The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1880-08-11

Ifl6nuS OF the laDOf1ng mani he insists that
the Republican party has ever b seo the friend
| of laboring men. 1 DEFY MIN to point out a
single act of that party which has not been in
| against the labnring mal whenever Their
Interests were opposed. Let him point to one,
| II he can.
laborfng men, and they have a Particular
fOndnesS for the soldier candidate whenever
| an election is approaching; but whenever sol.
d1erS have asked that their services snail be
recognized as they did in asking Congress
that their bounties should be equalized, that
measure received us death blow at the hands
OF Republican President. No measure in
the interest of the -bondholder was ever We
tOed oy him. Toe law to Increase his own sal.
airy $4,000 a year was readily signed by him.
voted when In Congress In favor of equal
izing these bounties, and did IL on principe
A Government like ours needs no standing
army. II laws are made fair and honorab ole
they can be enforced without an army. We
only need an army when we are invaded, or
when there Is a great INSURE elton at home.
We rely on the fields and shops for n army.
and the Government ought to treat an army
so called into service in such a way that there
never will De any doubt about our getting an
army at the first tap eff the drum. The men
who went into the army first were paid the
least. want that equallzed. as an encourage.
meat to volunteering hereafter. We can
afford to be liberal with our soldiers, as we
quarters on the country in time of peace, or
ought not to be.
But to return to the bonded debt the Repub-
lican leaders claim so much credit for. they
were not satisfied with the legislation o. 1863.
The bonds and the law under which they
| were issued were still against them, as no pro-
necessity for the law of 1870, which provided for
| the reissue OF new bonds payable In coin.
The law provided they, were 10 be payable In
coin OF the standard value that then existed,
which was % 10 grains of gold, or 4l2% grains
of silver TO the dollar. The old bonds have
been taken up, and this new bond, with its
coin provision. has been substituted and the
question has been settled by the Republican
iarty. That party has placed 1t entirely out
n
| can do is to denouu &c 1t for it's management of
| the public debt in the interest of the bond
| holder and against the laboreT and producer,
| thus saddlelng upon the country for genera
| lions to come the burden of an enormous
| debt and forcing its payment in par money,
| when we got mooey therefor not worth %
| cents on the dollar. Had the volume of cur
rency of the country remained at what 1t was
would have Sean %0Tss than dnTing
the war;, and the taxes remained
| as they were, we could have mad the de bt paiu
| of long before this, and been back to as sound
a basis as we are now, with no debt upon US
| The currency has been contracted, the money
has been brought TO par and the debt has been
| our necks! We can not escape legislation that
| has been enacted: we must accept legislation
as IT IL, and deal with existing facts.
THE CURRENCY QUESTION.
Under existing circumstances our platform
/ is right: that are in favor of money-golc,
| silver and paper-issued by the Government.
| The third resolution OF our platform declares
4 LflaL the coin ana paper money OF the country
| should be of universal value and readily con-
vertible, and should have a. great purchasing
power as the money OF other first class com
mercial countries OF the world, and that
paper money, like the coin, should be
| furnished by the United States, and should not
be in excess OF such guam lty as viii be, and
remain always at paI with coin.
Mr.. Schurz, in his late speech in Indianapo.
| lis, draws a contrast between the Republican
| candidate for Governor in this State and my
self. He says 1 am one of the leaders of tie
widest In f1attOn movements. and one OF the
most vociferOus advocates of the repeal of the
Resumption act have stated 20 you, gentle
men, tue purpose for which wished TO use
the inflated currency given us by the Repab
| lican party. wished TO pay on the debt as
stated, in money of the kind received. That
| purpose has been put out of our power, as
| have also stated, by the Republican party. The
| debt being funded in those new bonds, no man
has since heard me advocate imitation. The
| currency had been inflated by the Republican
| pff tRRsa debit The raann ntion Iaw nrovidad
| for contraction and L opposed it, as 1e says,
| for was opposed TO retiring the green backs as
provided by that law. "Whers." Mr.. Schurz
| asks, would our prosperity be, had
/! he and his followers prevaiIed?'
| l answer: We have prevailed our policy is to-
/ day the policy of the Government and the
| country. We have defeated the execution of
| the resumption law, as provided by the law
| itself. The destruction of the greenbacks as a
| currency was the object of the law, and that
| being defeated, we have accomplished our
| purpose We have the greenbacks with Us,
1 nOtwith standing the resumption law; and we
have them because of Democratic legislation
because of a law passed by the Democratic
| party for the reissue of greenbacks instead of
/ destroying them when redeemed under the
| resumption law. This Democratic law is en-
| titled, IAN act to forbid the further retire.
| ment of United States legal tender notes !"
/ but in suit now pending in the United
i States Cou Is. managed by Republican leaders,
| they expect to get decision declaring 1t un-
constitutional
| The resolution in our platform has ever been
/ my doctrine for sound business policy; and
/ we are now looking 10 nothing else but bust
/ traction, and the debt placed out of our reach
i for payment, as l have stated, in any other
| way than with coin. Gold, silver and paper
/ of the Democratic party to-day, and has ever
/ been my policy except when we had been car
rled so far from IL by the Republican party,
twice as large as IL won have been had IL not
been for deviation from that policy. The
policy of the Republican party was ever T.
| ferent from mine and from the Democratic
party. Its policy was to go back to resum ption
upon gold basis and have nothing but gold
money.
| The Republican party having demonetized
| silver in 1873 and passed a resumption law for
| the retirement of greenbacks in 1S70, we DEM
ocrats said, as has been charged by Mr.. Porter
| and other Republican speakers, that to go
| back to a gold basis, retiring greenbscks with
| no silver in CIRCULATION, was nothing but
| bankruptcy TO the entire country, or. al least,
| OF that portion of IL In debt. And while the
| policy ofthe Re- publican party remained as the
| record of bankruptcy known in the history of
the world. Every man offeeling was shocked (;
the business of the country was paralyZ
| and the money that we had was kept close in
| reserve, except when used to buy property at
still lower rates 1t mattered not how low the
rate was, 1T was expected to be less.
1 can give you some idea OF the bankruptcy
and loss and ruin done by this Republican
policy, by reference 10 r. q. Dunn x Co.'S
| commercial reports that firm being one of the
principal commercial agencies In the country
They give list of failures in the United states
from 1872 to 1877. in the aggregate, as follows:
Number of failures, 50,776; total liabilities,
| 81 ,0S7 ,622, 075. And these immense figures are
but traction OF the sum total OF disasters
that have fallen upon the country. The
| recorded liabilities of those who
went down beneath the curse of
Republican financlering while undertaking
the course OF contraction, furnishes meage
data upon which to predicate satisfactory
| estimate OF other losses, the sum total of
| which, by those most familiar with the sub
j=ct of shrins age in the value of real estate is
estimated at 40 per cent, or Sl2 0DO 100000 The
loss sustained by throwing at least 100000 OF
working people out of employment is not less
than s7,00,OOO,o00. And this cruel war waged by
the Republican party upon the material pros
perity of our country was checked by Demo-
cratic legislation. II we had looked exclusively
to party considerations we would not have
checked IL; but looking only to the interests
OF the country at large. we felt bound,
| "a honorable men. TO check uD 8 policy