The Republican. [volume] (Oakland, Md.) 1877-current, 1882-10-21
convertible into coin,

and has back of it an ultimate Secur-
ity which absolutely prevents loss to
the note holder. Opposing the pas
sage of the laws which created this
currency, the Democratic party has
never abated its opposition thereto |
and sgnaIiZed its hostility in the re-
cent session of Congress by strenuous
antagonism to the bill authorizing the |
extension of the National Bank char
| tiers.
The Democracy is in favor of abol- |
ishng the National Banks, of repeal
ing the tax upon State issues. and of
the chartering of banks by the State
legislatures. If allowed to do so it
would bring the country back to the
old "Wild-cat" currency, of which
every State has had its experience,
and by which every man now over
fifty years of age has been more or
less a sufferer. One of the beneficial
results of the war, second only to the
abolition OF slavery, was the Kidding
of the country of this financial pest.
If there were anything which could
make that rebellion tolerable in the
eyes Of the civilized world it would
be that its suppression had resulted
in the abolition of the "wild-cat'
State banking system.
The greenback circulation was
brought into existence by the Repub-
lican party. But for the Republican
party we should never have seen the
legal tender note. And yet we have
in some portions of the country
fparty which, taking its name from
the color of the legal tender notes,
claims to be the especial friend and
guardian of the greenback circulation,
while it opposes the nominations of
the Republican party. The financial
epidemic of greenbackism broke out
during the period following the panic
Of 1873 and like the yellow fever, the
! eplzOGtic, and other infectious dis
eases, It has run its course and dis
appeared with the improved State Of
the financial atmosphere.
The Civil Service of this
Government, under Republican rule,
has been so improved that to-day,
whatever may be said to the contrary,
+ it is unquestionably the best service
in the world. Take the officers and
employees Of the seven great Depart
, ments, as body, and they will stand
the test ofintegrity, capacity, fidelity.
and diligence in the performance of
duty. These are essential prerequis
. ties, and no legislation can improve
the service in these respects. The
business of the people Is diligently
and faithfully performed, and the
public revenues are collected and
honestly accounted for. A statement
prepared in answer to resolution of
, Congress shows that prior to 1861,
when the Republican party came into
r power, the average loss by defalcatiOn
. in collecting the revenues of the coun-
try was three dollars and tifty-nine
cents on every thousand dollars, and
, in disbursing the public money the
: average loss by defalcation was five
, dollars and seventy cents on every
, thousand dollars. Under Franklin
, Pierce the loss by defalcation in col
Letting the revenues was six dollars
and ninely-tWO cents on every thOuS-
and, under James Buchanan three
! dollars and two cents it fell to one
dollar and ninety-One cents under
/ Abraham Lincoln, rose to two dollars
and six cents under the Democratic
/ administration of Andrew Johnson,
! fell again to one dollar and twenty
= four cents under President Grant and
TO one cent on the thousand dollars
= under President Hayes. From July
:, LIST, 1861, to June 30th, 1879, the aver
u age percentage Of loss by defalcation
in collecting the revenues was re-
duced from three dollars and fifty.
:, nine cents on the thousand dollars to
one dollar and tWenty-eight cents
=, and in disbursements the average loss
= was reduced from five dollars and
! seventeen cents on the thousand dol
= lars to ffty-SiX cents. Since then the
+ percentage of loss by deialcation both
i, on receipts and disbursements has
y been so much further reduced as &c
=, become an unappreciable quantity.
: During the past six years the Inter
a nal Revenue service has collected
- S74S, S31 ,071.01 and discussed 81 .0S7.
:, 10000 without any loss by defalca.
- tion.
+ What valid reason can be
q assigned for IA change? Will the
y Democratic party suppress violence
, and fraud at elections Will it give
you better currency? Will wages
= be advanced Will the value OF
farm products, and of fiOcks and
E herds be increased by Democratic
= tariff legislature Will Investments
be more secure and productive than
: now? Will education be more sure
! ly promoted? Will it be wisdom in
: a prosperous and contented people to
q jeopardize their material interests by
= placing in power the Democratic
> party, which is pledged to the repeal
of those laws which an experience OF
over twenty years has proven to be
:, beneficial to all the great productive
y commercial and financial interests oil
= the country? You know what the
= Republican party has done. 1t has
: given you good laws and honest adj
4 ministratiOn, it has advanced liberty
: and equal rights. Every page of our
: history since 81 is embazoned with
9 . the record of its achievements both
: in war and peace. 1t will establish
. the reign of law and it will continue
to advance the progressive civaliza-
, ton of this great American people.
g
/ LYNCHBURG, VA, October 12.-