The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-09-09

On the night Of the 30th Of Aug, Secretar
Sherman delivered the following speech to a
immense audience in Pike Opera House, Gil
cinnati:
! F6Jj0ao- C3tize1aS-The democratic party IL
sires to make a change in the executive branG
of the government OF the United States, all
appeals TO the American people to bring abou
such a change this fall The republican party
recognizing the right of that party to max
the appeal, will hear patiently and kindly a
it has to say, and no word OF insult no act {
violence, VIII be offered by any republican i
any part of the United States to deter til
democrats from the exercise oil their right free
| ~ to discuss in their own way their politics
convictions ard opinions. We republicans on
ly regret that this privilege cannot be exercise
by US also
The last great change in the executiy
branch of the general government occurred i
1860, by the election Of Abraham Lincoln a
President OF the United States. AT that time
the open advocacy of his election could not b
made safely to lie or limb in thirteen States o
the Union, where the strength OF the democrat
ic party lay. But, in spite OF this, the peopl
OF the Northern states, firmly impressed witt
the necessity for the change, made it; AM
what man in this broad land does not now fee
that it was happy change? And yet the dem
ocratic party of that time resisted it. 1t no
only resisted it during the canvass, but TIL
controlling segment of that party rebellet
against it by force OF arms, and undertook tt
disrupt the government and TO destroy the In
ion.
The democratic party desired a change il
1864 when, in the midst OF war, the magni
tude of which even now in the distance stag
gers us with amaZement, it met in natiOna
convention and resolved that the war was
failure and demanded peace on any terms
That was when Grant was in the Wilderness
and Sherman was on the road to Atlanta
when our notes on demand were worth ONLY
forty cents on the dollar, and when it seemet
almost as if providence had deserted us. If it:
desire for Il change had then been gratiiied, W.
would have now no united country to boast OF
no land to love. The American people, though
weeping over their lost ones and feeling heav
lily the burdens Of war; said there should be
no change, and there was none-Abraham LIN
coin was elected again.
The democratic party desired change IL
1868. 1t was encouraged by the detection Of
Andrew johnson and 10y many divisions in
the republican party The rebels had been re
stored to their lost citizenship, and had already
organized q system Of terror in several ofthe
Southern states. Tweed was in the ascenden
cy in New York with his gigantic frauds; he
plundered the city, filled the cravings of the
army of his dependents with the plumber OF
rich contracts, issued tens of thousands OF
fraudulent naturalization papers, stuffed the
balot-boXes, and thus reversed the vote of the
Empire state. Yet, after all, the American
people decided that thele should be no change
that the republican party which saved the
country, should still be trusted with its admin
istrati0n, and Grant, the great soldier of the
war, was made President
So, again, the democratic party desired a
change in 1876 1t had previously organized
the solid South, according to the Mississippi
plan, with terror and violence 1t tondly thought
il had made good fulcrum of 1873 electors
from states lately in rebellion, and had careful
" laid plans to secure enough more to make
the election sure. Tilden, who as governor OF
New York, had become popular with the bus
mess men OF the state by his aid in the over
throw of Tweed, and by opposition to corrupt
canal rings, was nominated for president. He
had a barrel full Of money which was spent
without stint, and thus introduced for the first
time in American politics the most shameful
corruption in a presidential election. But
more than all, the country was suffering under
great financial distress 1t was natural, but
not Just, that many clamored for change,
who had no sympathy with the principles OF
the democratic party; but still the fraud and
intimidation attempted IN three OF the states
failed III its object, and the republican party in
the Northern states stood by its principles, and
Hayes was elected
And now, fellow citizens let us pause for
awhile to see what has been the result during
the last four years by the election of the pres
ent republican president Has he given any
cause for q change from republican to demo-
cratic measures and men?
RESUMPTION.
When President Hayes was inaugurated the
resumption act Of 1875 was an uneXecuted
mandate Of the Republican party It had been
voted for only by republicans, and had from
its introduction been assailed, resisted and
ridiculed by the democratic party. Gold
was at a premium OF nearly six per cent
The national revenues had been greatly I'M
paired as the result of the panic, so that
there was i'll fact, no surplus revenue to
aid in the work of resumption. The only
means left was to increase the volume of
coin before the day of resumption by the sale
of bonds, to do the utmost to strengthen the
public credit and to produce confidence in the
ability to resume. This was done in the eigh-
teen months that followed the inauguration of
President Hayes, and at the end of that period
the credit of the country had been greatly adj
vanced; surplus coin had been accumulated to
the amount of $130000,000, and the public
mind, relieved from imaginary terrors, had be-
come not only reconciled to resumption, but
was anxiously and hopefully awaiting the
event During all this time the Democratic
party excelled itself in active resistance to the
successful execution of this law. But still,
thanks to the Republican party, resumption
came and came so certainly and so securely that
at this day specie payments are more complete,
in l,n fpIIa thn fbaJ1 hafnrn
in this country, and as complete as in any
country in the world There is no longer any
depreciation of the notes of the United States,
and, not only in this country, but in all foreign
countries they are received at par with gold
The Democratic party, convicted Of false
prophecy, could only shout out that it was
Providence that did it; that the good crops,
which came six months after resumption was
a complete success, did it; and some of them
had the audacity to say that the way to re-
sumption was prepared by the economies en-
forced by democratic House OF Representa-
tives, which rs l will show you hereafter,
instead of reducing the expenses actually
increased them largely in all branches
of the public service subject 10 annual appro-
sriations. Resumption, then, with all the
good that has accompanied and followed it, is
the direct result of the wisdom of your choice
in the election OF a republican president four
years agoe
REFUNDTNG.
When President Hayes was inaugurated
there was upon the statute book the rounding
act of 1870 1t was placed there by the re
publican party--a part of its policy for the
gradual reduction of the burden of the public
debt. 1t had been partially executed by the
sale of five per cent. bonds; and when Presi-
dent Hayes was inaugurated we were selling
four-and -one-halt per cent. bonds at par,slowly
and with difficulty. 1t then became my duty
to continue the refunding; and, taking a hope
full view OF the future Of the country-its pow
er, its wealth and greatness-I determined to
withdraw from the market the foru-and-one-
half per cent bonds, and sell the four per cents
at par. A sale of every suchbond was a saving
of one-third OF the interest on that portion Of
the debt; for every dollar realized was applied
to the payment of an equal amount of bonds
bearing six per cent. interest Bankers shrunk
from taking such bond but on an appeal to
the American people, through popular sub
scription, within sixty days after they were
thus offered, $75 100000 of these bonds were
taken and were absorbed, mostly in small
sums, all over the United States Thus, the
success of the loan was established.
The credit OF the government advanced pre-
cisely as resumption approached success; and
o,,a J,11u,1,aJ dave