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FOR TUE MONTRORE DEMOCRAT g SISTO.RY of ebe Great Struggle between Liberty and Despotism for the last Hundred Years. One of Mr. Johnson's impeachers, Mr Ashley, of Ohio, says : " I have always believed that Presidents Harrison, Taylor and Buchanan were pois oned, and poisoned for the express pur pose of nutting Vice Presidents in their lace • and I believe that President John son') , had a guilty knowledge of the assas sination of President Lincoln." In order to avoid like disasters in the future, Frederick Douglas, one of their oegro allies and prophets, travels from place to place, telling the people in his el oquent speeches how to rectify this mis take of the white statesmen, who founded our government. He says : " We must do away with the Vice Pres ident. We have had bad luck With them. We have had .three Vice Presidents with in the the last twenty years, and not one, though elected on the same platform, by the same party as the President, not one but has betrayed the party that elected him, and trampled upon the will of the' people. Why this uniform desertion of party and principle by Vice Presidents? I don't know, you don't know, but we keep thinking. (Laughter and applause.) ? The Presidential chair is a tempting bauble. For crowns men have done ma ny horrible things. For crowns they have committed murders and assassinations.— For the crown they have sent the mid night assassin into the dungeons of broth ers, and caused them to plunge the cold !feel into the quivering heart. For the crown, the brains of smiling infants have been dashed out. For the crown poison has been resorted to." • Yes ! This Republican party and their negro allies ought to be well versed in the Listory of the murders of kings for the tl:e of kingly power. The Puritans who murdered Charles I. that they might rule with despotic powerasver England and Ireland themselves—the .Jacobins, who murdered the good king of France, that they might become dictators in turn— and the ncgroes of Hayti, who have eith er murdered or driven from the throne by baronets every black ruler who has been ;laced over them, since the time when :hey murdered every white man, woman end child on that ill-fated island. These three patties, now all amalgamated in (.ne, ought to be familiar with aspssina :ion, murder and poison, as they indeed show themselves to be. "The Presidency of our country," says this negro Douglass, " stands in the place of the crown. make no charge, Ido not even deal in insinuation. I don't say that President Johnson was in any way privy to the assassination conspiracy that terminated the life of our President—not at all. But there are some strange things abent it. I believe this : I believe that the rebels who compassed his death,knew Andrew Johnson then as we know him now. (Loud applause.) If they did not, they acted like madmen. They acted like men out of their senses. If they believed Andrew Johnson would carry out his threats against them, they acted like men who were jumping out of the frying pan; into the fire. It, don't seem to me but. that they knew what his subsequent action; would be; and we all know that he is the:' recognized champion cif :the .rebels, who are responsible fiir the assassination. (A p plause.)- " There. is no reason why we should elect a Vice President any more than there is that we should select our second wife on the evening of our first marriage: But you ask, what should we do if the President should die? Well, that is what lam telling you. He wouldn't die if you had no Vice President." So confounded, so surprised and so pure zled have the Republicans been at the mysterious providence which placed a President in office adverse to their plans, that they have been unable to solve the enigma in any other way than by "think ing" all the while that the Vice President murdered him, and President Johnson has narrowly escaped summary and secret ex- , eention at their hands for this pretended: crime. Yet one of the greatest of Amer: ican heroes and statesmen arrived at solu tion of these "strange- things" many years ago, and the Republicans ought to have been benefitted by his discoveries. Perhaps it, is not yet too late. When General Jackson' ;was on his death-bed in 1845, in reviewing the po , liticalthanges and scenes in his conntry'S history, he said to a visitor, who report ed his conversation with the dying chief: "There is a Providence in all these thing!, .sirl The Almighty permitted the people Ito , becomes crazy and van ;wild in 1840, and to elect good old Harrieen Pre- sident. Then the Almighty took him to himself, that Tyler might save the couu try by his vetoes. Yes, sir. Those ve toes saved the country, and Gen:Harrison was removed by Providence to that end. There was a Providence in all this, sir." Now, if it was necessary for Providence to remove the first named President, which Frederick Douglass says "we elec ted," in order to save the country, it was necessary he should remove the other:two —and that is why they were removed. And who is this man who thus explains the mysteries which envelope the Repub lican party in such a cloud of perplexity ? Is ho a man capahle of understanding the dangers arising 11-otn time to a free gov ernment? And was he in favor of our free 'government, as established by the patriots of 1776, or was he for converting it into a monarchy, as the party in power are trying to do ? A short history of his life will suffice to answer these questions; and the earliest mention of his name which we will bring to your notice, is the following from the National Intelligencer, of Washington City, dated May 31st, 1814. It says: "We are pleased to learn that the mil -I,ary condu c t, vombining skill and cour age of General JacksOn, of the Tennessee Militia, has attracted the attention of President Madison. General Jackson is appointed a Brigadier General in the ar my of the United States, and by brevet has the honorary rank of Major General. This appointment, wb doubt, not, will meet wiih general approbation. The In dian war is now entirely at an end, the greater part of the troops have been call ed home." The next no:iee of this Brigadier Gen eral is taken from another newspaper i u ! , e coin.coin. i printed in those days of bloody war : The first few millions needed to equip " Resolved, By the Senate and Hot se of our army and navy were easily borrowed, Representatives of the United States of for our government had a very poor and America in Congress assembled, that the shallow idea of the intensity of fiteling of thanks ofCongress be, and they are here- the independent belligerent with whom by given to Major General Andrew Jack- Iwe had to deal. The next loan of $250,- son, and through him to the officers and 000,000 was readily taken by the Phila soldiers of the regular army, of the mili- deiphia, New York and Bosun Banks. tut and of the volunteers, for their uni- But when Congress assembled the banks form gallantry and good conduct, conspic- complained that the Treasury had so Lue uously displaxed against the enem f lame ut a c• Incr. glk.;:, ... -. _ _..Y. , ..-rm ' placed l i-Piir- ioameebY—P"'"aef-f"f . 6 h-lni * • leans, until hi+ final expulsion therefrom ;i ' the lenders, unable longer to pay coin and particularly fvr their value and for them.. They, however, went on and conduct on the eighth of January, gore paid them in currency at some discount, pulsing with great slaughter et numerous which, I think, cost the government some British army of chosen veteran troops, millions of dollars. Still, the Treasury when attempting by a bold and daring at- was soon emptied, such was the error- I tack to carry by storm by the works has- mous draft upon it for war material. In- 1 tily thrown up for the protection of New i quiry was then made of bankers and bro- Orleans, and thereby obtaining a ne;st kers by the Committee of Ways and signal victory; over the enemy, with a dis- Means, of which I happened to be chair parity of loss on his part, unexampled in man, as to the probability of obtaining a military annals. I loan, and at what rate. The answer was "Resolved, That the President of the discouraging, and did not give us reason United StateS he requested to cause to be to hope that we would be al;le to obtain struck a Gold Medal, with devices em- sufficient money to carry on the war at blematical of this sp!endid acchievemeet, i more than eighty live per cent., with in and presented to Major General Jackson, terest at six per cent. on the loan. The as a testimony of the high sense enter- committee were unwilling to take eighty tamed by Congress of his judicious and five per cent. principal and ' receive the distingutshed conduct on that memorable loan in a depreciated currency, which occasion. . . wonldliaVe probably brought it to seven " Resoleed,', That the President of the ty 'five per cent. Two of us, Mr. Spaul. United States be requested - to cans the ding, of Buffalo, and myself, were in fa foregoing resol miens to be communicated vor of issuing notes of the United States to Major . Geiieral Jackson in such terms and making them a legal tender, but re as hw . may deem best calculated to give ceiving them at par fur all transactions with the Government, believing that they effect -to the objects thereof." Approved Feb. 27th, 1815. Iwould pass at very nearly par for all the ! Why was this " numerous British ar supplies of war material which the Gov-. 1 eminent might need; as all demand, both my," which was composed of troops with by the government and individuals, for which Lord Wellington conquered Napo- anything but legal tender, would thereby leon on the - field of Waterloo, landed be- be taken away. No reason could be seen fore New Orleans? Why was the fleet why, to the extent of the demand in this country, NI , bleb proved to be nearly the of fifty armed vessels, commanded by a whole, they should go much below par. brother-in-law of Wellington, bringing a They would answer every purpose for force of twenty thousand white British i; ; i 1: W,1.c.1 LIC .anner, mechanic mercant and soldiers, besides two negro regiments . manufacturer desired to purchase materi from the West Indies, to hold the city of- i al. We remember that in England for most of the time that specie payment was ter its capture, (because it was thought . suspended, her bank notes were at about they would be peculiarly adapted to that . fourteen per cent discount. After having climate,) sent by Great Britain to attack : repeatedly attempted to purchase loans at and capture that great city in the South ?. a less sum than what in coin would be ! about $4O on the $lOO, we urged the Sec- What else but for the subjugation and • retary of the Treasury tc give his consent conquest of America? And who else be- to off•ering a loan and issuing therefor sides negroes from the West Indies did , United States notes and making a legal she take to her bosom to assist in this tender. To this the members of the coin conquest ? All the Indian tribes and sav- mittee agreed, but the others, together ages in America, led by Tecumseh, Weth with the Secretary, decidedly refused their , i consent as ho (the Secretary) had very ersford, and other savage warriors. Gen. consistently done in his rerkrt. The com. Jackson helped to " save his country from mittee waited, again consulted the mon destruction" at the hands of the British ; eyed men of the country and found that and their Indian And negro allies. And .no large loan could be obtained in coin except at a ruinous price. They again im who sympathized with the British nation, portuned the .Secretary for his consent, and laughed at the murders of the white ;, the committee having become a tie. A people by the Indians? - The Federalists.l bill for the issue of $100,000,000 of legal And who did Gen. Jackson say these Fed-' ' , tender had been drawn and offered by , eralists were ? He wrote to President ' Mr. Spaulding, and was allowed to remain Monroe that, " These men, although call- .in that position till February, when a 1 democratic member of the committee, re , ed Federalists, were really monarchists i serving the right to vote against it, con and traitors.i! • I :tented that it might be reported. In Feb- This histoiy will prove that this party, ; ruary, after severe opposition, it, passed whiCh bas allied itself with the negroes of I the House and was seat to the Senate. the Sontbrare -the monarchists and trait- Then nothing was said about the currency ors 'of Getr. Jackson's day, and the tories ' in which either principal or !merest were ofilliii : • day , and to be paid. No one, I Suppose, doubted MONTROSE, PA., TUESDAY, DEC. 31, 1867. Thad, Stevens on Government Bonds, STEVENS TO GYGER We find in the New York Herald a let ter over four columns in length from Thaddeus Stevens to John Gyger, bank er, who had written to him for his opinion upon our financial system, and as to what kind of money the National debt would be paid in. Mr. Stevens opens his letter as follows : " Dear Gyger—l shall not hesitate to answer the questions which you have pro posed to me according to my poor ability, although I know that I thereby incur the risk of sharp and frivolous criticisms by able New York editors, whose age is scarcely more than eighteen years, and who will probably discover in my answer evidence of old age, and decaying of in tellectual powers. Of all this I am my se:f conscious, and only regret the pain which it gives those youthful gentlemen to make such delicate suggestions. But as literary:pride has never been among my aspirations, I will not venture to smother the free intercourse with try neighbors in advanced life." He then goes on to say : " I have not approved and do not now approve of the financial policy pursued by our government, for the last six years. I think we have thrown away our billions, and are still throwing away our millions, by mismanagement. You are a banker, and a sound one; but you are making more of the United States through the national banking systetn, as is every other man who has adopted it, than you ought to make. This may ap pear do , :mat Mal; but I am only answer ing the question which you have asked me." lie gives the following account of the origin of the - 5 20 loan, showing that Con gress did not intend to commit the Gov ernment to the payment of the principal that the loans of the United States of ev ery description were payable in the mon ey of the United States of every descrip tion; but to change that aspect as it re garded a portion of the fund, the New York money changers .again made their appearance, Jew and Gentile mingling in sweet communion to discover some cun ning invention to make in a day what it would take weeks for honest men to earn. They went directly to the Committee of Ways and Means, and asked that the in terest should be made payable in coin, leaving the pVincipal 4s it was. The com mittee utterly rejected the absurb propo sition of two currencies—two legal ten ders—in the same empire and for the same commodities. They had once heard of such a transaction in Austrn bonds, which utterly destroyed their credit. The brokers then resorted to the Secretary of the Treasury. He was more easily per suaded, and, it is understood went with them to the committee of the Senate and pressed the change. The Finance Com mittee of the Senate agreed to it, and sent it back to the House with that amendment. The house rejected it, and the consequence was a committee of con ference, and as some bill was necessary it resulted in the present law, making the debtss of the United States, so far as re garded their interest, payable in a differ ent kind of a currency from the debt it self. One of the House committee pro posed then, in order to raise a sum suffi: dent for that purpose, that the duties on imports should be paid in coin. That proposition prevailed, and the result was and is that the interest on the national loans and the duties on importations are payable in one kind of money called legal ender, and the principal in another kind of money called legal tender, but made of a different material and of a different shape. Thus, as any one can see, that Congress declared that while she created two kinds of money she had made them of unequal value and for different purpos es." He uses the following strong language in reference to the assumption that the bonds are payable in gold : " It is but just to Mr. McCulloch here to say that he does not pretend that the principal of the five twenties (as his late letter shows) is payable in coin, as the bonds 'are silent upon that subject, and as that conclusion is excluded by that very silene.e. It is just, also, to the Democrat been discussed in the house among them has set up such a foolish pre tension; and when the bill was on its, final passage the question was expressly asked of the chairman of the Committee of Ways and Means, and as expressly an swered by him, that only the interest was payable in coin. But every instrument speaks of itself, and when it is silent upon the subject of the currency, it is always made payable in money, which means the legal tender of the country. I fear, how- ever, I am elaborating this paint, ad nau seam, unless a newspaper editor or a country broker can enact laws and after wards enforce, them. There is nothing short, of - the sheerest folly in this argu ment, and it will not be persevered in by those who have sufficient strength to car ry them genteelly over the "asses' bridge." Nay, more; I fear that what I am going to state may set New York editors and brokers upon a dangerous rampage amid the flowery fields and golden images of Chiriqui and Golfonto; and yet I shall venture to say that if the United States chose to be faithless enough, she could tender and pay not only the principal, hut the interest in legal tenders, although the latter is expressly contracted to be paid in coin. The law of legal tender means this or it means nothing. Let not this alarm any one, for no nation short of the basest Asiatics would ever think of such an act, however capitalists might ask trus tees, guardians and administrators to vio late the law and their sworn oaths to double the revenue wi,ich the public debt or is to pay them." And proposes to liquidate them as fol- lows . " Various methods are suggested to redeem the five twenties in currency. One very able writer suggests a loan in greenbacks to their amount, so that af- —The New York Evening Post, a lea terwards the greenbacks may be redeem- , ding organ of the radical party in that ed with the others. If we are satisfied i State, sees the hand writing on the wall, that there is not more than a sufficient 1 and is sounds the note of alarm : • currency to do the business of the coup- 1 It cannot be denied that there has been try together with its probable increase, , a good deal of inconsiderate and even then that would be the proper method, ! dangerous legislation in Congress during without inflating prices as a counterbal- ! the past two years: There has been a ance to the saving. But if it is believed that the present and prospective business great deal more inconsiderate and dan d fair gerous talk. There are still threats made of the country woul ly absorb an , by men who ought to know better, which amount large enough to redeem these i are nothing less than revolutionary and of these bonds as they become due, and not inju- i things the people are getting riously increase the business, then the ; true way would be for the government ; weary. They tell their representatives in Congress that instead of listening to their to issue legal tenders equal to the amount i to enthusiasts, to their extreme men, to their be redeemed, and thus save the inter- 1 i Sumners, their Stevenses, and their But- e.t both of the old and a new loan. In deed, but a small, portion might be issued ' lers,_ it. would be better to the dictates of good sense, to the strict requirements ofl monthly, say 84,000,000, so as to imper ceptibly affect the cuu rency. constitutional law, and to men of modera tion and statesmanship. As for recon -In calculating the chances for the struction, it is not in so hopeful a condi next Presidential election, the Tribune tion now as it was a year ago, .when the said : "We do not think much comfort 1 t remains for any political party that can- 1 -- constitutional amendment—article XIV wan passed. Nearly all that Cengress not carry New York and Pennsylvania." 1 has since done has been needless, violent, smanlike,we might almost say, Very true. What hope is there then, I and unstate for the radicals ? I fanatical. Three Great Friends, In the Life of Josiah Quincy" is the following story of a joke passed by Judge Story on two of his friends addicted to the habit of early rising : " I have related, in telling my father's doings as President, how he never failed to set the sleepy students an example of rigid punctuality at morning chapel. He deserves the less credit for this, however, in that he had contracted, long years be fore, the habit of rising every morning, winter and summer, so that he had long been astir before the prayer bell rung out its unwelcome summons. Tbis excess in early hours, however, like every other ex cess, brought its penalty with it. Nature would not be cheated of her dues, and if they were not paid in season she would exact them out of season. Accordingly, my father was sure to drop asleep, wher ever he might be, when his mind was not actively occupied; sometimes, even in company, if the conversation was not es pecially animated, and always as soon as he took his seat in his gig, or 'sulky,' in which he used to drive himself to town. It was good luck and the good instinct of his horses that carried him safe through for so many years." " One day Mr. John Quincy Adams, who was addicted to the same vice of in temperate early rising, with much the same consequences, was visiting my fa ther, who invited him to go into Judge Story's lecture room and hear his lecture I to his law class. Now Judge Story did not accept the philosophy of his two friends in this particular, and would in sist that it was a more excellent way to take out one's allowance of sleep in bed, and be wide awake when out of it—which he himself most assuredly always was. The judge received the two Presidents gladly, and placed them in the seats of honor on his dais by his side, fronting the class, and proceeded with his lecture. It was not long before, glancing his eye aside to see how his guests were impress ed by his doctrine, lie saw that they were both of them sound -asleep, and he saw that the class saw it too. Pausing a mo ment in his swift career of speech, he pointed to the two sleeping figures and uttered these words of warning: " Gen tlemen, you see before you a melancholy example of the evil effects of early rising. The shout of laughter with which this judicial obiler diclum was received effectu- I ally aroused the sleepers ana it is to be " • ' A Radical Oandidate. The radicals are in serious trouble in Memphis. The negroes took complete control of the convention which was call ed to nominate Municipal Officers, and, being manipulated by a small faction of the baser of the mean whites, nominated a most obnoxious candidate for Mayor. His name is Beecher. He was twice con victed of larceny at Onarga, Illinois; once for stealing a vest, the second time for stealing saw logs. He has been several times indicted for larceny in Memphis, and is now under bail to answer to a charge - of embezzling :the property _of Shelby County Hospital, of which he was surgeon. He is also accused of taking a bribe to procure the purchase of an old barrack for a county hospital, which was located in so unhealthy a place that many of the inmates, principally poor negroes died. He is under bail, to answer at court on that charge. He was a defaul ting postmaster under President Buchan an, and became intensely loyal when be saw a good chance of making it pay. Take him all in all, he is a fair specimen of the white Southern Radical, and is fit ! to associate with Brownlow, Hunnicutt, Jack Hamilton and the rest of the gang. His nomination is a nice commentary on the competency of the negroes to exercise the right of suffrage. It is only proper to say that all the charges against him are made by the Radicals of Memphis them selves. The Conservative whites of the city, being disfranchised, look on at the fight as outsiders, but not as disinterested spectators. Their property and other in terests are at stake, but they aro power less to help themselves. i VOLUME XXV, NUMBER 1. Butler on National Banks. We copy the following extract 'from the speech of Gen. Benj.,;. Butler, deliv ered in Congress, on the subject of bank ing and currency: , What is the next proposition ? Wby, it is said we must not interfere with the national banks because tbey patriotically helped us during the war. Upon the take issue with each and every advocate of the banks. On the contrary, they help ed themselves, not'Ths. It is said they loaned money to the Government. How did they do it ? Let me state the way a national bank got itself into existence in New England during the war, when gold was 200, five twenties were at par, in currency, or nearly that. A company of men got together $300,000 in national bank bills, and went, to the Register of the Treasury with gold at 200' and bought United States five twenty bonds at par. They stepped into the office of the Comp ' troller of the Currency and asked to be established as a national bank, and receive ed from him $270,000 in currenoy, with out interest, upon pledging these bonds of the United States they bad bought with their $300,000 of the same kind of money. Now, let us balance the books, and how does the account stand? Why, the United States Government receives $30,000 in national bank bills more from the banks than it gave them in bills; in other words, it borrowed of the bank $30,000, in currency, for which, in fact, it paid $lB,OOO a yearin gold interest, equal to $36,000 in currency, for the use of this $30,000. Let me repeat. The difference between what the United States received and paid out was only $30,000, and for the use of that the Government pay on the bonds deposited by the company, bought with the same kind of money, $lB,OOO a year interest in gold, equal to $36,000 in currency. But the thing did not stop there. The gentlemen were shrewd financiers; their bank was a good one; they went to the Secretary of the Treasury and said, " Let our bank be made a public depository." Very well; it was a good bank; the mana gers were good men; there was no objec tion to the bank. It was made a public depository, and thereupon the cOnvnissa ries, the quartermasters, the me dial di rector and purveyor, and the pa}misters were all directed to deposit ,their public fonds in this bank. Very soon the bank • found that they had a line of steady de 5270,000 they had feceii7 d frorii — tFir Comptroller of the Currency would sub stantially carry on their daily business, and as the Government gives three days on all its drafts if the bank was pressed it was easy enough to go on the street if they had good security. They took the million of Government money so deposi ted with them and loaned it to the Gov ernment for the Government's own bonds, and received therefor $60,000 more inter est in gold for the loan to the Govern ment of its own money, which in curren cy was equal to $120,000. So that when we come finaly, to balance the books the Government is paying $156,000 a year t „ for the loan of $30,000. And this is the system which is to be fastened foieter pn the country as a means of.furniihing a circulating medium This, only using round numbers for the purpose of illustration, is an `actual and not a feigned occurrence. You will see it was a perfectly safe operation for the banks, though not a very profitable one for the Government, because they held ample security for the Government de posits in its own bonds. But, the difficul ty is the Government was paying inter est all the while on its own deposits; and this state of facts is only rendered possi ble by this system of supplying the banks with circulation by Government without interest Extraordinary Revenge. The Providence (R. I.) Herald of elate date tells the following ridiculous story of a hen-pecked husband who took a most singular revenge : A singular case of matrimonial infelici ty is reported in Villag e street, two or three evenings ago. Acouple, both un der the influence of beverages. had a "cheerful discussion," which culminated in a regular quarrel after they had retir ed to their couch for the night. At last, rendered frantic by the stinging words of his wife, and in order to revenge himself upon her, the man sprang ' from the bed ' and seated himself upon the hot cooking I stove accoutred as be was in a very limi ted line of wearing apparel. The stove I being very hot, the man'sflesh burned on, and his night garment somehow catching upon the rear of the stove, be was unable to release himself. His screams for help were treated with cruel iedifferenee by his wife, and it was only when his cries bad called in two men from another room that he was extricated from his uneom. fortable position, by being pulled off the stove by main strength. Of coarse bia burns were terrible, and the physicians who attended him prediot that they will result in permanent,lameness; Or A meetingof the Demcsaratio State Central Committee will be bed as, theAlub Rooms, Harrisburg, on 'Tee& day, the 7th of January, 1808, at p. m.