Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1880-10-14

pfsse1 we o~hate. One place in nth Care
ma mnsfs paohe bnlding was voted, has
s 1ot Moae lnah oov inhabitants. None at all
familiar with the facts can doubt that yr;th
'uh democratic swing, the doors of the tress-
ury VIII open, and copious streams will IN,
sodth and empty into the pockets OF no and of
expectants. ~ '--0 Va
whenever way we turn, reasons rise nm ba-
lore us Tor keeping the staff in the hands of
| those WHO have vastly most al state Is ~.
| wholesome preservation OF the yovar,--,a 80
! us revenues, and its laws Thosa with ~
least st stake fought for one-half tbe Govern
ment ana now the question is whether We
had better vote them both halves. The Demo-
ersec party has had possession of one house
/ OF congress for four years, and of beth houseS
/ for two years. What useful thing bss 49,
| done or proposed2 They have stricken some
mIihon OF tax from whisky aud Tobacco Tbev
have attempted by revolutionary means IN Tr1t
the executive under duress, and to Grippe the
government 10 order to overthrow lust and
know. A0'
PRETENDED DEMOCRATIC ECONOMY.
III is SAID that the Democracy have reduced
appropriations. l do not so understand il
me oiaIm OF economy is 40 better than a
Jugeie, Here are the exact figures year by
year, hepuel1caan and Democratic. OF sums
snioay appIopriat "a Tor current expenses,
stated IN currency and gold
FOR Fiscal Year. Currency CHA
1914 Republican, sl72, 29O, ZOO So s153s55 ~ 81
is13 lRepnblicanl.. l50l7,75S.2l I3I655 i'd d
ie.o Qtepubleanl.. I3T 7l4,a40Sl 100 sg9 ms "a
!sI tDemncratic)... l24 l22,OlO92 Il50si ia -
ioIo democratic. - $50 9S3 Is Sc 2ss Az q
- - (Democraticl. liz 0l6.sol2 81 I7I67277559
1851 lDemocratic).. i62 404,64L76 $50 404 64- ~
1921 (Dsmocratic]... 1884, ZIP "a l54lIs.2l2 81
~ VIII be seen that under Republican ma
,rLty appropriations steadily de- reased down
y oelhociale accesslons IN 1877. In the first
year, the democrats continued reduction,
lnitlnQ
In tnelr second year-the year preceding CON-
gressional elections-they boldly neglected to
provide for many obvious and Indispensable
| appropriations. This was exposed on the gpot
as an electioneering device, but the figures
went forth and had their effect There thew
stsno IA IN tables OF 1878 as great apparent
saving, loudly Dragged about at the time. Bat
as everybody familiar with the workings of the
government knew beforehand must be the
| pretended saving VIII CHI had been purposelv
ieit 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 in 1876 the last
year OF Republican rule-greater in currency
by s24 3Ol, s6S 40-greater in gold by Sal, 49,
/ 057 So.
For last year the appropriations exceeded
the last Republican year more than fifteen
mlilons, and Tor this year they are considera-
we're purposely omitted In cases in which they
are sure to be supplied at the next session.
THE GREAT WORK OF RESUMPTION.
In the face OF the facts, bold and arrant as
the claim is, the country is gravely told OF
Wondrous Democratic economies, and II now
begins to be stated that the resumption of
specie payments was really brought about by
the fTugality OF Democratic Congress.
lLaughterl Ii race was to be sailed for on
the sea of fiction, the inventor Of this state
ment would surely take the cup. [Uproarious
applause.l
The resumption of specie payments was
transcendaht achievement. The credit of it
belongs to some party, and to that party future
generations will look back with grateful ad-
miration. Whoever would know the truth
about it can tsily do So
After the war We had afoat well toward a
thousand millions OF paper currency. 1t fuc-
tuated in value from 38 to 10 cents 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 fifty millions. The first Presi-
Dental election afterward was in 1868. The
TWO parlea, OF course arrayed themselves ON
the greatest financial issue which has ever
Sflsen IN this country, or perhaps in any coun-
Try. The question was, what should be done
with the colossal debt inflicted by the rebellion,
been compelled to put out. The Democratic
party pronounced forrepudiation. The declar-
alton was covert and indirect, but it meant re-
pudlatlon. They resolved that all debts should
De paid IN paper promises unless the obliga-
ton expressly on its face said otherwise, or
unless the law mentioned that coin should be
paid. They resolved that i" government bonds
and all other securities" should all be taxed
Iney resolved that "every species of property"
should be taxed, ard taxed at its "real value"
They resolved that there should be but one
currency for the Government and the "bond-
holder: 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 go 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 a 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. fApplause1
The bonds had been sold on an express
agreement that they should never be taxed,
and exemption flom taxation had entered into
the transaction and been discounted as an ele-
ment Of value, and paid FOR ID the price given
for the bonds. [Applause.l To tax not only
the bonds, but every species of property st
its real value" would have taxed barrel of
flour as well as barrel of whisky, would have
taxed land, ard all else. Such q scheme would
not only have worn a frontlet of reputation
but would have thrown into chaos the whole
revenue and business of the country. Zap
plause. This WAS the Democratic position.
THE REPUBLICANS TAKE THEIR STAND.
The Republicans IN their national conven-
ton declared two things; First, that the repu-
diation is national crime, and that every debt
must be paid to the uttermost not according to
the letter, but the spirit of the law. Second.
that the wise course was to improve our credit
so as to refund our bonded debt at lower inter
est, and that this could not be done if repudie-
ton, open or covert partial or total, was
threatened or suspected On this platform
General Grant was elected. [Applausel His
first Presidential syllable was spoken on the
portico Of the capitol to assembled thousands.
and spoken with lips which only an instant be-
fore had touched the Bible to solemnize an
oath of faithfulness in office. In his inaugural
address then delivered stand these Words
"a great debt has been contracted in Sc
curing to us and our posterity the union; the
payment Of this debt, principal and interest,
as well as the return to specie basis as soon
as it can be accomplished without material de-
triment TO the debtor class or to the country |
at large, must be provided for. To protect |
the national honor every dollar OF Govern
ment indebtedness should be paid in gold, un- |
less otherwise expressly stipulated in the con-
tract. Let it be understood that re repudiator |