River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1880-10-14

DlIls Iof tne Iecunlsfy or polllc2i Advantage
of individuals and corp 5rations.
The erection Of public buildings for courts,
postOffices, and the Like, at the national cost,
Is another serious and decreasing drain on the
treasury From smsn places whfra no such
expenditure Is needed, C nus applications for
public buildings many OF them have recently
p Used the mate. One place in North Caro-
lima where public building was voted has
not more than 500 inhabitants None at all
familiar with the facts can doubt that, with
full Democratic swing, the doors of the treas
ury VIII open, and oCpious streams will run
South and empty into the pockets Of no end of
expectants
Whichever way we turn, reasons rise up be-
fore us Tor keeping the staff in the hands of
those VINO have vastly most st stake in the
wholesome preservation Of the government
it, revenues, and its laws. Those with the
least at stake fought for one-half the govern
ment and now the question is whether we
had better vote them both halves. The Demo-
GRAFT party has had possession Of one house
| of congress Tor four years, aud If both houses
for two years. What useful thing has been
done or proposed? They have stricken some
| million Of tax from whisky and tobacco They
have attempted by revolutionary means to put
| the executive under duress, and to cripple the
| government in order to overthrow Just and
time-Aonored laws. What else? l do not
know.
PRETENDED DEMOCRATIC ECONOMY.
! 1t is said that tine Democracy have reduced
Appropriations. l dc not so understand it.
| The claim Of economy is no better than
! juggle. Here are the exact figures year by
/ year, Republican, a9d Democratic, OF sums
annually appropriated for current expenses,
stated in currency ard gold
/ For Fiscal Year. Currency. Gold
1874 (Kepablicanl SIP go 700 81 S153 $50 1888
/ 1875 (Republican).. l55,0lL75S.20 1868. 769.25
1876 Repubhcanl... l47 ll4,"loa1 129,693 rs Oh
1877 Democratic. IA l220l0.92 1861, l0i.12
/ 1878 Democratic. $3.50 1888 Il S. 236 1885,
1879 (Democratic)... 172 0I6S0l2l 17L672775.59
1880 tDemocratic). 1862, O464Z76 1852, 4Oi 6l7. rs
1881 Democratic. l54, llS,2t264 154 2l264
1t will be seen that under Republican ma
| jJrity appropriations steadily de- reased down
to Democratic accessions in 1877. In the tirst
year, the Democrats continued reduct lion,
emitting, however, needed appropria ions.
In their second yoar-the y ar preceding con-
| gress onal elections-they boldly neglected to
provide for many obvious and Indispensable
appropriations. This was exposed on the spot
as an electioneering device, but the figures
went forth and had their effect. There they
stand III tn tables If 1878 as greet apparent
saving, loudly Dragged about at the time. But
as every body familiar with the workings OF the
government knew beforehand must be the
pretended saving VIII ch Lad been purposely
left out of the regular appropriation bills,
came in as deficiency bills after the election,
at the next session. There stands the proof
in the tables of 1879. The appropr ations that
year were much greater than ia 1876, the last
year Of Republ can rule-greater IN currency
by 1914, 30l, 868 40-greater in gold by $41, 979,-
057 Sc.
For last year the appropriations exceeded
the last Republican year more than fifteen
millions, and for this year they are considera-
bly, larger; and il beth years appropriations
4 we're purposely omitted IN cases in which they
are sure to be supplied mt the next session.
THE GREAT WORK or RESUMPTION.
In the f4ce of the facts, bold and arrant as
the claim is, the country is grayely told of
wondrous Democratic economies, and il now
specie payments was really brought about by
the frugality of Democratic Congress.
[Laughter.l Il race was to be sailed for on
the sea of fiction, the inventor Of this state
ment would surely take the cup. [Uproarious
applausel
The resumption Of specie payments was a
tran, cendaht achievement. The credit Of it
belongs to some party, and to that party future
generations will look back with grateful adj
miration. Whoever would know the truth
about it can easily do so.
After the war We had dfOat well toward q
thousand millions of paper currency. 1t huc-
tuated in value from 80 to 20 cents on the ool-
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 d
hundred and fifty millions. The first Presi-
Dental election afterward was in 1868. The
two parties, of course, arrsyed themselves en-
the greatest financial issue which has ever
arisen III this country, or perhaps IN any coun-
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 forrepudiation. The declar.
alton was covert and indirect, but it meant re-
pudiation. They resolved that all debts should
be paid III paper promises, unless the obhga-
uixT Far 9I1 tha~N yiGa nv
unless the law mentioned that coin should be
paid. They resolved that government bonds
and all other securities" should all be taxed.
They resolved that 'every species of property ="
should be taxed, az taxed at its ''real value. ="
They resolved that there should be but one
currency for the Government and the "bon0-
Loider." Taken together, these declara IONS
were plain reputation.
! Nobody pretended that the obligations of the
| Government were payable in honest money for
/ the reasons which alone could allow them to
be so 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 have
been no efficacy Of meaning in such q 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 made in legal tender
notes. Applause.
The bonds had been sold on an express
sgre ement that they should never be taxed,
and exemption from taxation had entered into
the transaction and been discounted as an ele-
ment of value, and paid for III the price given
! for the bonds [Applsuse.l To tax not only
the bonds, but every species of property at
its real value, would have taxed barrel Of
| fl our as well as barrel OF whisky, would have
| taxed land, and all else Such scheme would
not only have worn a frontlet Of reputation,
| but would have thrown into chaos the whole
revenue ana business of the country. APP
| plause. This was the Democratic position.
THE REPUBLICANs TAXI THEIR STAND.
| The Republicans their national CONVEX
ton dec ared two things First that the repu-
da:ion e a national crime, and that every debt
must bo paid to the uttermost, not according to
the letter, but the spirit Of the law SecoDd,
thai the wise course was to improve our credit
/ so as to refund our bonded debt at lover inter
est, and that this could lot be done if repudG-
tion, open or covert, partial or total, was
threatened or suspC cted GA this platform
General Grant was elected. [Applause.] His
first Presidential syllable was spoken on the
portico # the capitol to assembled Thousands,
and spoken with lips which only an instant be-
fore had touched tie Bible to solemnize an
oath Of fsithfuness in office. IN his inaugural
address then delivered. stand theso words:
"a great debt has been contrac ed in Sc
curing to us and orr posterity the union: the