The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1888-08-08


our free government is so great as this. The
corrupting and enslaving power of gigantic
wealth in the hands of the privileged and pre-
tentious few, who hang and fatten like huge,
hideous parasites on human toll and suffering,
has been in all lands and all ages the poison
Gus bane OF liberty, the mighty and malignant
canker preying on the natural rights OF man,
and eating away all the safeguards OF freedom
and equality before the law. Before this
power all past republics have fallen, and the
one we inhabit this bright star of the western
sky, this last hope of humanity, will follow in
their wake If the conspirators who worship
Plutus, the god of wealth, are to be again en-
trusted with It's destiny. The truth is that this
government, under evil policies, has already
travelled fast and far in the wrong direction
its spirit and its original aim ard purpose have
been TO an alarming extent paralyzed and per-
verted.
Laboring Men Too Patient.
The laboIng people themselves have
been too patient too forbearing. They have
sen their dearest interests trampled
upon, and their hard-earned wages gam
b ID away into the pockets of specula-
ing, predatory politicians, and into the iron
bound Golfers of their millionaire followers.
while the power was in their own hands, by
united, organized action of the ball0t-bor 10
crush the party which devours their substance.
/ do not believe any other people on the globe,
except our own, would have submitted, unless
congress of March, 1869. whereby the plain,
explicit and clearly-understood terms of the
legislative contract for the payment of the
bonded national debt were openly and con-
temptuously set aside, an other and different
terms inserted, increasing the gains of the
bondholders and the burdens of the taxpayers
over five hundred millions of dollars. BY one
dishonest stroke of a dishonest pen, guided and
held by the dishonest leaders of great party,
the debt which labor has 20 pay was swollen %
ha Nf,1
crime against the American people of which
heaven, earth and hell will in due time and in
their own way, take jurisdiction. 1t committed
a black and infamous forgery by writing into
the face of an already duly executed and bind
ing obligation most unrighteOus falsehood.
The great bulk of our bonds, the five-twenties,
were payable in greenbacks, aud the authors of
the act of March, 1869, knew il was false when
they declared that they were payable in coin.
In 1865 the republican pa-ty in state conven-
tons, both in Indiana and Ohio, as well as in
other states, declared that the fve-twenty
bonds, comprising they did three-fourths of
our entire bonded debt, were legally payable
in the greenback money. Morton, Sherman,
and every other republican leader OF
any note at that time in the Mis-
sissippi valley stood upon that principle
On the 18th of March last heard Mr. Beck, in
the senate, deliver his mastery and powerful
speech on his bill for the issue of coin certifi-
Gates, and in reply to Mr.. Sherman, concerning
the course of his extended and very able ad-
dress he touched upon the iniquitous origin of
our financial system, and in the presence and
hearing of Mr.. Sherman, and of all the other
republican senator's, used the following strong
language:
United States with that very deprecated currency
averaging only about 80 cents to the dollar In gold
that time. OF course they paid the greenbacks for
them at par. One gold dollar bought two in paper
the paper dollar bought bonds at par with per cent
gold interest Thus II per cent was secured, aud
they called that patriotism They next had all the
currency of state banks egslated of existence by
a tax that that their Currency and theirs alone
as national bankers should circulate over the land
The principal of their bonds made expressly
payable in greenbacks. Even Mr.. Sherman admit
ted that in 1858, in a celebrated letter which has
been read time and again, in which he denounced
them as extortioners for claiming that the bonds
should be paid in coin. OF he was right be-
cause each note had written on its back that This
note is legal tender its face value for all debts
public and private, except duties on imports and
interest the public debt" Yet, in the face of
that when congress met in March, 1862 IL declared
and Mr.. Sherman led the assault greenbacks that
the greenback should not be received in payment of
the principal Of the bonds, although IL was written
upon il that 1t should be- and that the bonds should
all be paid in coin. The senator from Nevada (Mr.
stewart republican,, very properly said the other
day that the advantages the bondhoderS had re-
ceved from congressional legislation had added 10
their value 20 per cent before the act of 1873 was
passed.
To this statement of eliminating facts neither
MI. oneIuldn nor MS pOllJlCdl hSSOcldleS nau u
word TO utter In reply; and then, as If in a
spirit OF cruelty TO presidential candidate,
Mr.. Beck resurrected and read Mr.. Sherman s
famous letter of 1868, as follows:
DEAR SRI pleased to receive your letter.
Ny personal interests the same as yours; but,
like you, do not intend 10 be Influenced by them.
My construction OF the law Is the result OF careful
examination, and feel quite impartial court
would affirm it, IL the case could be tried before
court i send you my views, as fully stated in a
speech. Your idea Is, that we propose 10 repudate
or violate promise when offer TO redeem the
principal in legal-tenders.
/ think the bondholder violates his promise when
he refuses to take the same kind Of money he paid
for the bonds. II the Is 20 be tested by law
am right; IL IL Is to be tested by Jay Cookies adver-
tisements, am wrong. hate reputation, or any
thing like H. but ought not 90 be deferred from
doing what Is right by fear of undeserved epithets
II under the law as IL stands, the holders OF the
hve-twenties can only be paid In gold then are
repudiators II propose 10 pay otherwise. II the
bondhoIder can legally demand only the kind Of
money he paid, then he Is repudiator and an ex-
tortioner TO demand money more valuable than he
JOHN SHERMAN.
The reading Of this letter was about as sooth,
ing TO Mr.. Sherman, under the circumstances
as the application of snong pickle brine would
have been to a raw spot on his body. Ii is a
mans own letters, and not those which others
may write, or which may be forged against
| him, for which he is justly responsible. Here
is the deliberative statement of the ablest man
to-day in the republican party, that in enacting
the law of March, 1869, they legalized repudia,
ton and extortion on the part OF the .bondhold-
or; reputation by annulling the old contract
and forging a new one, and extortion by wiring.
| ing from the hands of labor enormous sums OF
money not honestly due, and for which no con
sideration OF value was ever given 10 the cause
Of the country in peace or in war;
A False Financial Policy.
I am aware, my fellow-citizens, that these
points have often heretofore been discussed In
your presence. / have repeatedly discussed