The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-08-22

about 5000 n 600 or oAe-third of what it was at
the close of the war. More than $500 900 of
national debt bears no interest at all. and of
our bonded Indebtedness about $223 600. 600 bears
3per cent, and is due ON call: $3.50 000 900 bears
AZ per cent. due in 1884 and about 1871. 000 GEO,
or more than one half of orr interest bearing
debt bears only per cent, and is not due until
1907 When we consider that before the
war, when our debt was small, money could
not be procured forless than 12per cent interest,
the reduction in our interest rate, with orr en-
ormous debt is marvellous, and can only I've az
counted for on the theory of united country.
the developement OF orr material resources, and
the safety of Republican rrle Again, when we
look back to lS60, we find that there was but
$3.50 coo 900 of specie in the country and most of
that was held by State banks, for the redenp-
tiDn of their outstanding; deprecated notes,
while there was then but $297 ,000, 600 of paper
currency in circulation; or the total amount
of gold and silver and paper cur
rency in the country in 1860 was
but $4S7 GEO 900. The $207 0eQ 600 of deprecated
currency however was the principal circulating
medium, and in many localities the only circula-
ting mediuH whereas to-day, with little more
than GO per cent increase in population we have
In gold and silver and paper currency, including
about 2l7 600 600 iii gold and silver certificates,
all equal to gold, more than 81 zoe, 00a8o OF
which amount 1t is estimated by the directory of
the mint. there was March 81, 1854 more
than $780, 100000 in coin, and If we deduct the
gold and silver certificates we will then nave
left more than ST. 400 600, 00o, every dollar of
country In addition TIC this the balance of
trade is now, and has been for many years past,
many millions in our favor, constantly bringing
specie to our door, so that our bonds, formerly
held BY European capitalists have been returned
and are now held by our people, making
us independent in that particular This cor
litien of our financial affairs has been brought
about in spite of the Democratic party, and in
most instances over its protest; IN the
first instance they opposed the issuance of the
greenback and after issued denounced 1t and
contributed no little to its depreciation by OBJ
Stfucting measures to prosecute the war; and
after the war attempted TO force hegoYernment
to pay its obligations IN the very currency
which they had helped to deDFeciate And after
the Republican party had caused to be engrafted
upon our statute books a pledge for Its redemp
ton, the Democratic party still continued its
opposition; but no sooner had the green back
been redeemed than the Democratic party at
tempted to assume its guardianship, claiming to
have beenits friend from the beginning. Now that
theSupreme Court of the United States has not
only sustained the action OF Congress In issuing
greenbacls in time of war, but have gone still
further and held that it may be done in time of
peace, / presume the Democratic party will
claim creditor that. In short, the Democratic
party for more than twenty years have lived IN
the shadow of "a great and growing Nation, but
have never been wise enough to get a glimpse at
the sun until after the Republican party
had removed the clouds, and then they
have stepped forward with their shaded
and sutlived garments and claimed to have al
ways been in the light But, my fellow citizens,
the truth is: and impartial history will so record
it the only light the Democratic party has en-
joyed. is that which came to them from rekind-
ling the burnt embers of the Republican party.
CIVIL SERVICE.
The Republican party, in its platform at Chi
eago, said: Reform of the civil service, auspi-
eionsly begun under a Republican administra-
ton, should be completed by the further
extension Of the reformed system already
established by law to all the grades Of
the service to which it is applicable. The spirit
and purpose of the reform should be observed
in AL executive appointments. All laws at
variance with the objects of existing reformed
legislation should be repealed, to the end that
the dangers to free institutions which Turk in
the power of official patronage may be wisely
and effectively avoided indorse that delara-
ton, and so far, as your representative, have
voted for every bill looking to reform in the
civil service. / believe such service
should be conducted on sound bust
ness principles, and placed above
party obligations, and my short service in Con
gress convinees me of its importance. Two
years ago in opening my campaign predicted
that the question would be an important issue
in this campaign; and so it is. But how will it
be met by the Democratic party?
In Ohio the Democrats defeated Senator
Pendleton for reelection because he |
floor of the Senate. and elected in his /
stead, at the dietation Of one of the greatest /
monopolies in the world. Mr.. Payne. Many /
Of them opposed the passage Of the civil |
service law in the Forty seventh Congress and 1
some of their great public leaders have already |
expressed desire to make general sweep of |
faithful public officers in the event Of their ac
eession to power Now the Republican party |
has had the courage to reform existing abuses |
while IN control Of the administration of affairs
and its fulillment Of past promises is sure guar
antee that it will act in good faith in the future
so that confidently predict our civil-service |
will be thoroughly reformed and purged of all
that tends to corrupt the politics of our country.
PUBLIC LANDS
The Democratic party at Chicago declared in
favor of preserving our public lands for actual
5ettlers under the homestead law, and that all
nnearned lands granted to railroad companies
should be declared forfeited With that declar-
alton the Republican party is in harmony, as
shown by its platform adopted at Chicago, and
am heartily in accord with it, but the declare
ton Of the Democratic party at Chicago that no
further lands should be granted to rail
road companies is farfetched since no
lands Of any note have been granted
to railroad companies for the past fifteen years.
They will, however refer to this question to
blind the people as to the true issue involved in
the campaign, just as they are crying fraud
growing out of the election of 1876 If it be
true that fraud was perpetrated in the election
of 1876, then the Democratic party condoned it
by the ELECTORAL commission. and absolutely
abandoned it in 1880 by the refusal of both Til
den and Hendricks to again stand for election.
The bond of Mr.. Tilden to continue to act as
guardian and leader Of the Demo
cratic party was barred by the
statute Of limitations in 1880 by the nomination
Of General Hancock; but after November next,
Mr.. Tilden can qualify as administrator of the
deceased party's effects, if any it should have,
and wind up its affairs, inviting England to be-
come its purchaser in exchange for British
manufactures and to that extent let free trade
and free ships have the ocean.
RAISING REVENUE BY DUTIES.
The raising of revenue by means Of duties
levied upon foreign imports is conceded by all