We denounce the improvidence which, in eleven years of peace, has taken from the people, in federal taxes, thirteen times the whole amount of the legal-tender notes, and squandered four times their sum in useless expense without accumulating any reserve for their redemption.
We denounce the financial imbecility and immorality of that party which, during eleven years of peace, has made no advance toward resumption, no preparation for resumption, but, instead, has obstructed resumption, by wasting our resources and exhausting all our surplus income; and, while annually professing to intend a speedy return to specie payments, has annually enacted fresh hindrances thereto. As such hindrance we denounce the resumption clause of 1875, and we here demand its repeal.
We demand a judicious system of preparation, by public economies, by official retrenchments, and by wise finance, which shall enable the nation soon to assure the whole world of its perfect ability and of its perfect readiness to meet any of its promises at the call of the creditor entitled to payment. We believe such a system, well devised, and, above all, intrusted to competent hands for execution, creating, at no time, an artificial scarcity of currency, and at no time alarming the public mind into a withdrawal of that vaster machinery of credit by which ninety-five per cent. of all business transactions are performed. A system open, public, and inspiring general confidence, would, from the day of its adoption, bring healing on its wings to all our harassed industries—set in motion the wheels of commerce, manufactures, and the mechanic arts—restore employment to labor—and, renew, in all its natural sources, the prosperity of the people.
Reform is necessary in the sum and modes of federal taxation, to the end that capital may be set free from distrust and labor lightly burdened.
We denounce the present tariff, levied upon nearly four thousand articles, as a masterpiece of injustice, inequality, and false pretence. It yields a dwindling, not a yearly rising, revenue. It has impoverished many industries to subsidize a few. It prohibits imports that might purchase the products of American labor. It has degraded American commerce from the first to an inferior rank on the high seas. It has cut down the sales of American manufactures at home and abroad, and depleted the returns of American agriculture—an industry followed by half our people. It costs the people five times more than it produces to the treasury, obstructs the processes of production, and wastes the fruits of labor. It promotes fraud, fosters smuggling, enriches dishonest officials, and bankrupts honest merchants. We demand that all custom-house taxation shall be only for revenue.
Reform is necessary in the scale of public expense—federal, state, and municipal. Our federal taxation has swollen from sixty millions gold, in 1860, to four hundred and fifty millions currency, in 1870; our aggregate taxation from one hundred and fifty-four millions gold, in 1860, to seven hundred and thirty millions currency, in 1870—or, in one decade, from less than five dollars per head to more than eighteen dollars per head. Since the peace, the people have paid to their tax-gatherers more than thrice the sum of the national debt, and more than twice that sum for the Federal government alone. We demand a rigorous frugality in every department and from every officer of the government.
Reform is necessary to put a stop to the profligate waste of public lands, and their diversion from actual settlers, by the party in power, which has squandered 200,000,000 of acres upon railroads alone, and, out of more than thrice that aggregate, has disposed of less than a sixth directly to tillers of the soil.
Reform is necessary to correct the omission of a Republican Congress, and the errors of our treaties and our diplomacy which have stripped our fellow-citizens of foreign birth and kindred race, recrossing the Atlantic, of the shield of American citizenship, and have exposed our brethren of the Pacific coast to the incursions of a race not sprung from the same great parent stock, and in fact now, by law, denied citizenship through naturalization, as being neither accustomed to the traditions of a progressive civilization nor exercised in liberty under equal laws. We denounce the policy which thus discards the liberty-loving German and tolerates a revival of the coolie trade in Mongolian women, imported for immoral purposes, and Mongolian men, held to perform servile labor contracts and demand such modification of the treaty with the Chinese Empire, or such legislation within constitutional limitations, as shall prevent further importation or immigration of the Mongolian race.
Reform is necessary, and can never be effected but by making it the controlling issue of the elections, and lifting it above the two false issues with which the office-holding class and the party in power seek to smother it:
1. The false issue with which they would enkindle sectarian strife in respect to the public schools, of which the establishment and support belongs exclusively to the several states, and which the Democratic party has cherished from their foundation, and is resolved to maintain, without prejudice or preference for any class, sect, or creed, and without largesses from the treasury to any.