The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1880-09-10
States. Thus the success Of the loan was Is.


oped, and at times appeared to be successful,
credit would become impaired, confidence
would be destroyed, and the sale OF these bonds
would fall off. But, as events resulted, and
the Democrats failed to secure the repeal of the
Resumption act, the bonds sold again, but in
comparatively less sums. The credit Of the
Government advanced precisely as resumption
approached success, and, within 100 days after
resumption, there were sold 500, 347, 800 of 4
percent. bonds, thus completing the work OF
refunding, as far as the law allowed it to be
done, by the redemption of all the bonds bear
ing 5 or 6-per-cent interest that were then re-
deemable. The result of this Republican policy
was savingsto the people of the United States
of $14, 290, 3.5O interest per year.
But this was not the only benefit derived BY
our people from refunding operations. The
rate of interest became permanently reduced
on all investments throughout the country.
Low interest is the chief factor III cur prosper
ity. 1t became possible for manufacturers and
tradespeople to borrow money, SO as to conduct
their business probably. This low rate of In
terest produced a demand for new investments,
and new enterprises were started into life.
Thus, by the policy of the Resumption and the
RefundIng acts, the way was paved for the pres
ent era of prosperity. and the whole of this was
the work of the Republican party. If the
change desired by our opponents four years aeo
had occurred. no man can truly say that such
results as these would have taken place for,
from Tilden down, the Democratic party ia
yOred the repeal of the Resumption act. That
party, during these four years has been the
slave of the most idle and crazvpopular dells-
siOns of fiat nnUney--their leaders even talking
about bloated bondholders and aristocrats-
and was ready to fan into flame the passions OF
men to mobblsh violence and 10 fierce conten-
tons between capital and labor
A Rapullioavn ..ysxx,
the public debt at the rate of S10000,000 q
month, or 50. 500, 900 week. In all PROBABLE
ty. before this administration closes its term,
the debt will be further reduced $40 100000,
making saving in annual interest Of s s.
100000.
This policy of debt-paying and interest-re
tuclng is the most striking in the history Of
@ny country. Other nations have had great
Iebts but no nation ever before paid it sc
rapidly, SO justly, SO honorably This fact
alone is worth in public credit than all the
gold and silver IN the country because it is a
capital from which we can draw whenever ne
ees itv requires.
The Democratic party pursued an exactly OPP
posite policy. From 1857 70 1860, when Mr..
Buchanan was President, it steadily increased
The public debt from 80. 998 621. 76 to S59, 1854,
l0201. At the close of that period it paid as
high as IL per cent. on one-year treasury notes
cents on the dollar. While the debt was henp
reduced by the Republican party, the Demo
cratic party impaired the public credit bv pro-
posing schemes to cheat the public creditor
Its influence was the chief obstruction 10 the
debt-paying and Understandings policy Of the
Republican party. States where it has
ascendency, like Virginia, Louisiana Tennessee
Mississippi, and Arkansas, it has either repudl-
ated the State debts or threatens to do So
Its success in national election would, ii
my Judgment, greatly impair the public
credit and reduce the value Of public seen.
rites. @@ EgM%@7
During the administration of James Buchan
an the loss by defalcat IN of public officers in
the collection and disbursement of the public
moneys was 1881 on every 81 900 ;@durng
Pierces admin Stration it was $3.56 i during
Folks administration it was $4.0S; during
Ilcksons administration it was $7.52 duriae
Van Buren's administration it was Still
Mark the contrast with Republican adminlstra.
ions
In Lincoln's time, embracing the recklessness
aused by war, it was rs cents. For six years
of Grants administration it was 81 cents II
Hayes administration thus far-assumng that
amounts in dispute are lost--the loss on
81, 900 would be SO small that the smallest coir
of the country would make it good three times
1t has been but one-third of cent on 81 900 Of
the amount involved. f8&# E4ssA NJ
And what has been the result of Republican
administration under President Hayes upon the
| general business interests OF the country? We
have w1tnesse :, and are now enjoying, the great
est revival of business of modern times. We
have leared forward from period of extreme
distress to one of great prosperity Our ex.
ports during the last fiscal wear reached the en-
ormous sum Of 1885, 100000, being an increase
OF $32O,000,000. Our imports during the last
fiscal year were 1868 900, 900, being an increase
since 1875 of $135,000,000, and making an ag-
gregate foreign commerce of the last year oil
overs 500, 000,000. Every nation contributes tc
our comfort. Ffonleyery land, and from every
sea, and from every part of our country we
gather the productions of their labor to supply
our daily wants. Our manufactures in all branch
es have increased, SO that not only do We sup
ply the domestic markets with nearly all the
articles essential to human life, but we export
in great quantities the productions Of the work.
shop and the farm.
We now feed Europe not only with grain, but
with meat, butter, lard canned fruits, and an
infinite variety of other productions. We are
gradually gaining trade in other countries
North and South, and may hope in a shori
time, to supply them with nearly all tho articles
of foreign production they desire. In the great
branches of industry agriculture manufact
ures, and mining are now taking onr raiil
as the leading nation. With plenty ofimoney
as good as god with plenty of work for all
who are willing to work, with cheap CAPITAL, we
have now superadded tile most bounteolls crops
that ever blessed any portion of the world
Think of wheat crops of 450000,000 bushels
year, and corn crops of about 1900, 000, 900
| year, and everything else In proportion Fol
these high prices have been realized. The adj
dition to the wealth of the country fo
| the last three or four years cal
| scarcely be estimated. We know thai
our Government debt, formerly largely hell
| abroad, is now almost exclusively held al home
that the mortgages upon our lands and farms
| have been reduced to one-third their amount il
1876; that the balance of trade is so largely ii
our favor that foreign countries, no longer abb,
| to send back our securities. are compelled Il
ship gold. The building of railroads keeps pace
with our general prosperity. They are crossing
the plains and exploring every valley, and yea
| by year we hear of new settlements of fertile
territory hitherto unavailable for tillage, who's,
surplus products increase our resources. TIL,
number and amount of business failures have
| been reduced more than one-half. In word
all the circumstances and elements that indicate
increased wealth and prosperity to our whole
| coustry seem to combine to make its immediate
| future exceedingly bright. The rough roae
has been travelled, and the smooth one is nov
| before u.s.
We can fairly claim that the renewal of busi-
ness is the natural result of the policy of the
Republican party. Every public measure that
has contributed to it was q Republican measure
An honest and faithful administration of the
| Government; firm adherence to the Resump
ton and Refunding acts; the maintenance 81
| the public faith as against fiat money and the
protection policy embodied in our tariff laws,
are the human agencies, the work of the Re.
| publican party, that have contributed to oul
| prosperity. 1t is true that Providence gave us
| bounteous crops, but these came after resllmp-
| ton was secure, and after we had laid TIL
foundation Of honest money and diversified in
| dustry, which enabled us to improve the bless
ings of Providence. Certain it is, that we owe
| no part of our prosperity to the Democratic
| party.
And now, in 1880, they want change; not ,
change in the Democratic House or enate. bui
a change in the Executive branch Of the Gov,
| ernment, SO that all branches of the Govern
ment will be practically under their power and
control. 1t is known very we'll that within
| period of four years the election of Demo
cratic President would probably, by the chance.
| Of life, convert the Supreme Court into a eta
del OF the principles and policy of the Demo
| cratic party, and change the national tenden
cies of that great tribunal into machine to
cripple the Government in it, power to protect
the RIGHT of the freedmen by the adoption oil
the narrow notions of State rights which gov
erned the Democratic party before the war. ii
| And who are they who propose this radical
changer 1t is the same Democratic party that
IN 1860 sought to overthrow tile Government.
| governed by the self-same men or their lneal
descendants, and the same elements which con
troled the policy of the administration of