Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-08-01

The Democracy has a great deal to
say nowadays about billion-dollar
congresses, enormous pension rolls
and great eXtravagances Of numerous
kinds which they desire to hold the
Republican party responsible for, and
the Republican party is perfectly
willing to be held responsible for all
that it has done, and it has no apollo
gies TO make. Abstractly, the spend
ing Of billions looks enormous. When
it is taken into consideration that ii
has billion dollar matters TO look after,
that changes the face of affairs.
1t took several billions to supply the
sinews OF war in the work of getting a
Republican peace out Of Democratic
rebellion, and when that rebellion was
crushed, the government, in the hands
Of the Republican hosts that had
saved il, found itself the pOssessor OF
a demoralized treasury and an enor-
nous public debt, in addition to hav-
ing several million dollars of paper
currency atloat in the country. In
1867 the floating obligations OF the
government were all gathered in and
funded, and then trouble began in
earnest. The Republican party, alive
to the interests Of the government and
jealous Of its integrity and honor, pro-
ceeded 10 issue bonds bearing as low a
rate OF interest as could be obtained,
interest and principal payable in gold.
At this crisis that preposterous
theory Of paying off everything by
greenbacks issued by the government
was sprung. 1t was proposed TO pay
all outstanding obligations in this way.
The greenbacks were not provided
with any redeemer, and indeed this
was their strongest card They were
TO be put into the channels Of trade
and worn out, the last man holding
them, Of coulse, being out the face
value Of the same. Strange as it mal
seem, the adherents Of this new gov
ernmental experiment were many anC
under the lead Of George II. Pendle
ton OF Ohio, the Democratic party be
came sponsor fOI IL.
This plan took the West by storm
and came near disrupting the country
and annulling the work OF the war
Fortunately the better judgment OF
the people prevailed, and even the
Democrats repudiated the greenbacks
The theory was afterwards taken uI
bya Greenback party, which ran Peter
Cooper for president in 1876, and has
been playing a minor part in the poll.
tics OF the county ever since.
In 1865 the Republicans, in their
platform, were outspoken in behalf OF
sound money and pledged the honor OF
the party to prevent the degradation
OF American securities and possible
ruin Of our financial system. This
was the imitation scheme that came SO
near precipitating a crisis. 1t was
even made a part Of western state
platforms that all taxes and sources of
revenue should cease and the expenses
Of the government paid by paper
money. The Republicans had a con
slant wrangle with infationists until
1879, when il was ended by the sue
cessful resumption of specie pay
ments.
Straight along and continually the
Republican party has not only had Ia
fight with the exigencies that began
two decades ago, having their origin
in a Democratic rebellion, but il has
had since TO fight the fillibustering
and distractions of the Democratic
party, yearning and painting for rule,
and in that handicapped by crankcries