SUP P L E M E N T. jgtS ON TIIE FINANCES. v BOKESr SPEECH AT THE ST. piTI. FAIR GROUNDS. payment of the war debt. C rv'T AND TK.VKTS SHOWING THE PEO frFiilVI! IMFBOVFHEXT IV TB MOXETART x.,xios " THK ""vtuxsirxT oxe rrr.ta of tub ri'Bi.ic ouugations cax- CPirD IX TUIRTEEX TEARS. Citizen of Mixxesota: I wish to rp.tow e ruv rnww acknowledgment to the Gov or 0f Minnesota, Governor PiHsbury: to the V-'vcr St-11112'' "'15",,r Dawson;to the Presi Vni ''"' Mi"'"0" 'c Agricultural So ft" Mr. (.icorge French, and to those asso-i-Jri with them, and U the people of this ;.llf whom they represent. lor tnetr lilna ana I ln-ous welcome. 1 know rery well that which I can do or say will be a fitting ignite return for your kindnass, but I hon- J.ire to fay something touching the p4.'fria! interests of the country which -; tend at least to encourage o., !io need encouragement, and ,,pve increased hoe to those who are already i-pretul. The most interesting Questions in -u'ji.c affair which now engage the attention '! liie p-i-p'.e of the United Slates, are those ti U relate to the financial condition o! the f.-.uii'rT. Since the financial panic and col t, fire vears ago capital aud labor and busi t(is rapacity have f.iund it hard to get profli llif emt'l-Hraent. We have had what is com 0Ttlv aul properly known as hard times. In aarh i:m-s meii naturally ask what canbe done? H .. lnr.j is this stagnation of business to last? rt there sny facts which indicate an early re turn tf better times! I wish to ask your at tention for a few minutes, while I present some avis ar.2 figures which show a progressive im provement in the financial condition of the rei.trs! (iovernnient. It w ill lie fir you to con f' irr what inferences may 1 fairly drawn as to i--r h-iniiS on the question of a revival of tiisiiirs prosperity throughout the country. rrKsrsT state or the prm.ic pebt. Ti e financial condition ol the Government of the United r-tates is shown by lis debt, its re (c:;,;; -il expenditures, the currency, and the f.i'.t oi trade with foreign countries. Let us (consider '.he present stale of the public debt. T:ie a.-cer'.aineJ debt reached its highest point n.u. a::er the close of the war. in August, ;v;,. at d amounted to $2,757 .C$9,571.4.".. In i,.M.tim to this it was estimated that there .-r- enough uiiadjusted claims against the Cvertimriit of unquestioned validity to swell Lf total debt to j:,0no.0i 10,000. now to deal vith this great burden was oue of the gravest -ars'"itis which pressed for decision as a result 0! t!;e war. It will be remembered that in Im portant speeches and in the public press the 1; inion was confidently declare d that the debt fa'A r.cver be paid; that great nations never did (ay their war debts; that our debt would be like that of England, permanent and a bur den upon ourselves and our posterity for all tine. Some advocated and many feared repudia tl c. There were those also who thought a a tr.'tu! u bt was a National blessing. Fortu t.itely, however, the eminent gentleman at the lied of the Treasury, Mr. Hugh McCulloch, dii not hold these views. He believed and the pnp':e believed that the debt was not a biess bat a harden, and that it ought to be paid at.d could be honestly paid. The policy adopted was to reduce the debt, and thereby ttreiifrtlien the public credit, so as to refund t'.e d' it at a lower rate of interest. Aud now I r.ve you the result. The debt has been re im tii untii now it is only f 2,035..S0.324.65. Tu: ;$ a reduction, as compared with the ascer t!ued ueht thirteen years auo, ol $7i2.1ti,-J4i.. . More than one-fourth of the debt bas tn ; uid r,tf in thirteen years. If we compare the irescnt debt with the actual debt thirteen an, placing the actual debt at , ihi.i(,(kio, the reduction amounts to si out tl.Qou.000.000. or one-third of the total '1-ux. Tus 11 has been demonstrated that the I States can and will pay tbe National EEUOVfXO AX OFPEXSIVE BCRDEX. F' "'iirasiuir us these facts are, they do not f-.iiiv hnw the pneress made in relieving the 1 iiitrv from the burden ol its war debt. All & h-ve to borrow monev to carry debts know tie- imoortancr of the question of Jnrert. The ttal umount of interest-bearing debt at. the t:n'e i: reached its highest point, the 31st of Auc'it, lva, was as follows: ;.ri wt. Uml t 6is.ltr7.10 t iT relit. b.rtlds yt. ir.i.riTT.fvi 1 it cri,:. b"nu l.l.71ijri ;ta V.. Holes...... .'.", Ooo,Oo.oO ' i. r--'i;:tl interest ntes. 6 per cent. 21T.O-J4. lso.14) 1 t:tl I.:ie-t-bertlt2 ue'tt 2,:iM..V10,?j4.!0 1: U'l .1 &!iuual iuterest rUarj;e a.uoutru tu i."io.s".c; n 1ut was an oppressive burden. For Interest i:.T!e. wc were paving more than double the t -til c-.rrer.t exiienses of the Government in A'.v year of peace prior to the war of the L'nion. W.rii such a fcurden for interest it is not strange ti.At u:any believe that the debt could never be a.'i. But as we have seen a better opinion I r -tailed. Those who believe that bv strength eiotii: the National credit the rates of interest o:l ! !e reduced, were sustained bv the pubiic Jaiineut. The ability and the purpose to luy the debt, according to its letter and spirit. erc Uciuontrated. It wasseen that the suc-'-n.s'ui management of the debt depended on :t- rales ol interest to be paid: that a reduction oi 1 per cent, on tbe wbole interest-bearing ie:t would be a yeariy saving, in interest, of over ju .Ooii.ui 10; that a reduction of2 percent., iu :ne r-e of interest, would save to the coun try over AI, -.'. wbicli is the interest at 4 -verceut.ou El.H,iKm.iiil. Tne poiicvof re ticnr the debt and thereby strengthening tbe public credit having been adopted, let us obsprve the result in the present condition ol the public debt with respect to iu-t-resr. The total interest-bearing debt August 1, 1 "."" was as follows: luree jr eenu liavv pension fund.... fI4.r-wri r...ir it ennt. Iionus n;..vi.coo t' ".ir-and-a-half per ceuts. ............ S-lb.OO-.t.o:! f:'fr rents -. Ton. it. -' MiiinU Ta.;!.;" T.-tal present tnterest-bearlugdetit..l.o!'.n77.!i t;.r in.eret un wuicll amount.-, to ay."i, ll,"7.-"l per a;-;:mu. 1: ii:us appears that In thirteen years the in-trrest-tiearlug dett bas tieeu reduced from $2.-Rt-l..Vej.aJ.Sn to Sl.Sj9.S77.y.W, a gaiu in the atno ;n:t "I the luterest-l'eariiig debt of $571, Vrj,:it 5;. Tiie reduction if the annual in-t'l-ri-t rharg-s Is $.jo.7i,ik)0.34. or more than li ty j-r cent, ol w hat we now pay If the re i jcTion of annual inU-rest were placed in a i:.ii:g fund at four per cent, interest it would 1-iv o:l the whole debt in ltss than twentr-ave Tears. AXOTHEB ORAT1FTIXO FACT. There has b-en another gratifying acd im porun! imorovemenl in the State of the pub ii iji t. . Years ago our bonds were arj-lv owned in foreign countries. It is es t ni;,; that j is7i ir,n S5NI,(0i,O)tl to S:. i.Vio.uoi) were held abroad. We then paid l' ":n tVi.o.Kio.OiKl to f;o','X0,l'00 annually to f-ar-'l-e for interest alone. Now the bonds are 11 liuiy Lod in our own country. It is estimated 'tut Svc-oixilui of them are held in ' ae 1 i.itj States, and only ne-ixlli "Toa.t. iosu-a-t of paying to foreigners f -V'.um.iaio we now pay them only 1.011 Ji; .iin,),(Kirt or f I5.WW0O a year, aud t!i- int. -rest on the drbl is mainly paid to our ti ritizebs. It appears, Irotu what has beitn n-owii. that since the close of the war, since "e aiiic oi tive jears ago. tne.-e bas been a rreit eiiiiiKe iu tbe condition ol the debt. T he ccac-.- ujs be-n one of improvement. First, 'iieii-bttas been greatly reduced. Second, "it interest to be paid has been largely dimiU llKd. Third, aud it is 10 be paid at home lu uesd 0f abroad. The burden of taxation ha s . .A J , 1. J 4l.4lA' - -OSt, almost every night interviews witb been reduced since Wan, the first year ,fter t!ie war as follow.: The taxes iu I860 were- Tout Tbe taxes iu isrs .11. " ... i!.:7i,i.oi Internal revenue Jl Tnl.1 ' Bcducu'oB of" tiViVii'siViei'iwi!."" -l47,'ri6; rustoms isi.n!i.ii ro Internal revenue m lla.7js.au. 14 Tr,ul - r"l.8IS.K.1S.S4 1S7h. Tot!U $240.7.-.I.SO4. It-diietiim slnee the panic t CI.oes.tti w Tbe exiiemliiurcs liave ueeu miure4 la uu aS fliclYM IS-rr. F-rpenlltr.res.li:elaiin; pensions and T-JT. M:.r.75.1 ,!,'!, ut.w4.a-.-b.o Krrtncllon tM,57i,r.lS.3 F.t-eii,litur,-!t tl! reir of tbe mule J'-J !..s:,.?4S.M 4. .-JO. Ml Reiluetlon In fire years $ jmi.sis. M The loi;mveinetit ia lil eurr-licv t.,ne lie elo- of the war has t-e rry c.-ent. Iu issi f.r t-aiier enr reney of 1 1. rncntrr roust.ied of: l.reei.l.a.-k, S4U.7.-.7.6O4.0O Ni?.-ual oaiik notes 17 tsu. .-,. w r racu.'iial eurrenry...... ........ 24, :t.71-j.0 Otil lent:,iL notes.'. . 4 f -" lreasury pote, evniMn:il Interest T nt- atid State oai.k n -In. ,e-il-"a'"1' I0n.000.ooo.t-0 T-ta) r7i-.7l"i.aa.M It-Taluewa, s -i(i on the hll.ir lu eoiu anil its tot:l va!ii iu coin was .mi. ,vi. 19. In 1-7S onr p:ter eurreucv cmi-iis 01: ireeilt.arka ." (.t4S.CSt.01 00 Nllot.l iuk now, S-4. .114.;-y4. FracUoUiil curreuey... .............. IS. M7.7js.77 Total (aa7.743.tes.7s r ach dollar of pa icr currencv is no worth in coin, and me total value in coin of our pit-er currency is more thau S!s-l.(Kil.(i0i. The value of the ptper dollar is as stable as that ol coiu. Coin and pa-r are practically abreast of each nth -r. Tiie fluctuation in the value of tbe pauer dollar has not. in the last live months, exceed - j ilie fi action of a cent. TBADE W1TU .rItrir.X COCNTItlES. The total increase in the coiu vaiue of our paper currency since ISoj is attout fl75.Wl,. (. N.ithing connect-! with the financial atluirs ol tbe Government is more ltiure-iing and instructive thau the state of trade with loreign countries. Too extxirts from the liiid States during the yeir rudiug JuneSU, 1S7S. were larger thau during any previous year in the history ol the country. From the year 1SB to the year 173, the net imports into tbe I nited States largely exceeded the exports from the Tinted Mates, the excess of imports ranging from iii.fmt.lu0 to t;li2.. OOtl.UIKi. During the year 17 an. I 1S75. the exjicrts and import were aoa-- eual. During the years euding June lux, ISiti, 177 aud ltS7. however, the domestic exports from the I'uited States Kreatly exceeded the net imports, the excess of exports lucre asiog rapidly from year to year. Tuis is shown as follows : Yearen'Mnj Fxees of exports June 311. uer uet Imports. ISTii f 711,742. 4M 1S77 lii. 15i.Uf I 17S i57.s:ti,7 The total value of exports from tbe United Stales inert ased trom iiiUy.3S! ,90" in 1-S'ii. t- $t.VSJ.Cs.;,-SS in lS7i,aii liicrea-eot f411,-.!Cr5ts, or IV. per cent. The total increase in the value of agricultural products extorted from the United Suits in the year 173. over the exports of the year ending June 3u, litis, amounts to i'J7:,471,"'J, or per cent. Tbe balance of trade against the United States. in the five years uext before the pauic, was f5-4,05J,r.07, but tbe balance of trade the last year, if com pared with that of the two years uext before the pauic, shows a gain in favor of the Uuited Stales in one yearol over SlJJtt.otW.tKPO. It is uot necessary that I should dwell upou tbe import ance of this tavorable state of tbe balance ol trade. Balances must be settled in cash iu the moucy ot the world. The enterprises of our business men reach out to all parts of the world. Our agricultural and manufactured products wore and more seek aud litid their market iu loreign countries. The commerce ol all parts of the world, bound together more than ever belt. re by the steamships, railroads aud telegraph, is so connected that it must he conducted on tbe same principles, and by th satne instrumentalities, by ail who take part in it. We cannot, if we w ould, we should not, if we could, isolate ourselves from the rest ol the commercial world. Iu ail our measure for the improvement ol our liuaurtal condition, we should remember that our increasing trade with South America and the Oid World re quires that our financial system shall be based on principles whose sound ness aud wUdum are sanctioned by the universal experience and tiie general judgment of all mankind. Witt) dimin ished and still diminishing public burdens ol d.-bt, expenditures ai.d interest, witu au im proved coudiiion ot currency and foreign trade, we may Weil bipe that we are ou the threshold of better times. But we must not forget that Hie surest foundation of a restored financial prosperity is a sound constitutional eurreucv and unstained National credit. EASTEBX EMIUBATIOX TO THE WEST. There i another intere-sting subject that is worth giving attention to, and I think it is en couraging and full of bop,!. Tbe surplus popu lations of the Atlantic slooeof States are liud iug their way, as they never have done be'ore, to the beaut ilul i ates and Territories ol" the West. Appiause.J Aud wUat do-stua'. meau? It means relief to the Hast. The surplus popu lation th eoesoll giv-s a better opportunity for employment of labor aud Industry tbere, aud here in the tew Stiles tuey are making tt-eir homrs, and they are luruisbing tueui a market for their supplies uom the old States. But it has more than a double a lvautage. Tuerc are tnree advantages. It relieves the States, it lurnisties a market to the old States, and w ith tneir products in the new States they h lp to swell tbe tide of ex ports to the old couuiries. That is w hat this cbaiige of potMilation means, i'ott know much uiore'about it than I do. VoU have lived here aud seen it. And now this movement ot popula tion, what is it doing here! We see tne great tates, oue iu the distant S luth, one in the centre and tiie other here. Tbere isTeXas.au empire iu itseil, receiving larger Burners of population, pcrbau, thau we ever received iu any State during the present decade, having sugar, cotton an-1 wheat and cat tie. There U the state ol ivAiisas, the pioneer in the great struggle hicii dedicated all America tolne- : Join aud tbe stars and stripe lorever. f o-is-! terous aud prolonged aiylause. She is having I her shan- of this prosperity. And Mtiiucsota. I I need not say '-Hod bless Minnesota."' H t is blessing Iter." f Kcuewed apjlauscl. And here let Us remember what great blessings we have. It is not merely material prosperity, it is not merely great crops ol w.ieat and corn and great lumtiersof cattle, but tbe faces 1 see arouud me show that no shadow ol petiieuce is upon this community, or perna;j ever can be, while down your uoble river affliction n- spread over all thiil couutiy. VVe adunre and sympathize with tbe uoble men aud woiueu wuo, a pbiciaus and nurses, are carrying succor to Greoada, and Memphis, aud New Orleaus, aud tbe otuer cities afHiclcd, aud 1 am told that you of Minnesota, of your I abundance, propose, to-day, to do something I ol vour share toward giviug relief to tuose ! stricken communities. I Applause. WBEKE WF STAXn THE CcKUEXCT. Now, inv tneiius. witu this picture, as 1 thii k, so lull of ho? lor the luture lor you, and 1. as an individual do not venture, with confidence, oikjii predictions ol pr.perity re viving. I have no sptnt ol propuccy, oui rea soning. Let us see how it stands. Tne debt is a great burden uinjn labor and capital. It is grcatlv dimiuisue.1 and is (till diminishing. Taxation is a great burden upou labor aud capi tal, and it is greatiy Uiiuinisned aud is still di minishing. So, loo, as to tbe expenses ol the liovermn-nt, and then with thai which helps us, a sound eurreucv coming, aud iiauiigrati.in coming, may I not co.itideutlv say that these "are indications, at least, that we are marching to the thresh hold of reviving general nusiues prosperity. iGreat applause. J Aud now shall we look around for a uew way to pay old deb-s, or shall we march in the ths marked out by tbe fathers, tbe paths of hon esty, of industry, or economy. Shall we do what Washington and Frautliu would ad vUe, that is the question before tbe people to day. My Irienus, I enter upon no argument of a d-uuuu uueauou. but I y. n cululou, 'isundiiifrtne seemlnely overwhelming I circumstantial evidence against AliJa I w e may be mistaken, all of u bnt I believe I that a restored linancial condition depends j largeiy upon an honest currency. (tireat applause, j And why co f say tbU.' Thecom nierce of the world is the commerce now in w hicn we are taking part, aud that U the same thing the globe around. 'nl.U rROBSBILITlES." We have with us to-iUv the gentleman who is at the head of tbe Signal Service of tne United States. He Is known popularly as -Old Prouahilitirs." H,. is rot oid. and, I fear, he is not aiways probable f laughter); but certaii ly. In the science of meteorology he has gona farther than any other; and what does he tell u; He says that this atmosphere of ours, this circumambient air that surrounds the globe. Is one a a nnit. and that tiiev have dis covered by observation all over I he globe that great commotion and a great disturbance on any sea or any continent, sooner or later is felt on every other sea and every other continent, and so the commerce of the world is one. Where there is very hard times in one great nation, sooner or later it goes around. We should then base our financial system on prin ciples and by instrumentalities that are sanc tioned and approved by the best judgment of Hie whole commercial world. Then I reeat: If we want our standard of financial prosperity to tie based unon sure and safe foundations, let us ail reineintier that its best security is an un tarnished National credit and a sound constitu tional currency. Great and prolonged ap plause. At the conclusion ol the President's speeh there were loud and frequent calls for General Myer. Chief Signal Oificer or the Army. Pres ident Have Introduced him. fieneral Myer then made a brief but felicitous speech. Attorney-General Deveus followed, making a fine address. MR. DILL'S BATTLE FOR THE PEOPLE. Mr. Dill, the Democratic candidate for Gov ernor, having b?eu a member of tbe House aud of tbe Senate for many years, and being an nounced to the workingtnen, shippers, and transtiorrers or Penusvlvaiiiaasan Anti-corporation Candidate, the loilowing is presented as a brief record of bis LegUlaMve struggle In bebail of the People against the Pennsylvania Railroad Company and kindred cornor:ions: Mr. Ihll bring a member of the House of Re presentatives Vfted lor the Nine Miiliou S;eal a bill proposing to take nine million dollar from the securities iu the si .king fund for the benefit of the Pennsylvania Railroad Comiauv and auxiliary corporations. See House Journal ol 170, page IC At the sitne session a bill was presented to authorize railroad comjiaiiies to lease or become lessees, and to make contracts with other rail road comoanl 'S, conjuration, and parties. Under its provision: gigantic combinations t k life, aud by merger and eonsoii.ia'iou of cor porations, individual entcrprisf was crushed: Mr. Dill voted "AVE." See House Journal of 170. page 3.5. The act to incorporate the now notorious Millordartd Mjtauioras Railway Company I -ring pending, Mr. Dill voted "AVE.' See House Journal ot lt)7tl, page 7i5. A supplement to the Milfurd t'-d Matamoras Railway biii haviug afterward been introduced .livening $lU.ovO paid annus. ly by the Erie Railway Coinpauy from the State Treasury to the treasury of the Miiinrd and Matani-iros Railway Company Mr. Dill voted "AVE." See House Journal of l"7(t, page 1119. This naked theft ol SIU.OOO annually from the Slate Treasury having been detected and brought to the attention ot th Executive, Governor Geary at the session o! 172, by special message recommended a repeal of the law. A bill tor that purpose having been introduced, Mr. Dill, then a Senator, voted "NO." See Senate Journal ol 1C-. page 715, 7'ti". Toe Pennsylvania Railroad Couiiany desir ing a sort of Credit Motiiiier Charter to ena ble It to oue rate its Western leased lines, an Act was introduced to incorporate the Pennsyl vania Company. This Act was the forerunner of a series of bills passed duriug tne sessiou of 1S71 aud 1S7-! in the interest of associated capi tal, and in hostility totheinterests of the work iugtnati and the bustness community Mr. Dill voted "AVE." See House Journal of 1S7H. pae VSH. Mr. ttniingfelt. Senator from Incaster, hav ing ottered the following resolu'ion, vir: "Ht tuircti. That tbe Committee on Railroads be in structed to report a bill fixing the maximum rates of freight and fare to be charged by all railroad companies tn this Commonwealth," amotion was made to indefinitely postpone the resolution. Upon wnicb motion Mr. Dill vcfed "AVE." See Legislative Journal of 171. page S41. Upon the act to incorporate the infamous South Improvement Company, which corpora tion was the precursor of the undard Oil Company, Mr. Dili voted "AYE." See Senate Journal ot 171. page 1U7S. Tue act to incorporate tbe Laurel Run Im provement Company, afterward the Reading Coal and Iron Company, under which Mr. Gowru acquired control ol the coal fields tif jchuyikill county, being before the Senate, Mr. IliiiiiigMt ottered an amendment wh.ch destroyed ibe effect of the vital clause of the bill, fills clause was as follows: "And It shall belaw lul lor any railroad or mining company existing under the laws of tins S'ate to utscribe lor, or purchase, or guarantee tiie bonds of I he com pany hereby incorporated." Mr. Billingfelt's auieudineut bavitig prevailed, attd being fatal to the purpose of Mr. Gowen. the vnie was. ou mo tion ol Mr. Dill. reconsiTcre-l. and the original scctioa rcli.se! led. Sec legislative Journal of 171, page l'r.'i. Tne original "Free Pipe Bill" having been introduced under the tit'eof "A Supplement to the act oi April 174." extending the pro visions wf said act to emorace withiu the pre vious of tbe same the tratis;ortailon ol oil and uatural gas by means of Hpe lines. Air. Dill made a dilatory motion to commit ttie blil to theC'-iiiiuittee on Finance. See Senate Journal ol 175, page Ttie bill having be-n again reported on March 3, 1T5. was defeated on March 4. 175. .Mr. Dill boor.ro on tbe rail of yeas and uavs. A bill having tx-cn introduced to authorize and direct the Attorney Gcueral, upou coin plaint made by parties whose interest are thereby atiecled. to institute proceedings according to iaw against corporation alleged to havs violated duties itnpoi-ed upou ihein by law, Mr. Dill voted 'NO.'' See House Journal of 170. page A bill having been introduced entitled "An i Act to prevent gambling and lotteries iu this I Commonwealth, Mr. liul voted NO. See House Journtl of 170. pa e 5ti. An act being pressed at the session of IS, 7 by the Pennsylvania Railroad C.miiuuv to pre vent strikes by their employes itpon trains in transitu, kuowu as the Engineers' Bill, or "Intiu.l dntion"' Bill, entitled "a Act for the Protection ot Pissengers on R.iiu-oads." Mr. Dill voted "AVE." S.-eSsuateJouruaiol 177, page 452. Suffice it to say, his vote in the Legislature has always beeu at the servieeof .be Pennsyl vania Railroa-1 Company and kiadred Corpora tions whrn it w as needed. It'An tl tre km a wrplce of roifx itc fos fmiimt eavwsni. MI5SI0X OF TIIE REPUBLICAN FARTT. The Republican psrty Is the party of honesty, of National lailtl and of pubiic h nior. It in sists that tbe pledged faith ot the Nation should be maintained at all hazards: tnar irredeema ble oapcr inouey i? the worst of evils; that in ordinate issue ol the same lead to National bankruptcy, and is demoralizing in its tenden cies. It overstimuiales sieculatioii, creates pauics, and renders all business operations insecure. It appeals to history for the confirm ation of its assertions, and the gloomiest pages ol English aud Frcuch history sustain its con clusions, it opposes the uestrucliou of the National banks and the exclusive i-sue of paper money by the Federal Gov ernmeut. because such a system would make the volume of currency eutire lv dependent ou the wiil of Congress, and woulJ Iran.fer the power of regulating the currency from the hands of the people to those of the Government. It would make the G ov ert mental! immense money power, corruptiug to itself and to the whole country, aud even t uolly jeopardizing the existence of our political instil ulious. The Republican party bold that the time for the resumption of specie pay ments has come; that paper and gold ought to be of equal value: aud that the era lor II net u ation aud uncertainty be closed. Ii is for hon est money. As strongly does it eet Its lace gainst the repudiation of the public debt, wiittkaex inav bw Siata. Naiioual or municipal. compels the creature to abstain from in-1 jurintrthe divers. These shark charm- It holds that '.he corner-stone of public credit is fidelity to contracted obligations. It has no sympathy with the bandit doctrines of repudia tion, advocated in certain Democratic Mates. All such practices it denounces as breaches ot faith, disgrace to tiie Americen name, as calcu lated to briug us into discredit among tbe com muuily of nations. 'i-.'4 Jtruufxicm. KEPUBUCAX POLICY SUSTAINED, From tbe Hnntinzdon (Pa ) Journal. From tbe beginning or time, in all lands, and under every form of government, the fiarty in power has always been tbe shield against which have been thrown the shafts of malice. The fierce light which brats against the throne illu minates tbe most trifling lauluand wbat would be a mistake out of power, is sharpened and magnitrcd Into a fault when in power. Only a foot would assert that the Republican party has not made mistakes, but they Lave grown up like lew weeds that will cree; into an extensive and magnificent garden. The beauty ot the flower and it superb and luscious fruit in their endless variety make completely iusig uiiicaul the harmless weed that steals up in some obscure corner. This graud party sprang into existence when the country was bankrupt iu means, coutemp'ibie in the eyes of other nations, and lib-honored iu the tye of the world, as a repub lic boaslin- ot its free institutions, yet holding millions or slaves. It was a party without or ganization, opposed by a parly whose President aud Cabinet had, cither turougU connivance or actual assistance, robbed the arsenals of arms, scattered the navy to the ends of the earth aud paralyzed the army with the sole view of pro moting armed rebellion and disintegrating tbe United S ates. Whcu the thunders ot bVaun gard's guns echoed Irom the brokeii wails ol Sumter, leaping from the granite be-Is ol Maine to the lair slojies of the Pacific, it w is that the Repuoiican party leaped into exist ence. It was tbe new party tiiat was to wipe oil the shame that stained the uatiou'a brow, break tbe bouds of the slaves, aud settle for all time that treason could have uo looiimld iu tins country. Steadfastly, iu tiie lace ot bitter est resistance, it pursued this lofty purpose. Driving out of power the imbecile Buchanan and his traitor advisers, it organized armies, filled the pillered arsenals with aru-.s, crealeo a navy, aud on tbe baseless labile of empty Tauita, built up a Treasury that supported millious of ineu aud liieraily crushed tbe bold est and most magnificently proportioned rebel lion on the world's record. ThoUsaiitls were the lives that were giveu to bring about this end, but, as If to bold up to all luture history how sacred was I be struggle and how boly was its accomplishment, the assassiu sealed it with tbe blood ot Abraham Lincoln. Siuce that tune the leniency shown to the traitors agaiusl the Republic has beeu steadily Working to tue injury ol tbe party. We do not assert ati ap-pioaL-a to au exaggeration when we say that the day Lee's army surrendered there spread through the South a feeling ol terror liia" lived until the words of forgiveness from tbe Republican partv poured oil over t heir troubled minds. Instead of bringing form tbe fruits ot repentance, the universal result was hatred toward the Government that had pardoued them, persecution and murder of its uUicials, aud an awiul record of cruelty towards Ihe ignorant lieedmen. At every step the Republican party was met by a desirc lor disorder. Vears have been w asted iu Con gress to parity thee unhappy peop'o. through out the South. Vears have beeu consumed tryiug to lead them iu the path of right and to protect from their ventcance the millions of blacks. To this coi.staut turnnil in tbe South Is to be attributed much of the financial dUtress of the country. Tue merchaut iscou servative by nature, and seeing how little tne merchaut of the South were deserving ol credit under such anarchy, tbe Northern capi talists would not encourage trade iu that sec tion. Br the natural iullueue of trade the lerliujj of rear of some uhknow u evil that was really vpu jttitis, the luck of confidence spread to the West, thence by the same logic to the Fast. until that hydra-headed tieud to tbe success of business, a general waul of coulideuce, pervaded tiie entire community. As a natural sequence came the stoppiug of mills, toitudries, and Uctories, the breakiug down of solid business bouses, the appalling sacrifices ol all kiudsof s'ocks aud bouds, the boundless depreciation of real estate. Millions or operatives in every branch of iudustry, who had up to this period beeu able to possess coiulortable homes, were com uelled to berd into teucment houses. The pawnbroker flourished, while the artisan sullered, and gaunt famine stalked where glee Miiue prosperity had made banpy firesides. VVe assert thai, this state of atlairs was brought about solely by the opponents ot the Republi cau party. While it was untrammelled tbe coiiutry was prosperous, and only when fought agaiust by treason without its lines and treachery within, did sorrow come upon tue people. Now this is the par.y that is arraigned by the Houorable R. M. fjicer. Chairman of the licinocralic State Committee, in a spetch de livered at McCoiiheilsburg, September 0, 17". The sad picture he draws of tiie con dition ol the country is the strongest con demnation of the ltemocralic pany. Much of his speech is Uevob-d to a denunciation of the Natioual ba.iking system. Cauuot Mr. lcr remember whcu the country merchant had to make a large pec centum of allowance ou his annual profit aud loss estimate to the lame discount upon a currency that comprised inuumcrable bauks of ali kinds, about which lew people knew anything The wild-cat bank has ruiued many a merchant and cost the country millions of dollars. Tbe traveler from Maine could ouly Use bis currency ,iu Alabama by havit.g it laigrly shaved, and should be get Lack to Maine with his Alabama currency there came another shave. Dors not Mr. Surer kuoo that lor the guarantee from the Goveruuient ol the inviolability of the National banking cur rency, aud ihe convenience of having this cur rency passable at all ports of the country, that every merchant feels be gels o'.l cheaply for the expeuse of the system ? The nn-rchant is alwavs willing to pay something when he get soiuethiug in return, has Mr. Spcer ever heard ol a National bank note going to protest! Can he euuiucrate the thousands ol bank uotes, under the old system, which were worth protesiiu? But. uot con tent witu assail. tig the Natioual bank uote. he advocates tue substitution ol the greenback. He would establish a power at Washington controlling tbe eurreucv ol the people, sunject to all the dunces tiiat arise Irum political mutations, under the plea that ii would be cheuoer. He would swell the avenues of tiade witu pieces of paper having no value, but a promise to pay money bv the Treasury, when back ol it be kuows would be no capital to cover it. Every merchant would know that the time might come wneu the gnral central uau'.C at Washington luighl be embarrassed, could not pay its uotes oil demand, and then would come a flood ol etuoarrassiiieiil that can o'ly be imagined. Instead of having a finan cial system uaTiug its headquarters iu every town, wi h the people of li.at to n as stock holders to watch Its cou-liiiou, he would des troy Ibis perfect means ol prolevUou because il costs something! Auotbcr burden of Mr. Spcer's speech Is the comparative expense ol rttumtig tiie S ate aud Natioual Gov- rmueuts. His coiupah.-ou savor ol the logic ot the lather when he complains to his wife that ll is vastly more expensive to su port a dozcu chUdreu than oue. His sad coui piaiut about the increase of the expense ol the Legislature at the present time does uot nien tiou the tact that the numbers were largely increased by the last Coustiiu.ionul Conven tion, and which the Dcuiucrats approved by llieir Votes. He does uoi uietitiou the tact thai ttie expenditure upou the Captiol buildings at Uairtsburg were au-olulciy necessary to ac commodate this increased uutuuer of Repre sentatives. Thun the objection is made that the salary of the Governor ol the great Siateof Pennsylvania has been raised to SK'.tW'tl! Vet Mr. Spcer knows that it is no uncommon thing lor a good lawyer like liiiucll to receive a single lee of that amoiiut. He knows that there are thousands of mere hauls wno think that a small sum for their lime and trouble lor a year's buiurss, yet, lor the executive aoility demanded in the Chief Magistrate of a State, he tniuk Slll.OOU a great exiravagance. Takiug Mr. dpeer' sjieech as a whole, he de mands the reinstatement of the power that it cost this couutry million to destroy. He de mauds the establishment of a currency With nothing to back it. He iudu.ges iu keueral tirade against tue Government mat is vastly lu.r. ased iu machinery and consequently i.i exueuac and Would atu back", to Uium wucu lut fired at it first it tried to escape, but large ball striking against the softer cabin were our home. To cry down the erection of elaborate public buildings is to resist tbe advance of tbe arts and the proper educa tion of a better public taste, it is but the old cry of the demagogue who would measure the people by the cheap cry of dollars and cents, suppressing" the fact that if a people is ever to be anything It must expect to pay lor it. We call upon the people to resist the advance of dishonest currency, dlsbnntst idea, and misstated facts. The evil of the day is the politics! unrest that has been caused by the ambition for place and ower of the enemies of the country. We rail upon all members of the party to uui'e tn meet the advance of deluded men who, blind to the tact that their leaders are blind, are set king their own ruin and com mon disaster. Only In the triumph of tbe Republican party can we hope to return to a r-'ate of prosperity. Ouly by I he defeat of the two parties that are by different roads advanc ing tn strike at the interest of the people can we ever bone to see the thousands of workmen now idle enjoying the fruit of labor. Honest money, honest Government, and tbe faith I ul earning out of contracts, are the principle upon which the Republican party goes into this straggle. Money that 1 uo money and tbe violation of sai-rcd obligations are what the opioslrg parlies advocate. That there canbe any doubt of choice among these there parties by upright houorable men. we do not believe. THE NEW PARTY. Iu no other cnun'ry. Mexico excepted, tines the magic wand of politician cause so many parties to spring intoexistenreis in ours, and in tew other government are the new particsso short-lived. Then. ai y that have been organized o! late years have flourished only for a limited time their existence being or the mushroom style. There are alwavs enough of sore-heads and disapnoiuted oftice-set-kers to be readv on the eve or nearly evert S'ato- election, and es pecially in ail our Gubernatorial campaigns, to organize a new party. In the main, these side-show performances are founded upon some impracticable theory in the science or govrrutnent, or based upon mere abstraction. Sometimes ther proless wonderful svmpa'hy with some question of morals, and herald themselves to the world as purely reformative Institutions, thus appealing for support to the moral sense of voters. Henre a tidal-wave or temperance Is frequently subsidized in their in terest. Then, again, their sympathies go out iu tiie direction of those engaged in agricultu ral pursuit.-; and their manipulators join in the refrain, "I want to be a granger, and with the grangifTs live." At such times these re luriuers, made up largely of played-out politi cians, go to granger gatherings with hay-seed in their bair, and witb an unmistakable seedy swagger and apearaure. But losing all Interest in farmers, with sud denness that surprise the granger organiza tion, t.iey now bend all Iheir eflorts to rescue workingmen In shops, mills and mines from the t reed and oppression of their employers. l'Ucse fittul and spasmodic leanings, first in one direction aud theu iu another, assume the form and character of a constantly varying disease; aud just now some lawyers,Uocloraud preach ers have it bad. Never were their feelings so enlisted iu behalf of tbe toiling multitude, and never, perhaps, was there a finer exhibition of disinterested benevolence than is shown by these professional svm j-athizcr. All the re muneration d-manded in some county, State, or National cilice. "Just send us to the county seat, or to the State Capitol, or to Washing ton City, anil we will right all your wrougs," say flu e truly good nieu. lint is it not well to pause and consider be fore responding to such benevolent requests? Is It not the pitrt of wisdom to look into the probable practical workings of this new party, yciepcl " Ine National Greeuback-Labor par ty !"' bat's it object! What great blessing is it to secure? The general promise Is to increase the vol ume of our circulating medium, or in other and plaiuer words, give us more money. We have wheat enough, corn, oats and potatoes enough, clothing coougu iu a word, produce and merchandise, and manufactured articles aoouud: therelure to briug about au era of un precedented good times, all that is waul ed Is plenty of niouey. While we have everything else in great abundance, money is scarce. Nou'. does it not logically follow that our only w ant is niouey? Put into circulation more promises to pay with greeu on their backs, sav our Greeiibackers, and times will corre spondingly improved. That seems to be rational and logical. Why, It is most manifest that it we bad ten limes as much money in circulation here iu Johnstown, times would be just ten tunes as good! lint before jumping at a conclusion, let us lookwil tiie whole question in the light of our past history. Tne probability is that a dispas siuuate coL-si Jeratlou of the Greenback theory may develop some rather awkward aud as tou.iding tacts. The leaders in this new party claim that all that is necessary to make niouey is a piece of paficx with a GoVeruiuent stamp, containing the statement that it Is good tor one or two, five or Uu, fifty or one hundred dollars. Gold and silvet being retired, these notes are never to be redeemed; or, il redeemed, the time is fixed in a Very remote period, or made to depend on a contingency. This was the kiud of money iu circulation in the early history ot our couulry, iu good old Continental times, which became so utterly worthless as to originate the sayiug, "not worth a continental cent." But coining down .to our times, il is well kuown one portion of our country has recently experiiucul.-d with this kind ot money. Gold auii silver thev bad nol, but pajier money was put in ctrculaliou by the many millious; aud the Coult-dcracy did not put tiie date of re demption away nt! into the lar distant future, but limited it to six mouths alter gaining inde pendence. As a coleiuporarv puts It, these notes became a permanent symbol of the "absolute" money the Greeiibackers of to-day-prate about so loudly. The study of the rapid depreciatlcuof thisCoulederate money lurnU-bes a lesson th-tt ouibt uot to be overlooked. In January. 1"?, " took $120 to buy $100 in gold: in August il required $?00; ou the 1st ol January, it look SJ10; out a year later it required il.iOO; aud oue year laler, 5,400; and another year ran It down so low thai 5,500 had to be paid for $loi in gold, until anally millious ol tbe valueless truck could uot purchase a golden dollar. but ilid not this great abundance of a circu lating ihcUiuiu make good times? Did ii uot cheapen everything? Let us see how it worked. Tne laborer, the tradesman, the farmer and tbe soldier, all had money had it iu abundance. Foraliule while a pair of shoes could be bought lor flit, and a pound of coffee lor $1: but the shoes soon ran up to $'J00, aud the pound of entice to $12 and This nioi.-y was a full legal tender for all debts, public and private, acd yet fifty dollars ol it. was not au -quiialeut to lilty cents in sil ver. Let the lagartes of Greetibackers prevail and Lolhln; w ill li.ssi-ss auy Taiuc, excepting ttie giMnis ou merchants' counters, and the thoroughly retired gold and silver. Will nut the honest men ol onr country look at history, and take its lacts rather than the theories ol "lelonueisl'"' Johiut'icH Trifmue, WilAT TO DO. Every thoughtful Republican must realize thai it is ol the highest importance to elect a uinjonty of members of tbe nets House ot Representatives. The Senate has been lost. For some years the Democrats w ill control that body, ll tuey can also secure coutrol of the House, the consequences may be much more serious than men ordinarily expect. It wiil be held that, ttie people, by the election ol a luajoriiy of Democrats, have given fresh aud dcUuile instructioua iu lavor ol Ihe revolution ary measures attempted by the last Congress, or proposed iu the platforms ol that party in the Stales. Every vicious and daugcrous elemeut iu that party will be encouraged: the more conservative and honest men, w ho have saved the couutry Irotu incalculable evils by their steadfast resistance, w ill oe disheartened. Tne worst measuresof repudiation or inilaliou would tbcu be thought to have the stamp of direct popular approval; shameless jobs like the last River and Harbor bill will seem to be nol only excused but rewarded: Southern claims by tbe huudrrd will be pressed with renewed con fidence aud greater hope of success; and the revolutionary schemes, which caused the creation of the Potter Committee, will be kiudled into new life. Botb the sessions of syOugress which occur next winter, and - the first sessiou ot the new Congress, will then be come iu the last degree dangerous to tiie pub lic weilareaud peace. These ttaiiifuia axe not . - - V -.- art S. ,4. !, . atu 11 l.4f.IS tient wave of the hand. "I heard you, and I don't care to know Mr. ." imaginary but real, as the country learned when its industry and commerce were pros trated for many weary month by tbe repudiat ing aud revolutionary threat of the last Con gress. They can be averted only by tbe elec tion of a Republican House. The Republican cannot expect public confi dence hereafter unless they devote the mselvea inrerely and earnestly to the work of pro tecting the public interest. But those interest ran be protected, at thts time, only by a hearty and united effort to secure tbe election of Republican Congressmen. He is an enemy of tbe party and of tbe public welfare who endanger the deleat of a Republican candi date lor Congress in any d'strk t. either by squabble over a nomination or its method, or by pitiful wrangle concerning local offices. Tbe wbole strength of the party ought to be concentrated upon the election of members of Congress, that a repudiating and revolutionary iN-niocracc, ruled by a solid South, inav not get power to bankrupt the country, to dishonor it, or lo disturb its peace. This is the first and highest duty, for which every patriotic citizen and every true Republican ought to be ready lo sacrifice personal likes and dislikes, ambi tions and grudges. He who doe not bis duty in this respect, whether friend or foe of the Administration, does not deserve well of tbe party nor of the country. It is practicable to deprive the Democratic party of control of the House. It is true that party has a nearly solid support at the Soifth. and w ill need not many members from Northern States to give it a majority. Conciliation has not prevented the virtual disfranchisement of colored Republicans by law. iu some Southern States, nor the continuance of that terrorism which makes it a waste of time and of innocent lives to commence a struggle in others, nor the organization of Confederate cavalry and arlit 1 ry, as in Phillips connty, Arkansas, to rapture dis'ricts iu which tbe legitimate Republican majority is counted by thousands. So much the greater need of Republican unity and determined effort at the North. Nor are encouraging signs lacking. In very many doubtlu districts, the C.cenback movement, which Democratic demagogues bave fostered so Inn;, will draw from the Democratic candidate a great number of Totes. Tbe more tbe tiuancial issue are forced upon tbe atten tion ol sober, intelligent and conservative citi zens, tbe more the Republican party will gaiu la strength. Democratic disgust at tbe con duct of members of the last Congress has caused the deleat of a surprising number of those members In their efforts for re-nomination, and tbe insatiable greed of aspirant bas produced serious divisou iu several districts. But Repub licans cannot expect to win unless they are uuited, resolute, and willing to sacrifice per sonal Interests and feeling lo the public good. -Yew York Tribu ne. A CLEAR STATEMENT. From a Specrb by Chester X. Fair, at Myerstowa, losoauon 4'uuaty, October 4. It It said that the Republican have largely increased the expeuse ot the State. In the Andilor-Gcneral' report of I860 and 1.., botb of Democratic officials, the expenses of government are given at frt01,i3.-U lor and tl,3l:;.'J7i;.ni for 177. It is therefore a tact thai tbe expenses of the State Government bave been trebled since 100. Whether the ex travagance of Republican rule was the cause of the increase the following facts will show. The Constitution of 1174 may have given us a bet ter, but it certainly gave us a more expensive system of government; at least, until tbe bieh n.al si ssion begin. Besides a million dollar which it requires to be annually appropriated to the public schools, it increased the ordinary machinery of goveruineut as follows: lssn. s77. Governor and Tleausof Departments., ll 14 Members of Legislature 103 Sal liitlges 4.v ll Clerks, liepartnieuul aud Legislative.. 77 iss Total ti.4 There were twenty-six Judicial districts In lssn; there are forty-limr in 1677. Of the increased clerical force, the Legisla ture contributed fitty-tbrre, and tbe new De partment ot Internal Atlairs. organized and conducted by a ltemocralic official, eleven. One-half of the excess of tbe expenditure of 177 over those of 1 '), is therefore due to the cost of the routine ol government, which the New Constitution almost exactly doubled. but that instrument, by enjoining addi tional printing and advertising, and the num ber of reports au" public documents required by a larger Legislature and constituency, bave also largely increased the bill for State print ing. So that, in 1S77, the State printing and advertising cost i'.'1.7".,0 79, or trtl.07y.03 more than in 1 '. $on.oril).16 of the amount of 177 wss paid to a Democrat. In 174 the pay or Legislator was increased to $1,000 per annum, thereby adding largely to the expenses ot tbe State. CSI members, la 177. at ft. 000 per annum, fr-l.t""" -Si nieuiheis, iu Is7u, at tujupcr anuuin.... l"4.suo li.4 Senator Dill, theu a member of the Senate, voted tor the increase of the pay of tbe Legis lature, although he voted agaiust the increase of the Governor's salary. It does not lie on his lips, or those of bis representatives or par tisans to censure the Increase of the salaries of others when he voted lo so generously increase his own. These two amounts foot up $151,479.0:;, leav ing $-l.o70. 10 increase ol cxeuditurea. not accounted for by the change of government aud the extra compensation to members ot the Legislature, both of which measure Senator Dill and his party advocated and voted tor. Leaving out tbe officer" created by tbe new Constitution, the iucrease of salaries (other thau the members included above j ha been as follows: t.overnor and tieals of ftepartntaats...........rJ0.is .In.lues tw. son t leras 37.T04 T..tal 1S7.S04 The benefits of this increase have accrued alike to Democrats aud Republicans, for more than one-half or the Department ofllce aud clerkships and probably as large a proportion r judgrsiiis, are held by members of tbe Dem ocratic party. lu 1 , the population of Pennsylvania was 2.90.::7o; in 177. calculated ou tbe census ol 170, at the uniform rate of increase of -1 percetitum every decade, it was 4,200,000. The mileage and stationery of Senator and Repre sentatives in 1KW were 1,413.90; in 1970 thev were l.tJl.:l, or $..535.03 above the double of I, which represent the natural increase of correspondence with a larger constituency. The rxfieuses ol the Deportment or Soldiers Orphans Schools, made necessary by the war, amounting to $lo..s.'S.!M, is also included in the ext-euuitures ol 170. '1 he rise ol the oil interest and the growth of the manufacturing, mining and agricultural in dustries of tbe State in these seventeen year, and the Increased contingent expense ot the departments required by an increased constitu ency and the extension of tbe public school system, will readily account for the remaining lorty od-1 thousand dollars, as tbe increased im portatice aud dignity ot the office, with cor responding expenses and labor, will justify tbe iucrease ol salaries. Fiually, it is not to be forgotten that tbe price of ail articles, eoal, fuel, atationery. pa per, labor, etc., cost the State as well a indi viduals twenty-five to fifty per cent- more In 177 than In lStiO. When all these things are taken Into consid eration, the iucrease of the machinery of gov ernment, tbe growth of the State, and the greater cost of labor and material, it will be seen that, in spite of the increase of salaries, the Republican administration of 1877 has actually been more economical than the Demo cratic administration of 110. The workingman who ha saved little for his family against s raiuy day indeed, all honest and intelligent men must look with disfavor on the issue of rag money. Tbe idle, vicious aud ignorant of course will vote for an unlimited supply of irredeemable paper. But as honest real money 1 the only Mire founda tion, tbe true principle that should govern any political party, and as the Republican party unwaveringly advocate hard money, we feel pursuadrd the cause must win. Repudiation wiil be beaten and honor muat triumph im tbe contest. JanciMUr Examiner. Oi d Lycoming connty is waklof tip (rwadl for honest government, and the Republican are waging the contest in a manner that cannot tail to produce good result at the apuroachlnu eiectaou. .ei. -- - Kodolphe a pretty name, to begin with was the fairest ladv in all Egypt. 041 1 or .th ....... tJ ttijury lAf, wun 'positive ben Among the causes of death in hot wet er ice water is never mentioned, j
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