Newspapers / The Wilmington Post (Wilmington, … / Sept. 1, 1878, edition 1 / Page 2
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THE WILMINGTON POST. W. P. CANADA Y, Editor and Proprietor. . WILMINGTON, N. C, Sunday Morning, Sept. 1, 1878 AllE JSBOUBBONS DYING osophical observations of -the action of a population, or a class of a population, thtf career of the Democracy, so-called, of North Carolina presents features which .are far more than noteworthy. Composed as they were very largely of the original ruling classes of the state, 'lneyvbaye borne themselves both 'in their defeats and their successes with a ' courage and an arrogance bred out of thair nr.hiAVAmants nurinir llvn flnnfpit- eracy, and with an, acrimonious bitter ness generated by their defeat and' its disasters. They have hesitated at no measure by which to regain powcr,lbey ' were not staggered by the mo'sJj appal- ling crimes committed by their minions, nor by legislation which lias blackened on statute books. And they st down dressed in the garb of their ill-gotten official authority with a coplacency and effrontery the very audacity of which .excited admiration. Not haunted by t - - 1 i ' r ' l ." ' trees, or those strangled and stabbed in Close is or auiousu, uor uy inc gnui Visions of the ghouls which led them to power, they reposed on their official cushions with as much self-approval and serenity as if they had been wafted ; to them on the downy wings of the evening breeze, . Q During all these years in which they , were step by step acquiring" by their various machinations complete control of the state, we have been intertained by this same boastful assumption as to their permanency in power and their eternal fixedness of supremacy. Never iL. s v. .tc . ' 1 t . . T . A 1 - confidence displayed. No monarch ' eveir sat with eo great composure upon his purple throne, as they in their posts of authority. They seemed to imagine themselves in the ascendancy by a sort of divine right, vouchsafed to them by some superior force entirely above hu man insight. There was a constant . parading before our eyes of traditions ' of ancestrol honor, of fields of marljtl glory, and of supereminent statesman- shin Thf whnlr iircrnnizfit inn sof'mod .'' to have passed into one conglomerate '- iinntliiuMpa liffoH oVirtvo I li v n nil ;- manners ol mantint. jNoiniDg less than the limits of eternity were to in r terupt their possession of power. ; This delicious ha.yucination has been remorseiy orusneu away. j. ney looteu tail n-y . .1 around and discovered that things were not entirely of that heavenly character which they had dreamed of. These " celestial Democratic souadrons were i ripe vim grumoiings anaoiner cariniy " failings. Some mcu heretofore assum iog angelic airs and manners, had lit upon the ground, and were walking round in the style of ordinary men JTho wings of such saints as Schcnck and Kerr were, clipped, and they began to walk upon the earth like other bipeds, ' ' mnA nnV llial. nlianoa main f)1i i luuuuibaiiiOi nuu- uun. nub ju tuc midst of these Democratic ranks their orthodoxy is boldly Questioned. The arersgo man who walks between the plough handles dares not stop to read the cock-a-doodle-dum speeches of our legislators, and the cross-roads grocer questions boldly why uuder the "prive leg tax" he pays as much tax as the largest "whole-sale dealer on our ; wharves, the man who deals by run . dreda of thousands, who rolls 'about town io his turn-out, and whose chips plough the high seas, lie does not understand why the exemption lor taxes was cut down from $300 to $25 ao that the average poor man had five , dollars added to his taxes, lie is both ; crcd also at the loss pfchis $l,500pf homestead, and scratches his head nwu uv ovvo iuv buciiu vvj-uiujj avtvoa lots with one of those ante-bellum writs ia his hands. And so. when the voting came, they woko up in the morning to find that the wholo bourbon art y had been hdney-combed by irreg ularities at the ballots. Great men had been squkhed, and new men had risen : up, ine iemocrauc xetnrus were as speckled as JacoVa calves when the cow had looked at the peeled sticks, and tho liourbon party began to com prehend that its prestige was gone. There was wailing and gnashing o teeth among the faithful, and soma fell into broad fuSitrs antl grin.vroiwibljr the end is not yet. . TLe Democratic papers have iuskted there were no Democratic rifle clubs in Arkansai The proclamation o; Oovernor Miller ordering such organ! xadons to disband, is best evidence that tae bull-doling movement had be come formidable, Ts the Inter Ocean stated, the companies were notorganized uoirr atata law, and had no power to tcr.bn to this point, and orders the tiSe clubs to disband. Will they do ,U! lhr Octxvu . V Tta KepuUicatts of Montgomery 3.!y, AiJu, nave twucd a circuiat an nouac4r their determination to content tre cicctica tcU la tlut county Ac, o. There were Kcpuhlicaa tote cast ed abrat J.u,Dceocratic And vet t-a rt Urr.s wcredxtorrsl so as to elect the Ct. SHERMAN'S GREAT SPEECH. SENATOR TlIURMANlMET AND i s vanquished.: J : A Master )y Discussion of the Nation a! Finances What Gives Value . i o the I Greenbacks. The ffn tionst JJauka an Aid to Re sumption. Democratic f on'piractea and " I -Frauds . Ex.- paedntc, tc, Ac THE ISiiUCS OF TUE BAY COXSIDFRF.D. Toledo!, Aug. otn. llie olilicaI campaign jin Northwestern -Ohio, was to-night opened on the part of the, Re publicans jby Secretary. Sherman, ' wB6 addressed a largely attended meeting at Whaler Opera House. The Secretary devoted his speech mainly ta the con sideration of the financial question. I y After soine appropriate introductory J remarxs Af. t?nerman proceeaea to say that silver; money is ' the best and most con venient for the market and shopping transactions of life. Silver, coins are more ' numerous than' coins ." of goJd, even in countries where1 gold alone is the standard of value. -The shillings and half crowns of Great Britain out numbered the sovereigns many times ; and in the United " States the silver coins issued from -February 1, 1875, to August 1, 1878, ; numbered 220,829,540, while the whole number of gold pieces issued during that time in the United States is 77 10,040. " No form of paper money car profitably take the place of silver. Oar eld fractional currency was the best substitute ever devised, but this cost annually nearly 4 per cent, to maintain it in decern : conumon, or nearly the interest of the money : while the amount' lost, wasted, and destroyed tv as a heavy tax ; upon - the people who used it. it lasted on an average only fifteen months, while coins last thirty. years, l lie largesj possible useot silver and its freest circulation t re indispen sable to any system of money that can be devised t but like ail other money, it must be maintained in some way at or near the intrinsic value of other money. If silver is coined at less than its market value and issued 1 without limit it will as- surely displace ' gold as water will displace air. Therefore, fractional silver is limited to foO.000,000, and is only issued when required in exchange for United States notes. If it becomes too abundant it comes into the Treasury for taxes and is paid out only when de manded or willingly received. -So the coinine of the new sflver dollar, though a legal tender for all purposes, ia limited by law irom 2,U0U,0UU to 4,UW,UUIM month.. The silver, in this dollar is worth less in the market, than the gold or even the paper dollar, and, if issued without limit, the silver dollar will surely depreciate below the gold dollar and will become the single standard of value. Ibis is as certain as the march of time. I .. : GOLD IN DISPENSABLE. But gold also is an indispensable standard of value. It measures all the larger transactions of business life. It is used as such by most Christian aud ciyilizea nations wt the world, auu its demonetization would be as creat an injury as the demonetization of silver. Both metals can be circulated at par whith the market value ol silver is lower than its legal ratio with cold, either, , . . . . .. i irst, by limiting the amount of silver to be issued, or . - . ' .. Second, byreadju3t ing the relative weight of the two coins, either by in creasing the weight of the silver coin or lowering the weight of the cold coin, or equalizing them by increasing the weight of silver and lowering the gold ; or, Third, by the international conferenco between bi-metallic nations now in ses sion, which I sincerely trust may arr'rte at tome practical result. ! ' 1 ? Either .plan, or any other to keep these coins on a pat with each - other. will meet my hearty concurrence, but I am : utterly opposed to any measure that will deprive us of the use of either coin, circulating side, by side, of equal purchasing power, at par with each ether. I assure you. in all frankness. that the stiver question mast be solved in some such way, or we will have to adopt the single standard of silver, like the Chinese and other Asiatic nations. THE REPCBLICAN PARTY THE PARENT OF GREENBACKS.. . It was the Republican party which devised and issued the greenbacks, and which has thus far sustained them and ad vanced them by slow and gradual processes to par with coin. No doubt there has been honest differences, as it is natural: there would be, as to the means by! which the result bas been brought about, but there should be no difference among Republicans as to the desire that the money contrived by their policy and the chosen instrument by which) the forces of the Uniied States were marshaled during . our war should be made and sept equal to coin However,! varying , currents of public opinion or temporary depression of industry may tend to disturb the public judgment it should be the will and the amy ox the great party to which we belong to i make gooi the promises priritcd on the face of their United fiutcs notes, cspctuur when una is demanded not only - by the nation honor, but by the clearest public policy. This money u our own in which, we naturally take pride. We guarded it in its cradl when it "was reviled and derided by our poUlican adversaries at a time when it waa said it would wander like Cain with a mark upon iu brow, dishonored and repudiated. We be lieved in it then and we believe in now. '-j f ;v r it HOW THE 5&ACK IS TO KK E ' r PfXMCfi. When we ieaed it we pnaUed ta redeem it in codn, and every fresh bsae was accompanied by a rren prom is. In we not only, by law, promised to redeem ts, bat provided lor the sraa nal eontraciiov it tie amoont. In ISi we cpndcd the caiitka htl renewed tie froau Jn liJ? v solemnly rictd tUe tpaic fiUi to redeem these ttottt in wa. Xa atejs tswevcr, was tilca U redm ihn p!edt, and, nnlcr tie Jtioss!ij ialica, rccu!alioa ma ritf, vlj3ry scbemea were entered upon, extrava-' gance prevailed, until iu September 1873. the bublo btitst prices, fell, the wild delusions of !ie tioia Vcre disi-y paled, and buiiaesr Iiiei p4 1 fac the inevitabU fcvib fthat alwSvs come irom irreuecmapie-pernioncy men, after fifteen iuoiilhs;dcbate in Congress aud before the people, as a remedy for the evils we were suffering, the resump tion act was passed, me only -object was to make our patter money equal to com. . li wan uot luo . best uwsible uocasuxivbut wa tb 8. only ona.. th at could be agreed -upon. It was veiy general in its provisions, but -did gjve ample power to prepare for and main tain resumption, - it did not ivbolish the greenback. ' On the contrary the greenbacks were expressly to be retain ed to the extent of $o00,000,000i a ' part of the permanent currency iof the country, and this ' was, on Rthe Kist f 6f January, 1S7D to be made s goodj is coin, to be mleemablo in aiB,(arid to be issued and re-issued as the money of the people, the foundation of :r cur rency. .Th is was to be the t fulfillment of ur proinjscs. hTbis waaf oar answer to those wiio said the greenback would never be redeemed; ?fi ; i THF. KUMPriojT'ACT' HAS VINDICATED ' Anil now, fellow-citizens, the resumn lion act, has vindicated itself- We will be prepared when the .i mo , fixed shall arrive to .".excrete'. it. and maintain jit, with entire confidence in lU.happj ef fect in the revival of business and the restoration of confidence. i- Four months before the lime "fixed silver and gold aud paper are almost on par with each -other. ' - , j ,r Your greenbacks will now bOy within one-half, of 1 per cent, as much provi sion, clothing, and other things as the best cold coin ever issued ! front, the mint- Tho laboring. man has a standard of value equal to that of the bondholder; The only promise unfulfilled by the Republican party is almost performed. ' Now, the steps by which, tbe- jresuit has bceu achieved werq simplejTawftfV and benificent, aqd perhaps it is best lor me to stale thenv as briefly as if aim HOW IT WAS VINDICATED ,H.j ' First. Silver" coin was gradualry 'sub stituted for1 fractional currency-. The amount of fractional currency redeemed to the 17th of this month is $25,0S),- 609. : The amount of fractional silver coin issued to the same date is $39,307,- oiso. Here has been no contraction. but an increase of over $14,000,000. i - becond. A irnidual .retirement of United blates notes from $382,000,000 January, 18i0, to fyie.GSI.Ulti now. This reduction was made only as circu latino notes were; issned to national bank:, aud only to the' extent of SO per cent, of-the notes so issued. Tbis was la bo continued I until the amount outstanding was $:;00,000,000, but Con gress, during tho recont iscssion, in vieiw ot the general desire to sufp reduction, siispeuued it, and fixed the amount of United .stales notes at 1316,081,010, the amount : then , ouUtandine. s lThouch this- adds to the di('icullics of executing the rcHuniption law, still all have entire coniideuue m our ability to maintain that amonut in circulation. : s : ; GOU) AWUMULATRI) AT THE RATE Ol; $5,000,000 Vl!Ii MOSTH. ' lliird. I5y the-accumulation of coiu in the Treasury" in view of resumption. me auinoruy io inus accumulate is plainly snven by the rcsHuiptiou act. and, was tho chief means provided .'to secure and maintain . resumption. My predecessors, no doubt believing" that iuis accumuuKioii ougui inoi io .com mence during their tcnnsyhad taken no steps urcr tlic provision of the resunip lion" act. I determined that it would be necessary to accumulate, in additidn to tho stirpulus ireydiHietne' sum if $100,000,000 of gold coin, and that St ourht to.be accumulated at the rate bf $5,00p,000 a nrbnth from the 1st of blt; IbiT, to tho data ot resumption. - )V accumulated readily during the eigat mouths of that yea if at the rate of $0,4 0OO.W0 a month, with gold' constantly declining in price, lis wan fbuiwJ easy to accumulate coin by the sale of of :4V per cent, bonds! and, the: original plan was executed sooner than was ahtici- r patcd by the more rapid salo of bonds, so thaO-on the lUih of this month, bo Treasury of tho United States was sup plied witii ciuy,uii,vui.iii com ana silver coin and bullion. ; . ' AVAU"r.LK COIN R ErtOC KCES). f ;lle then read a! stateraeht of the precise Condition of lha Treasury rela tivoix) specie, from; which it appears that over and above all coin liabilities, the Treasury has $129,485,563.15. be sides $5,093,2 10.3S : fractional silver coin, available for resumption purposes without any charge or demand what ever against it, and supported ' by the power if necessary to sell bonds in aid ot resumption, wiih tins aum and with the powers conferred by law, I am satisfleil that it is easy to maintain re sumption, and such, I believe; is now the judgement of the best business' men of the country, and of those most ex per ie need in haancial matters. WHEN liiKEDEEMACLK PAPER MONEY ' tS JUSTIFIED. Irredeemable paper money is only justified by war carried to the extent of national peril, when the life of the na tion is at stake. It eusrut'lo be re deemable as soon as the public exigent cies will permit, It is not money 4 but the promise to pay money. These are axioms ot political economy, the truth or which all experience has demon strated. We issued this money xnly in the micUt of such a pcnU Our error, if any, has Ikvu that we hare delayed too ionx the Bicswurvs of resumption. 2tow, w hen tbey ire a.!mu&t cotuplete, : and gold and silver and ' paper money are practicably convertible one into the other, when there is the same money lor the boaaaoider and tne noteholder. the rich and poor, when silver can be bad for Moles and g--ld in ample stores awxits the day of rcsaniplion, w Re- pubiieacu kuuu'.4 trot s'bxl the ones uon ol tr-.e repeal ot tbe rcuKpuon act.---' r.r.r: '--. WC ASE KH.Ht AND WE SHOCLD UO U'ith H Kit prHnir ' record, we should noi La 4cli by ih cry for "fiat soay. lYtfi-! wkat u lis Brtnin of ttit-i phi ae 1 i not know but 1 ruaic i' wcsw a stoney that t njt nwra-vuri by any vthcr, iLxi is not n-);v:HAi'!te in ry elLer, tat Las iucflj. kf2 2-;iat a TI,e ia the r; Ui? U t? t;. jff,,t, will ry !y by !t 'ia p";,; pocr. - ' - ' f 4s fcity Vi li , I fi w y I tie eliTtjalA-t r?-:r?;el, m::rtl? convertible into coin, the standard of all value, and the medium of all pay-: ments, I am for. the greenback against tV, a . ,: i:i. ours", rich in varied resources, with a tree people of remarkable intelligence, is not driven Jo resort to any expedients which would affect the public credit or the public debt, or disturb our harmon ious relations in trade with foreign na tions, hat should adopt its money to the mpney of the civilized world, make it as good as any other money, and main tain it standard of value as high .as that of anyT coin ever , issued from the mint. Some of yon who believe in "fiat" money &ay yon desire vie same result, but it is clear that you can only main- taiit this money at par with coin, cither "by, a -careful limitation of its amount or Tt actual redemption in coin when de manded, r It that is what you mean by hat? money then we will not disagree: but it U well known that those who ad vocate "fiat" money want to increase the amount beyond a sum that can be maintained at par with coin, and who seek thus to cheapen money by making it less valuable than coin. - .t WHOlDESIRE CHEAT MQXEY. ; ; I can Imagine how a man deeply in debt and hoping" to escape bankruptcy may desire-to cheapen-the money in which liis debt is to be paid : but why should si laborins man whose daily toil is measured by the money he receives desires td cheapen that money ? Why should a Curmer Who sells his produc tions ft? 'Money desire to lessen its purchasings pOwer t ! Why should si. pftident thrifty j indusiruous man en -j gageol In toy occnpatioH, who hopes by his thrift ana industry to accumulate for himselfa' competence, desire to have his Iabe mcasnred by a money of un stable talue? It is the interest of every- One engaged in industrious employments Wheis "not a speculator or broker, to havea fixed standard of value. If any of Yon who labor are farmers, mechan ics, or belong to any of the industrial Classes of Hie. and - have hope irom a depriciated money, you will be greatly enisled J ? i EVILS dF IRREDEEMABLE MONEY HERE -:l ; " to fore. ': ' All the creat men of our countryJ pur revolutionary fathers and their ue scendents in the war of 1812, and the statesmen of the days of General Jack son deeply felt the evils of lrredecma-i ble. paper money, and expenenco led them to the conviction that gold and silver coin was the best for 1 all classes and for all industries. ; - v In these general views in favor of re sumption adopted bylhe 'Republican' party we have had the sympathy and concurrence of a certain portion of iho uemocrauc parly, wno, : inougii ihey alwaj-s by instinct and' habit voted! against every measure ol the liepubli can party irom the beginning' of the; war to this time, even in the darkest hour of the war, always professsed to be in lavor and talked in lavor ot cood money, redeemable in coin. This class. of Democrats though 4hcy oposol the resumption act, did it because they do claredit to be a hindrance loresumptionj and denounced us because wo did not resume sooner. This was the mreilion of the last National Democratic Con vention. SENATOR THURMAN IS ACCoRU WITH , KEl'UBLK'AN lOHTV. . Senator Thurman, my: colleague fot many vears in the Senate, was ono of this class of Democrats," and, although our financial measures did not exactly; please him, and ho generally voletl against them, yet he freely said, like Mr. Uayard and others, ho desired re sumption and stood by the old Jackson Democracy in . favor of hard money The exigencies of party tactics have led him recently loinakc a speech to which, with entire respect for him.il desire briefly to reply. fco far as he seeks to snow nis consistency and concurrence wilh his fellow Democrats, it is a do mestic matter, and I will not interfere ; but some of the Ksitiou3 taken by him 1 must contest, tie says : ; i I think I do them no injhstice when I say that the leaders of the Republican party are in favor of directly thcopK- siw course mat is lo say, tucy would retire all the greenbacks in order that their places might be filled with natiou- al bank notes. ; XHE REPUBLICAN PARTY tTlLL IS FA- ,t " , VOR OF GREENBACKS . Senator Thurman is greatly inistakeu in this iosilion. As I have already shown the Republican party w not in favor of retiring the greenback in order that their places might be filled with national bank notes. ; -r ' ? i ; No doubt some Republican; lik somo Democrats, are in favor of the United States withdrawing from- the business of issuing iaper money ; but ue licpuuucan. party . has never taken such i a position, : and now distinctly maintains the right and duty of the Uovernment to seep in circulation snch an amount of Untied States notes a can, be teadily maintained at par will coin. ' - In every law authorizing these notes their is a limit fixed to their amount. isunnr ue war me cuaranice was made, and never bas been violated, that the amount shoald not exceed $100,000,- uw, and no authority bas ever been conferred upon any officer of the Gov ernment to reduce the amount below $300,000,000 j bat now the minimum limit i hxed, as I have already atated at m,wii,uiu. THE rOmOS OF THE ! tEPfELlCAX v PARTY DEFINED. The position of the Republican party is in lavor ot greenbacks restored to their normal condition of rarer monev. equal to coin and redeemable in coin uu ar vjcinu4 v uie noiaer, wutie I ne noaiikm or the uemocralic party, as stated brJodre Thuruiao. U io faror r of the issue aad maintenance in circa- lation of WK.OOO OiW ul United Ftate notes without any provbion whatever lor their redcarpuon or their ctn version into coin. This Ueue it distinctly made, and, for one, I dUUactly accept iu wn i-re tspcr snocey reeecale iacoia, ad the largrtt amonnt that can be maintained at par with coi while Ihs favors an amount of rarer i aed directly by the Govrrnment, at convtrubse tata coin, with i proti lion ir lis rearm roan, ana u n acicat t!;;t ro ore hx rlsimol ra t . m m - maintained at par t:h qg. He tart it it j-3t as eay to suisuia f"J,CO.e00 grwalacis at rr with cuia as it is u euuetsia t ?Ki,OtrJ irrrrarls aai t.C, nstksaal KNC fll rAYAtLCIS l. 13 Tt r,vf ' NOT IS. CXltX.' til It t.rgx'j u iuu tiit tie lizU 1 notes ire pyabl not in coiu, and .1 .-3 .o.and o W re ik and states, aem for ot these a1 att ki t 'tit deem 1 by ' se I expert, ai ntf cio ct n re? f vet suchfsilenl I IT1 wT no notes aidsy main 1fg,Sv.dJnited States notes at par with coin nstead of obstructing it. .J he whole burden now resting upon the Government is to maintain resump tion i ipop tlHv aineuntpf UnitexkSf notes, td lhfsWiifMdly crfn c Uofle hy a qui Kmmi frani SQ lm HI pw cent, which we lave on hand, while if the whole amoHihl'of circulation was in' United Btales notes nsinrecre that could be'reasonably seen red and ntain- tained would bo sufhcient font iho pur pose of redemption. ' BANK NO"l'E3 NOT tiOVEUNMENT NOTES The, bank nous arc net, in any sense 1 the nofcsi 4or -$ l8vcrfaihcat.aTlwy 1 are i-ne "noies'TJi' pnvaie-'owporsuan am ply seed revU ! t dbdacme ,$lq i Uberq, mainUined byUicur, ofyM ruey.XtU to Liccm nieni wie sucuriiy can at acCi ahblfelili!eVeni?tioi?. fTksa expedient Of lovint liitortion1 of "the ci rculaljou t be iUd by prlvdtwcdCfd porauonajsnablp wSjftfniaiUjp Wpf rr culatiou nearly , twice asicpaper mone;V"iw coTild be maintained par in- con, if issed WrccVy W ChelMyerjvi nent.jKi tMlfMlt m otlaievi09 i . iWHY TULRttAKV; lLA K'ftl VaOttSlJ 9 llis plart'wouUr d?rfcctyN61a1eHii lmvi.-iiis, IiIk kkl-. .tit4 iawil- tmtle which boUi j lio itiuJwiH and notes are is-siitnl , and which limit -ex- nressly tli 'atnntiiA. iif'Unilcd ytatk:? notes to Yi'MisiwK'.WHF.Tliia would be a V iol al" ,of U i e fm W ic fiti fc! vaadiwnnld impair iit onin thni rublk credit. ,aftd do inconceivabTv,.inore harm than lit could give profit to (lie GbrerniuenLt :J1 in : l.iJ: ;i ' ...ft . ..1 t) r,.'l k hk-t scneme onus encounters uirecx- ly the decision at! the-Sapreine: ;Oourt of Hue . b'uid tjAUlys,, tij ,wwUd?V, thjiibt he held unconstiUilioiial. becatuje' ii, jroyiucs ior a very largo increase pi found, iK"acq, wbero- il suehiigenc as. is contcMi plated .Itf the CtuwlaUitioif or dectjsioii.of .ilio .uprwrnpirt exists .' JUOVHJ uux.ll ..II JOUV, It would ht bhcrilfiv6 1ftrtt6f cxu tence the-nvluief Hvstcmrf of i national alone by which. Slate ,bank.i have been. preventea irom lssuin clrcuialiBS iiotert.' The only rraneiii.e'liioiHall6na banks reOei'vo froni-tiie liorermaeii which iiitluct'n ilium ,lmaiutain ihrar" corporate oxisieuce i Uie, right., under 1 1 iiiii-.-i ii.mu iijr law, w iniii; vircuiatiug not: ; "faki-.tln;fhm ttieiS'-aiid'fhey would at moeiri5ilse,lwith(MiteaTopUop to Ui uau.yiuil.Ljuikktuid. would bow ganiH .l again;as bs(,.r arilild State baijka,- with such powers as ittiy, Hlato iuiirhtfv ihc'ni.'"1 i 1 Nearly a genetati'iri liatamid'sbicd' lUe iucouruu3yUtmol 1pt ntostfy which existnl bclorvtliu.,war Wfl?i?.rl away by the uatiotuu banking act. It is safo to siy that'ithtf,?ininryfidiie to I the jHHiple b t the" United t$Ut$9 tjjrlh T fail ii i e ol' titese a nk byHlie tiicrtai 4 1 value V lh iv-t paiero wmVyobjp'i ItS j 1 tin i tel :n-U 1 oi rcutatiod; aAh by sub-1 wMiutt eiiier.ietiirg'j!i was kuniialy greater Uia-n; tho-interest of tuc-totira national eauk' rcul'ation of Ihctlttiied bank i .M coirp6uXTJiirrriV:SBA1tlr, .. MiBhrwpjiurxl? It is iwy to? iHwe baw kwigcc jora -i lious.il nslcad ui; iinviiipyiiticol puwcf they j a re : Uietjiwaket iAeoihef!4Mf a cbiuniiinity, say what yUU wiliief iJitm their ubiiutm Jor Stnpp, ImuM a'M one of Wio vi:st ainl'piOA; beneeial acts of tho .viursd ioifiWrairaV since iho couiMicuviuoii; il.tllo.war,-,TJcaf contiiiuediejtf(dHMHHl0iWtefad1 upon !.liiei .aUUAtjjii wubyul obt trouble tq lite UaikWirtUH-ya nHiib- taiu their turt;ultiHa,'iMl wittt United SMlcijiMites,, oin,'. If jlhey fail . 1 b, t Uyi "Sh4 M ki tAfckpU' If tlity ?lo it thuy vusLu oumAhiU- cd. vThcyiro .UHcikj liwutiai 0gsfit& scat lerotl through tlje Jditatcs fri; early millions more iuan Juqc i barmaejea limales'we wilt av j,ty,.y'e 3ebpt 'eTctatK lheir notes ae scydrcJ teyorid bera venture, tlie arc prptk from codt terfeitinsr far more Vnccessmllv than any former systeu jCtid, ftotliqr credit be ilj snKF, ityt bnoWoaliartlos IWhierevcr Jougq j6 Jilay.icdrr rbeni with safety, M Uhirtt xauiinailoti as ta wncrc or wncu juv ,wctc iseaM. Z TEX BANK 1E1NT1 AURf E. ' i . my orgaumuhi iniuiileiy -snore I hi wcrtu r n kr nmb uutUon; th an - Hk? mary puwer. JJy uwa iexerioa in' uiiicc eaauiea bioi Iu ay abate af fvu convene ion uaak - fwrMdctj yon ill have tea diilwent pin, w halt iarty orgauiaalion brigi evc. ?J Uikra : Tbnf man and ( Jncrai K xinx 0 the axaie platform t fri-hg $ 4nrw vf 2s or ia jt true a rt5Ul by Jad' i narman uiai ue ktilal in of Con grejw lavoml the nionej" icereVdaring M lrm m:c sway ot ium tiepuUU can party, for-tbix irrulatkM wn ed by iove.of. national nn it y and? na- iwum yw jwa nauotui cat tence. It teudcrcd lo make .our , natkm tUsng at home and respected abroad, spd in no t ingii (jucstwn Uas a :fUxmli .what is cauea. ue nionty tcicmt. THE TIT.1. IS1 E liETWEEJi ItHB TWO sue v t iflic bfitfra ta twa irrcat jtlk has been, ,vm the fait f toe itoui.c, a ticure. f nuuauia i ne tuutj vi iae lax anl ab-4ii!i sUrcry, to ctnr riial f PotiUr .-v! civil rtgtft 14 all nt, f, isaiatrln t& atKMutl kHr, wi -Itac; Cbe 3 daUul iali-f W.Ui milIm. mhi'J thethewy asd py efthc LVocraU pany m ir U.:U- ue Nj:4 S1I f-averatsefc t ki'JfdiaaUi it t a tint ptt f k if saie-v la pr eacrrv alae ry, ta kate i3i ;ryut ptvlrcti al j t, jn .:ftaLe Uti rmtw rtrri al f l I- a ts isjar tie l3 tsill c Li'i.rskli,.;.i,j it I il mm-pttva ri-i-r.e W-l it! t t t Vf r'titij fcf f r fv.iiiiiisiiis. uie prvuuci oi uiuusiry ahdln,lwc:ilia:',cawUC7Wta lat ycajf ,.lio. (fovcriicirKiWCihe Uui ted flutes irmMT tu f raxesr, and formula and local taeOipf.fJ?: or a ttai;of:$ia.n7.Siyi' uViVftar td the Raited tTw. W tatei if the )tiohaf banfc?Voabo!Tcd; BANKS ESJOY NO SC1AX. TSlVlLEOrB. This is again nnt te in point of fact and il ll J"-M Tnment. - The nc- tionalVit: ci ula on is ne t a special privilege,,' tf sof t to every as jock: tionot fiv ;c ?ns 'jat.may be r.rgan iited in al . na. of Uie United Statev. The same privi.e might be granttd to every individual-citizen oi me United States, but experience Fhoaa that corporation is more wisely admin- dhen it is composed or a num of persons, not less than five, than lahell it Is wuuoMcfr lJymaingle - per- son. aud coriHirato authority is cssen tiat ta pr-Hjrye.ils existence in the case bf ihe death of a, partner, ;'... TtlEEKOX ;tfHY BOND3 ARK E- .WfW.O ' MAHDED ;' ; al security' 1s? because they aro the best curjty. ot a personal .security might bo & highesV and , best, this is demand jW,'p6t Cor the benefit of tho Govern ment,;tut for wo note holder, for whom the,' Government is a mere trustee. jAYhett ' the government pays' to the $ecijf ity it Only pays whs t is justly due kfrd what it would have : to pay at all ynhi to anybody , holding the bonds they are' redeemed, $ ii,uTi wi&t (uuj uuiiuaa uiiumij out of tlin ivnekets of thn tenn1 ia hard fecWccive. Ko, one borrows the notes yftno bank unless itsi3 for his interest to do so" ',6. ability of unless it is for his iutcA'sVito' do eo. !The ability of ih bank to jiend is a con venience to the borrow jis,' welt,' as, the lender. , The Government cannot engage in this bus- 3 ft G REKN BACK.S 1 WERE tUU31TrUTt.l . : He says that the Government ought ioti.-Mjie-.lbjBse uolcs Tbe: auswtr- is, thaMt'lbe Government i-ssucs them at par with coiu, or else, the people must puffer from the evils of an irredeemable currency,; ,The cost of this redemption by thebanka is already, so great, before Specie i payments have -actually come. J.Uat hla nut called, special privilcgo is k?ttiog tobe Aj specikl burden, and mojee banks are surrendering Incircif-PHlaUoiii- vt i ,,..1, ;''', I udgaTUttrmau computes how imirh the AJ oiled States would save, if it in sued 22,000,000 more ot greenbacks and redeemed thalamout of bonds. 1 dniiot sUmto- examine thw computa 4iupPjhut I only wpndcrwhy he stopinnl at , $,000,000. Wby not save the cni vo inUuest of the public debt by ta ming irrc cnUitcks for, , the whole of it ? V Why nt icpudialo jt at once ? That ikWVUio, acMr(UUg ,19 jus ctimpuiauuu, bayalbe wuuro. interest, ol the put;ic Mi(orJ3,000,0a with 110 other lw iha Uieilos(ttf national, hoiioi. ; ,,y 71 WEI.r f l;rESTION3 THAT Til V RM A N , MIlVt,! ANSWER. itrWhatiisneaiice baa;; lie that WO.oOO will salit"y Aho , itMtro Mlaii'--l Uhte l)f rrpudiation ? .' How will ' be dajaHvUt i:VXW)W: Will he cbitevlne right to ay the bond at par willtitttesi aoea be deny the mora! Land legal obligation by which they are to bepaid in eoni7nloea he proNMe to reiudiate the act of 1 So'J f Tho im ntcdiaUf t-H'ect of the comnienceoient of such an issue t would depreciate tho notea lower and; lowrf, would widen more and moro the gap betwiTn the notes and coin,: would revive again lite distinction between the bondholder and noteholder -r-cold - for - tho , bondholder and -depriciated paper, money for the people. t It would at,; once Plop d the fundi ug operations under which we save on third o. the interest of the national xlebfc. ,r Jo man would buy citbt r a 1 or a 3 or a 10 per cent, boitd in tbe face pi 1 After n further review of the pMih of .Senator Thurman on the financial question, ia-4Miieiv-ue laiiary 01 an uu limited ixsue is fully exposed, be tnik urn the , charge of Iraud made by Mr. .Thurman. and said:., i X r. 1 and JbelicyeVudj;e Thurman will live to regret I hat ho made iL lie was a member of the Ktcctoral Gommiation which passed ujoa the returns of the votea wl electors, for I resiUeiiL lie knows, that . pvery electoral . vole of evcry.Hlale cast . for Rrciudcnt llaym rccltcd by, him without dixpule, with' Out any pretention of fraud or error ex cept theyotcsof Oregon, Florida, and iOVENOR- TtLDKJI'a AUKXTt IS ot - iON. ifOnpovChcro was an attempt by acknowledged afrcnts 01 Governor Til CO to cheati tne the word in iu woraCmeanWg the Republicans oat of that vote' d to bribe an elector and It Jailed;; In ' FlodJa there bad been great irregularilica and frau U commuted by tne Democrats. , which were met to some cxleul by. frauds on t Impart of the licpublican ofScera: bat Ih'e evidence before the retarnin; olli ccrs, na well as that taken in the contest for the electiott of a member of She llonae of Iprcsentative, ahowe that a umjority of tbe totea in Florida were fairly; cal Ar the ltajes electors. CtMOCaATIC CRIMINAL CO Pl At Y 1 1? "'K"l4VKtaXA, "-! A to IoaUiana, I bad better mean of information than JuJe Thurman, and 1 wiy to you that tbe criminal con spiracy by the. Democratic party of that Mate to. control the election cf 1STC an as to cist the Tote of that f late lit Gov.TiUea Las never bent fully toll.: ill, cxlcndeJ to , more th?3 tea riihe or cwmijet, ac4 tiU ia ah? lata terror t Republican parikhea that had alcaya aince the war rirm ted t, al ctrrcf uur aod LU&k, MAialy tstcirent b!rk bJc rs 01 their face. It wlrdt whlppe'J, aad mimed 4irr, lrore haairtd t4 ti ywtr at tiU.aat rd tiif-i Utrvt asaJlj Uim i r,u:Aat and opciU:io fxfle. wh4 ht 1 l.t tmt lal t't&tt a4 a iUt t a! r'iit 14 tt te tita tbrir prr wsm U r tz U were oay tej tie L!,.! 1 1 1 In war. gr &t i . 1( M l4A3S.a l t0 . rH!et t, i;a u 1 j i t' . 1 ern rai ! rU list II t t f.'. .i- i t t'.rre aa c;"a, l 1 J t" - t at ! 1. r'f U;i v- . f i . il a sl;- f cf etrT i-puijcaa mKKilr. It ittctstded ia its rlan !cr rrs of SlcratWass. while PRESIDENT HATE-j LACORISO TO DE stroy SECnOSA'USM. Tlie policy of rresideut llaycs ht earnest desire and hope, js t ,tlt'.v sectionalism, to invite by kin -IhVm aui forbearance a like kiudnras an l rr. bcarance to the licpublicans of iie Smth. If this cffrt iVils, lh .So-un will bo a slutnberiug volcauoj which some day will break forth in retail, tion and crime. For free wn tutinr ,cinstitutional,rights caouoVbe chain . ed by violence. lutclligence an l or ' gaukalion will sdm enable them -1. assert their right? or deter llse r ik- of such violence. ; - - , , The llepublican party U purely A national party. lis instincts are nn. tional. its policy is national. In i llepublican folate could anylliitig ht opposition to Ireedom ol speecu. Srra. .." 1 1. . r - i:. r . tolerated, nor would any one for a mi inent bo allowed to be deterred fr.m voting as be pleased, while in eoiuv ir the lcmocratie tstatC't in the. Smi't such a thing aa freo speech, and frca press, and reasonable toleration of opin ion is scarceiyXrecogniaeiL The domi. nant press would dcuounce as a crime what wa, here in the North regard n the right of every citizen to s,ak al vote as he chooaca.. : ;? .-. A CARICATURE br TRUritjAKO JUi- ; ''; ':: ' H ; tick. ::' ' y ;r; ' -1 11 the face of these facts the Jul low. ing statement by Jndgo Thurman scemi to me the caricature ul Irutlw and justice:- It is not enough that llio Sxith lua frankly and manfully accepted lie re sults of the war ; that, waiving all tpics tions an l-i the nnwlo of their alopiin ' no voice is raised against tlie biihlin-' force of the constitutional ame u Imrnl " that cvtry law passed by a llalkal Congress, however .doubtful iU ctHwli- . tutionalily or manifest its iujusttcean'1 imiolicy, is nevorthelcs oWycd. He oiute I out therein the looi' cralic parly had not frankly, and nun fully accepted the results of th wr, 1 which was precisely what the 1UiW licans complain of, and tliat theameml nirnls wcro not enforced. : Uf.sINr.SS PKPKKvoto.W He showtnl by the t ullet lali.iit that the business depression was not, ai . intimated by Judge Thurman, eoufittrd to this country, jjut prevatlol every where, and allowed by the mcrca.'! domestic production ol the firm and workshop, .the increased export.i and diminbhol imports tltp beginning of a better state of affairs. f Keferridg to the 1 per cenU ibi.n, h' : aaid t,Tho most MatifacloryfJ ttnro of this I loan is that illisbcing la id in small sums by great iimhi'hth .of onr fellow citieiw, and J is tiilributvd ' throughout all Iho fSUtci in the I'ni'Mi, I luring thafirAt twcnly day of the present uiouth our sales of I ittr cvm. IwiiKli ainfmitcd to f'yHHM nt, now have the confident aa-iurance Thut during this year they will cscec4,,' 00O,iNirand will pay oil all Iheji 'Mi percent boud-i of tho issue of l. llielaiMir (pieslion came in rorr sideralioit at conii-lcrblo length, n allccting not only our own country, but IhoMo of ljiiroe. In conclusion hi?'" paid,: - - -'; ''' ' ; r- lit the general management 'f y '! a flairs thei lUpuMic.utparty has dour all that it could do to develop Uie in tional resources "and iiiainlaiii lh m liouat honor, to protect all men in j ul' iig,hls, to Kccure to all men rtjiial pi mI Iccfl and an ruat chatico lit life, awl that it is ready to adopt any proper comtitulioual nuida : of relieving dis.'" Ircss and attvaiicing the iulcreslsolaliy or(ioii vf the eoplcj I can nafvly p K:at to all of you who havo aharcd in the honors ahdjabor of this party H still htand by in Uag,;iKtw that- lli dilllculties of llic'reccutnsst are pa- ing away, with tho full ine that our country, always advancjitg and pn porous Muce liberty was first pnH iaiw. cl by our Ilcvoluttoiiaiy ftlkers, -Is MH donti ncl io advance under the ruid u of the lUpublican parlv I hlsliet liontir and greater prosperity. Mr. rjherman, durins his itc'i, r.-d a letter from a i-orrtsjtilriil cf a fit -ciuitali paper, In which the futljin ouiwlions were a"kel about 'the tr"le dollar: First, What is the mUcr '0i the trado dollar? 1 csK-ct "jtu u Mf it is Bi legal tender, nor U il for ulnrV ly cenla. rxcond, llie Gorrniinenl re ceived dollor for dollar alien ! pH tbe trade dollar out. 'fhtrd, Iltd Uc ftcrson on receiving Ibe" trade dwlUi from tne Gorcrnmrnt th aa with th" undcMandiog that lie had to Ulc it tnjLltina to. spend It, ; If anyboily ij- blame, who. isil? Sir. Micnnan iil that the trade dollar wat nol ahat tender, but is worth ninety exult bullion.' The nUndard dollar it a lrl teixlcr and, therefore, worth par; Thai is the difference, v.'.- To the ccnid ueUort he anrrvl tliat tbe tlovernm did t i-itr dollar for dollar fur tbt ir.e diUr, but received one and tmc half crwi coining calt doltar fur flraU mV owners; tUUt was all It wa-1b- w is er that ground ibe Rrld. f r a tmtti pn ccnlac. i .. .- , ;...' . To the third" icti.n he irj.fud lhf the bullion owner dwl receive the ti dollar rr.cpx.ju:'y Ui 0aaa a de vice made lcte Llw a mtit M bullion, and, ti.n tfte ltl f wa per r ctlrd. by him a a tm? i heating our owa pp!, I -11 1 "i QW IMl Mi f.r win 11 1 rf. as 5 v '.-( - ... '.'-. r t. lt wrm t UK'Wom ll- tMf wy KlTiV IIIVC3 0YSTP aU tuWc H- wW t la4w A 'ttmM KJS mm mlpmmmm, f 1 c i. . 1 IS, i Vanu.' w:t:iktw; a tltX;;raf try. fi v.r.tt,
The Wilmington Post (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 1, 1878, edition 1
2
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