Year: 1868

but avoid the charge of incipient repudia-
ton. Why has not that been done already?


If you can tell me why God in his provi-
dence has seen fit to affiict this country with
such President as Andrew johnson, | can
answer the question. For three years he
has been sitting there. an obstruction to all
proper legislation and administration. II
we propose new bond with low interest he
calls before him the correspondent of the
London Times, and fills him with appre-
tensions of reputation to be scattered all
over Europe. If We put tax on whiskey,
which, if properly collected, would relieve
US OF all other internal taxes, he is careful
to see that 1t never goes TO the Treasmy.
He counsels with the bi tersst opponents of
the war, md plots with the bittsrest rebels.
Their common purpose seems to be to keep
the country distracted; to defeat the recon
struction of the Sonth to advise. prompt,
and aid resistance; to encourage mobS and
murderers to fulfill their prophetic war OF
races: to keep the finances unsettled and
business men In doubt; to worry the men
who trusted the Government when they
would not, and make them unpopular with
the people; to magnify the burdens of tax
alton, and thus confuse the judgment and
tire the patience of the people. The more
distress, real or imaginary, they can produce
IN the country the greater will be their chanc-
es of political success.


They make the trouble and hold the Re-
publicans responsible for it. With John
son controlling the Treasury and all the Ex-
ecatiye Departments we can do nothing.
lie can, will and does thwart all our efforts.
1t the government now goes into The hands
OF the southern rebels with only such re-
straintS as their northern allies choose to
impose, capitalists will have no confidence
IN the maintenance of any new contract and
will make none.


But it is said, again, that this party would
pay off the bonds in greenbacks at once and
have done with interest. AT present We
have no surplus of greenbacks to pay with,
and unless taxation is very much increased
we will not have for several years to come.
Whether the bonds shall be paid in green
backs Or gold is question for the future.
1t is not question for this year or next. 1t
may never be a question. Before we may
pay, gold and greenbacks may and probably
will be~of equal value. 1t may become
troublesome question at some future day
but why anticipate the trouble? Do not
the times furnish trouble enough without
this?


Yes; but the Democrats would print
green5acks enough to pay off the bonds.
That would give us 81, 500, 900, 900 of cur
rency at least if the bank issue was still
outstanding, $4,000, 100000 During the
war the Democrats declared that in time it
would take a cord of greenbacks to pay Tor
a cord of wood. They would thus fulfill
their @ owl own prophecy, Such course would
tors would not be the only sufferers. 1t
would discharge ALI private debts as we'll
Rut like the confederate currency IL would
have little value except to pay debts and at
ter that nobody would take it. 4 debtor
might sell horse for enough to pay for
farm he purchased on credit the year before;
but there the traffic would end; all trade
would stop; all manufactures would stop;
the poor would have no employment, and
property command nop price. But, after all,
it might not effect the discharge of debts
either public or private. Suppose the debt
ors should refuse to take it, and the Supreme
Court should decide the law unconstitution-
al and void. That would bring everybody
to specie payments at once. 1t is well un-
derstood that this court will ultimately rem
der such a decision on the present legal
tender law They only wait for favorable
time. Such an avalanche of irredeemable
paper might force the decision at once.


As proof of the financial ability of this
party We are reminded that in 1861 they
left the country free from debt, and that
under our administration debt of 81, 500.
O0e, 900 has been created. The statement
is not quite true They left the country IN
delt nearly 500, 100000 In time OF peace,
aud its credit so low that Howell Cobb, the
Secretary of the Treasury, Informed congress
in December; 1860, that he was unable; after
repeated efforts, to torrow the little sum OF
$4,000, 900 1t is true, we have large
debt; but who causedit? 1t will be ad
united that the debt was created to suppress
the rebellion, and the southern wing of the
party which now complains OF 1t got up he
rebellion to divide the Union. 1t ought al
so to be admitted, but | suppose will not be,
that the rebellion was prompted and encour
aged by portion of TIE northern wing.
Upon some portion of the Democratic par
ty, as at present organized, lies the whole
responsibility of this rebellion. Is 1t fair
then. to hold us responsible for debt
caused by the misconduct OF some OF our
opponents?


In 1868 there was great antl-war riot III
New York To suppress it and repair dam
ages cost the city large sum OF money.
Suppose these rioters and their sympathetic
friends the next year had formed party
and nominated a ii ket to contest with the
old officials the possession of the city gov
ernment, would they have had the check to
urge as a reason for the change that the
debt of the city had been enlarged the year
before During the war the beautiful town
of Chambersburg, in the State of Pennsyl-
vania. was burned by the rebels. A large
debt was created to rebuild it. Suppose
these incendaries had settled in Chambers
burg after the war was over and had finally
been placed on the Democratic ticket for To-
cal officers, would it have been altogether
modest in them to urge the people to select
them because the old officers had created
this debt? If discharged cashier, turning
thief and robbing your bank, and thus en-
failing upon it heavy debt, should, on his
return from the penitcptiary, ask to be re-
stored to his old place, and give as reason
that your bank was out of debt when he was
discharged and large debt was created by
his successor, would you be likely to restore
him? And yet the impudence OF the New
York rioters the Chambersburg lncendla-
ries, and the discharged cashier would not
be greater than that of the late rebels ana
their northern allies, who ask to be restored
to power because their own misconduct mas
forced the contraction of a large debt


The talk about relieving the country OF
its obligations, means reputation or 1t Is a
deception. They cannot levy the taxes n ore
iudiciously, nor collect or apply them more
honestly than anybody else. Their three
wears trial under Mr.. johnson has not de
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