Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1880-11-02

any american can travel all over with
any bank note or United States note,
and 1t Will be received as coin, because
THE NATION HAS NEVER VIOLATED IT'S
PROMISE.
Great applause. It was the promise
of nation that said it would be honest.
the promise of nation that fought for
| it's existence and put down the rebellion.
What was the result upon your bust
ness interests. [ told you that we sold
seventy-fve million of dollars in 1877
and after resumption came and the SUM-
light spread over the heavens and everv-
body saw that the clouds were dissi-
pated We sold five hundred and fifty
millions of dollars Of per cent bonds at
par, and paid off every dollar of bonds
redeemable bearing 5 and 6 per cent. in
treast [great applause, thus saving to
you fourteen million and odd hundred
thousand dollars year. And that debt
which. as [ told you before, at the close
OF the war amounted to twenty-seven
hundred and forty millions of dollars and
the interest of which was one hundred
and tifty-One millions of dollars is being
reduced. We have paid off nine hun
dred millions of dollars and more than
that. We have reduced the interest that
was one hundred and fifty-one millions of
dollars down to seventy-seven millions of
| dollars, SO that a moderate tax on whisky
will pay the interest of the national debt.
Great applause.
Mr.. friends, and Democratic friends
especially, L don't think that the whisky
ought to pay all the tax. Applause
and laughter. Because [ don't think
that would be fair. Laughter. We
are willing to distribute it all around,
pay our share in every fair and proper
way, but this debt which was phantom
to the American people a little while ago,
is now disappearing like snow before the
summer sun, and nobody cares for it
now. We are paying it off at the rate
OF ten millions of dollars monthly. On
/ the day before yesterday we paid two
and half millions of dollars, and we do
that every week, so that we pay off at
the rate Of one hundred and twenty-four
millions of dollars year without lncreas-
ing taxation by an honest and faithful
administration of the government. By
pursuing the strict line of duty we are
enabled to bring all these results.
Now, concerning
THE RESULT UPON THE BUSINESS INTER-
EsTs OF THE COUNTRY.
When the government of the United
States reduced the interest to per cent.
what was the result upon the private
debt? Formerly it was difficult for a
man to start in business, because he had
to borrow money at 10 per cent, and in
western states even more. Now money
is reduced one-third, and man can
start in business ON borrowed capital at
6 or per cent, according to his credit.
This burden of interest upon the bust
ness men of the country has been re-
duced one-third, saving in interest alone
to business men, as estimated, more than
$500, 0OO,0O year, which has been
brought about by this honest and upright
policy. Not on y that This money,
which was deprecated little while ago,
is retained in the proper channels of
trade. We cannot get any more in the
treasury department. We have to pay
out gold, not that the people like it; and
when they grumble we tell them we give
them the best we have got Now gold is
coming back to us from foreign lands
Our foreign trade is in our favor. Within
the last four OF five years since this period
OF resumption has been entered upon,
THE BALANCE OF TRADE Is IN OUR FAVOR.
to the amount of more than $500, 900, 900;
SO that we have paid off the bonds held
abroad. All the bonds of ours that
were held abroad have come back to us
except 100000, Private bonds,
county bonds, state bonds and others
have been returned. We own our
own debt and hold all our public
obligations; and the national credit
which, in the time of James Buchanan,
when bonds sold for 80 cents on the dol
lar, and we had to borrow money at the
rate of twelve per cent interest, and
give collateral security for that-has so
far advanced that our bonds would sell
as high as any of the bonds of any
country in the world. France and Ger
many are not able tosell to-day, although
great nations, upon as good terms as the
United States of America. Not only
that. We are spectacle for all the ma
tions. Until two or three years ago the
number of immigrants who came to this
country was about 100000 to 10000 a
year, and this year there viii be
500, 900 and more, who will develop
this great country and till our
broad lands that are open to them. Ev-
cry sign and element of prosperity is
open. We have good times, honest
money, and plenty Of it, and great pros
perity. Sometimes they tell us we Re-
publicans are not willing to share with
the Providence of God in all these
things. We are thankful to the Almighty
that during the twenty years we Repub-
leans have been in power in this coun-
try that Providence has always blessed
us, blessed us in fighting the war;
blessed us in the measures of recon
struction, and it has blessed us now in
this grand act of honor. But what we
claim is this: We claim that the Repub-
lican party brought about honest money,
good money, aid Providence gave us
good crops; and good money and good
crops make good times, but the Demo-
cratic party have not contributed to
either or any of these things. APP
plause.]
Now LET mo FRY and draw