Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1884-10-20

These were held by the Rothscbilds,
jay Cooke, Gould and men Of that
stamp. He could not make II palmer
II he had the power OF Clay or the elo
quence OF Calhoun or Webster when
he said the paid agents of the bond
holders were I'm the lobby petitioning
the passage Of this bill. Twothousand
national banks only were in exist ence
then This bill was In their interest
and was not dollar In the pocket OF
the farmer, mechanic AM 09-lO0
OF the citizens, but 80 l-3 per
cent In the pockets OF the rich.
They stopped not here in 1869. In
1873 the Republicans passed the law
demonetizing silver. The capitalists
held the gold and the poor man the
! silver. This passed because England
and Germany had done 80. The poor
people held no bonds but the capitalists
did, on which they could get gold
These bonds increased again in value,
as consequence, 80 is per cent. The
circulating medium of the poor-sil-
ver-wRs taken away again. Then
came the panic Of 1873, brought about
by this Republican policy Of admins
tering the government About this time
800, 900, 900 was taken from circulation.
In 1875 n law passed to resume specie
payment in 1870, and NOO,0 600 in
legal tenders should be destroyed out
of 81 900, 600 600. leaving 5000 GOO, 900,
but In 1873 the Democratic party got
in power and remonetized silver and
issued certificates for bullion, which
was az good money as any in the world.
They stopped the destroying of legal
tenders after S5i, 600 900 had been
burned. By this means the panic was
checked.
These things proved clearly that the
Republican policy was wrong. The
Democrats held that legal tenders were
good enough to pay duties, but
a Republican congress did not agree TO
this and a compromise measure WAS
substituted Sherman violated the
law and carried out the Democratic
policy by issuing orders TO receive
legal tenders for impOst duties. The
policy was approved. Legal tenders
went up TO par value. A law passed
| 10 reduce the interest on the public
! debt, but was vetoed by Hayes. IL
was afterwards carried out into effect
by Windham, secretary ofthe treasury.
| The interest bearing debt was formerly
50, 0O0, 600 900, but now Is 81 ,0O0, 0O0, 900,
and yet the tax Is the same, except on
tobacco, quinine, patent medicines
and 4 per cent. less on imports. The
| tax could be reduced half, bat propo-
sitiOn to reduce one-fifth failed. De-
feated by the Republicans and
/ forty Democrats, 55,000000 peo-
pie are taxed for the bene-
| fit Of 100000 manufacturers
II the tax were lower the government
would get more revenue aud there
would be less burden Of import dues
| The tax was 30 great that practically
| no goods came to this country, and
very little tariff was derived there
| from. The duty on knit wooden goods
had been increased by the Republican
party to so per cent, and this was n
class of goods necessary TO be used by
all classes Of people. They paid 81 50
only 81 90, because of the
tariff. The American manufactur.
ers could reduce their price 10 81 u or
81 20 and keep foreigners out of the
market. Blankets Eold here for SO
that could be bought I'm England for
49, The manufacturers here could
sell 40 S. and s. 40, or even SO, aud
keep England out. The government
got none of this tax, but II all went To
| the American manufacturers. With,
say duty OF 20 per cent, England
would come into the market and the
government would get the tax. a
great many articles OF prime necessity
paid very high tax. while other
articles OF luxury paid n compare.
lively light tax. Among which
were silks, brOadeloths and diamonds,
He did not favor high tax even on
these articles, for they would not be
imported and no tax would be received
by the government. But articles OF
necessity he thought should pay the
lowest possible tariff. About 1000
items were taxed. The import dues,
he argued. should be reduced as the
public debt was lessened President
Arthur In his last message to congress
recommended reduction and like
wise did the Republican tariff
commission, They said no harm
would come OF % per cent reduction,
but the party WAS not satisfied.
From 1901 TO 1850 the Democrats
gave o., 100000 acres of the public do,
main to the states for public improve
mentB. From 1850 10 1872 the Repub-
licans gave I40, 000, O00 acres To private
individuals Of which 100000, 600 acres
are not yet earned, for the railroads are
not completed, Up to 1882 not an acre
had been reclaimed.
In 1853 the Democrats passed bills
and bills which would have reclaim ed
5000 900 acres but they went toa Re-
publican senate and were never acted
upon. They were there to-day. Again
SCI 900 coo of the public money was
granted by the Republicans to these
railroad corporations of the Northwest
Then originated the Credit Mobilier
scheme, for which capitalists, lobbyist
and beggars asked II should be legal.
lied, Members of congress voted
for the measure and got
bonds fer doing so and In
this way came 10 be directly inter
ested. OF these was James q. Blaine.
$50 100000 was granted for the con.
struction ola railroad from Omaha Il
the Pacific with twenty sections oil
land per mile additional, for which the
government was given first mortgage
bonds on the road TO make good the
loan. Afterwards Il was made second
| tuortoaUa inataad ~ frat and Tapnaa 4.