The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-22

REN@ SAS a 4O SAA40 SAA9t GA S9( &A04
held out when he was a candidate for the vice
Presidency am quite sure all his hopes were
not realized. / do not know whether it was his
fault IN promising, or the fault Of President
Cleveland in not redeeming the promises, where
the blame rests. Snficientisi it to say, was called
suddenly in the campaign OF 1884, to reply
to Mr.. Hendricks. He said there were 800, O00,-
600 piled up in the Treasury OF surplus revenue,
put there in order to make times hard. 80 that
SPECTATORS might grind Town the people: and
there it was. There was enough there, accord
ing to Mr.. Hendricksis calculation to pay so
much to each man, woman and child in the
United States-6O into 40O-making about So
apiece. children included. There was enough to
buy every family in the United States so many
barrels of ffour-I don't know how many; I have
never seen the -four distributed; / know have
not got mine, anyhow. This was not stated in
so many words, as charged. 1t was only said
that Governor So-and-so had said so, but it was
not true in that. We had $40, 600, 900 belonging
to Uncle Sam, or to you. 1t was put there for
the purpose OF maintaining redemption, SO as to
keep our notes beyond peradventure at par
with gold. All the rest of the money was the
money of the people OF the United States who
had trusted to the honor of the United States
to paw 1t back when they should call for it. It
was deposited there, and the depositors had re-.
ceived silver. gold and currency certificates.
which were in wide circulation all over the
country. and was among the most active money
of the country, so that this statement was false
to with, as stated. There was 10 such
money there of the people. There was so much
and no more. Well. now, when Cleveland
came into power, if he was bound to do any
thing, because this statement made by Mr.. Hen
bricks was taken up all over the country and re-
peated by every local s1uunper from Texas up to
Minnesota and allaround about, they didn't think
it necessary to tell that down South-that was
not their reason for voting for Cleveland-tEey
knew why they would vote for Cleveland-on
account of the recolleetions of the war Applause
and cries of 'Rebels"]. but in the
North it was a very taking cry
now, if Mr.. Cleveland was bound to do
anything, he was pledged by this statement of
Mr.. Hendricks. Well, has it been done2 Gen
eral Harrison has answered that question. No,
sir; they went on accommodating more and more
money. pillng million upon million. aud million
upon million, for many months. They paid no
attention to the public debt. Why, in Repuo-
tican times, we used to pay $ll0, 900. 900 a year
of the public debt. While 1 had the honor of
being Secretary of the Treasury, when
ever the balance to the credit OF the
Treasury went over a certain sum we applied
every dollar of it to the payment of the public
debt, and thus reduced the amount of the inter
est and the amount of the principal And at the
sane time we reduced the rate of interest by a
process of refunding. When the war closed the
debt of this country was s., 700. 600, 900 and
some odd millions, besides about a thousand
million unascertained debt due to our soldiers.
Under the policy of the Republican party we
rapidly paid off this debt, at the rate of $780,
900, 900 a year, until now the whole amount of
the bonded debt of the United States is less than
81, 200. 000, 900. The interest on the pub
lie debt formerly, at tho close of the
war was Sl57. O00, 900 a year. Now tits $45.0O0.0 900
a year. Under the operation of a Republican ad-
ministration we not only reduced the principal
by paying off the debt, bat we reduced the inter
est by the process of refunding, converting the
bonds first into five percents. then four-and- a
half. and then four, and then three. and now we
could almost sell the bonds of the United States,
not bearing interest at all at a premium. l
guess we will try that next time. Did the DEM
Ocratic party pursue this policyaS Not at all.
They commenced boarding the money. and kent
on boarding it until moro than $50, COG, 600
of money had been accumulated more
than we ever thought was necessary; and it was
not until both houses of Congress, one Repub-
lican and the other Democratic. passed q bill re-
quiring 1t, that a payment was made
out of this money on the public
debt. Then Cleveland, the Democratic Pres
ident, whom you all voted for, vetoed the bill
and Endorsed his reasons for not signing it
killed it dead; and then they commenced buying
bonds. Whether that will continue after the
election is over | will not guarantee. They have
been buying more or less bonds since that time.
Notwithstanding the bill was vetoed. But after
the election is over John Morgan will be- cap
tured, and that will be the end of 1t. They didn't
carry ont your poll:y,
They said they were going to turn the rascals
out. What rascal have they turned out9 Was
there a single Republican officer in Indiana
against whom these men dared to say he was
either a rascal, a defaulter or a theft The SEN
ate of the United States, when nominations
were pending before it, called in vain for rea-
sons. We tried to get MI. Cleveland to tell us
why he turned out these rRscals; what was the
matter with them. We never could find out.
He said he would not tell. Laughter. He
would not tell on compulsion. Like Jack Fail
staff. he never told on compulsion. So. my
couutrymen, l am justified by public records in
saying that, among the hundreds of thousands
of men in public ofice-because there are
nearly one hundred thousand postmasters-
there was not one single Republican, so far as 1
know, that was turned out of Office because he
was a d~efaulter. THIEF or rascal.
But, when they came to put them in-I won't
tell the story. You know better about it than I
do. tGreat laughterand applause I have said
that | believed they put in more rascals, and
thieves. and jail birds in eighteen months than
We did in twenty-four years. They take offense
at that and ask Inc to name the r~ascals. but /
cannot, | leave it to you, the good people of Indi-
ana. and / will ask you whether or not, on the
whole, you have improved your condition by
turning the Republicans out and putting in
Democrats instead, except you have a hungry
fellow at the crib instead Of one that was reason
ably satisfied before.
What else has been done2 What measure has
been proposed l say to yon without fear of
contradiction. and | give it TO you to take home
and think about, there is not a single proposition
of public policy now before Congress upon which
the President and the members of the House
agree. They cannot formulate q single measure
upon any question OF public policy Try them
on the tariff question, and try them on the silver
question, and Cleveland is all one way and the
members of the House all the other.
But look at the glorious results of their for
eign policy! Just think of that a moment.
Laughter. Here is Brother Bayard. know
| him as we'll as / know any of you, for / served
many long years in Congress with him. He is
debating our foreign policy. What do you
think of itl
When General Grant had a bill against Great
Britain for the work of her cruisers upon our
1 ON M 80 1rNIn 70 ~ uDan h. $780, -.-&lo
demand to them that the matter must be settled.
that the time had arrived when Great
Britain must Jay for the DANA
ges she had done to our commerce. They
knew what that genule demand meant They
knew very well that that demand of the Ameri-
can people had to be met, so that in a short time
Sl5, 500, 600 was paid into our treasury to be dis
tributed among those who had suffered by those