If there be a “war of races,” as is the apologetic defence of the murderers, then it is war declared and carried on by whites. The other race is inoffensive and makes no war, asking only its rights. The whole pretension of a “war of races” is an invention to cover the brutality of the oppressors. Not less wicked is the loud-mouthed attack on immigrants, whom Rebels choose to call “carpet-baggers,”—that is, American citizens, who, in the exercise of the rights of citizenship, carry to the South the blood, the capital, and the ideas of the North. This term of reproach does not belong to the Northerner alone. The carpet-bag is the symbol of our whole population: there is nobody who is not a “carpet-bagger,” or at least the descendant of one. Constantly the country opens its arms to welcome “carpet-baggers” from foreign lands. And yet the cry ascends that “carpet-baggers” are to be driven from the South. Here permit me to say, that, if anybody is driven from anywhere, it will not be the loyal citizen, whether old or new.
On all this you are to vote. It will be for you to determine if there shall be peace between the two races, and if American citizens shall enjoy everywhere within the jurisdiction of the Republic all the rights of citizenship, free from harm or menace, and with the liberty of uttering their freest thoughts.
There is another issue at this election. It is with regard to the unpatriotic, denationalizing pretensions of State Rights. In their name was the Rebellion begun, and now in their name is every measure of Reconstruction opposed. Important as are the functions of a State in the administration of local government, especially in resisting an overbearing centralization, they must not be exalted above the Nation in its own appropriate sphere. Great as is the magic of a State, there is to my mind a greater magic in the Nation. The true patriot would not consent to see the sacrifice of the Nation more than the true mother before King Solomon would consent to see the sacrifice of her child. It is as a Nation—all together making one—that we have a place at the council-board of the world, to excite the pride of the patriot and the respect of foreign powers. It is as a Nation that we can do all that becomes a civilized government; and “who dares do more is none.” But all this will be changed, just in proportion as any State claims for itself a sovereignty which belongs to all, and reduces the Nation within its borders to be little more than a tenant-at-will,—just in proportion as the National Unity is assailed or called in question,—just in proportion as the Nation ceases to be a complete and harmonious body, in which each State performs its ancillary part, as hand or foot to the natural body. There is an irresistible protest against such a sacrifice, which comes from the very heart of our history. It was in the name of “the good people of these Colonies,” called “one people,” that our fathers put forth the Declaration of Independence, with its preamble of Unity, and its dedication of the new Nation to Human Rights. And now it is for us, their children, to keep this Unity, and to perform all the national promises thus announced. The Nation is solemnly pledged to guard its Unity, and to make Human Rights coextensive with its boundaries. Nor can it allow any pretension of State Rights to interfere with this commanding duty.
There is still another issue, which is subordinate to Reconstruction and dependent upon it, so, indeed, as to be a part of it. I refer to the Financial Question, with the menace of Repudiation in different forms. Let the Reconstruction Acts be maintained in peace, in other words, let peace be established in the Rebel States, and the menace of Repudiation will disappear from the scene,—none so poor to do it reverence. If it find any acceptance now, it is only in that revolutionary spirit which assails all the guaranties of peace. Repudiation of the Reconstruction Acts, with all their securities for Equal Rights, is naturally followed by repudiation of the National Debt. The Acts and the Debt are parts of one system, being the means and price of peace. So strongly am I convinced of the potency of this influence, that I do not doubt the entire practicability of specie payments on the fourth of July next after the inauguration of General Grant.
Nay, more, it is my conviction, not only that we can have specie payments at that time, but that we ought to have them. If we can, we ought; for this is nothing but the honest payment of what we owe. A failure to pay may be excused, but never justified. Our failure was originally sanctioned only under the urgency of war; but this sanction cannot extend beyond the urgency. It is sometimes said that necessity renders an action just, and Latin authority is quoted: Id enim justissimum quod necessarium. But it is none the less untrue. Necessity may excuse an action not in itself just, but it is without the force to render it just; for justice is immutable. The taking of the property of another under the instigation of famine is excused, and so is the taking of the property of citizens by the Government during war,—in both cases from necessity. But as the necessity ceases, the obligations of justice revive. Necessity has no rights, but only privileges, which disappear with the exigency. Therefore do I say that the time has passed when the Nation can be excused for refusing to pay according to its promise. But it is vain to expect this important change from a political party which emblazons Repudiation on its banners.
It is in two conspicuous forms that Repudiation flaunts: first, in the barefaced proposition to tax the bonds, contrary to the contract at the time the money was lent; and the other, not less barefaced, to pay interest-bearing bonds with greenbacks, or, in other words, mere promises to pay without interest.
The exemption from taxation was a part of the original obligation, having, of course, a positive value, which entered into the price of the bond at the time of subscription. This additional price was taken from the pocket of the subscriber and transferred to the National Treasury, where it has been used for the public advantage. It is so much property to the credit of the bond-holder, which it is gravely proposed to confiscate. Rebel property you will not confiscate; but you are considering how to confiscate that of the loyal citizen. Taxation of the bonds is confiscation.