Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1868-10-24
The Democratic Surrender.

1t is a matter of surprise with many,
even in the Democratic party, that the
World should have shown such signs of
weakness and despair as were indicated
by its proposition to remove the impedi-
ments which were in the way of the sue
cess of its ticket. This was understood
to mean tie withdrawal of Seymour or
Blair, or both, as its article which has
excited much attention, seemed to imply.
We have 10 idea that the World was at
the bottom of this performance. 1t no
doubt acted under the promptings of
members of the Democratic party, who
snuff danger in its success and seek to
work out its defeat. I'll -" t'' H."
The Democratic party is not without
interest in the financial question OF the
campaign. 1t has many wealthy mem
bers who have invested largely in gov
ernment securities, and who have been
made to understand that the Democratic
financial policy is adverse to their inter-
ests, and the interests of all classes of
government creditors, whether in this
country or abroad. Some of the richest
merchants in the country, who have new
er voted anything else but the Demo
cratic ticket, have openly espoused the
cause of Grant and Colfax, for the reason
that they are not only alarmed but dis
gusted at the mischievous and offensive
fight which has been waged against the
"blested bondholders,' as Democratic
presses and orators arc pleased to call the
holders of government securities. They
said that the attempt to yitiate the value
Of our bonds would be prejudicial at best,
and seriously damaging to the national
credit at home and abroad if successful.
Hence much democratic strength, that
otherwise would have been rallied to its
aid, is paralyzed if not lost altogether.
Prominently among tlfis class to which
we refer is August Belmont, who is a
large holder OF government securities on
his own account, and is deeply intere sted
in behalf of European capitalists whom
ne represents in this country, and who
have purchased and hold largely of our
bonds. We have been assured that the
financial plank of the democratic plat.
form IS unpalatable to him, and that he
really desires the defeat of the ticket. if
IT'S success is to give vitality to repudi-
atioH. 1t is intimated that the course of
the World was instigated directly by
him, in the belief that it would create a
storm in the party, and derange and de-
moralize its voting power. He took, in
the first Instance q masked character.
that be might in eoncealment study
closely the effect of the plot. 1t worked
as he expected. The proposition was de-
nounced and the party became divided
in its councils. Then came Belmont's
time. The only hope of success to any
ticket on the Democratic platform was in
giving heed to the suggestions of the
World, and for fear that matters might
take such a turn he made haste to unite
with lIlden and Schell in manifesto a.
gafnst it. This was the finishing blow,
and just what Belmont desired. This
rendered the Democratic cause homeless
and insured the credit of the country
against its pernicious dogmas. The
Democratic jig is up and the greenbaok
theory is exploded, and Belmont and ev-
cry man of wealth in the land, finds eause
Of profound satisfaction in that event
This is exceedingly propidential, for by
tbis movement the country has been Sc
curefy protected against an administra-
sion Of the government that would have
brought rIriR to every business interest
in the land.