The Northern Pacific farmer. [volume] (Wadena, Minn.) 1878-1885, 1880-10-28

but the rep uplican party of the United
States made up its mind that it would
REPAY THAT DE BIT TO THE LAST DOLLAR
according to its terms and condi: ions.
Applause. The republican party de-
clared that this nation should be honest,
and although it might come hard, vet we
would pay the debt dollar for dollar, pre-
Gisely as we agreed to do it. [Appiause.]
1t was said it was hard to pay it in gold.
so 1t was, but we agreed to pay it. and
that is reason enough for an honest man.
lAPplause. The result of it was that our
credit became better and better; people
began to contide in our ability to pay. Our
bonds rose rapidly until in 1869 they APP
preached par in coin. Then it was that
the republican party passed bill to
strengthen the public credit. That con-
tanned two propositions: One was that
we should pay the debt according to its
terms, and the other that we would bring
about the resumption of specie payment as
soon as practical. [Applause. No dem
ocrat had the honor of voting for that bill.
Applause. The mere fact of that dec
laration advanced our public credit, so
that IN about year or two from this time
it was found that our bonds were at par.
Then the proposition was made that we
should sell per cent. or A. or per cent
bonds, and with the proceeds of these
bonds we should redeem the outstanding
per cent. bonds. Up to that time we had
paid interest at the rate of 6 and $40
per cent, but as
OUR CREDIT ADVANCED
it was found that we could sell those
bonds bearing a lower rate of interest;
and bill was passed in 1870 authorizing
the secretary of the treasury to sell those
lower priced bonds at par and pay off the
higher rate of interest bonds. That bill
passed, and that bill was republican
measure. No democrat had the honor of
voting for that refunding act. Applause
Still our credit advanced, until finally
during Gen. Grants administration, we
offered for sale 5OO,00O,OOO of S per cent.
bonds at par in coin, and with that money
we paid off five hundred millions of per
cent. bonds and saved to the people of the
United States the sum of 100000 a
year.
At the close of Gen. Grants administra-
they were slowly selling at A per cent
bonds at par. When l became secretary
Of the treasury, in April, 1877, I believed
that the credit of the government was so
good that we ought to sell 1 per cent
bonds in coin. So withdrew the a per
cent. bonds and offered the pc, cent.
bonds. The banks would not take them.
They said the rate of interest was too low,
and ! don't blame them at all because it
is natural for a man to get as high a rate
of interest as he can, and he does not care
whether it is ri ht or wrong. However,
insisted upon offering the per cent. bonds
to the people. We did SO by what is
called the popular loan. Strange to say,
the people of the United States took
of L.
Applause.
Now let me try and draw
THE LINE OF DEMARCATION
between the great political organizations
told you would divide the line between
these parties, and Judge them by what
they have done. What has the democrat
ic party done in the last twenty years that
should induce any man to vote for them;
what measures has it proposed? When
the war broke out the democratic party
the south. which was the head and body
OF the dog which went into the rebellion
waged war against the country. What
did the democratic party do during the
war that induces you to attach yourself
to it? Although thousands of patriotic
democrats entered into the war; fought
nobly and did their duty gallantly, and
God for bid that should take laurel
from their brow, yet in 1863 in Ohio they
nominated as candidate for governor
Clement l.. Vallaendigham, man who en-
deayored to disturb and cause civil war
IN that state. They supported the knights
Of the Golden Circle in Inlina, and but
would have created civil war in Indiana.
[Applause The democratic party met in
1864 in Chicago, your neighboring city,
and demanded peace on any terms, a ces-
sation of hostilities. The very time when
Grant was in the Wilderness When
Sherman was On his march to the sea,
they raised the white flag Of truce in Chi
cago and demanded peace on any terms
Six months after that the God of victories
crowned us with laurels and our own
country was saved. Applause This
republican party has built up and nour-
ished spirit of nationality, of love, of
honor, of glory and public credit. We be-
lieved in our nation, the pluck and honor
of our soldiers. The democrats have no
such rights, and the resolutions of '9S;
have no glories from the past. They did
nothing, and in the name of God appeal
to you what did they do that should in
duce any man in Milwaukee to vote the
democratic ticket. [Applause.] I ask
diana? Cries of ':hear" and applause
They are two kindred states to Wisconsin;
two states cut out of this great north
western territory. There was the battle
ground where these questions were de-
bated. Every man of eminence on both
sides entered the lists and gave the why
and wherefore. The state Of Indiana was
claimed to be democratic, and there the
issue was tried. Ohio was republican
state. What was the result? We carried
that state by twenty thousand majority
and elected fifteen members OF congress as
republicans. Those doings will be memoir
able in political history. In Indiana we
elected eight or ten members of congress
and the news by telegraph is
increasing the number every
dow 1Annlauso W. hovo rcoJo .,.o cf