Year: 1868

all wiped ont 10 morrow by an issue of green.
backs, it would not relieve the fear OF pat.
riots /; labor would still be cheated BY false
dollars, our standard Of value would still be
shifting. Taxation would be kept up by the
reconstruction policy, for it is despotism more
than debt which makes taxation so heavy.
Nothing would be settled. The Judiciary
would still be trample1 under foot, the Ex.
ecutiye would still be manacled, so that il
could not punish crime nor pro;ee, innocence.
But strike down the Congressional policy,
and ali will be set right"


EXPENSES OF TUE GOVERNMENT coNrRASrED.


Since the war closed in 1865, the Govern
ment has spent for its expenses, in addition
70 payments ON principal or interest Of the
puohc debt, the sum oil more than 81 900, ,000..
ooo. vi this sum there has been spent
nearly SS0o, ,Oo0, 900 on tho army and navy,
ana Tor military purposes. This is nearly
one thlrd ot the national debt. This was
spent In the time of peace. The cost of our
navy before the war was about SIS. .000. 900
each year. Since the war, when our ship.
pinS has been swept from the ocean by taxa.
Ilon, the annual average cost has been $30,.
uUu,uoo, although we have now no CARRYING
trade to protect. While money is thus vast.
| ed without scrrple upon the army and navy,
If any aid is sought TO lessen the cost oftrans-
portation for the farmers of the West, or to
cheaper food for the laburers of the East,
we are at once treated with Congressional
speeches upon the virtues of economy. If
from this amount there had been saved and
paid upon the debt the sum of $500, ,000, 900,
how changed would our condition have been.
With this payment. which would have cut
down the debt to about 50 200, 900, our credit
wound ut least have been as good as that Of
Great Britain.


THE REASONS OF NATIONAL pISCREpIT.


1t is because we do not thus apply this
money to this purpose, but spend it upon the
negro policy, the military despotisms and
other abuses OF government, that our credit
is 50 low. The world saw that we were
violating our faith with the public creditors
and the tax payers alike, when the money
was used TOR the partisan purposes Of keep.
ing the South out of the Union until sham
governments could be manufactured by mil
itary violence and Congressional action.
The world not only saw the monstrous diver.
sion OF the money wrung from the people
by taxation, but it also saw that it made,
through long series of years, still greater
annual taxation unavoidable. When the
| entire control Of the Southern States is given
over, unchecked by the intelligence uf the
white race. to the untutored negroes, whom
the people of the North have said were unfit
| to be voters, when the unfortunate African,
drunk with unusual power, and goaded on
by bad and designing men, snail make life
and property unsafe, and shall shock and
disgust the world with outrages, we shall be
forced to raise and pay still greater armies.
Up to this time the South has had at least au
intelligent tyranny in military officers. Eve.
ry man who is not blinded by hate OF bigotry,
looks forward with horror to the condition
of the South under negro domination.


The bad faith to the public creditor and
ta< payer in TINS unsettling our Union, Of
keeping the South in d condition where it
cannot help the national prosperity, but il
made heavy load upon the country is the
real cause OF our debased credit The tax.
payer was told that the burdens put upon
him were to pay the debt but the money
was not used in good faith to him, for the
debt still stands; nor in good faith to the
creditor, for he was not paid what he should
have been but 1t was used in way that
harmed both, in way that tainted the ma.
ton credit kept up taxation by keeping up
the rate of interest, while it sank the value
of bonds, and with them carried down the
paper currency, and thus wronged the labor.
er and pensioner. But for the policy of bad
faith. of partisan purposes, mad folly, we
could to-day borrow money as cheaply AS
Great Britain but we have cursed the tax.
payer, the laborer, the rensioner, the pub.
lie creditor, for the sake Of cursing the peo.
pie of the South with military despotism and
negro domination. Every one must see that


if we had paid off one fifth Of our debt, had
kept down the cost of our government, had
given peace to the Union, had built up indus.
try and good order in the South, not one Of
the evils which now afilict us could have ex.
listed. Our whole condition would have been
changed.


WHAT TUE DEMOCRACY DEMAND.


We demand that our currency shall be
made rs good as gold, not 10y contracting the
amount but by contracting the expenses of
Government. We are against measures that
will pull down business credit, and call for
those which shall lift up the National credit.
When we stop the waste which forces us TO
pay usury of ten per cent, and take a
course which will enable US to borrow money
upon the rates paid hy other nations. we
shall add to the dignity and power of our
Union. When we give value to our bonds by
using the money drawn by taxation for the
payment OF our debt and not to the military
and negro scheme, we shall relieve the tax.
payer, the bill holter and give strength and
value to the claims of the public creditor.
We have seen the mischief wrought out by
the policy Of the last three years. 1t will
De as huruul In the future as il has been in
the past: Yet the Republican party has
approved, and is pledged to it. We have
shown the policy of using our money to paw
our debts would have helped us in the uast.
II Will do the same for us in the future. To
that policy we are pledged. There is not one
man In our party in this broad land who has
doubts upon this point. Itwas never charg.
ed that's single Democrat in the United States
ever favored the negro and military policy
upon which the credit of the country has
been wrecked. Our remedy Is to use the
puoiic money to pay the pu blic debt. 1t is
simple, brief, but a certain remedy for our
National malady. Onr ailment is debt, az.
gravated bv despotism.


PERTINENT QUESTIONS TO REPUBLICANS.
In another way the Republicans do q con-
slant wrong to tie bondholders. In answer
20 the complaints of heavy taxation, they say
1t cannot be helped with our heavy debt, and
thus throw the whole odium on the debt.
Whv dnptf tbnx- ka1l kho k.,kh pd ca 0na.