The Northern Pacific farmer. [volume] (Wadena, Minn.) 1878-1885, 1880-09-30

Nou.. ACKNOWLEDGEMENTS. 13l. 1lS.2l2 ia
1t will be that under republican ma jority
appropriations steadily decreased down to the
democratic accession in 1877. In the first year
the democrats continued the reduction omitting
however, needed appropriations. In their second
year. the year preceding the congressional cleo
ons, they ba'iiy neglected to provide for many
obvious and indispensable appropriations. This
was exposed on the spot us an cecti0neering de-
vice, but the figures went forth and had their
effect. There they stand in the tables of 1873.
The great apparent savings, loudly Dragged about
at the time, but us everybody familiar with the
workings OF the government knew beforehand,
must be the pretended savings which had been
purposcly left out of the appropriation bills came
in us deficiency bills after the election at the next
session. There stands the proof in the tables of
1879 The appropriations that year were greater
than in 1875, the last year of republican rule
gold by s41 ,e7e .o57.56. For last year the appro-
priations exceeded the last republican year more
than SIS 600 0O0 for this year they are consider
bly, larger, and in both years appropriations were
purposely omitted in cases in which they are sure
to be supplied at the next session
THE GREAT WORK OF RESUMPTION.
In the face If the fact, bold and arrant as the
claim is, the country is gravely told of wonder
Gus democratic economies, and it now begins to be
stated that resumption Of specie payments was
really brought about by the frugality off demo-
sea of fiction, the inventor of that statement
would surely take the cup. The resumption of
specie payments was a transcendent achievement.
The credit Of it belongs to some party, and to
that party future generations will look back with
grateful admiration. Whoever would know the
truth about it can easily do so. After the war
we had afoat well toward thousand millions of
paper currency. 1t fuctuated in value from IS
to 70 cents, on the dollar. The public debt was
more than twenty-eight hundred millions? and
more than twenty-three hundred millions of it
bore interest. The annual interest charge was 9
hundred and fifty millions. The first presidential
election afterward was in 1868. The two parties
Of course arrayed themselves on the greatest f.
nancial issues which had ever arisen in this coun-
try, or, perhaps, in any country. The question
inflicted by the rebellion, and with the sea of pa
per promises we had been compelled to put out!
The democratic party pronounced TOR reputation.
The declaration was covert and indirect, but it
meant reputation. They resolved that all debts
should be paid in paper promises, unless the obi
CATION expressly on its face said otherwise or un-
less the law mentioned that coin should be paid;
they resolved that government bonds and all
other securities should be taxed; they resolved
that every species Of property should be taxed,
and taxed at its real value: they resolved that
there should be but one currency for the govern
ment and the bondholder. Taken together, these
declarations were plain reputation. Nobody pre-
tended that the obligations of the government
were payable in honest money for the reasons
which alone could allow them to be 50 paid under
the democratic resolution. Had their payment
in honest money been specified literally and
technically in the way required by the resolution
there would havo been no efficacy of meaning in
such resolve, and declaring that the bondholder
should have only the same currency that the
government received clearly and conclusively
meant that payment Of bonds was to be made in
lcgal-tender notes. The bonds had been sold on
an express agreement that they should never be
taxed and exemption from taxation had entered
into the transaction and been discountered as an
element Of value, and paid for in the price given
for the bonds. To tax not only the bond, but
every species Of property, at its real value would
have toxed barrel Of flour as vol barrel Of
whisky; would have taxed land and all else. Such
a scheme would not only have worn frontlet of
reputation, but would have thrown into chaos
the whole revenue and business Of the country.
This was the democratic position.
The Republicans in their national convention
DECLARED TWO THINGS.
l. That reputation is national crime, and
that every debt must be paid to the uttermos, not
cordng to the letter. but the spirit of the law.
2. That the wise course was to improve our
credit so as to refund our bonded debt at lower
interest," and that this could not be done if repu-
diation, open or covert, partial or total, was
threatened or suspected.
On this platform General Grant was elected.
His first presidential syllable was spoken on the
portico of the Capitol to assembled thousands,
and spoken with lips which only an instant before