Chicago Daily Tribune Newspaper, August 27, 1878, Page 2

THE © TUESDAY, AUGUST 29 =2 IMICAGO TRIBUNTI , 1878 at par in cotn1f fsaned directly by the Government, WAY TRCAMAN'S PLAN IS WRONO. Tis plan wouid direcily violate the provisions of the Loan laws, nnder which both United Siates bonds and notes nre fs«ied, and. which limit ex- eanly the amonnt of U'nited States noten to $100, - 0,000 'This wontd be a violation of the panlic faith, and wonld impair at once the_pablic credit, ant do inconceivanly mare harm than It coutd give proft to the Government. This scheme of his enconnters direetly the des cirton of the Sapréme Conrt of the United States, and would, ne doubt, be held unconstitutional e« cause It provides far A very large increase of Uniied Staten nated n & timo of nrofonnd peace, where 1o mich exigency as is contemplated by the Custn tlon or déclsion of (o Supremo Court exists to Justify such an issue, TUR INGVITADLE EFFECTI OF THURMAN'S 1.ATIOR QUESTION. And now, fella:v.citizens, in concluslan, let mo invito yanr attention briefly to the aetiation of the Iahor aneation, nob only in fhis cauntzy, bat iy other countricd whor production bas exceciod consnmotion And throlsn wat of employment many induatrions lavornine men, and paralyzed im- portant branehes of industey, eanecinlly of the fron nnd coal tndustries, I know that in some places Jabor ie depresred, (hat wages ara Jow, that many n willing hand finde It hard 20 get work, and some. ttmes honery mea, women. and emidren want food and clothing. and sharie be to him tvho docs not sympathize with such snftering and reltess it Af possible, . No wonder that honeet )ibor arowe roured at the inequahitics of life, and somctimes hiatens to the cry of the demagogue thatl humn laws have caused thia distress, and thatif he was in ofice he couid furnish redress, THB 8AMD LABOR DISTAESS TANOUGROUT BCTROPR. The pame diatress in o far greater degree exists 0 Great fintatn. France, Gesmany, andail cvii 1zed_tations, whatever miay be their forms of cur- rency or standards af value Modern inventions which anpply wonderfal machinery which con- sumes only water AL coal, &2 o snbititute for the skilled mechanic, have greativ dimintsned tha occupation of labor. Fewer labarers aro required for the same work. The oniv remedy wonld scem fu be to pursue new industrics and seek Dew mar- kets to be supplicd Qur owa country Ia biessed conntrs, and of those most experienced In financial matters, 1do not think It necossary to epter into morc detall aa to the plan af resamption or the ability to maintala resamption, or as to (he argnments for oF the measnres adonted in ald of resnmption. nthject was thoronghly dincnased lu Con- and tny own views (ufly exptained to the Commilieen OF Congrean (n intervicire, publisied by the Senate and Houee last Winter, and access- {ble mo duubl ta you. EVERY ATEP HAS NEEN OFEN AND FRARR, 18 18 suffielent to ray that since the paenage of the [esnmption act every promise and expectation of the friends uf thisact have been justified by eventa, ana every prophecy of ils unyonente has been fataified. Everyatep la the process f re. sumption has heen open, public, and frank, and benehcial in & bosiness senre, All (he evils which yon bave auflered are the direct fesnit of the (nda. tton of paper monvy and the pamc which preceded the Keaumption sct. The whole process of ra- armution hat sabeiantially been carried on since the st of May, 1877 and has been aitended with eeviving buuineas and prosperity, ‘The failnres that have occurred during this time Lave been tho direct sesuft of engagoments sud contracts made before that date. SIALL B GO FORWARD OR MECEDE! And now, fellow-titizens, the zeal auestion i, #hall we o forward and complete thia proce anall wa zo back again (o the period of ieredeem- able money, wilh 118 mevitabie resniung conses old or even the paper dollar, snd, I¢ leened with. ont limit, the silver dollar will snrely depreciats below the gald dollar, and wiil become the single ll,-‘\mllm of valoe, ‘'hin is 83 certain a8 the march el time. repndiation, = Aatd, akthe notes depreclate it be comes more diMcull to Provide eoim for the pny- mentof the interest, o would he repndiate ihe obligation (0 pay the interrst in cotn? ile raya ha Jain favog of fecelyms greeniaess for eustom dutieh, \Will he,y thyn, buy cain® ' It a0 Tua policy will Already hXus advanced the value of coin. ‘These are questionh tht ro Astute 3 reasoncr As Juige Thurman outllt Giirly to Anewer iefora he Trersuaden the penn\:'lfl embnek in hin acheme, WIAT JUDOR THURMAN PROPOAES, Tl proposes to iskue more notes withont any provision (or their‘payment, when ons tevenned are ample 10 meet onr expenditure. In.a time of profosnd peace, whert . thees in no ‘mative of pateiotiam of duty, or: safety to impel such a course. and_thin merely to gave the intereat of 4 ver ceat on §372.000,000. Bat thus very Act, If ndonted, wowld present our eclling & tnousind williyn of 4 per cent bonds with which (o bay an cqual amount of 6 per cent honds, and in thia worlc an annual losa to the Uovernment of $20. 000,000, DF ¥$,000,000 & yvar tore than the entire pre. tended Raving by hin preposed policy. Auatn. what maral rigbl nav the Government of s 1ta citizens (0 1ake HA ard of value merely for purpose of saving thd Interest on thoss honds? n A time of war we tay concede thiz, in a time of peace there 1¢ na legal o maral foandation for fuch & claim nnleas the holes aro maintained at par and redeoted at paci Je not the Untred States Rble L0 pay the tntegest of Ue patea? GOLD INDISTRNSATLE. Mut cold alen ¢ an tndlspensable elandsrd of wAlue, It measures ail the larger traneactione of usiness life. 1t 14 used as snch by most Chris- +ian and eivilized natlons of the world, and jtx de- monetiration wonld be A8 great an injury as the demonctization of silver. Norw, Iellnw-citizens, 1 am {n favor of so adjust. 1ng thia matter that both metals will cirentate at piar with cacl other; that yonu will have gold esgles And silver doliars, and A dolise of efther will purs chiase precisely the same Commoditien. NOW ROTH METALS WiLl, CIRCOLATE AT TAR. This can ba dane, white the market value of sil~ ver i lower than ita lecal tatio with pold, either, Zirst—Ly limiting the amount of silver to be saed, or, Second—By readjusting the relativn weight of the o coina, either by Incrcaning the weight of the rilver coln. or lowering the weight of the gold coin, or cqualtzing them by increasing the weight of sils ver nnd lowering the kold, or, Tlard—1iy the International Conference hetween bl-metailic nations now in ecasinn, which I sln- cerely trist may arrive at some practical reanit. Either ninn or any other 10 keep there coing on & bar with each othee Wil mcet ‘my heatty concute fence, but | am uttorl TOLIOY, It wonld at anca deive out of existence the wholo syatern of National Banke, which have been tha means alone by «hich State banka have been prevented from issning circulating notes, The onty_franchire fho Natlonal lianka recevs from the tlovernment which tnduces them to maintain Aheir corporale exisience in the ight, under Hmia Bxed by law, to Isrue circulating notes. Take this from them and they would at onco cease, withous »xceptivg, 10 be Natlonsl Banke, sod would e o' agaln, 08 before the War, inta State ! powers a8 any State might zive evitablo effect of this policy would o 5 T e e O e e ahes | Quenca of 'cxpaneiog, tnfiation, and pauict As o again taa fystom of "Stato banke | TNEHE UAS BEEN UNNTRAGTION OF THE CUR- | Mincheap landsinviting lator, and, the sneecy ot par with each othee, 1 a you In all frank- | 38 Aok O e Wha expertence, hot anly of anF Y 3 3 X ductione heretofore made abrotd, and 10 sending tering a8 any State might preaceibe, and thns all the evila of Stato bank money, which the people cxperiented before the War, ‘will recar ugsin. Nearly a genoration bias passed elnco the incon- graous Aystem of paper moncy which exiatsd be- forc the War was swept away by the National- Bankingact. 1t in salo 1o eay inat tha injuey dono 10 the people of the Unlted Stated by the fatlure of these banks, by the uncertaln valne of theie paper money, by its limited local etrculatio cenafal counterfeltinie wi ¥ creater than the interest af the entire National-Blank cireul: tion, and by anccessful counterfeiting was annuaily eafer thitn the {ntereat of tie entire Natlonal- Jank circulation of the Umited States. BANKING CORPORATIONS THE WRARELST MEM- RERS OF A COMMUNITY. 1t ts easy to ""F"'“ banking corporations. Ine sicad of having political power, they aro the weak - est meinbera of & community, Say what sou wiil of them, thelr substitulion for Stato banks wns v of tho wisist and most bencficlal acta of the Ge eral Government sjuce the commenceinent of the of the enrrency, No one disputes that there nas been contraction of tae caecency, The amount of United States notes.reficed stnce the p the Resumption act he states i, 845, 33 84, Lut thero wae'lashicd to Nationnl Banks in place of this $14, IWL 210 of cirealating nates, 1t 18 trug that National-Bank noiea have been re- tired, but this haa Ueen done, nnt under the fle- sumption_act, but by tlle volintary acticn of the banks. They are free to issuo and retiro their Dotes and they hiave dnne no. 1t tho special privijege anout which he bas dis- cussed so much wa® a0 "valnabls to them. they would hare Increared thetr lesnca af hank notes, but instead of that the hurdens imposcd upon this Jeivile and the want of proftable use of money iave ininced the banks té reduce dhelr circulation w a much greater amount than [4 has heen in- cressed, a0 that the effoct haa heend lacee de- creare of the currency'of the conntrs, but this hag not been caused by tie Resumption aet. Now, those are the objecitons stated to the National Banks by Jnege ‘Thurman, snd my nees that the silver qnestion mutt he solved Insome ruch way, or we will have to adopt the incle staudacd of sllver 1ike the Ctincsto and other Asiate 1C IAUGNT. And now, fellow-citizenn, I come to the most froporiant gueation of thin canvass, TiR MOST INPORTANT QUESTION OF THE CAN- ¥ our home productions Lo fureign countries. All thatthe tiovarnment can do within {is limited puswers 8 ought L0 0o tu encourage, pratect, and foster labor And L can eay of our laws and (nstitations that thoy are far miore fayorable to the lavoring ni than those of any other country, and any idea, of feform, or measire that ie proposed to relieys and protect labor, findy i the Hepubliean party its earneat and eympathetic advocate, ‘That party has dane more for the vrotection and development of fahor than any other. Our Canstitdtion and iawe guarantee to évery man eqoal civil and politieal righta. Property 1» morc equally distrihuied tnan eleewhere except in France, and, excindjng the negroes, who but recently acquired the right to vote, a greater proportion of oiir citizens are prop- erty-hoiders. More than two-thirds of ear volers, with this excephion. are property-nolders, and the reat want to be, hope 1o be, and can be. This country af oura i1» nnt tho permanent field for trampe and Communista, Our laws for (he dis- triontion of property tend directly and rapldly to own peoplo, but uf all_nations who have, at_any period, maintained mized etdndards of paoce money. WHEN IRREDEEMABLE PAPRE MONEY I3 JUSTI ZIBD. Trredeemable paper oncy faonly jnstified by war carried to the extent of national peril, when the life of the nailon 18 alstake. it onght o he reitecmable as roon as the wublie exigencrea will permit. [t1s not money, but Lo prom: money. ‘These afe axioms of political the truth of whicn all expericnce has detnonatrats ed. Woineued this moncy ouly in tne midas of auch A peril. Onr error, 31 any, has been thal wo have delaved (0o long the moantirea of, resuniption. Now, when they are almost complete, ani pold, and siiver. and paper moncy aro peacticatly con vertible one inta the other, when thero I the samo money for the bondholder and the noteholder. tho rich and poor, when silver can be had for noles and gold in ampie stores awaits the day of resu tion, we Republicans shoild not debata the qu 5\ now hapnily bronght to very mear par with com. W you inatst upon keeping it at par, ur will yon, Dy repealing the Terumption ‘act, rerace the sieps airendy taken and embark again upon the eca of irredeemable paper currenry? Sknil our paper money hereafter {wmflumlhln 1 coln upon the demand of the holdef anrd bo maintained at par with coin, of ahail 1L b6 schat Ite friciulA caldla *fat ' monoy, irre- deemable [n coln, depending upon the daily trade- muarks of bankers and brokers for its valge and npon the chanzine majoritles fn Congrees for its agount and quahly s This County of Lucas bn Tepuolican caunty. Our paper carrenc; of Abraham i War, Personally I have but littla Intercst in or | answertothym. It comis back again to this: o) 7 atee, Prope: T s S gl tlouof tno repeal of ths Reeumption act, =~ | Yeeling. ‘for. Nutional Danke. It 1or the | Shall we have n tue United Stetes o currency re. | [ERNE RS AL b G tions and sacrifices for the cause of the Unlon was With )l our promines on record, we should not | beuits derived Jyom them, 1 would not | deemable incoin? Will we to save Interest noarin | o o" Cong ot excellmd by the asme bopalation in any nortion | pe' deluded by the cev for ** fat * money. Pro. | €3to what beeamd jof them, Thelr coatizued tho futare all the exlls of Anrredeomable curreacy, ot RSl NE b PO R AON: ©of the United States. 18 4w 1o yonas Repunlicans I | cisely what is the meaning of this phrase I douot | existence oudht 0 depend upon _tneir | tescup & systent ut banke lndaitely better t!mnnny NMEN wish to addrees what I have to say 10-niht. Know, dul [ prosume §L meana s money that is not [ Avility, without cost or trouble to the United | ever hofore enjoyed in lml:uunlry‘ compel thess | Property edncates the children, maintaing all yonr THE REVUDLICAN PARTY THE PARENT OF | meantred by sny other, —that is not redecmable jn | States, to maintaln thelr cmnhung‘“(“ nt par | vanks now to call in their loans and closo” tp thelr | charitable institutions, maintaine yoir strects, accounts, and add tothe distrens of tho tines by daugerous and almost révolutionary proevedings against corporations of our own creation which have no spectal priviiczes, and which contribule to the general go@h by paying Iarye taxed and by act- ing ns convenient localized ugencies of losus and exchsnge! DUSINRYS DEPRESSION ALSU GENRDAL ABROAD. Judue Thurman sayst *+Now, certainly no one will deny-that thls country lios for the iast five years suffered, as perhinps no other counthy evor did aufler, frow do urcssion In every branch of business in avery fu- dunirial occapation, 1 aepy this statement in toto, That this conn- try has sullered from depression fu many brancnes of business and {n many industrial oscupations 1 ronds, ond {vcal Jmrovements, and ail _varts of pational, State, ant local povernment, Tho very fow tazes thot attach to thoso who buve no prope erty are on “hllk‘. tobacco, and _beer, which sre voluntary taxes, [f the (overnment cun da more to protect labor, it will, 1t offers 1o every citizen a tomeatead on the pubile landa. 1toffers every man av cqual chance, Every office and honor {3 open to equal competition, and it gives to no man rank, title, or antage except what he himself acquires. “This do. It eannot with United States notes ue caln. If they fall in thls they nught to be avolished. If thiey du it they ought 10 be cuntinued. ‘They are usceful financial ngents scattered through the United States in exe chauging the products of [ndustry and in localizing capital.” ‘Fhey_paid last year {0 the Governmont af ths United Staten §7,070,087 in taxee, and for Siate and local taxes §0,501,732, or a toual of “810,777,810, or nearly four millions more than Judge Thurnan estimatas we will save o thie peas plo by Iswuing greenbackes instead of tho bank-notes. ‘Tbesa taxes wonld s}l Lo Jost to the United States and to the States it tHe National Danks were abo fali “Thelr notea are gecated beyond nerndye GRE: K8, 1t was the Republ ty which devised and ssucd the greenbacks, and Which has thus far sus. tained theni and advancea them by alow and grad- ual procesees fo par witlfcoin, Nodonbt (hers Lave becn houest diferences, as it ia natural Usat there woula be,as {0 the means by which the reault Thanbeen brought abont, but here should be no difierence among Republicans as to the desire that the money contrlved by their policy, and the chosen juetrumicnt by which the forces of tha Thnited States wero marshaled daring one War, ehould be nade and kept equal to coin, However warryfop currenta of public opinion or temporary depreseion of Indusiry may tend todisturd the putic judgment, stehveld be the wiitand the duty AC Any other, —bnt bias its origin. foree, sanction, and r value in the mandate of tlie Government, and will vary day by day in parchasing power. An between (his Kind of money ana the old green- pack, regencrated, restored, convertible into coin, the standard of 'afl valuc, and the mediam of ail payments, 1 am for tho greenbac) nat 4 fial " money, A crest nstion like o reich in varied resources, with & free people ofjremarksble intelll- cance, 19 nol driven to resort 1o any expedients which wauld affect the publie credit, of tho pubhc debt, or distarh our bannonions relations in trade with forelgn nations, but should adapt ita money to tho money of the civilized world, make it as good a8 any other money, and_ malntaln its atandard of valio ‘n high as that of apy coln ever ssued from ite mint, posed, inxes, and distributo for the Itmited proper opjects provided for by the Conntitutivn, 1t csnnot conirol contracts men hey are protected from counterfeiting far mure succesafully than any former system, and, to thete credit be it ead, not ane dollar hae heen of the great party to which we belong to muake . National. X ki . h th t rood the pre rinted oo the face of their ‘Some of yor who belleve fn **fat™ money say | lost on any Natfonal-lank note ever fosucd. | admit, but every civilized and Chriatlan country in | mako witn eacl other, except ihere 0 e ey D L e O et | e n Tom avave” posu, mat 1L i cleat Wy Jon | W ferevee you go sa may carry tham with satety, | {haworld has suiiored 10 & greator unares, In | they are © gromly imioral or vio: swanded not only by the natjonal honor, but by the | can only maintaln thls moncy 8t par with cin, | Without nlm',i'."wfl a8 to whero or when (hey | comparlson with any nation of modern times, onr | late pubile policy. ty olice i rpent wero Janued. United Statea, THURMAN'S ODJECTION TO NATIONAL DANKS CONSIDRRED. Senator Thurman linw scsted some objectians to the Nativnal Banks, to which I will briedy reply. Ue save: *tIn the first place a Natlonnl-Dank corrency means toe fndefinite perpetaation of the public debt, A Natfonnl Dank exists only for twenty yeara from the date of its orifanization, and is liabie at cither by a careful limitation of its amonut, or by hoy are good everywhers In the actual redertion in tuin when demanded. " 1f that 18 what yon mean by *\fiat** uioney, then we will nut disagree, but itis well known that those who. advocate **fat® money want to Increase the amonnt Beyond & sum which can be mainialued at yar with coin, and who reek thas to chespen money by making it lesa valaable than coln. WHO DESIRE CUEAP MONET. 1 can Imagine how a man deoply in debt and hop- ing Lo escapn bankroptey miay desire to cheapon the money In which his ebt 14 to be pald, hut why wlien ft segures freedom, e«\\flllly. and nn equal chuncy in tha race of hife. Witle the sympathics of the Itepublican Party must ever be with tho Isburing man, it cannot viviate the fundamental principles of 'fren guvernment [g favor any class, of refuso to protect any cluss bt fha enjoyinent of 1ife, property, and ths frts of their awn tabor, In the general managewient of your aflairs Lhe Repubiiran party has dono all that it could do to develop tho natlonnl resoutces and malutain the natignal honor, to brotect all pien in equal rights, to sccuca to all men equat peivileges and oy equal clearest puotic policy, ThYs_moucy i our own, in which we natorally take pride, We guarded it in fte ciadic when it “was reviled and derided by our yolitical advervaries, ata timo Wwhea 1t was said it would wander ke Cain with a mark upon its brow, hishionoted and repudlated. We beheved ia At then, and we believe In itnow, WE PIROMISED TO REDLEM TREM IX GOLD. When we lssued it we promiscd to redeens It {y cofn, and evesy fresh iesie was accompanied by & freuh pramiee. in 1808 wo not only, by law, promised to redeem if, but provided for the zracuai condition Ju every respect I8 more prosperous and bsupy. If you read tua Englisht, or French, of German papers, you will find that our causesof complalnt are othing to ba compared with theirs, whaile in our country thery are many clfcumatances which relieve the gencral deprosmon, Let mo nania sume of the hopeful aigna of tho times, The whole period sinca the War, and before Lho_panic, was a debt-contracting peried, Frowm July 1,156, 1o July 1, 1873, onr Importa excceded our expurts in the enormous sum of $1,047,000,210. Much of s was Tor allka and furbeluwe, coptratted in the i n 1808 wo 8 o | sheuld 8 jaboring man, whase daiy toll is meas--| any timo by act of Congress to 0a abolished, this | faith of corncr lots marked up, of inflated | chance In life, aud that iv ready fo adoot any gontraction af the umodal, 10 10 e Burp e | o o N teiyes. desiro o Chegen | A0y ot RGP & Yery pitent roason. - T am sofey to | fortunce ‘sudilenly ' Rcqaired, ' 'bat most ' of | Broger st cobuiitutional riode of relleving dis- it wan for articlos that our own labor should baye produced. 3t represented forefgn copiinl. loaned to ourcitizens and to corporations, and paid for in Wovernment Aud corporation bonds sad private eay that the prospect of paying our debt £0 600D 06 1no iife of a National Bank Is not very flattering, nor are they itkely to deter its paymient, An for tho inluencd of tacee institntions 80 much feared ured by that money? Why ahould a farmer who bells hits productions for moncy desize to lessen s purchasivg power? Why shonld 3 prudent, indusirions man engaged fn any oc- wo nolemnly pledged_tha public faith 1o redeem these notca in'com. N0 teb, huwover, was taken 10 redeem theee piedges, and Wt intintion, speculation ran rint, vislonary schemes of the people. [ can safely apueal to all of yon who liave abared in the honors aud labora of this purly, tostill atand by its flag, now that the dini- under the simulus (iR b i itios of the rocent poat arv' passing awny, with O B avagance. brovaiiea. antll | capation ' wiio hopes by bis IhAfs aud indas. | by Mr. ‘Thurman, 1t1e nobnn object of wiarm, for | notes. The samo cauncs produced extravagant | cuitios of the roce 13 e ol 3 fell. |t mulata for himaelf B competence, desizs | it caniot bo combiaed, or if that wore attempted, | priceshere. Wild achomee, ratlrosas bunlt twenty | tho full hopo that aur country, always auvancing in Seplember, e, 't Lutlle banst, oot ol ¢ o B ettt by & slugie wave of populse | Hears in advanca of tholE nacd, reckiees expour. |.and prosperous eince Hberty was feat procialm tie wild delusions of the time were disstpated, | (u bave ki labor mensured by & viunuy of undtable ed by our levolutionary fathers, is still destined to 1ma oalness nen had 1o face the Inevitable evils | value? [t 1s tna Interest of “every oue engaged in | opinion, iases, jed to nuinerous detts being contracied and - I . pe N B k dvance under tho yuldance of the Republican 1hat ulwavA come from irredcemablo paper money. | industeial cmoloyinents, wio Is not s speculator 11is aecond objection to the Natlonal-Banking | 1o our corporationa and "°“’&'n='2“'im',‘§1’.’,'“3’|“'!§ e Witir ot ond rsster pm’p"r‘” stom §s **that it tenda 1o combine, concentrate, and Intensify tho maney powee," This again ia an tligsive foar, Therols no power in this country that Is wo weok In political manage- ment as what Is cailed the money pow, 1t never liap heen norcan it be concentraled o as Lo affuck political questions, ‘The tendency of uur bostitu- tlons makes It casy to combine at once political opinion am political power againat it. NO TEN BANK I'LEBIDENTS AGRER, plastered with mortgages. wholo conditien of our trada aud b changed, Since 1874 our exporis b ouf Imports in the sam of 3507, 450, 257, During the 1an Gucal yest the exceas wan §257, 450,20, otie exparts reachiow the sum of $U80, 708, and during this Sacal year (hix excesn of o ports is Jucreasing, ‘Ynisa debl-paying proce ‘Tha great vody of 'the debla contricted oefore punlc are now rettled, eithor by paywent or bank- rapicy, or readjuntnent, QUL BONDS3 NOW HELD AT HOME. At ono time Jt was estimated that thy amonnt of Unitod Stntos bonds held abruad approachod $1,000,000,000. * Twd years ago the gencral estl- mito was mbout $000,000,000. Now, afler the most caretul pxaminalion, It s esthnated ‘somo- whiero near $2(0, 000,000 or §2530,000,000. The cammon feor oxpressed for the auccess of any plan of resumption was that forelgn natlons could at or a broker, to have a Nxed standard of valne. It any of yoit who labor, are_{armers, niechanics, or Defong 10 any of th industrial clasten of life, and nave inpe from & depreciated mouey, You wiil bo sereatly mbsled, £ KVILS OF INREDEBMABLE MONEY NENETOFONE. Ali the great men of our conntry, our Ity tionaey futhers snd their descenadants a the W of 1812, and the statesmen of the days of Gen, Jackeon, deeply felt &e tn of Irrodecmable er nivney, An ence lud them 1o the con- tion that gold sud sliver coln, or paper money well aecused nnd cunvertible Into gold and sitver cuin, was the best fur all clistes and fuf a1 indus. trics, In thase genaral views in favor. of resumptlon, adopted by the Repuulican party, Wo have had thy ayinpathy and concurrence uf & cortain portivn of the Demacratic party, who, (hough Uiey always by tnstinct and huoit voled wzulust gvery mcasurg of “Puen, ufter diteen monthe' debate 1 Congrees and beiore the peonie, us a remedy for the eviis we sre eaffering, tho [teknmption act was pasved, Tho «nly abiect was to mako. our paper moncy equal to cuiti. It wax not tna Ueat possiblo measure, but wai the only one that could be ayreed upon. 10 wax very ceneral in s provisions, bot did give ample power 1o prepare for nd to tiaintain Fesumbtion. 1t did not abolish the greenback. On Uie contrary e greenbacks.were expr retalned to the exient of $:400, 000,000 e permanent currency of tho country, aid ihi war, on the tatof January, 1479, ta bo mado as guad 23 coin. to be redeentable in coln, and 10 be Srened and relaaued as the money of the people, the soundution of uur currency, ‘Chis was 1o bo tho Tulnlliwent of our promises, This Was our apswor 10 thone who #ald the greenback woald never bo, redeemed.. . . ¢ HESUMUTION AGT A3 VINDICATED ITSELP. Mr. 8herman during lls speech read a letter Party orguntzation 13 influitely more powerfnl for combination than the money power. ~ My own expurience In afico enables me' to eay that f yon canvene ten bunk Predidents you will have lea dif- ferent cpinlons, while “u ¥ urganlzstion brings efinr.m g0 Tuurman and Gen. Lwing on thoe same platforn, P Nor In it true, us stated by Judge Thurman, that thy leglalation of Congress favorud .jha monay in- 1erest during the verivdof the sway of the Itepub. from a correspondent of the Cincinnatl Enguirer of to-Uny, in which the followiog questions were asked nbout the trade-dollar: 1. \What 18 tho matter with the trade-doflart I expect you ta say (L (v not a legul-tender, uor le (¢ for 00 cente, 2, Dhd the Qovernment recolve dollar for dollar wlten shie put the trade-dollar aut? 2% Did the perron on recelving the trade-doliar from the Qovornment do €0 with the undorstand. ing that he hud to take it to China to wpend 44 if anytady ia ta blame, who ta it? Mr. 8herman sald that tho tradedollar was not o logal-tendet, but {i 18 worth 90 centa ns bullion. ” Tno stapdurd doliar Is a_legal-tendar, and therefory worth par, That Iathe differenc "T'o the second question he answered that the 4 felow-citizens, the Nesumotian act | the Repuolican party from the beginuing of the | lican party, for tnis logislation was,guided by the | once, by a return of our bynds, exbaust our gold ? b 2,08 Vandicai 1:||w|r. l\\-f will be ‘p:‘:‘uuru;l wien' }\‘nr ‘:? .'1"" wtufio. L in Arlhfl 5 d:nkm “wu ::v nlll;mnnl "“fi’i“fld Euwn;;‘):upg;. A s aud ”i"':?:xfig‘- !‘!‘::l‘;r‘{-.flt}wzu‘: ;'l::a :. ‘?omlo;g" H":fi::;’;:fl:gmnf;%n;nzlm n'fi"'.','L’g'F."‘} r:hslr:rcu . od ANAIL Aeriver to exeento it and main- | hoar .ol ve War, always professed o be-| Vional existence. endel It r Watlon | feored wi nglo year ¢ 11?(..’:2‘.“’..’;.. entire confldense 1y 1l happy elfect in_ | in favor, and talked §n javof, of good money re- | strongat home and reapectad vnnnfda. and in no | would pav oif every dotlar of our nationul et | half cents for coininz each' dollar for private bulllon owners that was all, -It was the miller that groumd the grist for o Amall pereentage, “To the third question hie replled that the bul- llon owner id receive the trade-dotlar for ex- portation to China,—a device mnade to ive hin a market for bis bullion,—and upon the fail of silver v was perverted by him as a means of cheatlog outr own people. hetd boyond the Inutta of the United States, Last winter, when an cxageerated fonr wrevalled in Europe as to the offect of the Bliver bill, 80D, 000, - 00U of our bonus were promutly absorbd by onr owa pcople in sixty duys, and, although this stopped tho snie of tonda by tho Treasury, it steengthiencd our position by Dringing then home. Anuthet favorable sign of the times {8 the very Tatge increarn of domestic production, both f tfie fari and of tiie Worksliop, Wisich not only a1l the deemavle lu coln. ‘Fhis class:,: of Domocrats, thouzh they vppoeed the Resumption act, did it be- cause they declared it 1o ben Uindranes to reaump- tiun, sud denounced us bucause we dia uot rosime sooner. Thie was ihe bosition of theJast Natioonal Democratic Convention. g SENATOR 1LTGMAN IN ACCORD WITE REPUB- LICAN I'QLIUT, o Senator Thurman, my colleaguse fur siany yoars In tha Seuate, was ane of thid.class. of Domocrats, sinzle question bas it mouey intercat. TUE VITAL I53UE DETWEEN PANTIES, s ‘The vital ssue between tno two great parties has heen, un the part of the liepublicaus, & deslre to maintaln the integrity of the Untun, snd abolivh nlavery; to secure cqusl poiitieal nnd Cl?l fighta 1o il men: 10 maintuin the national biouor, and to advance the indusielal Interests of the couutry; the Tevi dence, tonr months beforo tha time fixed, silver 2nd £old and paver aro alnost on Jar % IEh esch uther, Your greenoacks will now pay within ofie-half of 3 “per cont an much provision, clothing,’ and Ctner thingsan the et gold culn over iksued from tne mint, . ‘Tho laborins man basa atandard of valae vqual Lo that of the bondholder. Whe, odly prowlee anfulflicg by the Lepublican puety 1s favored what 58 called the THR TWO OREAT a1 busitices und. the Teatoration of cond- wlmort verformed. o " | 'while tho theary and policy of_the Democratie | biace of gnods tietulofore imparted, but enuble us EN. o) o, it oy whlch tho rennit Vaw beén | 04 althoun'our Snancial meusuren did not ex: | R LD LEe o SR Tue Naduanl Govera: | 10 SOWDGLS With forciyn najions i tels wn mac- GEN. GARFIELD, | achicved wery slmoie, Iawful, and beneficent, and, | ok Veci ho freely eatd, like Mr. Bayard and bordinate 1t 1o the power of the States; | Kotd 1S SPEECH AT MASSILLON, 0., Aua. 24, 1878, Derhiips, 1t 18 best fur mo to stato thom 89 LAY | giiers, ‘be dosired resumption, and stoad by tho very; to loave industry without pro- WONDEHYUL INCREABE IN EXPORTS, At o Republican mass-mectipg held in Masail- us T ean. poor nd to sectivnalizo into petty the elementa of a wrent and powerful nation: nnd theev ara Dow, and will bo it the fu. ture, the tuevitable tendencies of thess Liva partics, ‘Dhio third objection atated by him to the Natlan. al-Buak circulation ts, thut it 19 a spocial privilegs, and takes nany millioos out of the pockets of the people. DANKS ENJOT NO SPECIAL PRIVILEGHS. ‘This agein 18 untrae in paint of fact nnd llogleal In argument, The Natlounl-Bank circulation iy not a apectal privilege, but s Opun Lo every anso- ciution of tive porsons thas may be organized in any nars of tae United States, T havo hera n recent tablo showing the Increass of leuding exporte of our own production. ‘This shows that our exporis of catton, fron, steel, cop. per, leather, and uthor mauufactures has fucreased within ten years nearly two-fold, 8ud that the ex. voris of our agricuitural linplemants and provislon have incressud nearly (Lree-fol 'tie ot umonnt of certain leading commadities exporto 11 1508 wan §141,000,000, And in IH7H wan 3404, 000,000, showing an increase of $20:1, 000, 000, Another table shows tust our importation of certalu fabrice which we can readily make fn this coantry nas diminished nearly one-hait, texe. tile fabrica, Inclucing manufactures of cotton, stlk, old Jackson Democtucy {u favor of hard muney, ‘I'ae oxinyencles of party tactios bave'led him r- cently to make & speech to which, with entire sexpect tor bim, Ldesito Ueletly to repiy. So (ar an to wecks toshow Lis conwnteney and concne- renca with bis fellow Lemucrats, i waiter, and | will not tntecfere, bu Dosttions taken Dy bim 1 must conte ++1thunk § do them no jujustice when I ey tost tha feaders of the Kepublican parly ary in favor of directly the or;wnllu courav, —tunt s Lo say, thoy would Tetite all the greenbackn in order that thelr places might be dtied with Matlonal-Uank notes, " lon, 0., on Saturday evening, Aug. 2, Gen. Uarfleld mado u speccly, from which we cxtract the following: Sdnator ‘Thurman, in lila late apecch at Tamliton, glves hia nnaunl!fll:d indorsement to the L‘lllo Pl form which demands tho sbsolute repeal of the Korumption act, and that, too, When reramntion is nhmoat accomplished. Tho only pretext offored by tha Olito Democracy for demanulng ita. ropeal, is' tho charga \Naf the. busknoas dlstross of the country hna veen causcd by the operations of the Ilnlulumllun law, and by what they call **the mer- HOW IT WAS VINDIOATED. Cipal—Silver coln wos gradually substitated for fractiona) vurrency, The smount of (ractioual curreney redeemed to thy 17thof ' thi £25, 080, 601, ‘Fle amonat of Fractional fevued o tue nawe date 1 240,307, UH0. hern no contraction, but au increase of over E14, - 00D,000 current money by the subatitution of o durable coin for an cxpensive and wasteful not Secand--A eradual retirement of United Stat nntes from S34 187., to SHY, 61,016 now. I circuluting noten w ure ) UULMAN'S ASSEITION ] Tocall 1ya suecial clices volicy of contracting the cuerency, hoarding Lt ouly 1o 1he cxtont of O per cont of the | SANATORT N8 ASARATION ENPUATICALLY | B0 B0 S0 dhmurd. “Tu auao priviices) Gighs oo | Slothing, and dresn” gudu the amount aiorted | Gofi: and inerensing the vaius of modey. This anden wi tusted, | Thie was 10 bo continued uttll | gonator Tharman In geeatly mistaken fn this po- granted to ovory Individonl ¢itizen of the United | Into this countey in W33 ks 810,000,000 the | chinrie is both reckives and unjust. 1 sk eve amount ontrianding was 8300, 50, V00, bul rgress during She rocent sesslon, a view of the peverat desire 1o stop ceduction, suspended 1t and tized the amount of United states noled at §:HU, 6Gn1,014, the suonnt then outstanding, Thous 1t slds to the diicultics of oxecuting the He- auaption law, sull | have entire coutidunce in uur amount imparied fu 1578 was $n3, 000,000, make Inza diguantion of 574,000,000, wost of which way supplied by our own vrmiueuon, PALLING OFF OF INPONTS, The Importa of irou und steel in varions forms in 1873 £50, 1108, 432, while In 18781t had fallen to §0, 057, 851, showiug & diminution of 30,250, - 40, Tuis 1alling olf Was subvlied by out own in- hows thit & corporatios: s muro wivaly auministered when it & combosed of & nuwber of porsetis, notless than five, than when it 18 controlleqd by & singie peeson, and corporate nuthority la esddntial (o preservo its existence In b of & pariner. Hut for tha the might ve granted to every citlzen the Blates, but exporience man who belisves in thi allegation ta wrostle wit [} tho following facts: [n 1800, year of poace, and, 8t loast, of falr prosperity, & yeur of Dewmocratio rule, this country had §507,000,000 of paper eneroncy. Up to” that time’ $215,00,000 was the larzest amount Of paper curfeucy ever in_ citenlation at any ona timo in tuis coun. sition. As | have already shuwn, the Republican party 16 not 10 {avor of toliniak the greeubacks in wrder that thelr ptace might ve tiled with Nutlonal- Bank note No doubt soms Itopublicans, 1lke some Demo. ocrals, are 1 favor uf the United States withdsaw- tny from the business of isauing paper nonay, but - special privile PER MONTI. Lo, Mkt o dwiinclly fualntalus thesihtand ) “Av to putting monoy Ity (e pocketa of the | ‘Iictotalleading mautactares wamed tu thistabla | they tould 'keen In clrculation, No oo The Third - By the accumutation of coln In fhe Trean- | g S0 S QEREaR E Kooe o e cia bo ‘roudily | shareholdere, this azain f8 ubaurd. Tue tioveru. | Imborted In 1875 was 937,65, and during the | claimed that thero was an insuficicnt volume of ury in view of resumption. The authonty to thi waintained et pat with cotn, ment pays nothing end contribates notulne ton | ncal yearcuding Junu 30, 1878, 1t was $124,211, - | currency, and 1 doubt whother any reasonable man uceumulate la plainly givea by the Resunplivn In every uthorizing ihess motes chere fs a | Lank. 'Iho shareholders LUy the bunids of she | ¥, moking & falling of of 314,747,890, Tuis | will tiow claim thist the carrancy ‘of 1HUD Wiy ue nct, and wus the chief means provided to sceure | nie fixed to their smount, Government and depoait them with (he Govern. | @reat decreuso wi peclally noticeabls fu the im- | sufiicicut In amount, Now in tho wonth of June, wment for the securlty of the nots-hoide tie bank retires, the onde helong to the sharehulicrs and nut to the Uovernment. Nor can the Governs ment pay theag bonds In any other way thau it could pay the bonds Ja the handa of Individ ‘The Uovernment woald pay Lhe same Interest on those bonus whether boid by the bank or by aoy citlsenn, of In Barope, HE NEASON WILY DONDA ARB DEMANDED ccunty ause Liey aro tho best vecurity. Mal for this & mortiage aecurity or a persoual ace curity might be Taken, bt sy the (loveramient sccurity 14 the highvat an this {s demanded, nut for the benetl of uvernment, but for the note-Lolder, for whom the Guvernment b trustee. When the tioverument payw to t intetest oa bonds held by it as pays what 1 jusily duo and what vud matntain resumpiion. My predecessors, no duubt, belicving that ihin accumaiation vugnt not to cowmence dormyg their torms, had taken uo #lepn under L urovieion of the Resutaption act. When 1 assunied the dutles of my present ofice, after carelul study of the whole question, I duter- Zatiie 0 tuat §t would be peceasary to accumilate, 1n Buditun Lo the eurplue tevenue, tho saw of $100, 000,000 of gula coin, and that It ught to he ac. waulated at the rate of 85,000,000 8 wonth from ny, 1077, 0 the UAl 1t was contlaently declured by he law that 1§ wauld be 1p Lo s coin without puttiug up the price of uld, sud tius defeating thy vngect, but the esperiment ehuws Liat it was sut oply foanible but sdvantuge- wus Lo the cereat busipicas of the cauntey. We accumuated eaiily during elgtit_months of hat year utthe rute of $3, 000,000 a wouth, with guld cunstantiy dectinne fn price. ‘i process aw grreclel Uy the uebuted I Congress and the thicatened repcul of the Kesumotion Act, but was 8. enatied i the spring of this year, when it was found s0ll more ¢asy 10 sccumulate cotu by e wale uf 413 e cent bonds, and the oryinal Jian was executed soutier Uggh was aubicipated, Ly tho more rupad saie of bibda w0 Chat. o the 30t of thie manth the Preusury of e Vulted Blutes upplied with §209, 011,753, 15 gold sud milver com aud bulhon, FRECISE CONDITION OF THE TREASURY LELATIVE TA SUECLE. 1 have received & rccent statement from tho awuter of the Linited Siates which sbows 1he precie cauditon of the Treasury W view of ge- ton, 2 foilowa: UNITED STATES, W ik | Dave e Bouo 10, 1878, tucre 1873, Just befoge the great panie strucic um,* vur outstauding paper curruncy was 8750, 000,000, or more than threa timee the ainount in 1860 [u'tho fuce of this fuct, will any manjor lutel'igence say that the panic of ‘7 was_ causcd by su fusnfticlent volulie of papers currenoy 1 ‘Yhe volume jn 1874 was greater than it bad been in tho six previous yei It waw ifty wiilfons greater than it 1870, In the panicuf *7, Jike all \is predecessory, when thera waa au luila d ticre lug volume of currency and eredie: t healtate tu declare that initation was ono of the leading causos of that panic. Un this point I fortify _mveelf by the great aullority of Senstor “Thurman, On the 2ith of reh, INTH, & nowspaper cxtruct wav read in thy Seuato stating tyat Senator ‘hurnin, fu hls cam- paign speeches, had charactorised th pruic as tho ro+ult of an efort to forco the rexumption of specie- paymentd, Ja roply the Benalor denounced this statenient a8 unirue, deolared tuht ho nevor utter- e such un ddea, und ho thon set forth with taeter. ful clearnves thy real catiaes of tho uanic, namely overtzading, Tunning (o much in dabt, emoarking In unremuncraiive enternetice, aud notably io the Norih Focife Laflroad eatorprbe, “Thesa wero (o causew whicl the Senstor assigned for fho panic, 1t is far too Jate In the day for the Democnicy to churgo the buslness depression of this conntiy upan the Reoumption Iaw, 'Fhey aneal of = were cilesy contraction,” and would " have the people bellove thal oven now the preswdre of the bard Sluica §8 cauned by an_insuMoicnt circulating uia- dium, 1 deny iu toto the truth of this allegation, and challenga them to make b guod. From the aitfeisl peports of the 30t of June b 1L appears that Lhere are now outstunding fu this country $inB, 000,000 of paner currency worth Uik centa on (be dollur, 1ts real purchasing bowar 14 During tiha Wat tus guarautes wae made, nevor Las been violated, that the auount uld not exceed $100,000,000, and no authority bas cyer el cunterfed npun any oficer of the Coy- ernment to reduce the nmount below $:500,000, - 00D, but now the miwiwuwn Hmit 1e dzed, o 1 bave already stated, at $340, 558, 016, BENATOR TUUWMAN WANTS NATIONAL BANRS ABOLISHERD, In bie apcech at Huwmilwn Semator Thurman openty aavbcatea incrensing tho mnount of Unied Staten notes outslanding from i, 000,000 » U X u( lsausng United Slates notes ih pluce of tha Nutlonal- Bank sutvs outstandion, Wy daclares that the prancipal feature of the Demo- cratic platform 18 1he proposcd sdbstitution of rteepbacks for Natlonsl-Bapk noles, 1le would thue Tender wpecie paymonts fpossible dusiug this, aud perhups the texs, generation, aud b #Lu tine when apecte resumution, whicts by haseo stroogly favored, L on the eve of success, TUE FOMTION UF TUE BELUBLICAN FANTY DE- PINND, The position of the lvunolican party 00 favar of grecubucka 1o thee norual condition of paper woney, equal to coln and redesmablo in demand of the holder. white the porl- 1100 0f the Democratic parly, e stated by Judge Thuepiun, 16 iu Javor of the euc and walntenancy Ju curculution of $608.000,000 of Cuited haic notes witlout any provi demption o thelr cunversion 1wio colt, This lveug {n distinctly made, and for one I distinctly sccept it We aVOr paper motiey redecisbly in coin, sud tha luryeet amount thal can be malulained at par will ¢, Whils he favore su amionut of Doper issued directly by the Guveruinant, uut converts ihle 110 cuin, with no provisiun fof ila redewp- ad Lor of manafaciures of cotton, silk, wool, Iron, and “ i of our exports and diminution of our_fmport crhaps tiie mmost rembrkable in muadern times, o are compeling In cotion fabrics with Manchiester, lu entleey with sheitield, (n fron and ricel with Birmlugli, iy waiches with Switz- eiland, awd {n gloves with Frunce, It jaa debte yins aud trade-developing process that is adding mmenisely 1o our wealth. REDUCTION OF INTEREST OP DENT. Qur progress towards rexumption le accompanied by Incecased national crodlt, and by 8 large reduc: Uon of the interest of she public dut. Ugnder the Refunding act, yhilch 1a deslgned to convert our 0 per cent bonds fule bunds bunring u Juwer rate of Interest, Wo usve already sola at par i culn $700, 00U, D0V of B per cent bunde, BiY, - 00,00 Of 4'4 per cont botide, 3L, U0, 4 per cont bunds, the Jirocudustol which (¢seupt . 000, 00 vold for gald caln {n hund) bave been applied to pay su equasl anount of U per cent debt, making an annual saving 1p tho interest of th debt of 510,000,000, sud we'urs now dally selling 1he 4 per cent boude du’acll{ 10 the people upun fu Dasie O & popularloai In auue as low ue 830, ‘Tlieas bouds have ueconto 4 vinze bunks of tho people, o wafe devoslt fur alwuya avaltablo fur use whoq nceded, bud dopeads ing upon the huuor of the nattug, aud, thercfore, sale from luss. 'Che plost satlsfactory feuture of tuls Joun fa that 1 b» being Bgld 1n enill suns by great numvers by wus fedow-cliizens, sud iy dis- tnbuted througuout all the States In the Unlon, Duning the dirst twenty daysuf the present monthy out saics of 4 per ceat Yonds amount 10 $20,000, - 000, and | now bave tho confident Resurance tiat dur mi this year they will vxcved $1uu, 000, 000, amd wil) pay uif wil tue 6-20 O pur ceut boudsuf the ‘ mere e hal:h ecurity, Wt only would huve to poy ot ull events (0 suybody huidiug the bonds ug- il they are rodeenied. diuw it takes meng millions annually oot of the pocketa of the people |v hard to conceive. No one burrows Liic notes uf the bunk unlcse it for hie mterest to Ao sn, ‘Che ability of the bank to lend 1% & convenience o the borrower o8 we!l as the lender. ‘I'he Uovernuient canuol eugage bn this Lueioess of lJosning mum.-!. It wi lilmn orLy tiwe for the puople other Lhan political utrikern if (he Goverumnent luaned monuy, This s parcly a te, personal employment that should be zu sckemithing. “The rikht 10 lssue notes ls froe toall un the snuip terma, ond, When 8o guard. ed a8 W prevent foss (o the notebulder, 18 the best roullvlo 1acuns of J0creasing the awouns of oircus alug Butee 1P GUBKNDACKS WERE 'SUBSTITUTED FOR NA- TIONAL-IANK NOTES. be G unicat aught to lsene whatever for thelr uinaTON, o aivise 16 1 tue Areusury Wat (f the Goveru: £ g a1 fullow tion, aud fo an mwount luat no one bad clanmed e ¢ 7 Issuu of 1805, herefore SU84, 000,000, The L b oo cut favuce them I must underiake 1o muntan | baseo . O T e (e e talon bug-uhe Gl ol im0l us can be muintamod st porwith coti | Cop oo | G oD with caln, uf clae bie peonle shusg naf- ENGBECHION OF GOP AND BuNEm yeur $u ou? hixfory When thy purchasig power of Gt bl Vi s L L e D |Mndmm1udm ou (be evils Of 30 irgedeemadle currency. he United States {s now 1ha largest promucer of | OUF paber fonuy leas groater tiwi 1Lt (o day, and BINVCE Lullivieeeensers SRIMLALG 0 o0 (o | S46,000,000 eresnuacks aud 837,000,000 Nas Cont Of Dhin rudemption Ly the bauks 1w aleeady | pold and siiver 1 1oe World, “Lurig tha Jast yeap | Wit was 1874, whei Lie becretury Of the Treasury Felasued 32U, 000, V0 OF gregiibacss in the vain at- 1empt 10 My the progress uf the panics 80 reat, bub spocly payments Lavy actuslly come, tho vsthnated broduction of gold was Thiat thig so-called sbecial brivilege o getbiny 1o bo | and of Sl Yo Of which there will by aud of stiver, $30, 000,000, snd, thouy lnal-Bauk votes st par with.coin. The da- ehulied 1ur the luls BANK NUTES PAYABLY IN GUEENBACKS NOT IN | & special burdea, and piore stk urrenderiug sck lodo gies evidenca of eXbaustivg, othee | STERVS AR favu Yalus of Ut paer cutiency hus been plowine paymbnces - COIN, T Cirtulation (han Are ki CTCUAtion: 1015 | sk Are Lelisy discovurcd, and Il urabbititics | MFo than compéndted by tho iuescasa of Ity wur- $ 45,000,000.00 nt he forgets tostato that the bank notes sre | 8 speciul privilego Lhat mory woek 10 avoid thau to | arv thit our prosuction wiit lncreass ratber b chasiug power, E; i ccilidentis ' Sil uBacks wnd ot 1 cola, and (hat | begulie (L e b the Tatteg | dluunieh. Tids te an dupoctant rlauwx,l.:l in the , OROUNDS ¥R REIUNIJION, 4 . ¢ meid by the banks st thele rivh udye n20 compules how mucl nitey usativn of our ubility tu wajutain resuniplon, e 1 . 0472050 i:n-_ Lo . R0 e pore ot Wt by Tthe Unted States, "No | States would save i, it tawued £529, 000,000 more of | P LR VKLOVNERT OF AMKICLLTURN, L TeElr Saulh YA IoNls, te o 1ane Doty ot W anssaseiq wl&m-mu Ix negdud by Lt for such redump. | grevivacke and ‘fedecoted thas pmount of hunds, | Tnca, ayain, tie enorwoug develupmens of our ire'—1L'be puvlic fath deuiands it Uy ol th Doineinar o * tiud. The lasue of these noles aids in waistulpin; do not stop 1o exawine this nputation, but 1 | aeeiculfural production, tus chief emvloywent of | solemn pledzes hich o nation can glve, the m’ Likied L0 be dus aud ke + | toe United S1atvs notes at paz wath cia jostead of | Only woundes why hu aloppod st &122, 000, L. Why | oiir people, g1¥ea 8 suurce of Nealth and prosper- Toration of Speco-pagioent was promised "o i uy it dabis oo obstructing it. % - BOE RAYE (RO €BMTE 1lerest l-the PULIIG (008 Y | by uhorampled i any RatiOhit Tuodern osbist, | Rreonback was sonerd hat promise puehciah Coy lutarat eatlibutid » . “Yhe bauks are reqniced s Keep o -thelr vaaite csiibacks for (s wiviis of I} Why nat o the Atlutie te ke Fociie, fRom Canada 1 | Seer Leps Jouk v and 11t an meiriaite VI 1o Cieie hat 4.000,000.00 and in the Tressury of, 1ha United $tatos su anmbly it 8t yuegl. That wauld, sccording to ble | the Gull of Muxlcd, our countzy bas been Licawed | distonest ta nticpt to provent is fultiinest uow. _A00R00M00 g 100,00 | FeREIYe Of Uhited Stale notes 10 fecec fhele | Computation, ugie tlie euttrs Tulcieat uf fbuablic | with bountiful harvests, Gamutiig plenty of food 10 | © SecondotLo BIvhest juieroste both of Jatsr and ——rr——— | N0lew, aud thue Lives 0 the United Statey, motvs § deot, or $:h4, 000,000, with 00 Gtler lysd thaw the | sl pur goople podsn increuse of. our exporud £ | of cupital depand resumption. Uneectainty ju th Excrit...,. AEA,30.05 | 8 use’ Which teads (4 waiutain themap par wila | 10ss oF nailohal Ranor. Wi vy Europe, V1 Wiereiaud thus 8 gk aLrca 0f whagt, | Worel Iemiont 1Da (aty ChcE LEto the Dasimoes cale Thu kuid coluon hand. stated shyye: sy’ 418,» | cvin, 'Tue whole burdew now tesbii.upon ths | TINELY QUESTIONS THAT TULINAN 6MQULD AN- | {4 nuw vourtay lnto your port Yor silpuienl. ™ | culations of men; sud the upcortainty which lege V1o v, dues w“um-‘:-mm%)tgw or linwm‘mtnl. 12 Lo mataly resgwption g Ly ' BWER. ! b 1t be this inluatey waich Hes'st the foundation of | tsiution bringe ls the worst form 'l)l’y urari-lnl;. Tl re T by i radary oo DAL Smouns uf Usiley Matey ot 4ud \uis synfces: | /Wbat ammeasicg” has bo st 822,000,000 will | our prospacity, sud which inslbas o mitlious of | "oy Gioveruaient inust yet out of theway and Iok %46 55 FEACUAAL SUAVE LuiBe VETY - it ,Y}““'" teaenre of frum 30 Lo { gatlefy tha wory advanced Tts of repauintion? | lubater to aid in tho devedpbmont of uncalypted | prosperity etucu, It can du Sbis best- Uy putiog Y 40 per ceul, whicd' vo du Bahid, white, it 1he | Klow will be pay oat the 8453 v, + Will he | hgada. The War withdrew £ agricuiture will. | it out 9f 1Be puwer of Cougruss ‘(0 cdunge Our i e ‘”'"n -;,.“.‘w ‘.*, il :.!'x:'. :.':;u:‘:'|‘u":‘i‘-‘:r‘$"|mn|1:fi3 ll;nz::l‘:;ur; flu Lhe‘:xgu: Pwm burgds Al ‘;lrb\:llh Ithcnhu 2 of hhun,n'; ‘wuusr'A :“ mvguu:nfl ofn lg standard of value by muwu:. il il rus ow. ¥, mecrelasy U Trepaury. . c AL vce he deny (o woral aud, fesa) olyizatiun thiv mont biewlthtnl and havpy bursuit of 1y, an Fhurd—15te chict bardubips of rosamption $144, 'H_‘:ummw;,. AVAILABLE UVER ALL DOIN fiu;sep&x:flo'n:::‘:l‘:\;‘::nqwmbc sumeiens for %’b'unyamfn h{u‘\‘rlguqx:' lu’,}::o’ the'erowded citied Bru freely thyited tosend ibelr | already bect endurad, \vu?; 1ha Jaw \,hy.: Lot p - o tmniediite P the act of 28431 ullect of the oumintucviaent vf wuek au tasue would dupregiale Lhe noles lower aad Jower, would widen more sud wory Lo Lap Lelween 1ho tulde 004 Cott, would revive agdln tbe distiuctin Lelvsen ,the ;‘urp;u. pupulauouto unmultieu- aud boanti(yl Arvests. Gl Al{0r the War of 1812 (e mifgration commenced which provled Olig, Indizuay”mnd 1liinuls, ang, allbough tuere are 8o such rick lknde upen uow fy LANK NOIES NUT GOVERNMEN NGTES. 'The Lank nulew 8re NOL1u Ly suise the notcs of tho s crupwnt. They sre.tus nobs of private corporstions jwvly yred, redrenacd by tEem, Passe fn 1875, OGF paper IOBOY Vas alacount of 19 perecut. dince then it haw slowly aud gleadily ecows botler moiith by 1month, - until -cow it s but balf 8 ceut Lelow par. - Tuosbors ulep Lo vta- bihity aud cestaiuty will burt fas Juss ihau to re. ihe ‘irearury b 048, 544, 35 fract Balitig sitesdh, 8hié fOF resumption purposey Xer agalisg K wr dewand whate: it aud ' suppurteq by alved by then,” ot Al they fuhl 10 redecar | bunabolder sud 4he poteholder—guld fug tup boud- | settiement, yot Texao, Kauranl Nebraska, uud the trace ur siepe sud plunke back sz fato the evil The ower, If necetoury Uy gol) Loudé YoXie ol rer b Acih. tby aecurity cab at once ba apulied W thelr Bulder aud deprecivied paver muucy fur Uio o wno\. Vier off BLates whet of thy Mivsouri River, the | frou which we Tave cecepad Siould wo now re- sumptiou. Wiln thlss0ui, sud with the puwgrs [ fudempiion. ‘Ihis vxpedicut of allowiog 8 poctiva | ple. 1t would s ence stup the (undiug operstions | pether n%m-u,u undeveloped’ Tertiuubca of 1ko | treal. the unseiljed trandactlonsiof tho lask year wuplerred Ly Jaw, §auw eatisled tnat it s aby o WAL Fesuwpbivy, atd such, | behiend, e now *ho ludvimunt ol tha Lust buedbiesLicu vl jhe of the clrculation W Lo uscd by urivaly Curboras Gioua ciabled ué bu aIBtalu Ly clrculation uearly bbize B3 WULh DAPET Livuty 84 Cudd b mAGLaL] under which We save vne-third of the interest of the patiogal debl, No wan would buy vither # 4 OF 868 a LY Lur Celt Gukad 1l Lot [3nd Of 85 asb ol woulil be 1hrowa Iute utier conf abandou (b sttemipt at resumption, the futucy will by Chinded wilh wh uncertainty bat wiy cut, tfVile wizration wnd WWre Lo lavor s jost reward. sud oUer (e facihiiel for Leansportaiion azd settciaeus 18k our futhenf 8id 8ot wnjoy on, If we how estray confidence and prevent the rotarn of pros- verity, Three vearango the Democrney denounced the Restmption law as ineMclent. Natw thes dennanco it for 1ta efMciency, They Know that its cnactment strengthened the public credit and incressed tho coln reserve. “The halance of trade now Iargely in our favor is adding 1o our stock of the precioun metale; and the momont that grecnbacka aro equal to coin, there will he aidtded to our effectivo cor- rency the wholo volume of onr coin. The Democ. racy would prevent thls, They sdenonnce us for making the greenback hetter, They reek to make It worse. \When resumption conies, the Jaburing man's dallar wiil be eaual to the best dollarin the world, If theefflurtof tha Diemocracy to repeal the Resumption Iaw shouid socceed, 1t will make the grcenback do)lar poorer, anil moka tho gircala- t1on of gold com imnoraible, 1 the farméra and labarers of the countey wan', theie muney to shrivel 30 thetr hande, fet them nieip to prevent resnmyp- tion. 11 they Wwant 1t (o become as good as the best and continug stable and sccare, they muss bold vn 1w the law as s, The ltesumption act did not provide forthe destruetion of. the greenhack currency. “Ax cone #trucd by the Administration, 1t Jef13&100, 00U, V00 of rreenbacks 1o be kept In circaiation. | Dy anact of the present congress, the SmOuRt to be kent m clrculation afier resumption 14 ~8:146,000,000. While 1do rot believe in the Govarnment tnrning Vanker and tecoming & permanent insuer of cur- tency, T am wiling, for the present ot leanst, to TLAINAIN a8 (ALY Rreenbacks in circalatiun as cAn be Kent at par with coin, and no more, The Re- Aumption AW provides that the greenhack ahall become and remain equal to coin, This tho Oro Democrate oppose. OGHEENDACKS 1IN PLACR Qf NATIOXAL-BANK NOTES, Fearing that even by tne repeal of the Ruumr- tlon act thes may not now be able to prevent the Testoration Of apecig-payments, the Olilo lemoc. racy arc determincd 1o iake snch farther ateps na #hall render resumption impossitte. They demand the abulitian of the Nationat lanks and the {asmu 24, 000, 0O of greenbackn tn placo of the Na- tronnl-Bank noted to be destroyed, 'The objections 10 this are: Zira at it 18 & fiat vioiation of tho Constitu. Every Democeatic member of the Supreme tlon. Lourl has deciared that even our preeent lavue of greonbiacka )s nnconstitutional. The majority of that Courl defended them only na o war nieasitze. No lawyer betieves that the Court will sustain an additional eeue of greenbacka in time of nence. Gen. Ewing has virtuaily admitted this: for last winter he introduced a resolution, waich s now ponding before Congrose, a0 to amend the Constie tution na to make tho 1aue of Treanury notea law- ful In time of peace: yet tho Democracy demend Just this unconstitutional legislation, ASecond—The proposed subsatitution renders roe rnmption impoasitly, ~ A8 thejlaw now atands, the Government must malntain $::6.000, 000 of green- backa at par with coin, and ‘the Treasury s amply ablo 10 do ft. The Natlanal Banks &re required to mareh avreast with the Goverament, ond at thelr own exncnso keep their own notes at L"r. The Nemocracy proposo fo releasa tho 1iks from this duty and throw the whole burden upon the Treasury and the people. Iy an addi- tional issue_of §324,000,000 of greennac make tho Treasiry responsibla for maintalmn; 670,000, 000 of {ha paper, Lvery intelllgent 1nan Knows thut the Tressury cannot koep 80 large & volume af par, Third—1nis substitation wonld entall grievons burdens upon the laxpayers of the country. As the law now atands grecnbacks are excuipi from taxation. Poor men, who hold but few, gain liftls advaniuge from this exemption; but it #a a well- known practico of our capitalists fo put their sur- glul TI6ANs Into greenbacks on Lhe day when the tata sarcssment for taxation §s made, and thus escape o large aharo of the publle burdens. loth tho stock and notes of Natlonal Hanks are subject o heavy tazation. 'The Government tuses their clrcutalion and the Siates tax thelr stock and out- standing notes. From 1804 to 1874, inclusive, the Btatesnnd the nation receivedS187, 0U, 00U of taxes from the Natlunal Banky. Thy Democracy proposo to abandan all thin and ceeate In ls stead a peivileged carrency of 824,000,000, -which,wlil e exetuyit fram tazation. FourlA—1{ this attempt {s pucceesful it will re- snlt ia the restoration of tho wretched State banuk system that previnled befure the War. No man of intelligenco will pretend that taa dusincss of this country can be carried on withont bunking facihi- ties, Statistica ahow that nearty 80 par centof .our exclianges are carried un by meanspf bank ct:fckn. drafts, and commerclal bills, and only 10 pef cet by the actual use of monoy. For tho ses of modern exchango the bank s as necessary the ratlroad ia for transportstion, Now we have uniforin wystom, open 1o ail cliizens, carefully guarded by natlonal legislation, which makes tho bill-holder more mecnre than any banking system tnia country has cyor kuown, and which greatly imcreases the secanty of deposttors, The people ‘must choose betwween tuls national syatom and the old Stgte system, which, in other years, led the country 1o anch fatal results, Who does not remember that the old State banks represented all varieties of condition and credit. They wers wolvent, suspended, closed, wound up, broken, aa the wisdom oy folly, tho h nmy«:r rascality of thelr managers diciated. ol nole: had no uniformity of value,an y apceiolly of the West and Sout! ot 8 when carried boyundd the limits of which they wera issued, Exsmine a k-note rcporter for 1806, and conslder tho of trash that conetituted the cusrency of the ouniry. Inonly nina States of the Union did the 1aw require (hié circniation 16 ho decured by State bonds, From 1851 to 1804 there wers cighty-nine falluren of Ililnoig banks, Within that perfod the holders of 1ilinola corrency lost 83, 000, I;Ofl Ly the faltures and gepreciation of ‘tha nutes, hosidea the atil groator luad Lo dopusitors and.customers, Of hirty-cix bioken oanks of Wisconsin duriog tho same period only #ix redeemed iheir notes at so high a rate as 80 centaon the dollar, Even in 1660 the report of eiglitocn States showad tiat out al 1 bonks, 147 wore broken, 234 were cloacd, and 131 wera nearly worthless, Firth—A fatA] aujection to tho subetitation of greenbacks for National-Bank notes {s this, that it makos o complete divorce betweon the buniaess of the country und the volumo of [ta circulating mo- diam. Now, under free Lanking, the volume will Incivaso or disiiniah accoruing to tho: domands ot busluess. Under tho oroposed system of lssuing all our paper money directly trom the ‘Troasury, ric [ 2! = the volume must dépend upon the uncertain cap: of Cungress, There never was and nover will b Leuialatare wire enough to fix by any arbiteary rule the proper volume of_clrculation. * What may bo sufficient for ono month may be inaufliciens or too great for the next. Tha fickle and chaugin, oplniona of Congreas are an_unsafs busts on which to reguiate the volume of all business trunsactions of tho coyutry, From tho ! t0-day on thia question, Toppeal to the ‘Khurman of March, 1874, when in the Senate he uttered thcse brave and earncet words: ¥ T we breprred Lo declare ;hll under & Government. wiicl our fathers wieant, It tlivy weais wnything, shonld be & Lard-motey tloverument, bus which nai drified & long way frous their futontlon, do we now, st all fho lights of experience tho world uver, nean Lo banlsh goid and ailver {rum olrcalation in the enuni(ry TUF all Lo to come, aud 40 tho busiuess of tha buslneds of ihe coudtry itpon nathing Bt Iredvemabio apEr, desemuding far 445 colunie unon ha iwill and ke wiomenty nr uin 1he © 41cs Of meinbers Hing bé-cleckion o aapiriog 1o bighes 1ot Finully, to wnko resumption donbly impossible tho Uhio Democracy dencuucs that nol(czafl [ tiovernment which pruvides fora coin reaerve 24 Lo marntain resuption, and they do this In the. face of the fuct Uhat their lant Natlonal Conven: tion condemned the Stovublican party for nat hay- ing provided a reservo of coin lfllull tha uay of resutuption, This talk in their platform ‘and speechies about keeping paper and colu in egual cireulation througnout the conntry in an insuft to tho intelitzence nf onr wn,:ll: fur they proposs fo tuke uway tho only weaus by which the coms suall Lo supplicd and by which the paper sball bo kept at pars TIIE KEPUNLICANS AND NESUMPTION, For myself, sud I bulicye [ speak for the great majority of the Republlean party, we tutend tu tako no-backward sten, We prapuse to stend by the promiee of the Giavernment, aud protuct the tavoror and caplialist from further fincmnnrun anu ‘Tho e trredecmanta paper euccency. d the grerntack i FOOND 10 Watu hreatened by the dapzerous and reckloes Dionslrp of iis lule euvmy TANANESS OF WIS CAMPAION, Spaciat Dipalich (0 Tha Tridune. New York, Aug. 20.~In Boston ft {s under- staoil that Butler will this week publish a lotter Continued on Fifth Tans, KINGSFORD'S DSWEGD STARCH IN NEW WRAPPERS. Bright and Handsoroe Shelf Goods, Aud the very BEST BTARCH wanutaetured, Always uniform in quality, Pleases Famities aud Laundry ;Wowen eveyy tjme, b ¢ & Y KINGSFORD'S ' CORN.STARCH, = . FOR THE TABLE,. ° Is the ‘Most: Delicious of All E Proparations. - : TEip “ Paddings, Blanc-Mange, Cake, et SOLD BY ALL GROCERS. — n@hn’ki‘}‘i’;{m&h;l‘ o FROM THEE Hon. Thurlow Weeg, Indorsing Dr. Radway's R. R, R, Remnedies A7, i ter Using them for Severul Yemrs, ¢ Nrw Tonr, J Tear Sir: TIaving for seversi years vt your o clncs, doubtingig at frat, but cricheing o erticacy with fuil cuntidence, it hrir iy 1o thankfnity scknowie have dertred from tem, . The ta name, We ARDIY tho Hiniment freq, 10 Trecty: mmoat DvaEmbly Bnding the oty Tlatiet g Lriy yuurs (Blged) e Kivwar. Lix. edp HURLOW WEED, - R.R.R. DYSENTERY, DIARRAEA, CHOLERA MORBUS, YLVER A¥D Xl CURED AND PREVENTED DY RADWAY’S READY RELIEF, RHEUMATISM, NEURALGIA, DIPHTHERIA, INFLUENZA, SORE THROAT, DIFFIOULT BREATHING RELIRVED IN A FEW MINUTES 3 «BY RADWAY’S READY RELIEF, BOWEL COMPLATNTS, Tooseness, Diarrhers, Chotera Moybus, or paintul gir. ehargcs fram the bowels are aapped i d ;{‘mmum"x taiing s “5";: e X e or Infiammation, s or 1 Toliow the usa of the 1. i Teel, RADWAY'S READY RELIEF CURES TNE WORST PAINS In from One to Twenty Minutes, NOT ONE HQUR After Roading this Advertisement need any ono Buffer with Pain, RADWAY'S READY RELIER 18A CURE FOR EVERY PALN, It was tha Sirst and ta tho ONLY PAIN REMEDY tastantly stops the most excruciating patas, al. e nllum::‘lllunb:n‘tfiatn.rel Cbi’l‘;.:hfl?l\ \.ll' hetner of . ungw, Bimuch, Boweis or o ands or by otis application, i b In from Que to Tweaty Minutes, ‘Ko matter how violent or excruciating the Rflln. the Tieumatie Hea-ridden, Intrn, | Cripplod. ervol Neuralgic, oF BrovrALed with dikeasd may sater, RADWAT'S READY RELIEF WILL . AFFORD INSTANT EASE, Inflammation of the Kidueys, Inflammation of tho Bladder, Inflammation of the Bowels, Congestion of the Lungs, Bore Throat, Difiicull Breathing, Palpitation of the leart Hysterics, Croup, Diphtherin, Catarrh, Influenza, Headache, Toothacho, Nearalgis, Cold Chills, Ague Rheumatism, Chills, 4 Chilblains, and Frost Bites “The aprlleation of the Taady Tielief to the partor mfi&:fifi' o palo or dificuity exisia will alford cam “Thirty toalxty drops in half s tumbler of water wfil 1n 8 few minutes curo Cramips, Spasma. Sour stomach, Ucanbvra, Sick Mesdicne. Dlarrnirs, Dysentery, Colie, Wind i the Bowels, and all Luternal Pal irazslers siould alwasacarry abottio of TAUWAS TEADY HELIEF with them.” A fow dropa In water Tl prevent sicknem or jiaing frau) chango of waler: Jt1aBester than Freach lraudy or Slttera a1'8 sfiau- FEVER AND AGUE. FEVER AND AGUE cured for fifty cents, There s hova remediat agent I0 Giig world that will care Fever and Ague, and ail other Malarious, Nilious. Sear phofd, Yellow, and ather Fevers (aided by’ lla), 46 quickly na KADWAY'S KEADY ey cents pes bottios DR. RADWAY'S Sarsaparillian - Resolvent, THE GREAT BLOOD PURIFIER, FOR T} CURE OF CHIRONIC DISEASE, SCRO¥ULA OR h\'l-llu.l'rlxg. JEREDITARY OR L CONTAUIOU BEIT SEATED INS‘H IE Lunge or Rtouutl, Hiin or Bones, Flesh or « CORRUPTING THE SOLAUS AND VITIATING TIR FLUIDS, Chronlc Rheumatian, Karofula, Glandutar Bwellin; i AR i e T A e Campiufats, Bl u Shepaia, Wal Hrabeto Daloread s Weita Swellthge famore. L e bt aull WD Dlseasin, ' sidrcurlal Didosacs, Fo- Thats Complainta Couty DIOGRY, past Rueuus Brok chitls, Cousumy tion, Liver Complaint, &c. Notanly does the Sarapartttas Resolrent oxcel af reucdial ugents fn the cura of Chruoic. serfuiout Coustitutlunal, and biln Diveasos, but it 1s the ouly pusitive cura for KIDXEY IU\'D DLADDER COMPLAINTS, Urtnary and W¢ mh Discases, Gravel, Disbetes, Drovey, Bloviuite, o Water, lucunfiucice of Lrins, iriutt Discase, Albnrainurls, snd 10 3il cases whera theru are ety tbe water 14 thick, "cloudy, Wit bl ataiees K6 the whi il atancen ke tho whito f b Go: Threads 11ko w bita. silke or thers fs 8 norblds Gar Wilous ANDrarace. and white Luge-dast deposlt wh Tl waters anc Aaihs i 1o sull e Lg SACK Ak Flonsd T, B0t P i 1o Al Lhe LACK A ploly B ULy i Ut gl sul R OVARIAN TUMOR OF TEN YEARS GROWTH CURED ByDr.RADWAY'S REMEDIES. DR, RADWAY & C0,, 82 Warren-st., DR. RADWAY'S REGULATING PILLS, Perfectly taataeu, eloguntiy coated with sweet guci. xe, regulaly, puglly. cicduse, wnd streq) by's LUK, for” 1La cars o disorders uf 1Le a Inddur, K Loy eatlon, Dy ot llm"luw L‘ ¢ Al Kiuoys, Terudl Viscera Warra.ted 0 efieck u posftive cure. Iirely vegetasle, contidulag uo mercury, mineral ur Sleturious dru: . ST voEs fullowing sywmptoma resuluog trom bordare of s Diesive Grganr e Coartigation. Tuwud Plles, s of the Diood In tueiead, Act iy of the tomtch, Nauscs, Heartbure Ahisiust of Foo a“the Biom: ‘batr Bructatiow, Mavfigs o o the bit uf » o urried et Hcart, Cooktuk (OF Buitocati 'aiiug posture. Tt or Webs Befura tbe 85 cr ang ¢l Pam 1a {iNe liead. Deniieaty of B fon: Vellowaess uf Illb;o‘ 1.:“‘“5]', aln ’llm * ‘ghtu.“l:mhuul suldgn Hiusbenni Yea oy I 1he ¥ v dores by Ul IR et the erstem frum wll of t3e sbove-uamed dlsorders. Frict, 5 cEuth o7 box. 50Id by Driggietss ‘ 1 | mBAD ; “ dlse and True.”’ Sead .’n‘uw'num)wBADIAtcco.. No., 33 Wt P S i enonasada will be sest Tou