The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1880-10-28

/
| OF individuals and corporations.
| The erection Of public buildings for courts,
postoflicer, and tbs like, at tho national cost,
IL another serious and Increasing drain on tho
treasury. FrGm smell places VIII re no such
expenditure IL needed, emo applications for
public buildings; many OF them have recently
plssod the Senate. Ono place in North Care
Ina whore public building was voted, has
not more than 900 inhabitants. None ut all
familiar with the facts can doubt that, with
full Democratic swing, tho doors OF the treas
ury viii open, and copious streams will run
South and empty INTO the pockets Of no end Of
| CNpectaGts.
Whichever way we turn, reasons rise up DO
fore Us for koaping the stan in the hands Of
| those who have vastly most ut stake In the
wholesome preservation OF the government,
its revenues and its laws. Those with the
least at stake fought for one-haif tho govern
ment, and now the question Ii whether we
| had better vote them both halves. The Demo-
crat party has had poSsossion OF ono house
| Of cOngi ess for four years, and If beth houses
| for two years. What useful thing has been
done or propo. cd? They have stricken some
million Of tax from whisky aud tobacco. They
have attempted by revolutionary means to put
the executive under durcss, and to cripple the
government in order TO overthrow Just and
time-honoIed laws. What elte? / do not
know.
PRETENDED DEMOCRATIC ECoWoMY.
1t in said that the Democracy have reduced
appropriations. do not 70 understand 1t.
The claim Of economy il no better than
juggle Here ara the exact figures year by
year, Republican, AID Democratic, OF sums
annually appropriated FOR current expenses,
stated IN currency and gold:
F9f F'ss" Sfar G%sss9sSy :. G"
1873 Ucpn blcan)... l55,0lT15s.2o 1868. 2s
1870 Republican,. -. li7,7ii,9iOsl l29,G937Is O3
1871 (Democralic,." III ls2,olO92 ll5Uil lol y
1878 Democratic. sS36 9S3 Is S,28, ii553
1879 Democratic. l7solGsW2i Fi.G72,775So
1850 tDcmocmiic).. H., 40i,GiZ76 lGa i0i, 10
1881 (DemOcratic)... l5i,llS,2l2G lJi.ils,2l2.Gi
II viii DO seen that under a Republican ma
jority apprOpr stions steadily do, reased down
To Democratic accessions in 1877. In the first
year, the Democrats continued reduction,
emitting, however, needed appropriations
In their second yoar-the year preceding con-
grersional elections-they boldly neglected to
provide for many obvious and indispensable
appropriations. This was exposed on the spot
rs an electioneering device, but tho figures
went forth and had their effect. There they
stand III tn. tables OF 1878 AZ a great apparent
saving, Loudly Dragged about at the time But
~ every body familiar with the workings OF the
government knew beforehand mus be the
pretended saving VIII ch had been purposoly
left out OF the regular appropriation bills,
came III az deficiency bills after the election,
at the next session. There stands the proof
in the tables Of 1879. The appropr atonI that
year were much greater than ia 1876, the last
year OF Repnbl can rule-greater IA currer cy
by s2i ,3Oi s6S. iO-greater in gold by @4l, 979,-
O57 81.
For last year the appropriations exceeded
the last Republican Year more than fifteen
millions, and for this year they arc considera.
bly, larger; and in both years appropriations
we're purp0sely omitted III cases in which they
are sure to DO supplied at the next session.
THE GREAT WORK or RESUMPTION.
T., H., q Of D.. h,I
the claim Ii, tho country III gravoly told OF
wondrOu3 Democratic economies, and IL now
bt gins to be stated that tho resumption OF
} specie payments was really brought about by
tho frugality OF Democratic Congress-
[I.aughtor.l IL a race was to be sailed for or
tho seq Of fiction, the inventor OF this state
} ment would surely take the cup. lUproarious
} applause.l
The resumption Of specie payments was a
tram cendaht achievement. The credit OF il
: belongs to some party, snd to that party failure
: generations will look back with grateful ad,
|; miration. Whoever would know the Truth
about it can easily do 70.
After the war we had sfloat well toward a
} thousand millions Of paper currency. Ii fac
tuated in value from 33 to 10 cent on the dol
lar. 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 a
: hundred and ifty millions. The first Presi-
} dental election afterward was in 1868. The
two parties, of course, arrayed themselves on
, the greatest financial issue which has ever
arisen ia this country, or perhaps in any cO,ln-
try. The question was, what should he done
with the colossal debt inflicted by the rebellion,
and with the sea Of paper promises We had
been compelled to put out. The Democratic
party pronounced REORGANIZATION. The declsr
alton was covert and Indirect, but il meant re-
, pndiaton. They resolved that all debts should
} be paid IN paper promises, unless the oblisa-
ton expressly Oh its face said otherwise or
unless tho law mentioned that coin should be
paid. They resolved that government bonds
and all other securities" should all DO taxed.
Theyresolved that "everv species Of property VI
should be taxed, a. taxed at its "real valle. "
/ They resolved that there should be but one
/ currency for the Government and the "bond.
colder" Taken together, these declara ions
/ were plain reputation.
Nobody pretended that the obligations Of the
, Government were payable in honest money for
tho reasons which alone could allow them TO
, I've so paid under tho Democratic resolution.
: Had their payment in honest money been
specified literally and technically in the way
required by tho resolution, there would have
been no efficacy OF meaning in Such a resolve
and declaring that the bondholder should have
; only tho same currency that the Government
received, clearly and conclusively meant that
, payment OF bonds was to made III legal tend,r
notes. lAppiaust.l
The bonds had been sold on an express
ayr, ement that they should never DO tsxed,
and exemption fiom taxation had entered into
the transa, ton and bd en- discounted az an ele-
ment Of value, and paid for III the price given
: for the bonds. LApplausel To tax not only
the bonds, but "evory species OF property at
its real yalue," would have taxed a barrel Of
flour rs well as a barrel % whisky, would have
taxed land, and ali else. Such scheme wOuld
not only have worn frontlct Of Reputation,
but would have thrown into chaos tho whole
revenue and business OF the country. ZAP
7 piapse.l This WAS the Democratic position.
THE REPUBLICANS TAX THEIR STAND.
Tho Republicans IN their national cOnvon-
ton declared two things: First, that the repu-
diation liz II national crime, and that every debt
must DO paid to the utternost, not according to
: the letter, but the spirit Of tie law. Sycona,
shat the wise course was to improve our credit
30 as 10 refund our bonded debt at lover inter
est, and that this could OF BIZ done il repudis-
: ton, open or covert partial or total, wa
thIeat3rod or suspg ctei On this platform
General Grant was elected. lApplause.l His
first Presidential syllable was spoken On the
! poiticO II the capitol 10 assembled thousands,
and spoken with lips which only an in ant be-
, fore had touched tho Bib'e To solemniZe au
oath Of fajtnfuInoss III Office. III hisinaugurai
} address then delivered, stand the @ word:
"A great debt has been contracted in Sc
, curing to III and our postority tho union the
, pm, meut Of this debt, principal ard interest,
as we'll as tho return To spec.e basis az soon
az il can DO accomplished without material de-
triment TO the debtor class or 10 tho country
ut large, NUT be prov dea for. TO project
the national honor, every dollar OF Govern
ment indebtedness should be paid in gold, uu'
less otherwise expressly stipulated in the con-