Los Angeles daily herald., 1888-10-18

| if understand his position, and If
misrepresent him l shall be ready 10
apologize, no man more so-by buying
the outstanding bonds Of the Govern
ment which are at premium OF 2S or 29
per cent. Think of it moment. Who
would be benefited by that? If were
disposed to create a feeling of antago-
nism on your part against the men who
hold those bonds, I might relate little
story that would stir your blood. You
remember very we'll what are called 800
bonds were purchased with greenbacks
when greenbacks were worth only 30 or
60 cents, at most 20 cents, on the dollar
in coin. You remember that those
bonds were converted into these 4 per
cents, and you recollect perfectly well
that the first act of Congress under
General Grants administration was to
make those bonds, which were payable
according to their face or endorsement in
greenbacks, payable in coin, and you
know the effect was to send them up 80
OF 40 per cent in value, and you know that
now they are worth % per cent premium,
which makes profit for those who
originally purchased them, OF So per
cent, You know that, and yet the
theory of the Republican candidate for
Presidency is that your money should be
taken from your pockets without neces-
sity, these bonds not being due until
1891, and poured out with this immense
premium into the pockets of the bond
holders of the country. Applause.l l
am not going to play the demagogue at
all; l am not going to say word against
the men who hold these bonds; but be-
tween them and the hard working people
of this country, am on the side of the
people. Applause.
AN INTERLUDE.
Here the Judge produced his bandana,
which was greeted with renewed out
burst. Whenever he took it out there
was shout. The Judge said about this
The Republican papers say, "The old
fool is al his tricks; he is playing actor
it is monkey trick of his to pull out his
bandana." Well, it is not so. That is
all am going to say about it now.
TWO METHODS OF REDUCTIONS.
Continuing his speech the Judge said:
The Republican party has admitted that
this surplus is an abuse. Its United
States Senators have admitted it, for they
have now brought bill which they say
will reduce the annual income of the
United States about $75,00O,O0O, but
there is a striking difference in the
methods. We propose to regulate the in
come by reducing the taxes on the neces-
saries of life. [Applause.] They propose
to increase the taxes on the necessaries
of life and reduce the income by
taking the taxes from tobacco and
whisky, to a great extent, and on
that necessary OF life, sugar. We say
Give the laboring men Of this country
cheap clothing, cheap tools and cheap |
lumber with which to build their houses
and shops. The Republican party says |
No; increase the duties las their bill |
on the clothes that the poor
man and his wife and children wear; on |
his implements of industry. on his lum-
ber, or to make but trif1ing reduction |
On that, and thereby make the burden of |
The tax fall principally on him.
THE PEOPLE HUMBUGGED.
He then characterized the tariff tax
IS being insidious and oppressive to
he people of the land. He said it was |
to take 5000, 100000 or $780,.
100000 without them feeling it. 1t is
not tax on property, but upon con-
and the poor man, therefore,
pays for more than the richest |
man in the land. Such a sys-
.em as this cannot possibly prevail, |
said he, unless there is some humbugging
Of the people. He claimed that there |
was no necessity of encouraging the in
lant industries, because they had grown
to be man. The Democratic party, he
held, was essentially the party of the |
aboring man because the principles of
the party made it so. Tariffs had been
raised from 20 to AZ per cent, but had
The wages of the laboring men been
raised in the same way, he asked.