The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1868-07-24
The Democratic Platform--How the
World COnstrues 1t.

Thex Democratic Platform--How tn.
World COnstrues 1t.
The declarations relating to tn,
finances are scattered through differ
ent sections of the platform. They
need to be brought together befor,
we can getan intelligent view oftheil
scope. The platform Is explicit
enough upon each particular point
but its several declarations SO limi,
....a ".osify ono another, that it would
be very misleading to consider any
one of them apart from the rest.-
Payment of the principal of the five
twenty bonds in greenbacks, will
easily be found in the platform il
searched for. The language is, tina!
I'when the obligations of the Gov
ernment do not expressly state upon
their face, or the law under which
they we're issued does not provide
that they shall be paid in coin, they
ought, in right and in justice, to be
paid IN the lawful money of the United
States'-that is to say, ingreenbacks.
This is explicit enough so far as il
relates to the medium of payment
but how does the platform propose
to provide the means? In other
words where are the greenbacks to
come from? On this, also, the plat,
form is explicit; they are not to be
manufactured by the printlng-press,
but to be raised by taxation. By
this method, the payment of the pub
lie debt cannot be very rapid. The
bondhOlders need have no fears that
their property is to be swept away by
a new inundation of paper money!
Payment of the public debt in green
backs, without increasing their pres.
ent amount, payment in greenbacks
out of reduced taxation, will leave
the greater portion of the debt stand
ing for many years to come.
There is another part of the plat
form which has a pertinent bearing
on this subject. 1t is the declaration
in favor of some currency for the
Government and the people, for the
bondholder and the producer Now,
although nothing ID expressly said
upon that point, we suppose tie
platform contemplates the payment
of the duties on imports in coin as
heretofore. This seems to us Just
tifiable, nay. an inevitable inference
from what is said about paying in
coin such obligations of the Govern
ment as stipulate for coin upon their
face. The interest upon both the ten
forty and the tive-twenty bonds is
payable in coin by the very terms of
the law, and also the principal of the
ten.forties. If the Government keeps
this express engagement, it must by
some means raise the coin, and no
other method is suggested than by
collecting it, as now, at the Custom
house. Now, as the platform pledges
the party to pay specie to the bond.
holders, to meet their interest and
that part of the principal which the
law requires to be paid in coin, it
seems evident that the 'One currency
for the Government and the people,
the bondhOlder and the producer"
must contemplate an early return to
specie payments. The Zone curren-
cy" must mean either uniform good
currency, or uniform bad currency.
1t is conceivable in itself, and incon-
sistent with the platform, that the
old, hard money Democratic party
should promise a uniform currency
of bad money. The one currency
means a sound currency-a currency
equivalent to coin, and at all
times exchangeable for it. One cur
rency Of deprecated greenbacks
would be inconsistent with the pay
ment in coin of that part of the public
obligations which is acknowledged
by the platform to be due in coin
inconsistent with the collection of the
revenue from imports in gold; incon-
sistent with the idea that we are ever
to return to specie payments.
Another declaration, in still an
other section of the platform, evinces