I
!
Term of Publication.
Inn WATKmBona Rettiilicak, Office, In
Bayers' but UUwt, east of the Court Houk, 1 pub
lished every Wednesday morning, at II per
annum, m ahvajioh, or s if not paid with
in the year. AllauKacrlpiloa accounts near
baaaltlfxl ally. No paper will be aant
out or the Btaio aniens paid tor in adtac4, and
all auch subscriptions will Invariably be dlseon
tlnued at the expiration of the time for which
they nrepadl. . t
I'ninmunlcatlnnann aubjeetsnf local nrgeneral
interest are respectfully sollelted. To ensure
attenUon favors of thin kind moat Invariably lie
aeeompanled by the mime of the author, mil for
punlteattini, but on guaranty aualiiat lniixMlMoni
Allliittuni perLtlnlnif to hiwlnouof the ullluo
mnst baaddreaiied to the Kditor
goctvy.
'" , ' THE HOT E4SIX.
'' t ; . i - . , -
The folks that on the first of May :
Wort undtr-coats and hose:
Began to aay. the flratof June, r
"Oood fjord I how hot It grow !"
At hut twa Fahrenheit blew up,
- And killed two children small.
And one barometer shot dead
A tutor with Ha bull.
Mow all day long, the locusts' sing
Among the leades tree, -Three
new hotel) warped Inside out
Their pumps could only wheeze :
Aad ripe old wine that twenty yean
Had cobwoliued o'er In vain '
C.imn (pouting through the rotten cask!
I.Ike July's boat ohainpalgne 1
Tne Worcester locomotives did
Their trips In half an hour;
The Lowell can rau forty Miles
Before they cheelcod their power ;
Roll brimstone soon became a drug,
And loco-focoa fell ;
All asked for lee, but everywhere
Ballpeter was to s r 11.
Plump men of mornings ordered tights:
Utitere thesuori'lilng noons.
Their candle m lds had itmwn as looso
Aa Cossack pnutaloona I
The dogs ran mud men could not try
If water they would choose;
A horse fell dead ho only li ft
Kour red-hot, rusty shoes.
llat soon the people could not bear
The slightest hint of tiro ;
Aluslons to caloric drew
A flood Of savnge Are
The leave on heat were all torn out
Front every book at school,
And ninny blackguards kicked and caned
Because they said, "Keep cool."
The gas light companies were mobbed.
The bakers nil were shot ;
The penny press begun to talk
Of lynching Doctor Nott ;
And all about the warehouse aUips
Were angry mon In droves,
Crashing and splintering through the doors,
To smash the patent stoves,
Thnabollllon men and mnlds
Were tanned to such a hue
You scarce could tell them from their friends
Unless their eyes were blue ;
And, when I luft, society
Had burst Its ancient guards,
And rirattle street and Temple Place
Were Interchanging cards.
BOHXFAll. or THE AHS Villi. -
1 The Ohloan came down like a wolf on the fold,
And his Kscort.was teeming with greenbacks
and gold.
And the sound of their cheers was Uko thunder
at sea.
When the ballots flew lightly o'er packed Tum
inaneR, Idkelhe leavvs of the forest when Hummer Is
green,
That host betting freely nt sunset was recn ;
Like the leaves of the forest when Autumn
huth blown.
That Escort next morning was slaughtered and
atrowu.
For Hie spirit of Wall-street rode forth on the
blast.
And but tun-holed many a Western innufuat;
Uold, greenbacks and drinks were piled early
and Into,
Till the poor, tempted delegates yielded to fate.
And poor Cincinnati Is loud In her wail.
And tlieaporU are all "broke " who went Pen
dleton V'hall ;"
For the might of "Young Greenbacks" unsmole
by the sword.
llath melted like snow nnd hath gone by the
board.
COXSTITl'TIOXOIAKER.
Johnson lias fairly earned the above
title, strangely paradoxical as it may
seem "with liis known hatred to the
"Radical tinkers" in Congress. It is
said that he wants, in a recent mess
age, to have a new instrument, one
that can be harmonized with "My
policy," and, ruoxlcsty exemplified! he
wants to be President six years in
stead of four! The President has
certainly been using the following an
tidote for ennui these sultry summer
months:
Hps. vln. Otard I I.
Raecharum WhltenmMashuin q a.
Aqnacongealata. ..-q a.
.Sllntom Someurn 8 spga.
tthakeum I.lkellum... q s.
ftuckum Uirougrlum ad lib.
Btrawum clongatum .. 1
THE VETO.
. Tito President returnetl the Electo
ral College bill to the Senate on the
20th, with his objections. It is the
old cr of "the Union never divided,"
and another bid for Revolution. His
argument is childish, making it very
evident that he fast approaches his
dotage, mm everything. The Senate
repassed the bill over the President s
veto bva vote of 35 to 8. In the
House the veto message was passed by
ft strict party vote, without debate.
It was only one hour and a half going
through both Houses.
VfaES the news of the nomination
of Seymour and Blair reached Wooster,
Ohio, the nnterrified thereabout fired
a salute in honor of the event, and
pointed the cannon toward the North,
whoreataGrant man standing near qui
etly observed that they were "firing
tbo same way .they did during the
war." . :- - i "
" The ratification of the 14th Article
ef the Constitution by Georgia makes
thirty States and its establishment as J
a law good, even if New Jersey and
Ohio reverse their aotion. Congress
has so announced it through Secretary
pward,
t'ffl " WW' ft ,,ro"1'-,i' M"""7 "r- I,'
JAS. E. SAYEUS,
VOL. XII.
. For the RepobUcati.
MORAL VIEW Or REVl'DIATIO.t.
There is evidently a strong feeling
in the country in favor of paying the
debt in greenbacks; even in the Re
publican party are found some who
advocate this. The people are in an
unsettled, uneasy condition. They
have not thought enough on the sub
ject to make up their minds fairly. It
would be best if this quastion were
not decided in the heat of a political
campaign, but left to the sober deci
sion of the Supremo Courts. To eve
ry question there is a moral side, and
we propose to look for a while at that
side ot repudiation.
Unfortunately, we have not now
nny "greenbacks" about u. But if
we understand the subject, these notes
declare on their face that they are re
deemable in gold, and also that the
interest on certain bonds is paid with
gold. Now, so far as we know, the
nation gave its unqualified consent to
the issue of these bonds. It was also
the original np'u-'d, as well as Idler of
the law,to thus pay the interest on these
notes. This much, then, is fairly es
tablishedto refuse to pay the bonds
in gold would be a violation of the
given pledge, a breaking of the spirit
and letter of the law by which they are
issued. You niny call repudiation by
whatever name you please, but looking
at it in a moral light, it is nothing but
disuoxesty. The case is precisely
similar to that of a msrehant refusing
to pay the interest on a note given for
goods, in the money he had pledged
himself to pay it in.
A nation is made up of individuals,
aud while it is true that tho character
of the nation will bo directly a9 the
character of the individuals composing
it, it is also true that the character of
the individuals is measured by the
character of the nation. Therefore, if
wo .as a nation, show ourselves to be
dishonest, it will prove that we are
dishonest as individual. If as a na
tion vc refuse to pay an honest and
honorable debt, how can wo individ
ually pay an honest debt? Where
will be all the obligations, that are
held sacred, by even heathen nations,
f we adopt Repudiation ? Mark our
words, if the time ever comes when
our publia faith is broken, then our
private faith will go to tho winds as
well. What security could we give to
other nations if we repudiate our debt?
If we wish to purchase land from
them, and would ofl'er tliem annual
payments with interest in gold, would
they not say you proved dishonest
with yourselves, and wc will not trust
you ? Would wo not at least earn the
title, given to tho ancient Carthago
nians, of "treaty-breakers?" We know
not how soon our government may be
under the necessity of asking for an
other loan. If wo repudiate, whore
would we get it? Who would rely
upon our word, and trust their money
on our promises, however solemnly
given ? Even barbarians would point
the finger of scorn at us, and say, stop
sending us tho Bible, heal thyself.
Xo Christian can advocate Humilia
tion. It is directly opposed to every
principle of Christianity, and to every
system of morality in tho universe.
This is but one view of the subject.
We will speak further upon it.
Ex-D.
ny REqi'EMT or citizens.
Delivered by Mr. B. Frank. Flrnnlkrn,
Jnly 4. I HUH, before the 4 lllicua ol
Wayneblmrg and tne I. O. or 1. T.
Mn. President, Friends of Lib
erty : As we are assembled here to
day in accordance with time honored
custom however familiarized by fre
quent recurrence, none of us can ever
contemplate it with feelings of indif
ference. So pregnant with momen
tous consequences, to the world have
been and still continue the events
which are recalled by this days obser
vance that memory and imagina
tion are alike fired in dwelling upon
thepast and shaping the future.
It was on this day ninety-two years
ago the Congress oi America resolved:
That the time had come when it was
necessary for our people to dissolve
the political bands which had connec
ted them with atiothcr, and to assume
among the powers of earth theseperate
and equal station to which the laws of
nature and of nature's God entitled
them.
It was on this day when John
Adams, the Collossus of that Congress,
as Jefferson calls him, in that moment
of darkness, of terror, and of conster
nation, when the election Mas to be
made between an attempt at liberty
and independence on the one hand,
and defeat, subjugation and death on
the other, the courage of Adams, in
the true spirit of heroism, rose in pro
portion to the dangers which pressed
around him and poured forth the only
genuine eloquence the eloquence of
me BQWf wntco movvu " nearers in
i .na-s ... r 7nv w v t 1 ri
' FIRMNESS IN THE UK
VAYNESlJxJitG,
their seats and brought the gallant
ship of the uation safe into port. On
this day forty-two years ago John
Adams and Thomas Jellerson appeared
before their God. The. hand that
traced the Charter of Independence is
indeed motionless, the eloqrient lips
that sustained it are hushed; but the
lofty spirits that conceived, resolved,
and maintained it, and which alone to
such men, make it "life to live,"
these cannot expire. i
"These shall resist the empireof d icnv,
When time Is o'er and worlds have pasued away;
fold In the dust the perished heart may He,
Hut that which wanned It once can never die'"
It was on this day thirty-seven' years
ago that Jaiiies MonnJe, fifth Presi
dent of the United States paid tho
debt of nature. What a strange co
incidence that on the birth day of
American liberty has happened the
noblest iichievmcnts and the saddest
calamities of American history. : The
same bell that rung to bear the glad
tidings of the declaration of indepen
dence on the 4th of July, 177(1, tidied
on the 4th of July for the second, third
and fifth Presidents of the United
States. The hand that penned the
document, the eloquent lips that sus
tained it, and the last services of the
men who framed our institutions) till
resigned their souls to God on the day
that the American people severed the
cord that bound tliein to Briiish ty
ranny. The same journals that hoist
ed the eagle, the emblem of America,
in rejoicing over her victories, on the
same day draped their columns in
mourning at the ruling of Providence.
Yet, notwithstanding the rulings of 1111
all-wise Providence has caused at times
sorrow in our land on this national
birth day, the victories of our armies,
the reformation ol our citizens, together
with tho continued nierenso of our ter
ritory niul rank nnioiio; the nations of
earth, compels ns to rejoice instead of
mount. All along tho lino of our
progress arc connected with this day
of rejoicing, events of great nationnl
importance. Tho cause which we
come to commemorate points to the
fourth day of July, 1843, as n day of
noble acliievments, and in our last
great struggle for libcrtv, this (lav
was mado memorable bv deeds of
heroic daring;. On this dav 5 years
ago the rebel forces at YiVksbun; sur
rendered to the unconditional Grant.
The same dav on the sacred soil of our
own Pennsylvania, was acquired a
national victory that surpassed in blood
and carnage tho field of Waterloo.
But why narrate tho events of tho day,
when every day since the formation of
our Government has been worthy sub
jects for consideration. Previous to
this day 92 years ago, the Ameri
cans claimed to bn colonics under tho
rule of Great lirittian. Then tho
United States were thirteen in number
and stretched along the shores of the
Atlantic? Now we look across the
Atlantic fltcc to fiico with Great I'rit
tnin nnd Europe. Ivpml in science,
equal in art, equal in knowledge niul
almost equal in territory to Great Brit
tain and the whole contincntof Europe.
Timo however will not permit of n des
cription of our extent. But wo wcl
como you to the blessing of good
govermcnt, and religious liberty, we
welcome you to tho treasures of science
and the delights of learning, we wel
come you to the transeendant sweets
of domestic lil'u to the happiness-' of
kindred, of parent and ot children,
welcome you to tho ininiensiirate
blessings of rational existence, the
immortal hope of Christianity and the
light of everlasting truth.
Ve omit the rest of the gentleman's
remarks on the, subject of Temperance
for want of space. Ki.
residential lllds.
The llmtord Voil says: "The bid
ding for the nomination of Tammany
Hall was for a long tima quite spirited,
and ran thus: Pendleton's bid wa?.
An easy way t.i Rcpudiaiion. Han
cock bid, "New Orleans." A. John
son bid, "Seven Vetoes a circular
swing the ears of a mulo and the
head of a pig." Chase's bid was, ''Dead
Ishoos.' Hendricks bid was only a
wink, which is said to be 'as good as,
nod to a blind horse.' English bid,
'The Laboring Clasjes Eight Hours
a Day's work the New-England
Front Broken, and Sinews of war for
tho Campaign.' Blair bid, 'Military
Interference with . the Reconstructed
State Governments.' . Parker bid'
'The good will of Camden and Araboy.'
uooiittic old, 'l lie support orthc en
tire Johnson party, including Dixon.
Church bid, 'ThcSmilo of Samuel J.
Tildcn.' Reverdy Johnson bid, 'Mary
land, ray marvland.' Tom Ewing bid,
'Obscurity.' J. Q. Adams "bid, 'His
lather anil grandtatliur, and an ances
try reaching back to Adam's fall.'
Horatio Seymours was the last and
best bid of all. He bid good-by to
his 'honor,' and tho. nomination 'was
knocked down to him."
Enlliuslaatle roieUeall.
I'm taking up a subscription to fire
a salute over tho nomination of Sey
mour, irive ua a dollar: Lttaxc Dem
ocrat " Want to shoot, do vou?" Cou-
pcrltead" Of course we do!? Ouuie
Democrat "Shoot! why. the,d-l. man?
shooting is just, what Seymour is most
atraiu ot. . Yon will suit him better,
if you are his 'friends,' if you butcher a
nigger and burn a hospital or t'vol'j
PeN'NSYT.VAVIA was invnrltvl hv tho
rebels July 1, 1863 : New York, July
' ! : "-' . : , ,
1IT A3 001) GIVES tS TO SEE TTIlf
FENNA., WEDNESDAY, JULY .21), 1S0S.
TAXA'flOJI Of rXIl'KDsTATK.S UO.IS.
' '.. I . ; 1. t -I .
Hpcveh of Mr. Illatne of Mnlne. i .
. The following speech was (Jeliverd
by Mr. Blaine, of1 Maiuc jn.tho House
of Representatives June 23, 18G3 1
Mr. Blaink. The facts that the
bonds of the United States are exemp
ted from State and municiiul taxation
juts created . a ..wide-spread discouteut
among the people, aud tho belief pre
vails quite generally that it tins ex
emption could be removed the local
burdens of tho tax-payer would be im
mediately and essentially lighted. Ma
nv persons assert this belief from i
spirit of mischievous deniagogism,
and many do from sincere and consci
entious conviction. To the latter class
I would Leg to- submit some facts and
suggestions which may greatly mod
ify, if not entirely change their conclusions'.-
Tho total gold-Ufcariug debt of1 tho
United States, the conversion of seven
thirties completed, amounts to a little
more than , twenty-one hundred mil
lion dollars ; of this stun total some
thing over two hundred million dol
lars draw but live per cent, interest, n
ratu not siUliciontly high to provoke
hostility or suggest; tho necessity of
taxation. Jiuleed.it may bo salcly
said that thero , never has; been nny
popular dissatisfaction with regard to
to tho non-taxation of the live per
cent., it being agreed by common con
sent that such a rate of interest was
not unreasonable on a loan negotiated
at such a time.
The agitation may, there, lie regard
ed as substantially confined to the six
per cent, gold-bearing bonds, which
amount to rlio largo aggregate of nine
teen hundred million dollars. Many
pcuplu honestly, but thoughtlessly,
believe that if this class pf bonds
could bo taxed by local authority the
whole vast volume represented by
them would at once be added to tho
lists of the assessor. 'It is my purpose
to show very briefly that this conclu
sion is totally unfounded and erron
eous, and that if tho right of local tax
ation existed in its fullest and amplest
extent, but n minor fraction of the total
amount of bonds could by possibility
be subjected to any more local tax than
they already pay.
The entire amount of tho bonds, as
I have stated, is nineteen hundred
million dollars; nnd of this total, by
the best and most careful estimates at
tainable, at least six hundred and fifty
millions arc now held in iMirope. This
amount could not therefore, be reach
ed by any system of local, taxation,
however extended, thorough and
searching. Deducting the amount as
held abroad wc find the amount held
at home is reduced to twelve hundred
and fifty million dollars.
But of this twelve hundred mid fifty
millions more than one-thir l, or to
speak with accuracy, about four hun
dred and twenty-fivo millions arc held
by the national banks, mid no form of
property itho whole .United Suites
pays so largo a tax, both local and
general, as these banks. Tho stock,
the depositories, nnd the deposits
which these four hundred and twenty-!
live millions of bonds represent pay
full local tax at the highest rate, be
besides a national tax averaging about
two and a half percent. Were the
power of local taxation inado specific
and absolute on these bonds, they
could not yield 'a dollar more than is
now realized in that direction. It
thus follows that the twelve hundred
and fifty million of bonds in this
country, presumptively escaping local
taxation, must be reduced by t!.c
amount represented by the banks, and
hence wo find the aggregate fails
to eight hundred and twenty-five mil
lions, f
The reduction, however, goes still
father, for it must be remembered that
the s.tvings-banksof this country have
invested their deposits in these Iwnds
to tho amount of one hundred and
seventy-five millions, "in some States
by local law the deposits of savings
banks arc exempt from taxation, as
an incentive to thrift and economy.
In other States, whero these deposits
nre taxed, as in Connecticut, it has
liecnhcld by judicial decision that the
fact of their investment in United
States bonds docs not exempt them from
taxation. Hence these one hundred
and seventy-five millions, thus invest
ed in savings-baiiks'deposits, arc cith
er locally taxable, or if exempt, it is
by State law and not by virtue ot thr
general exemption of the bonds. It
thus follows that the eight IpiiHlred:
nnd twcnty-Jlvc millions must be fur
ther reduced by tins sum nt one hund
red and fifty millions not already
embraced within the scope of local tax
ation. .
But there is still a further reduc
tion of thirty millions held by the life
insurance companies and held on pre
cisely tho same terms as the deposits
of savings-banks that is either taxed
locally, or, if exempted, deriving the
exemption from tho local law.. The
surplus earnings and reserves of these
life insiirauce companiw invested to
the extent of thirty millions in Uni
ted States bonds are Just os open- to
taxation when invested in that form as
though they wera in State or rail
road securities. . Italujlipg these thir
ty millions we find the untaxed bonds
reduced to six hundred and twenty
millions. ' i i , Hi
And still thero is another large re
duction; for the fire juarine insurance
companies and tho anpuitv andf( trust
companies and other eoijwatioris
.. : 'i i
liRlIIT. LinCollC "',."', ' '.
which cannot readily be classed, hold
ill the aggregate over one hundred aud
twenty-live million of bonihvnud these
are held on precisely tho same, basis as
those hJd by' tho savings-haaW nnd
the lil'u insurance companies. These
numerous corporations have their capi
tal stock, their, reserves and the sur
plus earnings invested in Government
bonds to tho extent named, and ' they
. .1 n 43 . ... -J
arc in tins lorm nst as open to taxa
tion and are actually taxed just as
much ns though they wore iu vested iu
nny other form of security. Making
fhe deduction of this one hundred nnd
twenty-live millions we find i remain
ing but four hundred, and seventv-five
millions ol the six per cent, gold bear
ing bonds that are not already practic
ally subjected to local taxation. Al
lowing for the possibility that one
liundreJ millions ot the live per cents,
are held instead of six per cents, in all
the channels of investment' I have
named, and it follows that nt tho out
side figure thero aro to day in the
whole country, less than six hundred
millions Government sixes, not fell
subjected to tho power of local taxa
tion. And these six hundred millions
are rapidly growing lessns the various
corporate institution.', I have named
continue to invest their funds more nnd
more in' tho bonds. These institutions
desire a security that is of steady value
not liable to great fluchiat ion, aud at
all times convertable into money ; and
hence they seek Government bonus
in preference to nny other form of in
vestment. Tho high premiums on the
bonds induces individuals to part with
them and hence they arc readily trans
ferred to corporate ownership, where
they become in ell'ect at once liable to
loeid taxation nnd ftro no longer ob
noxious to tho charge of evading or
escaping thcirjust share ol municipal
burden. , I n the hands of tho individ
uals the bonds may bo' eoiieehled 'but
iti the possession' of corporations con
oeuhlicut is necessarily impossible.
If these statistical statements needed
nny .verification it would o supplied
by an examination of the income re
turns recently made under oath and
'published in all the largo cities of the
country, disclosing the lact that 'the
amount of bonds hold by the Wealthy
men .of tho .country has been contin
ually growing less, just as they have
been absorbed by foreign purchases
nnd by corporate investment. The
correct nesss of the income returns in
reference to the investment, iu bonds
will be accepted even by tho incredu
lous and the uncharitable, when it is
remembered that the interest of those
making them to exaggerate rather than
depreciate the respective amounts held
by t hem. . Instead then of nineteen
hundred millions of these bonds run
free of taxation it is clear' that less
than six hundred millions arc opcirto
that .charge less than one third of
the whole amount. Tho remainder,
largely more than two-thirds of the
whole, are cither held abroad w here
no local taxation can reach them, or
they are held nt homo iu such form
ns subjects them to local taxation.
And now let", us suppose that we
were in possession of tho full power to
tax by local authority these six hun
dred million of bonds prcsumfively
owned bv individuals ! Would we
realize anything from it ? On its face
the prospect might be fair and inviting
but in practice it would assuredly
prove delusive and deceptive. The
trouble would be that tho holders of
the bonds could not bo found. No
form of property is so easily concealed
none so readily trausfered back and
forth, none so 'difficult to trace to ac
tual ownership. Wc have "hundreds
of millions of State, bonds, city bonds,
mil railroad securities in this country
ind yet every one knows that it is
only an in fiuitessimnl proportion of this
vast investment that is ever represen
ted on the books of assessors and tax-
collectors. As a pertinent illustration
1 might cite the case ot tho bouds ol
my own State, of which there are over
five million in cxistenceto-day, largely
held ns a favorite investment by the
the citizens of Maine. Of this whole
sum I am safe in saying that scarcely
n dollar is found on the lists of any as
sessors in the State. And yet the fa
cility for concealing ownership in na
tional bonds is fiir greater than any
other form of security, and tho pro
portion in the hands of individuals
that would escape the assessment of lo
cal taxes may be inferred with reason
able certainty from the analogic I
Imvo, suggested and which arc tamilliar
toall who have given the least attention
to tne subject. Indeed, I venture to as
sert with confidence that if the power of
local taxation of these bonds were fully
accorded to-day, tfio tax lists of our
cities and towns woiild not bo increas
on an average of one per cent. Many
of those who -to-day may bo am
bitious of parading their bonds when
protected by what is dcimed an offen
sive exemption would suddenly have
none when the power of taxation ap
plied to them. . Indeed, the utter fail
ure to realize anything from this source
if tho power to test it were granted
would in tlx; end create more dissatis
faction than that exemption, which, in
theory, is oltensiye, but in practice is
absolutely of no consequence what
ever. ; : , . ' , 'ul' ';
' But it will be asked, "Why' dop't
vou tax the bonds by national authori
ty ?' Granted it will be urged that
the power of local taxation would be
nuTdtorv and valueness, "that, affords
all the stronger reasons for taxing the
bonds bv direct Congressional enact-
.;- . , I
EWTOU AND ruilLISIIELl.
" no; i7,
ir:
niont." . In answer to this I jmve on
ly to say th:tt a tax levied directly up
on the cbiipOn ii simply alt abatement
of interests, -and thut result fiih be'
reached in a better and more satisfacr
tory nnd more jiononibli; way. The
determination manilested by this Con
gress IniiT'b'y the great 'Republican
Convention tit Chicago to maintain
tho national' faith has already worked
a large: appreciation in the value of thd
bonds, and, with the strengthening of
our credit, which , results, from nn
honest nnd, high-toned policy, we will'
speedily be able to fund our debt on
a lower scale of interests running
down to five, four and a half, anil' 'Ul
timately to four per cent, per annum.
Should wc, proceed, however, in vio
lation of good faith nnd of the uniform
practice of civilized nations; to hold
back part of the Stipulated interest
instead of effecting an honorablo ex
change of bonds to the. mutual, ad
vantage of the. Government and the
public creditor, we should only pun
ish ourselves, produce calamitous re
sults in the business world, and per
manently? injure our national famo.
' f To withhold one per cent, of the
interest under the pleu of a national tax
this year might bo followed by with
holding two per renf. next year and
three percent, the year ensuing. To
enter upon such a policy would pro
duce nlurm at homo wide-spread dis
trust abroad, for every man holding
a bond-would havp' to count his rate
of .interest riot on 'what was stipnlated
in the contract, but oil what might be
the will and caprice of Congress In its
iimuml withholding of a portion of the
interest under tho pretense' of ft 'tax.
Under such a policy our bonds would
bo returned, upon us' froni ' Europe
with p.lnic-liko rapidity, nnd the drain
upon our spccic'resourccs would pro
duce nn immediate ' and disastrous
crisis' in ,' monetary 'circles. If even
one-half our bonds held in Europe
were suddenly sent homo! It would
drain us of two hundred and fifty mil
lions of specie, and the financial dis
tress throughout the length and breadth
ot the land Would be beyond calcula
tion or imagination. And yet that is
the precise result involved if wc
should follow the policy advocated by
those who urge us to tax the coupon
nnd withhold one or two per cent,
of tho interest. Bet us reject such
counsels, and adhere to tho straight
forward course dictated nliko bv good
policy and good faith. And let ns
never forget that in (ho language of
the Chicago platform, "the best policy
to diminish our burden of debt is to
so improve our credit that capitalists
will seek to loan us money at lower
rates of interest than we now pay, -and
must continue to pay, so long as repu
diation, either partial or total, open or
covert, is threatened or suspected." .
a i.vy oi' iM inois .niMiuitr,
On Monday, July V 1S03 cxiiolly
live vears ago commenced the terri
ble draft riots iu New York city. The
rebel armies were fitcing tho Union ar
mies at every point, and threatening
to carry the war into the North. Bee
had made the attempt, hut had been
checked at Gettysburg. Morgan had
that morning crossed the Ohio line
and threatened to water his horse in
Luke Eiie. There was urgent need of
reinforcements for the Union army,
and after many delays tho order for
the draft had been issued. Tho draft
in New York was ordered to commence
Monday, July 13. ,
Events showed that secret arrange
ments had been made for a general
uprising of rebel sympathizers through
out tiic North, taking tho draft as a
pretext, and that such uprising should
prove a lire in the rear ot the Union
armies that would cnablo Pemberton
to drive Grant into the Mississippi,
l'ragg to sweep Koscorans into the
Tennessee, allow Lee to break through
Meade s barrier, push on to Philadel
phia and New York, and surround
Washington, whilst Morgan and Ins
raiders dashed through Ohio, aud cut
theoouimunications between tho West
and the East. The coincident fall of
Vieksburg nnd defeat of Leo at Get
tysburg spoiled the programme, but the
demon of discord had been excited in
New York, and could not be kept
down, although its opportunity had
passed.
About noon on Monday, July 13,
n mob, nt a preconcerted signal, sud
denly attacked a building on Third
nvenuc, New York, where drafting had
commenced, gutted it, fatally injured
an enrolling officer and drove the other
occupants through the windows at the
peril of their lives. Thra then attack
ed the Government armory: on Sec
ond avenue, brutally maltreated the
occupants, and fired the building
Led on by a Virginia reltcl, they
attacked and disarmed soldier and
police hunted them down like dogs and
frurhtfullv mangled . them. - They
swarmed, a pack of thousands of yell
ing, w hooping demons, urou ml thetol
orcd Orphan asylum, set it on fire
drove offthe firemen that attempted
to extinguish the flames, and would
havo ming the Chief Engineer but for
the determined insistence of his men.
The building was stripped of its con
tents, the orphan children turned nak
ed and friendless int 'thoStreet, to be
kicked and beaten by the lDlunatca
brutes, and thp building leveled with
tho ground. f.' , . ..
Fresh from this scene of dastardly
and cowardly, outrage, the now mad
dened villains hunted up the colored
people, hung thorn to lamp-posts and
TerniH of ' AclverTU.tnff
AND
jonwoRK.
AnyttTiarMK-rratnacrtadattl MMf KlHItr
tin tlirf Ihnurtluux, ur leea. aiul oe Mate per
square for each additional linwrtlon ; (ten line
or leu of Uils type conuted a atiuare). All trail
lent advertisement to he paid nir In advance.
ItcaiNKNa NoTH'KHaotuuderthe head of local
newa will be rharyed iuyuUiUiv 1 eeataa Una
for each Insertion. - " '
A lllieral deditetion rnndfl to person! advertla
Ina hy tho quarter, lutlf-year ur !rear. R perl a!
notlcca enaried ,oue-hal( more Uiuu rejular ad-vi-rllHeiniMils.
.1..
.Inn I'ltisTt.voof every kind In Plain and Fan
ey colors; llHiid-hllls, Hlauks, Cards Pamphlet
.te., of every variety ami style, printed at the
shortest nulli-u. 'riie Rei-CBucAM Orric haa
.nut iMvnra.atfM.nnal everything In tha Print
line can he earenteii in tha most axtlatUr
iiiuuuernnd at the lowest rates.
trees, burnt them to deathj set them oh
fire as they, Iy';lyjiigi and burned
their homes.' .-Thus passed the first
day of the riot. , .,.
All night tho reign of blood and fire
was kept up. Next day nn attempt
was mado to burn d.,united States
hospital, in which lay two hundred
and fitly sick and wounded soldiers.
The troops wore railed out and several
fights took place, the moh which on
their way passed McC'.eilan's residence
and cheered it cheer!" lustily for
Jeff. Davis, :'.':,-l!',. '. .,.
On that day Horatio Seymour, then
Governor of .New, York, issued a
proclamation iti which he spoke of tha
mob having some justification for their
proceedings, though he told them they
must now stop. , On. that.' day the
sanie Horatio Seymour addressed that
mob of incendiaries aud assassins,
their hands reeking with the blood of
defenseless 'men and women, their
pockets filled with plunder and their
clothes smirched with tho smoke of
tho dwellings of poor peop.le and help
less orplutns, aud this Horatio called
these cut; throats aud thieves "my
friends!" f
From that speech, his "friends,
mingling cheers for Seymour with fran
tic yells, rushed to fresh deeds of blood
aiid tiolence. ;
It is this sanie. Horatio Seymour,
stained with the blood and smoke of
July, 1803, who In July, 18G8, with
falsehood frash on his lips, noceptsfrom
his "friends" the Democratic nomina
tion to the Presidency. i
" A .Inn Font If iirnlred Tears Ola. '
. There recently arrived here a luna
tic a scholarly man of about, thirty
eight who has been employed as ti
teacher in sohoolii.. ;.He has always
lived a quiet, temperate live, and nev
er exhibited any symptoms of insanity
until within a month past. ' He oon-'
versos well and Intelligibly on the top-:
ics of tho day, biit soon drifts away
into the past to recount some1 of tho
events which occurred two of throe
hundred years ago, and In which, a-'
cording to his account, he himself
mingled. He knew Shakspearo woll4
ho says, and was present when hctifitde
his first appenrnncein Ixwdon as an ao
tor. lie speaks of having once loaned
"William" five dollars, which hd for
got to repay. "Hut, never mind," he'
says, "liilly was a good lcllow, and he
wasn't as well fixed as I wns."
A gcntloinun remarked that if ho
was lour hundred years old, he must
have been quite a young mdn wheq
Columbus sailed in search of the New
World. Oh, yes, he remembered ic,
well. I Ic was present at ' (i presonta-'
lion of a Imsom pin which was made to
Columbus by some of his friends on
the night prcviotA to his departure.
"They had a guy time," said he "ma
king speeches nnd drinking toasts.,
Chris, wanted me to go nlong, but I
told him I believed I would wait for
the next steamer;"
After musing a little time the four
hundred year old man suddenly re
mai'kcd : "Ever know Lib ?"
"Lib who?" said the gentleman ad
dressed," '.. ,
"Why Elizabeth, Queen of England.
Great friend of mine. Iwns'the only-'
one she allowed to call her Lib.
Splendid woman magnificent wo
man a little haughtyj though, and;
self willed. I never liked the way
she used the Queen of Scotsi ' Told
her so at the time."
So would this unfortunate man run
on by tho hour. Cincinnati Tima:
Tho Indiana Democracy Half.'
The Tipton Times, the most influ
ential Democratic paper in the Eight
Congressional District of Indiana,
contains the following :
"Hero we come. The New York
infamy has convinced us of the necess
ity ot taking our stand with the working-men's
party, the Tin-bucket Bri
gade. Uur unfaithful and infamous
delegates to the New York Convention
sold ns for Wall street gold, and we
propose knowing how much we bought
knowing what white men are worth
iu the market. Seven or eight of oar
delegates were faithful to their trust.
The others have rendered themselves
infamous for all time to come. At
the very time when Indiana, if it had
remained true could have run up Pen
dleton's vote to seven more than a ma
jority, one G. N. Fitch of Legansport,
split tlie delegation and took off nine
and one-half votes of the thirteen.
Financially we cannot endure him,
but politically he is damned. We
appeal to you, the people irrespective of
party, who do not propose tnat your
selves and your posterity, to the latest
generation, shall be tne dupes and slaves
of bondholders, to rally with us around
the workintrmen s banner and reDOdi
ate and split upon all such rascality;''
"So far as the state of Ne"w York is
it .1 TkT : VL..L rr , -
concerned says inenew xors sienna
"we have no doubt that her fifty thotj-
Bund niujuLiiv uiiau jusb y cai ur uiv i
i ' t.. ,.t ...h ru Ai.'
Democratic ticket will be entirely
wiped out next November, and thai
the State will go about the same num
ber the other way."
"i i ii
Ex-Gov.CtjRTix has become Pres
ident of the East India Telearrsoh
Company, which purposes to eosnetst
ten principal ' cities of Chins by
submerged telegraph eight hone!'-.
red and ninety-five miles mz. Ts
office of the company is ia Ksw
York.
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