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can party, and that we were Into & THE PRESIDENCY. consol Mice iary depatany ftenined fo R= Before the | CFcHY the opposite direction. ‘There must be fear Address of Ex«Minister Motley of Irhere the surface is so broad, the Parker Fraternity of Boston. population relatively so , and the engi of John Lothrop Motley, of Boston, until ort time Fepression and conconteasiog, ‘except ns Sonera te aince United States Minister to Bearer nennene tice gun nw Hider ‘vo, haa nowa, al along ths dress very Was the moat potent of dissolvents pap choaagac enn ayer) polities! organiams. could not but act the same on public affairs before the Parker Fraternity of Boston, and his engagement was fulfilled last even- ing in the presence of a large, appreciative and it pare our polity, and the masa of the 1 North, South, Hast and West had for; rationelong been responsible for the evil and for its continuance, ¢ ai ears the bale‘ul potson had been work: Ud- gomewhat entiusiastic audience. Mr. Motley, it will tir eoehout @ creat an Of the couater If bed tge well remembered, resigned his position a8 repre- | eaten out that respect for nati ity which is the gontative of the American government to Austria | most pebieand. rial ous of ony g r epee pt e, ai associated humanity, an’ charac’ lo gome months since, aud during the Interval up to | Sporawee ohtenoch tn the world’s history. ADA at ‘Fhe present time he has been spending his leisure moments in comparative quiet at his home, on Park street, Boston. Notwithstanding he has been in the public service for upwards of 81x years, this has been the firat politieg! address of his life, and in this maiden effort he has treated with remarkable ability and eloquence the ‘four questions for the people at the Presidential election,” and his reasons for the elec- tion of Grant and Colfax will undoubtedly be met by tho popular approval of the majority of those who exercise ileir right of suffrage in benaifof the nom!- nees of the republican party, Mr. Motley, in beginning his address, claimed that tt was certuinly the duty of every good citizen to ex- amine for himself the questions at issue, when & configs like tus 18 shaking half a continent apd 1s to be decicied between the rising and setting of the sun ona day rapidly approaching, And it seemed equally his duly, alter haviug thoroughly satisfied himself upon the werlis oi th at debate, to do what in hin lies for the furtherance of that which | teves te right. re had been impor- pais iu buis conniry during the brief three last the outbreak came, The siave power, the most distinctly marked oligarchy ever known to A, planied liself squarcly across the track of the great democratic principle to which this Union owes tho breath of life, State sovereignty, from @ harmless und bombastic phrase, seemed to become for @ tine amon formidabte facts ar, ¥ was mae iit a ot ate sovereignty e oligare! autl-republi- can principle of slavery disguised itself for the struz- gle so long impending. The attempt to destroy the mild and beneficent Union fo order to extend and perpetuate human slavery, was by one of the most terrible mockeries ever concvived of declare to be an uprising for liberty against tyranny, The spirit of liberty was never so strangely travestied before as when it Was made to BE ‘and to consecrate that confederacy, bulit according to those awful words which will forever remain — historical, upon the corner stone which the builders re- jected, the corner stone of negro slavery. The effort to destroy the Union was serious ‘enongh, Heaven knows. Never did human beings, in the holiest cause, display more brilliant courage, energy, endurance, pationce, fanatical self-sacrifice than the rebels in thelr mad sti ie against the inexorabie law, But the world has found ont at last whether this is a nation or pot; whether the central govern- ment can protect itself or not against a serious effort to destroy it; whether the American people will acquiesce or not In their political dissolution; whether the great republic will lie down to die like a lainb as soon as the knife is flourished at its throat. Per- haps it needed this spasm, thia sudden apparition of politica: death, to reveal to the peopie the depth tant elec quarters of a century which comprehended the whole of our nation 1 ie—that turbutant, full-throbbiag, nut tite, the Ike of which the worid juro aad which had something appal-; strepgti, Ii, he added, so brief span ed to place America in | of ‘their national sentiment, the strength of their the fore rank of the great nations of | attachment to the Union. No effort more serious husiory, \ ‘s sie to be in the fulness of her power, | than the great rebellion is likely to be made again When ceuiuries, wieh are io a nation what years | to destroy the central governinent; yet the are to the iudividaal, shall Lave brought her to | yery qualities whieh our late ‘misguided matariiy? Oa us to whom ia our generation is | enemics, nm to become our fellow citizens, commities the F entavion of all this stupendous | naye imanigsted in the cause of slavery, Vitality doo {le hour attotted tor the playing | give us the right to hope for a prouder and more of our parts Upon tus earth, how desp Is the re- | prosperous future than has ever been granted to any sibi li eve LO aced in tie ant, tha in our day ut least the repabitc iment! He thon asserted tat he duference of opinion on many im- yes, but there were nevertheless great 1 Which it was dicult to comprehend a dif- political community. The growth of great empires, whether republics or monarchies, is slow. Yeara are much to the individual mortal, bat man is the master of time. If not in our geaeration, assureily at no very distant epoch the race which has been foremost to destroy this Union will be eager to de- fend it should it ever be unjustly assailed. So long ag itis true to its natal principic and to the law of TEC ld never, he added, place himself on the same port oi v.cw, moral or political, with taose | Who tly v slavery other than a misfortune | jig being, that all men are created froo and equal and a foomed to lilin, in tie | and endowed by their Creator with inatlenavie Words of our great Magistrate and martyr, that if | rights, so long will this Union protect itself, 1t is Slavery be not wrong, nothing 1s wrong. It was | almost omnipotent in the cause of right. A cause of cr ard jor Lim to understand how any | wrong would “sit upon its arm and make it power- wish 10 degrade thls majestic Union, | jess.” It cannot oppress 80 long as the general dif- “fusion of education and inteiligence amony the peo- pie insures a constant and jealous scratiny of all its procecdings. Nor do I deprecate the cry of danger Kom consolidation, although I have no sympathy with It, from absorption of power by this or that branch of the general goveroment, ‘ternal vigi- lance,” said Jefferson, ‘is the price of liberty.” Let us continue to watch carefuily the course of the gen- erai government, We have all of us eyes and voices this gover poiitic eu OY POP awl to tie oaly as; iLO & Sy: Wluch for # timo seemed to sinike people, emerging victorious from its With the dritish r ¥ t ernment, vith para- | and votes, and if the administration becomes really lyst, out of wiica our tach in ’s¥ rescuod us by | tyranuical in its tendencies, let us choose a better tio givrous Nat‘onal Constivution; the system which | one, dette ba ‘ud hs followers had the madness Anda now let us look at the pretensions and princi- bo hink stronger tuan the American Union, because | ples of the two partics nad thelr candidates, iu favor slavery had breathed into i the Yet this 13 really the ques- 8 tissue, Some of us thougiit it settled by me great four years’ agony, But when we thouglit the subtle aud dangerous terre g forever destroyed, behotd tb coliug itself, wounded but not killed, an r 5 Laveutenmg and venomous head, ab peer wud Lal Let us deal with tt once lar condemnation be set ‘eanation. We are This government, which pro- sthe lumbiest as well as the Us, ile seat of whose of ove or the other of whom our votes are to be cast 80 acon What are the issues of this Presidential ition elect We are called on to decide— 1, Whether the will of the American people, con- stitutionally expressed, is the law of the land t 2. Whether, in the Uniied States, all mon are en- dowed with ogual ra 3 Whether it is just and reasonable to pay our debts or to repudiate thom ? 4. Whether economy and constitutional purtt, of administration will, on the whole, be best secured by the election of Mr. Seymour’ or of General tal dite. forall. Le it, nOW Co ye 4 ; jeg eg ae BM Grant ? individual of us ¢ ly withiu its carefully limited Hav ounded the forego juestions, Mr. it maxes supreme laws which no man dares motley preoseled to answer them rey piliceras-” e 18 nothing but chaos’ Whenever we ape trom fis all-embractng folds. Ever since we, the people of the United States, eighty years aso, uid down the constitution as the basis of Our poutical fabric, up to tus hour, there has been ho suprem law other than tue wil of the people as land 2, Now we know that there stand on the statute book certain acts, familiarly called the re- construction laws, For thing um my knowl a they are as binding laws, in as full force over the good people of the country, from the President down to the humblest day Jaborer, as eny other expressed accordiug to Lie rules therela prescribed. | laws on the statute book, whether passed at the He was not situd, ie never bad boon afraid of being | beginning of last year or ab the end of last century. deprived of his state rights. Hut unless the experi- | We are ail of us more or less familiar with the gene- eace of the lust quarter ol a century, followed by the | sis of those statutes, and know that they have been most tr pus rebellion against constituted popu- | the cause of flerce dispute between the executive and lar auihodiy ever waged, to go for absolnicly Nothiag, we have ali had cause enough to fear the Joss of our national rights. Yet atter all, he added, BuUppose (uc LNion gone, the United States abolished tmstead of slay. SuUll We had our sacted State rights to fail back upon, Massachusetts was “sovereign and indepeadcav” still, and Rhode island or Delaw: each with its own tivets and aviuies, might defy ail the powers of the world. ile could comprehend the legislative branches of tho general government, aud that they were enacted by extraordinary majorities: of both houses over the President's veto, But at any rate nor yd the law of the land by the will of a majority of the American people. 1 know no way of learning that will or of discovering whether there has been a change in that will, except through the votes of this Congress or its successor. Meantime they have been passed soommne > constitutional word “allegiance,” although this also haa ateudal, | forms and have not yet been repe: But we are in- personal twang not very grateful to his American | formed on the high authority of a convention chosen ®ar, bus he could comprehend it ouly in its national | by a very large ion of the voters of this country application, He could swear allegiance, sacred fen!- | that these laws are unconatitutional, revolutionary ty to the great Union of which he had the honor to | and —_ and that Seer prnceasinees @ flagrant usur- be a citizen, whica oppressed him never, but wihica | pation of @ power which can find no warrant In the is always ready to protect him against a world in | constitution. We can ail read the constitution. We can arms; but blind fealiy to the bones.s of a State, toa | all read the statute book, and I for one have done ny corporat on witch long ago parted voluntarily and | best to understand why those laws are In violation wisely wii ali the essential atiributes of what ts | of the constitnuon. Most certainly the constitution callod sovereignty im ordex to help create a higher | per tat members of the national House of organis suet allegiance was as lacompretensibie epresentatives shall be elected in the several States M as ailegianee to his school district or to the | by those qualified to vote for members of the ra where he Bapened, to reside, He found | most numerous branch of the State Lozislature. i tho necessary Functions of local seif-govera- | But the denouncers of the Reconstruction laws—the sucnt—iegialatve, judicial, adiministrative—had | stern defenders of the coustituiion—seem to have been carcfuly reserved and kept out of the | forgotien one little fact, a mere trifle, which has sphere of the general government, and he knew | naturally slipped their memory—namely, that there that government to already #0 CT ear has been a war-—that the States, now so crucily op. 7 as in with ual functions which it must Mischa pressed, as it is charged, were four years lot to have smail leisure for absorbing into ftself those | armed rebellion, wiich dt has cost haifa miilion loce! powers Which are necessary tothe autonomy | of lives and exactly $4,000,000,000 to sub- of the state and the municipality. Giving vent toa Iittie natura! Massachusetts pride the speaker said that it was onty for the sake of pointing the mora! of this adress that he had called their attention to the Wf State sovereignitics, State pride, Stace hts are suhjcoets of anx , we of Mas, sets have as tach mierest in the mat- ter as others, Our adeotions, our devotion, our closest sy uipathies, our warmest and dearest metao- rics are with the State of our birth or our choice, inose duty aa citizens 13 to that great without which that which we so proudly rSéate could pot extet in safety an hour, nbiucs of antiqnity offer bat httle tenes | system, for they were all developinents, greater or gigantic, of the munic —conquering, i mislt be, other cities, kin doms, nations, but remaining a city ell because it was an oFergrown city, dne, and that it is the special attribute of the na- tional legislature, now that the rebellion has desisted from organized hostiilttea, to lay down the terms of » Because that legislature, im tts discretion, Wishes to take what it believes to bo necessary security for the future, in order that ail this bloody and expensive work be not repewed at sume con- F sald to be lity of un > a venient opportanity, it ralcled oppreasion, of having established milt- ty deapotisin together with a curious kind of inst!- tation called ‘o snpremacy. Now, if the national legislature ‘no right to prescribe the conditions on which the States lately in rebettioa should be per- mitted to resume those practical relations with the Untoa whieh they had #0 scornfoliy broken off, as they tended forever, wince was the power de- rived by which the suppression of the rebellion has heen carried on 10 {ts Conclusion? it was said, authoritatively if not wisely, at the outbreak of the revellion, that the right of coercion by tae centrat woverament did not exist, aud that nothing was iaore strictly according to law tian fore sovereign and independent Siute to secede from this Uniqn according to pleasure. It is now claimed that it has tie right to come back again at its pleasure. W: sy ome Prov. with With eighty mtlions of subjects, and because human slavery bal caten out its very heart; because forty of its heterogeneous popuiation were slaves, und sold Lke otuer merchandise; because e Was no parliamentary representation of the ianititudes of foreigners whom her legions had miiltious bough subdued and which she kept im abject servitude | the people of th United States found tn the consti until the slaves rose at last upon the haughty and | tution all that was necessary to give a practical most wicked cily, and tore her tw pieces and the | refutation of the docirine of secession, and ia, iro with her. Does any men sappose, if her rats and republicans, individasily’ and 8 aves had been stem of popular by speech, vote and on the and egiat e citizens of all , Kloot shoulder to shoulder, proving at world-wide domain | in the most decided w: least may be con- | their convictions—by ng for them—that the y | believed this Union te ® govoroment; that it I derived from ts fundamental law lald down i 1789 legitimate source of govern- ui—ail (he powers necessary for itt deace and votect itself when assailed, Wi this nation born, When it expanded, by force of that consti nm, from the cltysals of a confederacy into an Organized commonvwealth—a nation among the na- tions—it stepped at once into the full fruition of all the necessary functions of a hatio The right and the means were fovnd in the constitution to raise great armies, to levy enormous sutns, to suspend the action of the laws why aed necessary by those which men c#a prove hich at ration—and if dian idee by Wa pire, from its t have fallen Co pleves of its own is ou.y modern seienco— in the application y o8 aginst dis labor-saving in Of po ended republtg lar represen tatioa, such ®@ Wii world be tupossible, and i ie our duty to guard | to whom authority was freely delegated, to set up 3 to decentralization and over- | railitary governments in rebel territory as fast as ation by perfecting us iar os poss ble our rep. | occupied, and to make laws for the whoie country iiative system, Nor did t vast emplre of | trough a body in which there were many perman- Chariemegue, when his seeptre stretched orc: almost | ently vacant seata, We know that by the act of those ail Korope, fall from consolidation, but from exaetly | who hated the Union and the constitution, and were the opposite cause—the centrifugal principal. That | domg their best to make both go down tn biood, we Beoptre broke on the hands of his imbecile successors, | had all been placed in an abnormal condition. To sup- because ja (he state of the world then existing it | pose thut In such extraordinary tines tho regular ac- ‘War Impossiile to mieke It felt at a distance, aud be- | Hon of government could go on as fa time of profound eaase sovely, perhaps, lacking the modern and in- | peace, was a doctrine believed in by fow who Vaidavie invention of popular representation, besid: were not at heart with the rebellion, ‘This extra- alt r physical divcuveries and anprovements, | ordmary machinery—inuch of it very hateful, no led ne vation Lotore etyiiizetion could | doubt—was necessary for the national existence. y onl in detached groupings. | The constitution secures to the republic the rights of fie could understand the cry azatnat centralization | war and peace and all the incidents thereof, ‘the in such @ counttyms Frenee, where diy national ter: | laws of nature and of nations underiie ail written ritory Is less (hap the area of ile cingle State of | codes and constitutions, and are the common pro- us, and Where te povuiation, energetic, Inven- | perty of mankind. That great law of ctvilizaioa—the Uve, laborious, trifiy, Is wearily us numerous as that.| safety of the people is the supreme law—salers populé Of our whole Uulons where the Lo system of ros | supreme lef—& maxim most salutary, most liable to e | Presevtaiion as we understand si, where public Mneevings for political discussion, such as Wo ure hoidiug now, are a crime; Where a military gover ment, supported by twelve hundred the mad of Courageous, perfectly disciplined and experienced Roldiery as eVery existed in the world, holus ail tie legislative, executive, juticial, finencial, aduinisira- tive factions of the nation in the h W of its band and where the press aud public speech are under tron control, But the cry shonid point to the danger. In the abuse, yet never less abused than in its eee during this rebeliion—belongs to our body of jaws as | as much ag if it had been formally enacted and | bound up in the statute book. It is part of our con- ‘trution, and of every constitution, and can be no more taken from vs than a living man’s heart can be taken from bia body, If the legisiation in regard lo the securities taken from the seceeding States Previous to the resumption of tutir ancient relations | tra 16 Unt be unconstitutional and fe agate | yHvKOt i tess liborty of the press and of public meetings, with | and without whien the Union must have succumbed, @ Congress elected every two years and a Presideut | It was not necess: ty ‘outside the constitution every four, With aaianding army before the rebel- | to repress insur ton hor is it necessary to go only equalin number to the army of Hease- | out 1 to find the Hise vtiiftecn tousand of then offices privaces, | Azeinat ite renewal titi e fonee eohneh San to vor: musicians, pjoneers and all—and not four tunes that | titow the government has been exerted the right number now, with a dozen stump speakers Pie © pywer of the uation to exist remain, and it in every school district, with a newapaper nat eee paces of the means to make tat right @ militia gonerat in every village, | valid. The fegai coutupuity of the ancient relations # domain of 3,000,000 of square miles—as large | botween tie seceding states and the Union has been as Euro) 0—capable of ae ting the whole | pk pn by their volt § Whey have not triumphed population of this giolt, snonld bé | in the sevugale itis tick for dela Wut for the nation, ‘as closely a9 the Reiginna at this moment, | Speaking trough a majority of its legisiavure, to pre: 404 now sparsely inhabited by less than 40,000,009, | scribe the terms of rene wak, 4 all wide awake Ww their rights, whether municipal, Upon the general principe that the governmont eg tetes, and ready to stand up for them to 8 Crack of doom; he could not feel that our liber- ties were in much danger from the natioual repabil eappearauce after it8 Miltary power has nm broken in the deld; the re ~estavitsiment of NEW YORK HERALD , WEDNESDAY, OUTOBER 21, 1868.—TRIPLE SHEET. i 3 z i i : 4 5 BEE att & ie 5 ES € i) 5 5 nob: desire of vel nee who have fought so bravely in Gefenoe of bad, would be a disgrace to the American e shali be att Americans at some fu- and the citizeus of the tately rebellious States will, in the next generation per! , be in- spired by the same haughty but. itimate pride of Daw erate now swells the breasis of those Who dweil in te tree aad loyal States, and the sane energy Which as done tts best todestoy may he!p to preserve the iife of the republic, 1, for one, would of relinquisi: the glorious lope of a free, united aud ternal population over the whole suriace of these United states for the most golden visions of auy Separate eiupire. But even if the reconstruction Jaws are constitutional, ere they expedient? We are told that tue secedimy >tates are treated with cruelty; that in time of provound peavethoy are subjected to military despotism and negro supremacy. ‘The party now in power is arraigned for its bareer of ui- paralicled oppression and tyranny during and since the rebellion. Unparaileled tyranny! Will yousearch the records of all the civil Wars ever waged upon this piauet and find me one solitary, remote paralic! to tne extraordinary lenity manifestea by the con- “querors in this civil war? Will you go back to re- publicaa Kou aud tell me of the career of alter- nately dominating parties m her civil wars? Will ‘ou read of the wholesale massacres of Marius when is party was upperaost, ihe blood-dripping edicts of the triumphant sya, in bis turn dooming tae imen of the vanquished party to death—so:dicrs, citizens and ail—faster than he could remember their names, killing thein by hundreds and thou- sands irat and recordiag judgment against them alterwards as fast a3 he cold reoali them or get them recaiied to his memory? Wiil you remember how the triumyirs, dividing the world’s empire, met together over a table, ard in one evening sentenced tweaty-taree hundred Roman citizens to death and on the following day, murdered ten times the num- ber? Think of the head of the mangied Vicero, ¢ posed in the foram, wiich had so often rung to lus lupassioned oratory, with his amputated hands Placed in hideous mockery of rhetorical gesture he- neath, and with Foivia’a needle thrast through ihat tongue which even now atier nivetoen conturies suill euthrals the civilized world with its cloquence! ‘Turn to the civil and religious wars which desolated Frauce for nearly the wiiole of the sixteenth century, and count the thousand and ten thousand coid- blooded massacres, executions, conti: scriptions, which reduced the coun ness and the population to panperism from gen tion to generation. Look at the blood-stained soul of the Netherlands during their civil wars and re lions, with the hangings, beheadings, drowning burnings alive and buryings alive by whole tow fuls—otion eight hundred and a thousand dally vi tis authentically recorded—to tie deliberaic sen- tence to death of the whole population of the country by the dominant party; to the confiscation not of an estate, here and there of the rebels, but of whole provinces at aswoop. Recal that hideous civil war wiieh-con- verted Germany—then the most civilised region of Europe—inte a Pandemonium for thirty miserable years; when deeds of flendish oppression and cra- elty, such as the human mind can scarcely conceiv of except in delirtum, were of almost dally oo rence, us one party or the other gamed the ascen- dancy, Kemember the wars of the Roses in England, annihilating races, decimating counties over and over again With their massacres, their proscriptions: and executions, their attatnders of the blood, merim- aE BEE Ea tnating and Lopoverisuing generations yet unborn. ‘Think of Jeffries’ bloody assize! Pause upon the ‘Thames beneath the Traitor’s Gate, and listen to the groans still sounding through the black past from the “Tower of Juling, England's Hels | shame.” ‘Think of the grinning skulls once decorating Temple Bar in Fleet street and the Tolbooth in Fdinburg, Listen to the eternal sighs from tue famous bridge In the fall throng of what was once the most powerful republic in the world. Or if you think these are too distant and imagine the world grown too merciful to oifer a parallel to republican tyranny and oppression here, cast a glance at the deeds of revolutionary France, and shudder at hideous images of massacre and mur- der in every imaginable shape, of confiscation and desolation to more than conceivable extent, Recall the oppression which marked the career of the Brit- ish Kast India Company tn the Kast; the tyranny and extortion by which vast populations were goaded almost daily into rebellion against their foreign conquerora, and the frighiful proseription and robberies when those rebellions were snp- pressed; think of whole kingdoms of great exten Sncient civilization, enormous wealth, literally pu up at public auction and knocked down for a song to a few needy adventurers, a proscription so gigantic and so universal that, in the words of Engiand’s greatest orator it stands forever “as a monument to astonish the imagination an‘ confound the reason of mankind.” Sup full of horrors like these with which the history of civil war in every age and land is crammed, and then turn io this country, stilt heay- ing with the convuisions of war, disbanding its million soldiers ag soon as the rebel sword was sheathed; look in vain for a cog execution, fyr confscations or attainders; behold the very head and frout of the rebellion, Jeiferson Davis himselt, generously re- Jeased upon batl bond, aud now the 4 Of nobles in England; look at the generalissino of the rebel armies peacefully engaged in the instruction of youth in the academic shades of Virginia, and hailed by a Union general and ambassador as “a represen- tative man in reverence and regard for the Upton, the constitution and the welfare of the country.’ for one, am pronder as an American of the in- stantancous disvanding of our victorious hosts when their work was dono than [ wasof thelr assem- blag with such unexampled patriotism when the Union was assailed, More than all ts it grarifylog to every patriot heart that there haa been no imitation here vi that foul vengeance upon the vanquished which has stained the concinsion of every civil war except our own with the indelible marks of useless bloodshed. The word universal amnesty is twemb- ling on every lip throughout the country, and must soon Le spoken; but prudence, honor, justice require that with that beneficent word should be couple partial suffrage ond irrevocable guarantees of rights, ‘This ts not the time to examine the suffrage from an a priori poiut of view. The right to cast a vote should entail upon its possessor ule corresponding duty of understanding the subject voted upon, and an educational sult fora whole population, Whatever its colors, would perhaps be the most reasonable condition, But [ doabt whether in present clrenmstances any better way of protect- the freedman in his civil rights cau be round than by giving him the vote. The end justifies the means. To refuse the franchise to a man not beeause he is ignorant, but because he Is black seems to me #% preposterous us to deny it to him because he is not six feet high. As to what is called negro supremacy I confess this to be a subject beyond my comprehension. I suspect inat the consummate politicians of the seceding States witt find even less difficulty in mm aha the negro vote of the South than they did for thirty years or mors in controlling the majority of white voters of the North. Negro supremacy may be a od phrase to conjure with mn these regions, bat I doubt whether the white citizens of the siave States atied by the sound. We are told tt people are not hostile to the negro t oppress them if they had the power i they have grown up among the wi been accustomed to look upon them with Kindness.” So much the better, Now, that Kindness to the negro ts to be manifested in some beter ways than by holding him tn perpetual slavery, by seliing bis wife and children before his eyes, by tracking his ve stens bloodhounds, by refusing is testimony im courts of jastes, by depriving lum of every right of @ liuman creature, it ia perfectly possibile that better relations between employer and laborer may ere long be established, But f doubt Whether any one serivusly expects that the negro will obtain political or intellectual supremacy in auy part of this continent; or that the Caucasian race anywhere needs divcriminating legislation in its favor to prevent it from lapsing ito subjection to the African. If we can protect these un/ortunates, Who lave ever trusted a8, and whose hopes of dellr- auce have ever pointed to the north star, against tho poseibility of falling into some kind of bondage and disability again; if We ean give the means of seit. tection by putting the bailot im their hand, it t« as much a4 we can expect at present. But beyond that unequivocal expression of the democratic dog im regard to the reconsiruction laws, we leara on highest anthority the practical purpose of that party, } should they succeed at the election. This purpose, | so far as can undersiand tho Kuglish language, seems to be a renewal of the war. ‘The democratic candidate for the Vice Presidency is a distin. wished leader in the Unioa is indellibly associated with some of the most Mustrions campaigas, hardest fought batties, tri- umphant marches of the war, Throngnont the tine mal uestion | ba the: titution that the President is to may suppress tasurrection it may prevent the dan: | tows, fl picturesque anc brillant manouvres and desperate assaulis of the memorable siege of Vicksburg, on the world-famous march of Sherman to the sea, the name of General Blair is conspicuous and histort- cal. No man in this country, whose goverament he has helped maintain against armed rebellion, would plack a single leat from his laureia, But he is a can- didate for the second office, and may, if elected. suc- ceed to the Arst. And how does this eminent citizen expound to us the duties of the next President? He tells us that his foremost duty wiil be to mutilate the statute book, to defy the law of the land, to trample into the dust the reconstruction lawe. As the Senate in any event must remain republican, and therefore opposed to the a a of these inwa, that repeal mast be effected, 1 spite of the Benate, by Bxecutive au- thority, The army is to be “compelled” to undo ite usurpation’. ‘The Senate isto be “compelled,” by the ration of the President, to submit once more to tie obligations of the constivution, The President, being sworn to inaintain the con- hat series of Col will, it isdeciared, fail of his duty if he a constitution to perish under essional enactments which ai tion of ita fundamental principt come to this? These United States of America, after Superoesing. @ gigaatic rebellion rainst the law, are not a government of laws after but a government of force. fhe army ia to be “compelled,” the Senate is to be “compelled”? and the ed into te of Congress are to be “tra dust.” By whom? By the democratte President, should we be 60 unfortunate as to elect hii, ‘he President is sworn to maintain the conatitution, bat he is also sworn faithfully to execute the office of President, foremost among the ‘unetions of which ‘are to take care that the laws are faithiuly executed, Those laws, | sappost, fre ad i canes written yy cal jut upon you and me, an bay A) ine jaws, if in his wisdom he thinks tem not made in pnrsvencest the constitut on; that be is ty be poh executive and jndge, and ‘ine every law is to be en with | armies, His mame | forced or trampled upon according Kua how if the Senate will not be pee, ? How if the army will not be compelled? Sencampel. to be met b; sion mean anything but force, @ much greater foreo? Ia that but civil war again, and # bloodier one than before? Vaz victis!—woe to the vangi '—that most of sentiments, has no piace in American but the Lumense nature maniics' ited fitgeonee to the 35. Until the citizens Pennsylvania, white, black or yellow, are entitled to the priviiegcs aud imuuutties of citizens in Alabama, or or nay other State, North or South, the constitution of the United states Is & pompous faischood. ‘The peo- pie intend it to be a reality. We ave told every day we are unjust to tho seceding States because we exact guarantees, when het have given ali guaran. iy They have vuigar bose tees Lint could be reasonabiy expected, abolisicd slavery; they have repéaled the ordinance of secession, What would wo have more? Aboi- ished staveryd repeated the ordénance of secession | Why, the first gun fired against Fort Sumter abol- shou slavery, the proclamation of Lincoln regis- tered the abolition, and tue surrender of the rebel arinies contirmed it, To subuiit to the abolition of slavery now is lke submitting to the precession of the equinoxes, or evlemaly adhering to the law of gravitation, As for anuulling the ordinances of se- cession, we thought them alyeady pronounced nuil by a tribunal which is even higher than the Supreme Court—by that dread arbitrament to which kings and Commenvwealths must make their last appeal, A formal repeal of these statutes, stuce the War an- nulled them, seems superfuous coough, 3. There is another great question to be decided in this election:— Ac the United States pay or repudiate thelr debis? T confess ned at the outset, almost hopelessly embarrassed in approaching this question. It is an awial Dune aR this sliould be @ question at all, 1 should doubt whether any honest maa who has ever reaily reflected on its dread portent, could palfer one mouient with the vile thing, repudiation. For the thing 18 ever there, however we may shirk the phrase. There are axioms, one would think, in Inorals ag in mathemati It is geometrically certain, for example, that a stiraigit line is the shortest between two points, altnough & long demonstration may be attempted in favor of a crooked one. And just so cer- tainly {8 the straight line not only the shortest, but the only one beiweea debt and payment, if we would avoid the crooked path of national bank- ruptey end national dishonor. Now we are in- struct from the democratic p!atform of July 7 that “the credit of the government and the currency must be made good.” A wholesome sentiment Which there are few to dispute. And by way of ar- riving at this blessed result we are advised that “where the obitgations of the government do not ex- preasly state upon their face, or the law under which they were issued docs not provide that they shall be paid in coin, they ought fo t and justice to be fee i he lawful money of the United states,’? (his sentiment, according to the Associated Press report, was received with “thunders of applause.’ AS a further means of makilog good the credit of the government, we are informed that government bonds and other public securities must be taxed, ‘This dogma, too, as we are informed, was received with “renewed cheering and eries of ‘read it again.’ "* Now we are all agreed, itseems, that the national credit is tobe made good. It certainly stands in great neeti of repair, a3 I shall presenily show. But there is @ remarkable difference amoaug American citizens as to the true method of re-establisiiing that credit. Some of us believe in paying our debts when due as a good way of accomplisiing thatend, Oth- ers believe in giving au indeiimte promise to pay in- stead of payment, What 1s a flve-twenty bond? It is a promise by the United States to pay the holder one thousand or five dollars, as the case may be, within twenty from date; and a stipu- Jation that the holder sitall be obiiged to accept pay- if government choose, atthe end of tive years. What is a dollar? Now whea we are in doubt as to the meaniag of an English word the best way 1s to look it ont in the makes Lexicon. Let as tura to that excellent work, Worcester’s Dictionary, A doliar L find to be “a silver coin—that of the United States belug equal to one hundred cents, or four shiliings and two pence sterling.” Sterling shillings mean enuine sili The meaning of the word silver ia pretty weil underatood from ancient tradi- tions, alhough we are seldom indulged now- adays with an ocular demonstration of its form or color in the ved of currency. It 13 also weil known that statute of the United States gold as well as silver ts a standard of value, and there are even dim remembrances of gold doliars lingering in the minds of ancient men in these regions. e shall have no right to complain, then, if government imatsts on our avcopting pay: meni in gold, five years after date, but must submit with the best graco we can. A doilar means, there- fore, in Engtish and other civilized languages, “a coin.” Whatisa “coin?” Let us again dip im the ure well of Worcester unabridged. A coin we shall find to be “a piece of metal bearlug o-lezal stamp and made current as money,” It is “metalic or hard money, as gold or silver.”” Now if fe der be not invenicd to conceal thought, the United States gov- | | | | ernment, wiien it sold these bonds, promised to pay the holder, in five or twenty yeurs, one thousand or five hundred ening of stamped metal, gold or silver, each of them ing equal to four genuine shillings: and two pence, 1 beg pardon for.being tedious, but it is hard to prove an axtom. Iusiead of these yess of metal it now appears from the Now ork platform that government hasgihe right to force upon the holder, within five years from date of ita obligation, a new promise to pay suck coins at aa indetinite period, without mterest. And this is payment in full! Really itis divicuit to speak seri- ously or respectfully of such dnanciering; for what right has auy man or any body of ten to place this great Uni States government, which we all honor and obey, upon the same level with the immortal Micawbir? “The amount of my obligation " said that great financier, on a momorabie occasion, “was £25 45, 04gd.; of the second, £13 63, 2. These sums united make a total, if my calculation is corroct, amonnting to £41108. 11%d. To leave my friend, Mr. T. Traddies (the holder of the note), without ac- quitting myseif of this pecuniary obligation, would weigh upon my mind to anunsupportavle extent, 1 have, therefore, prepared for imy friend Mr. ‘trad- dies, and [ now hold in my band a document wilch accomplishes the desired object. I beg to hand to my friend Mr. Traddles my { 0 U for £41 10a, 11<., and I am bappy to recover my moral stent and to know that I can once more waik erect befort iny fel- low men.” “I aia persuaded,” continues the biogra- pher of this remarkable man, ‘ot only that this was quite the same to Mr. Micawber as paying the money, but that Traddies himself hardly knew the difference until ne had time to think about it.” To bel ® great, prosperous, powerfal goverument luke the American Union evading Its obligations and exchanging ono promise to pay for another promise to pay, and expecting thus to recover its moral dig- nity and to walk erect among other governments; to hear the national creditor bemoaning himself as the melancholy let—Like the chmucicon, promise crammed, promise Gepmamed-24 cannot stat capons 8 Is not refreshing to those of us who be- Heve in democracy. But the party to which we are opposed mainiatn that if the word coin is not nomin- ated in the bond or in the law tasatng the bons they shall be paid ta the lawful money of the United States, I leave tothe Supreme Court the respousi- billiy of deciiing whether Congress had the right to make anything but gold and silver a legal tender for any debts. Lam not a constitutional yer ov judge, but this I do kuow that the only justiication of that proceeding, in the foram of conscience, Was necessity, and that govern. ment has no moral right Whatever, and never could have, to pay its own debts tn its own failed pa- per. It is one thing to palter with-the right, because of necessity; quite another thing for convenience, for ovy personal commodiiy. Necessity is a fary who knows ho law, but to vi “(hat smooth faced gentleman, uckling Col Js not the way to make the national credit good. At the outbreak of the war the country was fooded with the faticd paper of more than a Uioveand banks, and it was held impossible to carry on the war on a specie basis, Whother that were so or not, whether the na- tional credit was really betier by reason of a cur. renoy which described our bonds as at par or above it, m our own markels, at Limes when they were no- toriously selliug in Anisterdam, Frankfort, all the world over a thirty-five or forty, is not for us now to discuss. But this much f# curtain, that if we add mllitous to that currency now for the gake of paying our bonds with tt; if we compel the creditor to take his payment in paper, which, in such case, will soon be worth less than twenty cents on the doilar, we shall a ok & gigantic injustice on those who trusted to our honor, and shall be met with a peal of derisive laughter at home or abr: shonid we ever wish to negotiate another loan such terms as upright goveraments command. it is be the way to make ont credit good--to force iyment in A ge ee rod twelve or fifteen years fore the debt is dne—1 should like to know what course can make it bad, It was Wa piary Ape that the tnterest on the bonds should he paid in goid, and the inference 18 Urerefore made that the prin- cipal is to be paid in paper. This is the most amaz- ing logic ever employed by reasonahie beings. Prac- tically we Know, tat as greenbacks had become legal tender, it Was thought well vo niake assurance doubly sure that government would pay interest in coin; although, as before observed, it could pay nothing olse--oxcept by express stiptiation—with- out trampling on the dicuionary. Aa the bonds were not due ior twenty years from date, and as nobody imagined that we should be watlowmg in an incon- vertible paper currency for a quarter of @ cen- tury, it was thought superfiuons to say that the principal would fare as well as the interest, t this moment the paper promise to pay @ dollar i worth #eventy cents. Daring the dark- est period of the war it was worth avout thirty- five cents; or, In the preposterous Jargon of the ex. change, gold was worn two hundred and eighty por cent, Gold was worth then exactly what it is at this moment; bat United States promises to pay were worth jast half what they are to-day. So much of improvemen’ there has been since the war was over, since tie iron claw of necessity was removed trom our tiroats; so much of revived confidence exists that the United States government will not make itselt bankrupt because it tlunks it conventent. But should this threatened madness realty attic: our peo le we shall geo the paper dollar descend again with Fearful raptdiiy till ft s00n ceases to circulate at all, and the ¢ dupe who trusted to our honor and who bought our bouds when we needed money sore- ly wi be lett with @ piece of paper in his hand, whether nominally for five hundred dollars or five thousand, of just a8 much value asa withered leaf, We should thas return to specie Py by a short cut enough, for there woud t be no other ency possible; but the cut wottd be through ty heart of the national prosperity and the anitor honor, EF believe that there nro many honest people really imposed upon by the mock logic of the Topudtators, Who are in carnest when they jou in the thunders of applause Which greet the sentiment nepen eet a 2a they a to know, or v! for government, has on all fai larea ‘that when. these at all, they would, as @ matter of in specio or its equivalent. if the freee now turns round acd thrusts ir ie paper in the creditor's face instead of specie, tell 16, if you can, by what mild expression the transaction can be described, We know how we deal with individuals who obtain money on false pretences, I feel the most profound respect for the American people; I have entire faith In virtue—the only Pi foundation of republican goveraments—and [ know that fey will nol be guilty of thisiraud, 1 pass over as quale irrelevant the pre- text for repudiation new and then advanced, that the holders of these bonds sometimes obtained tucm at low prices; that they took advantage of the distress of government and are Row clamorous for a payment frova which they wit derive large proilt. nds of our goverument, or of any goverument or corpo- ratioa, are Wo! exactly What they will bring in the markets of the world, If they are depressed it is from doubt of ability or good faith; if they are high it ls because of general contidence in both. And the best judge of the conditions makes tue best bargains, ButLam not aware that a govecn- ment, any more than an individual, has the right to inguire at wiat price a dena fide hoider obiained its paper. The honest man looks at his obiigations, not into the private account hook of his creditor. Nor is it casy to allude serlously to that other appeal sometines addressed to the lower mstlacts or munkind by those who show their respect for uae American poople by insulting them. The phantom of a blvated, bondholding aristocracy, whicn is yrinding the boues and drinking the blood of the hardworking people is evoked, Now, uf the bond- holders be ever so bloated aud ever so aristocratic, it is difMoulc to sce how the American people is to honor itseif! by pimndering or defrauiiag them, This may be a good argument to aduress to bar. giars, but the American people will never defraud the bondholder of bis own simply because he is bloated, As a matter of fact we know that hundreds of miiiions of these bonds ave held by trust compa- nies, banks, Saytags institutions, corporatious of va- rious kinds, the stockholders and depositors in which are leztou, and Loge! as regards the sav- ings banks throughout the land, belong to the hard- est working and Lumbler ¢lasses of the community, Clerks, it seamstresses, day iaborers, do- mesti¢ servant ar women, Washer women, fac tory giris—these make up a large proportion of these oppressive, bloated bonduolders, wito are feeding fat ou our misery, and who are sulemniy warned that there is to be but one currency for them and for something or other which is tacetiously called the Peopic. iM Massachusetts alone there are 45,593 de- positors in the savings banks—more than a quarter of the whole populatlon—and one-hal( of those deposits 1s in national securities, but you will not pardon me if i longer dwell on so sordid an argument. One would think it equally superiuous to douy the moral right of that form of repudiation which consists of taxation by government of iis own bonds. A government 13 bound by tue same moral law which controls the tndividaa), Unfortunately, sumetunes a government, which isthe aggregate strength of all the Individuals, possesses a power denied to the individual. if John Stokes or Richard oe borrow money of me atsix per cent and tien deducts five per cent or twenty per cent of that inte- rest because he finds it conventeat to take that littie suin out of my pocket, I shall turn him over to tho courts, Who will have something to say concerning the violasion of coniracis. But if goveraiment takes off a tenth or a fifth of what it promises to pay me I have no redress but to get rid of its bonds at the best price 1 can get; for assurediy if goyeruinent has the right to take oif ton per ccut it has the right to take off one hundred per cent, aud Imay one day whistle for elther taterest or priacipal. To say that because government imposes a general tax upon property or income, levied proportionately upon all the citizens, it has the right to deduct a portion or the whole of a suin whteh it has bound itseif annually ty pay, secins to me an almost hopeless confusion of ideas agaiust which human reason wust struggle in vain. Ido not believe that the American people mean to adopt any form of repudiation, I use the word repudiation Lp a and as often aslecan. UW we me to have the thing les us met familiar with tie phrase. Repudiation means refusal to pay—whether @ part or the whole of our just debis—and it means nothing else in its pecuniary application. An Indi- vidual cannot repudiate if he lives under @ govern- ment oflaw. But a nation may take a vile advan. tage of ita strength. There is but one excuse for the individual repudiator—inability, insolvency—and then he must give up his all to his creditors. And there is that excuse only for national repudiation. Is the great American republic prepared to go into bankruptcy and divide its little ail honestly among its creditors? -Nay more, are we ready to p1 tate the catastrophe by declaring our slat twelve or fifteen years before it is necessary? ly, there exists no nation ia the world so capable of paying its debts as this nation, The American Union ts the richest commonwealth in the world—a pro osition easy of proof, into the details of which it is not necessary on this occasion to enter. It is the richest community that ever existed, and itis as absurd for us to pretend inability to ‘opudtate hs monthly smink Lil or grocery book, repudiate because of inability, How much do we ovet 2,500,000,000, Ilow many orus are there? I sup- pose something less than 40,090,000, We owe on an average, perhaps, sixty-three dollars ahead at this moment. Whe. the debt is due, say twelve or iif- teen years hence, there will be at least 60,000,000 of postens 5 about forty dollars apiece to pay, hi agree the debt not to have Gieappeared altogether by that time, which it may easily be made to do. Nine dol- lars a year a head—and we are paying that now— would extinguish the whole debt, interest and prin- cipal, before tiiteen years are gone. If the foul word “repudiation” had never been breathed our dificul- ties would be over atready and the capitalists of the world would be giad to tase our securities at as low @rate as the most favored nations enjoy. This is the richest country in the world. The accumulated capttal of the British empire may be one-third larger, although it is probable that the re- sulia of the United States census of 1870 wil make surprising revelations; bat the annual product of the United States is now far grea‘er than that of the British empire, while the untouched resources of this nation are of almost fabulous cx- tent. It will be much within lintts to assume a = product at this moment OL $4,000,000,000, gold. put that which makes our financtal strength not only encournging, but pstounding, ta the tremeadous ratio at which our wealth and population merease, Arith- metic statistics become poctical when they deal with the American future. The head swims when the possibilities of this fortunate land are contem- plated. If 1 dwell for a moment upon the enormous power and wealth of this couniry 14 is not for the ugnoble purpose of pande! to indiviaual or na- tional gioritication, but in order that we all shame if we admit for an mstant oar inability to pay our honest debts, On the most moderate calculation our population doubles every twenty-three years. Our Wealth doubles at least every ten yeara. In the decade immediately Bree gerne | civil war the as- certained vatue of private property in the country increased more (han 123 per cent; doubling, therefore, in less than eight years. At a moderace estimate tie population, fourteen years hence, will be 60,000,000, and the valuation of property, after making allowance for the cost and cousequences of the war througuont the whole country, will be 40,000,000,000. ‘Tie debt, even if not reduced a dolar before that time, will then amount to about four per cent of the accumulated capital of tho nation. What Individual in this country wishes to- day to repudiate fis porsonal debts, maturing tweive and fifteen years henee, becanse they are likely to mount to a twenty-fifth pars of hia assets? Why, the State of Maszachasetts created in the year 1840, the first year after the war, $617,000,000, according to the interesting and admizable address of his Bx- cellency Governor Ballock, During the preceding ten years the Incroase of production was seventy- two per cent, although the yearly increase of popu jation was but three per ceat, much below the na- tional average, Were the whole country a3 indus- trious, the annual product would at this moment be $16,000,000,0.0, instead of $4,000,000,600, according to the moderate basis which we have taken, And there is no Ge reason why the whole country should not be as productive as our State, Heavea Knows that we are not burdened with navaral advantages of soll and climate, The sur- pins of our population 1s annually poured, and our capital 13 annually poured into the West and North- west. Can you even fatotiy imagine at some future day when it shall be safe for Northern mon and Northern capital to emigrate to the South and Sonth- west, how vast will be the wealth created in those semi-tropical regions by that magic caduceus, that golden (hree-leaved wand of free labor, equal rights and peace, which has caused the great Nortiwest to 7 a8 no communtiy of men ever prospered bo- Fore When the biight and the traditions and the superstitions of slavery have passed away Is it to be supposed. that the fatrest and most proiliic regions of the world, the great Southwest, extensive as Buro- pean empires, will lic fallow as at present, with less than one per cent of their surface under cultivation? If there 1# acotion crop at this moment of 3,000,000 bales—three-ffths of the old maxtmam—will you veature to predict fteamout fifteen years hence, if it should be fairly open to free labor and the circulation of capital and of ideas? ‘To talk of the inability of the United States to pay thetr debts in coin ts an insult to hnwan reason. Industry, honesty and, above all, posce=pence whiea the great soldier, to whom more han to any one inan We owe our victory, so carnesily tnvokes—will take the debt disappear almost before we have time to iad it; and in these creuins.ainces the capitalisis of ihe world will have to get up eariy if they wish our bonds at four and one-hall per cent, We borrow now at about seven and one-half por cent Inthe dark days of the war we paid about seventecn per ceat. Those were the times when confederate siock sold at par in Europe and Onitod States securities for thirty-five. ‘There has beon at least some progress since then, When the war was over and our whole outstanding Habilities had been Agurcd up tie total of the debt on the Ist of August was found to be ($28.237,733,320) @ litte less than 300,000,000, On the Ist of August, 1868, it waa 32,486,000,000, During three years, therefore, we had reduced the debt just one-quarier—say elgit hundred willions, It 1% almost superiuous to er public tat I am at this moment follow. ing the masterly and luminous address of Mr. Atkinson, of Broosiine, for 1 trast that this invaiuavic document is in the hands of every man of cither party who wishes to know (he tate of the matt finances, It 1s impossible to array statistics 1 @ more Convincing shape, and | for one ve his facts and his inferences to be quite beyond digpute, ‘Those who e studied his stuic. ments, a3 Well ag the speecnes Of Stunuer, Boutwell, Fesseavien and otter eminent Looe poe authorities On tis Vital question, May delend the republican policy Un fgancial mates a iust ol aaeatinnts, In and @ quarter our over and above war debt and war interest paid, ag Mr. Atkinson has Pron O80, Ayr — than eg eur —say gold—eac! . P doubt whemer the history of nations bas apy. thing like this to show; a reduction, in a little more than three years of one-quarter of a great debt and & diminution of the annual expenses of a vast re- patito like ours to so small a sum, [By the otiicial tement of the current year, we learn “that iv certuin that the expenditures,” nelnding interest on the debt and whatever may be dish for war debt and war interest,” will be much lesg than $03,000,000," which sum in gold 1s about era Add the inierest of the debt at six per 120,000,000, and you have less than $200,000, gold as our yearly budget. The annual expenses Of Great Britata, with its aebt funded a6 three per cent, are fie 000,000: those of !rauce are, at the very least, $400,000, Each power is speud- } ing at this moment about twice as much as we spend, { while the principal of the French debt is quite as i large as ours and that of tho Enghsh sixty per cent larger. Yet the Engiish hy ta cents are at 04, the French three per cents at 6934, whlie our six per cents are hardly 76, 1s not this the very esseuce of upreason? Compare, for exampie, the resi ve 4 position of those two great countries, the French - empire and the American Union, I shad say not a word of the comparative value of their institutions or their schemes of na- tional life, Look only at financlal facta, France has a somewhat less numerous De enero than that of this Union, say 43,0vu,000, The latest and most trustworthy statisticians Compute the I) Yearly product of the empire at twenty millards of francs, say $4,000,000,000, or exactly what was the f estimate of our production a few years ago. ‘Tie sum totalof her debi is just equal to ours. wer yearly budget is more than double our own. How are these four hundred annual miilions of dollars spent? ‘Thanks to the superior credit enjoyed by the erapire over that of the Union, the interest of her debt is out $63,000,000, gold. ‘This icaves her 333,000,000, And how does sie spead these $333,000,000? The army and navy take each year in time of peace—the iron- clad peace, which 13 all Europe ever knows—abous $110,000,003, ‘Tue estimates for the current year of the United States government for army and navy togethor are $57,000,000 in currency, equal to $40,000,009 in gold, or $100,000,000 less than those of France. Let te not fatigue your patience with more detauls. We perceive tat France with @ less numerous population than our owa, and tue same amouat of debt and aunual production, speads in tune of peace twice as mucu as We do; that her army and navy expenses are three and a half times as large as our own; that she has at this moment ready to re- spond to the first cannon shot in Europe 1,200,000 soldiers, equa to any the world ever knew, one-iifth more than the whole number we disbanded as soon ag the armed rebellion was overthrown. Remem~- ber, too, that her production seeis almost to have reached its limit; that her population is nearly sta- tonary, having scarcely donbied in 170 years; that her expenses have been annually inereasing with dizzy specd; that her deot is rapidly augmeating, having doubled in the last fifieen years, and thea remember that our population doubles in littie more than twenty years, our annual production every dozen years, our accumulated capital every eight years, While our debt has been decreased twenty-live ex cent in three and @ quarter years—and then be- fold France borrowing money Wiih perfect case at four and a half per cent while we are talking of re- pudiation, bond tax! and national bankruptcy, Why, it was but yesterday that we-all saw the impe- rial Minister of Fiuauce put a three per cent loan on the market, which was 80 greedily taken at 694 that he had oiters of moncy about equal to the whole of our national debt at its maximum, although he asked for less than $100,009,000, There were 781,202 rsons, Who subscribed for more than 660,000,000 raucs of “annual rentes,” ay eta ag @ capital of 15,00),000,050, and tuiriy-four timcs as much as M. Magne asked for. Within one week 600,000.000 franes in coin were deposited as guarantee, Weil may that warlike nation—irom their potui of view, which is not ours—be proud of their mighty arma- ments and their spparenely unlimited credit. Well may we hang our ds at the humiliation of our national credit. Js iteven conceivable, if the dent and masterly financial policy which the repub- licam party has been barening be persisted in, and which is not yet fully appreciated at home, and en- tireiy unknown eisewhere, that we are to see our six per cents hawked about at 75, while other great empires, not mae wealtiy, yr ae expensive and much less progressive, 2 fuss at three anda iiaifand four and ait interest ¢ ‘The American ple had contidence enough im themseives during the war. Kepublican and war democrat together bore arms cheerfully against the common foe, aud went into the death gie as if it were a festival, Whence comes this abject fear, or this affectation of fear, this despair of our destiny, when the national future was never so radiant as now? Let us resolve to return to specie payments, which can be done as well next year as next ceniu- Ty; let us get rid of this uredeemable paper curren- cy, Which converts us all, whether we like it or not, jato a nest of gamblers; let in the words of the Chicago platform, spurn all forms of repudisgion, “partial or total, or covert, as a natiol erime;” let us refuse follow that fluancial ignis Jaws Wi by way of showing us some other way to clear ourselves of debt except by paring it when due, is sure to lead us into the slough of a nd; les us remember that to us is confided in trust, for. those ee Sete hes straight before us; ro: atral i cman President who ce,” and who means to execu not to trample them in the dust, and we shall ectres Which have haunted soon see the spt unted us going peek So the limbo of departed spirits. Who is that man My friends, there haye been times in our history when it was necessary for men to ak each other who is Mr. So-and-so, just nominated by thig or thas ag a candidate for the Presulency of the United States? Bat has it ever occurred to any child throughout the land, above the age of Six years, to ask this summer, “Who is General Grant.” There are but few among the sons of men whose history is identical with the history of their country. But tue record of this republic durmg the most eventful of its existence 13 the record of the candidate ad subsequel retired to ula, who just before the rebellion ‘had gone leather business at Galena, a plaia man in his manner, who was sometimes seen driving an ox! but never ort into the streets of Si ox bad been promoted twice on the field for galiautry. ‘Tuese things being ters of course matt in our brave little army, the leather dealer saw small canse for taking airs thereupon, and if he n any au. bition, as he seeins to have let out ina moment of weakness, he had visions of a sidewalk, to be bait from his own modest mansion to the railway station atGalena, Suppose the question asked « century hence. Will there be ea on 80 ignorant of history as to faiter in thei doubtfal whether he has even yet been thoroughly ap- eon When the living man becomes suddet fore our eyes an historic personage tt is ‘dimeuie, peshane, to judge him as caretuily as we may the heroes of the past. Iam no hero-wor-shipper, and it has always seomed to me that the true hero of - this most important epoch in our history is the American people. Whatever was greatest and best throughout the war was done oy the people, Anu it is exactiy because Gen- eral Grant is a singular embodiment of many of the =most minent characteristics and vest vit- ties of that people, that he scems the Uttest man to be chosea our chiei magistrate. 1 believe that from the time our generalissiio received the surrender of the rebel armies up to the period when le became the candidate of a distinct party organization it wae rare enougt to find any disposition to detract trom his fame. Por one f contess that the sentiment £ find most necessary to ruard against when contem- plating nis wondrous career and the strange stm- plictty and repose of his character, is a tendency to over cuthusiasm, ‘Through the misty atinvspuere whieh belongs to the past conspicuous personages are apt to dilate into more than mortal proportions, while we are, not nnreasonably, inclined (o scam very closely the defects and the pretensions of con- temporary greamess. In truth, very simplicity: of General Grant’s character makes the great things which he did seem simple too, There can be uo Surer test of power than the ease with which tt ae complshes Herculian tasks; yet the spectator, de ceived by asymmetry itself, often mistakes colossal for the commonplace. We all sccu afraid of uttering that one word in re; to this shy, tranquil, unobtrusive man, winch really characterizes him—the word genins, ‘The very modesty of the man himself seems to re buke ali tendency to exaggeration, Yet, this is exactly what General shermen says in his famous and beautiful letter, while avoiding the oh “My only point of doubt was in your kaow- je rand strategy and of books of science and clge of Sf ; but 1 contess your common suse seems to pplied all these.” And whatis that commom sense Which supplies strategy, science, history, In the little affair of ad Belmont, where he rat showed his incapacity to deieat; at Don elson, where he conver impending rout into vic~ tory, by ordering the famous charge of smith; on the Gaek add bloody? Aprit afternoon, erhon he tol Sick man at Pittsburg Landing how Doneison was wou, and organized ont of apparent eat and ruin that magnificent triumph of the following tora- ing; from Vicksburg to Chaitanoogs, from tho Wilderness to Richmond, he Grate Ta rebellion to ite doom—never a footstep backward— unilring, ualmpassioned, tranquil, relentiess as des tiny. have no pretension to be @ judge of miittary afairs; but to my humble appreiiension, the cam. aigns of General Grant, cially those of Victsbarg, of Chattanooga and of Ricitmond, will the more closely ‘are sbadied—the more de. cidedly reveal a Yapacity of the highest order in the Inan Who conducted them. That they prove perfect firmness, tenacity and self-devotion, ts beyond dis. pute. Tobe ® soldier necessarily of the highest intelicctual jacuities, No man can be impitos many thout being a thinker, and tuls thever iaert ‘Vor successtit soldiers ate ‘apt to be Gungersas ia @ republic: “They think too much, such men are dangerous. Not because ho is a croat soldier—deop as the de