The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-04
The Financial Issue-Duty Of the New
York Convention.

YORK CONVENTION
The great, vital Issue of the CAM
paign upon which we are about to ell
ter for the choice of President, Vice
President, and Congress of the United
States, next after the integrity of the
government itself under the Constitu-
ton, will be the Financial Question:;
and upon this question it will be the
duty of the New York Convention of
July 4th to speak out boldly, plainly,
and sufficiently in detail to leave no
room for doubt or ca vii as to the prin-
ciples of finance that will govern Dem
ocratic legislation and administration
in case the people elect a Democratic
Congress and Democratic President
Upon this Issue the Democratic masses
demand of those into whose hands they
have placed the rsins of leadership u
positive platform, as upon it they are
resolved to make positive fight,
and toiliDg masses of the Republican
party, and those who have no fixed
party relations, look to the Democrat
ic National Convention for the same
thing. We are confident they will not
be disappointed.
The Republican National Convention
entirely ignored the fact that property
in bonds of the United States to the ex
tent of thousands of millions of dollars
escapes taxation. As this property is
thus exempted, and as its owners are
thus made privileged class, by law Of
the Congress which the Convention en-
dorsed, it was probably not to be ex-
pected that it would take up that sub
iect. But the Democratic National
Convention will be hampered by no
such embarrassment. On the contrary,
it will be impelled by every principle
of justice and equity, and by the voice
of its constituency, to resolve firmly
and unequivocally that all property, be
it in United States bonds or in houses
and lands, shall bear an equal proper
ton of taxation-shall contribute an
equal proportion to the support OF the
public burden.
The platform of the Republican party
declares that the public debt of the
United States, principal and Interest,
shall be paid in gold-that for paper
borrowed at all values in gold below
par down to thirty cents OIL the dollar,
the people shall he compelled to return
| in gold one hundred cents on the dollar,
besides paying high rate of interest
in gold based upon the par value. The
Republican party proposes thus to take
from the people their substance and be-
stow it upon the bOndholders whose
property is wholly exempt from taxa
ton, while they force the people by a
| law of Congress TO accept as legal ten
der" for all dues to them a deprecated
currency. The Democratic masses, and
the working and producing masses gen
orally, demand that this discrimination
in currency, as well as the discrimina-
5,tion in taxation, shall cease. And it is
| demanded of the Democratic National
Convention that it shall resolve in EN-
phatic terms that except where there is
an express stipulation to pay in gold,
the public creditor shall stand upon an
equality with the private creditor and
with the people.
Upon these two points of the financial
auestiou-Taxation and Payment ofthe
Public Debt-the Democratic National
Platform must give forth no uncertain
sound. 1t will not-can not: for every
representative body of Democrats, from
Maine to California, that has assembled
and given an expression to Democratic
views within the past six months, has
pronounced in favor of one taxation
and one currency for all. In our own
State-iu the popular and Democratic
branch of the Legislature of the Empire
State lust before the adjournment a
few days ago, the committee on Federal
Relations made report from which the
following is an extract:
1t is not the policy of the Democratic
party to trifle with the public credit.
| Its history is that of a hard-money par
ty-a party which has paid off both
State and national debts. Its represen-
tatives have voted to pay off our State
debt in the specie in which it was con-
tracted. 1t is pledged to meet the obi
cations of the Government with perfect
faith and literal fidelity. 1t will seek by
economies to reduce the burdens of Gov
ernment, and curtail those extravagan-
cies which, even more than the debt,
weigh upon the resources of the nation.
1t will not debauch the currency in or.
der to defraud the public creditor and
all other creditors; but it will eXtin-
gaish pnblic obligations, when it comes
into power, IN saCk currency ds Congress
shall gire 10 the people to meet ordinary
obligations bet,reem them
The Assembly adopted q resolution
fully expressive of the above view.
This action of the Democratic repre-
sentatives in the Assembly meets with
the unqualified approval Of the Demo-
\ cratic party Of the Stateof New York.
1 We have yet to hear from any Democrat
or Democratic journal the first word of
dissent.
The Democratic State Convention of
Michigan which met at Detroit and
elected delegates to the National Con-
vention laid down q platform of which
the following is plank:
Resolred, That we propose to have all
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