l
have referred was the funding act
of July 18th, 1870. That statute
under Whose benefcent operation
such relief as has come to the tax payers of
the United States was opposed at every step by
the entire Democratic party in Congress, MI
Thurman and Mr.. Bayard as usual in the lead.
The provision exempting bonds from taxation
was absolutely essential to funding the debt at
a low rate of interest. Yet Mr.. Bayard offered
and advocated an amendment striking out this
provision from the law, and all the Democrats
in Congress voted with Mr.. Bayard fur
ther advocated the substitution of the old state
bank system for the national bank system, a
measure fraught with merciless disaster to the
whole financial and commercial community.
Happily the Republican party were able to de-
feat this destructive proposition, and the
funding act of July IA, 1870, was placed on tn 9
statute book. At the time Of its passage
seven-eighths of the public debt was bearing
six per cent. interest. Today scarcely one
eighth of the debt bears that rate, land next year
if the Republican policy is pursued all the
remainder of the SKIS will be funded at four
per cent. When the war closed the annual
interest of the public debt exceeded one hum
dred and fifty millions Of dollars; today under
the financial policy OF the Republican party
the annual interest is less than eighty millions
and the principal of the debt has been reduced
more than eight hundred millions of dollars
The third and browning measure OF the Re-
publican financial policy was the act of 1875
for the resumption of specie payment passed
by the Republican party over the united oppo-
sition of the Democrats, not single Demo-
cratic senator or representative voting for it.
And year and half after its passage, the
Democratic party in National convention by a
unanimous vote, demanded the repeal of the
resumption act, and if there be one prominent
Democrat in the United States who separated
himself from his party on that question his
name has escaped my observation. have not
singled out Mr.. Thurman and Mr.. Bayard in
any offensive sense, but simply as the leaders
VI Inc D0lnOCrttGlC party anu buo roCOIu SLUWS
that every step taken for the restoration of
specie payments and the better adjustment of
the National debt has been opposed, hindered
and obstructed by both these eminent Senators
and by all their followers. Now is it in the
light Of to-day any exaggeration to say that if
the policy advocated by them had been adopt
ed the finances of the country would still be
confusion, the national credit would have re-
ceived fatal blow and all effort at steady
progress and orderly development of the great
business and commercial interest Of the coun-
try would have been vain and fruitless.
If the measures / have quoted and the re-
cords have referred to correctly depict the
course of the Democratic party in the past,
what might you expect from in in the future?
And in the light of this experience and in full
view of these facts, ask all the voters of
Maine and of the whole Union, SO far as my
voice can reach them, whether they think the
financial policy that has proved SO brilliantly
successful should now be placed under the
control of the men who were its bitter oppon-
ents or whether it had better be kept in the
hands of its friends. Among these friends
none stronger, ADLER, more Jealous or more
consistent can be found than James A. Gar
field. Neither by word nor deed, so far as I
know, has Gen. Hancock ever made any ex-
preston ON the subject. His letter of accept
ance is discreetly, OF. as l should say, indis-
creetly silent in regard to this great subject as
indeed it is in reference to all matters of