Year: 1868

oicoisoi ot@lCo1 -ahu d oSucc VI lhJuf
which harms the national credit. This
unwise distribution Of the currency lies a
the foundation of the feeling in certain
sections of our country against the bond
holders. 1t is no unusual thing to see il
stated, in the papers of Chicago and other
western cities, that the grain market il
choked for the want of that currency
which rightfully belongs to that section
Not only is the farmei thus paid lower
price for his producs, but the carriers upon
our lakes and canals, and the whole com.
merce of our country, internal and foreign
are injured by this lack of foresight on the
part of our rulers. Applause.


But the evil does not stop here. When
the currency has been used to place the
agricultural products ia the markets Of the
east, and is no longer needed for those
purposes, it piles up IN vast volumes in
the cities of New York and Boston. During
the winter months, those who hold it are
impatient to have it proftably employed.
They invite borrowers to use it for purposes
that end in these wild and demoralizing
speculations that have done so much to
corrupt the morals and destroy the habits
of industry, which alone can make a peo-
pie truly prosperous. Not unfrequently it
is used again to buy up again the beef,
pork, flour, and grain in the hands Of east
srn holders and in the warehouses of our
commercial cities, and to put up their
prices against the laboring poor, the toll
ing mechanic, and the consumer of the
east,-in this way checking the expecta.
ton abroad, and destroying the commerce
of our lands [Cheers.] Now, if, by wise
craftsmanship, under this same national
banking system, care had been taken to
place this capital where it was needed, the
share which would have been given to the
western states would never have remained
idle, or would have been employed for
hurtful purposes. There would always
have been use for that capital there. which
would promote prosperity and advance
the healthy enterprises of great and grow
ing communities. This error Of our rulers
is attended with another great evil.


There was no provision made for the
south ; no care taken to receive their pres
perity, so that its PEOPLE might aid in ad-
varcing the prosperity OF our land. 1t is
for our interest as well as theirs, that
their pursuits should again be prosperous.
We find that this error in the distribution
OF our currency Is cursing our business
with enormous rates Of interest. 1t lessons
the prices which the farmer gets for his
produce Injuries our career, and harms
both our domestic and foreign commerce.
This great, fragrant, national evil should
have been corrected ; but it has not even
received the attention Of the party in
power. [Cheers.]


There are other great wrongs to which
l will briefly allude, and which l will dis
cuss more at length on other occasions.
We say that taxation should be equal upon
every species Of property, according to it's
real valre. The republicans say so, too.
They declare, in their fourth resolution,
" That it is due to the labor of the nation
that taxation should be equalzed." With
this declaration upon their lips, will they
tell US why they made it unequal Will
they tell why, for four years, they haye al
lowed this conceded injustice to remain
upon the statute books? How can we be-
licve that they mean what they say?


They charge upon us that we are in ia
vor ofrepudiation. Have those who make
this charge frankly said how they meant
to deal with the public creditor ? We have
said that, when the agreement was that he
should be paid in gold, he should have it !;
and, when the contract did not define in
what he should pe paid, he should be given
a money as good as that which we use for
the sacred purposes of paying our pensions
and rewarding the toll of the laborer. We
have sought to place the claims of the pub
lie creditor among the sacred things OF a
nations faith. [Cheers. We have tried
to maintain policy of security which
should make this debt sure, and Of wisdom
which should put the nations credit SO
high in the markets Of the world that the
public creditor, the public pepsioner, and
he who tolls for the public gooi in the
workshops or in the field, should all be
paid in currency mace good by a wise
and honorable conduct Of public affairs.
[ Applause.


Address from the DemOC ratio


state Committee.


Rooms OF TIE DEMOCRATIC STATE