The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-08-26

yet by the system of credits in use constantl
> initiating values, till after a certain number @
years the whole capital is consumed and gen
eral bankruptcy, of course, falls upon TIL
country, which is aggravated, as in all cases 0
imitation, by shrinkage CT the fictitious value
This process was aided in both ways by TIN
Old State bank system of currency. Good time
stimulated greater issues, and bad times com
PEELED contraction. And when the crash final
ly came all the paper currency was greatl,
deprecated, and most of it became worthless
so that the man OF prudence and economy los
most, II not all, OF his savings as his part of the
contribution taken from thrift and economy tC
pay the losses OF extravaganza and prodigality
or OF pernicious syetem of labor and curren
cy Slave-labor in half of the Union, and
State banks in all were the cause, each aggra-
waiting the other,of the great bankruptcies that
periodically swarm over the country
For the future it is safe from these two
fruitful causes of business failures and finan-
clal ruin HencefOrth the labor of the whole
country will be selfsustaining or nearly so.
Ii certainly will be with wise legislation and a
settled policy of administration in harmony
with its labor and industrial interest, for the
accumulatlons of labor can no longer be lost
by worthless paper currency.
With all our industries prosperous, having
passed beyond the disturbing Influences crea-
ted by war and all the abnormal conditions of
slaVe-labor, with banking system fully es-
tabilshed, more perfect and complete than any
heretofore existing; with paper circulation
everywhere uniform in value, and perfectly
safe and secure to the holder against loss, and
a defined and well-settled policy in legislation
by the party in power, where is the wisdom in
business point of view, of launching the
Government out into the shOreless sea of
Democratic experiment?
The Democratic candidate for Nioa Droc;
dent, in his letter ofacceptance, seems to think
that the great need of the country is to turn
out all Republican office-holders and put in
Democrats. He says: "Perpetuating the
power Of chronic Federal office-holders four
years longer will not benefit the millions of
men and woman who hold no office" That
is true But how about the country itself? He
seems to have forgotten the condition of the
fox in the bramble, covered with a swarm of
insects, and when the owl offered to drive
them away the fox said; mo let them alone
This swarm is already gorged withmy blood,
ana II you drive them away another hungrier
than these ever were, will come and devour
me-" The application of fable is obvious,
when it is remembered how long the Demo
Gratis have been out ofpower
THE COUNTRY SAFE UNDER REPUBLICAN RULE.
In our system of Government it is a gener-
ally admitted maxim that "the Government is
best which governs least" But within the
! legitimate scope its action, in addition to
its ordinary and indispensable legislation, is the
levy and collection of internal taxes and tariff
duties, the adjustment of which can be made
to aid and foster our industries or cripple and
destroy; is the control ola banking system,
with its paper currency, which affects the
| most minute business transaction of indivdu-
ais, and all the commercial relations of trade
at home and abroad; is the management of a
| large public debt, in which is involved the
honor and good faith of the nation as well as
the vital interests of every citizen. To which
of these political parties would it be safest to
ntrust these grave subjects of legislation To
the party that has for the last twenty years
! administered them and never yet betrayed a
public trust, OF to the party that has already, in
nearly every State where it has political CON
troll, repudiated wholly or in part the States
Indebtedness; that has by its votes in Con-
gress sought to repudlate the national debt BY
pretended payments in promises and by un-
authorized taxation; that has supported all
schemes to render the circulation ofthe count
try worthless "a party that bargains every
where for political power with the advocates
of a financial doctrine that money worth moth
! ing makes a country rich.
| In addition TO business interests in the ad-
ministration of the Government, are the great
| questions which affect directly the rights and
the liberties of the citizen and all the consti-
tutional guarantees Of citizenship. need not
ask to what party it is safest and wisest to en-
| trust these vital questions. For tell me of a
single outrage perpetrated by organized wrong
upon the rights and liberties of the citizen,
| whether in the States or Territories, that has
not been under the sanction of the Democratic
party, excused or defended by it's chosen lead
ers and recognized organs. The bloody cata-
logue Of lawless violence which forms the
blacklist chapter in American history, begin
ming in the cold-blooded political murders of
Kansas and continued by the Kuklux Klans of
| the South has been written in this generation
and for which the Democratic party is respon-
sible. With the spirit of the incendiary who
| fired the temple OF Ephesus it would have laid
| in ashes this grandest temple of Liberty ever
reared by human hands, in order to perpetuate
the institutions ofhuman bondage. Failing in
the accomplishment of their designs on the
battlefield, the vanquished come back through
the clemency Of the victors to the seats of leg
islative power which they and their Cocoon
sprators had so recently abandoned. Their
first act in legislative control is a refusal to
make any appropriations for the Army of the
Union, with threat of Withholding all appro-
| priations for the support of the Government
itself unless their peculiar notions are respect
ed. Lastly they attempt to nullify laws on the
statute book, which they have not the consti-
tutional power to repeal by refusing appropri-
ations Of money to make them effective-a
mode Of repeating laws not provided for in the
Constitution revolutionary and destructive of
all forms of government. 1t is simply multi
| tication and secession in new form. A refil-
sal by a laWmaker to appropriate the money
| necessary to make a law On the statute book
effective is just as much a disregard of duty
and constitutional obligation as it is for the
private citizen to disobey it. The act in both
Al i II. L
edy. In the case Of the private citizen the
remedy is in the Courts; in the case of the
lawmaker it is in the ballot-box by fepudiating
at the polls the faithless public servant and
the party that sustains his acts.
The country has been saved from the great
ills to its business interests and its commercial
prosperity by the vetoes of an infexbe Elk
ecutive legislation designed to cripple the cred
it and tarnish the honor of the nation. The
follyor wickedness of design of the Democrat
ic leaders in their three years of legislative
power has been equaled by their manifest in
capacity for administration
THE GREAT QUESTION OF THE TARIFF.
In 1868 the Democratic party in National
convention at New York declared in favor OF
"a tariff for revenue upon foreign imports, and
such equal taxation under the internal revenue
| laws as will afford incidental protection to do
nominating General Hancock at Cincinnati,
declared for q tariff for revenue only It's can
didate, in his letter of acceptance, gives his
views on the tariff and questions affecting la
Dor and the industrial interests in the follow
ing words which are the only public opinion
he has ever expressed on these subjects:
"Let us encourage the harmony and gener-
GUS rivalry among our own industries which
will revive our languishing merchant marine
extend our commerce with foreign nations, as
sst our merchants, manufacturers and produ-
GERS to develop our vast natural resources, and
increase the prosperity and happiness of our
people"
This explicit and clearly defined opinion as
to the duty of the Government in relation to
our great material and industrial interest re-
minds one of Mark TWain's reason for order
ing hash at hotel when he said 81 always or
der hash, for | know what that is" From his
letter of acceptance we know what General
Hancock, if elected President, would do in aid
of home industries He will develop all the
powers ofthe Government toward encouraging
harmony among our industries, which, of
course, would be far more effective in building
4 i