The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1869-09-02

of capitals bringing the Government
into fEemoney market as borrower
at an average of ll1a per cent. per an
mum currency-interest 80 per cent.
premium on the coin 80, exemption
from taxation 3 2:40-11 80 per cent
to compete with private borrowers,
and, moreover, giving to bankers,
holding its bonds, not only this inter-
est, but the right to issue notes on
their credit, and use them as money
under the National Banking Law.
This is forcing the very life-blood
of capital from the West and South ;
in fact, from all the extremities where
its circulation is especially needed, to
the great Eastern cente-s of capital
and speculation, and by putting an
enormous price on capital i'll coun-
try whose industrial and business de-
velopments require great deal of
cheap capital, is gnawing at the very
vitals of industry and business of the
great mass of the people.
To arrest these devouring evils de-
mands the most prompt redemption
of our bonds according to the law and
equity of their issue, and that Nation
al Bank notes should be payable in
coin on demand. To effect this we
must diminish, our expenses at home,
establish confidence i'll our political
and administrative stability, and in
crease our credit abroal until our
bonds in foreign markets are worth
what our ability and certainty to pay
warrant; and then from the proceeds
of the sales of new issue bearing rea-
sonable interest, and subject to rea-
sonable taxation, promptly redeem
every existing bond the moment it be-
comes due.
No local declaration inviting pop
ular prejudgment of any legal ques-
ton about the terms of payment
of the National bonds S h u Id
impair the priceless value of the pub
lie credit at time when it is impor-
tant to create the speediest means OF
ridding the country OF these enormous
expressions, but every Democratic
platform should tend to raise higher
and higher the public credit, and tc
satisfy the people Of Europe that the
| Democratic is the last party in the
United States that proposes to whine
about paying the public debt, ever
though present holders should have
bought it below its fair value.
2. An irredeemable paper currency
, OF one perpetually fuctuating in val
ue, is gigantic fraud on tho people
a Concentration of the evils of falls
weights, false measures, and worse
Injurious to all classes, but especial.
to those who live by labor.
/ The Democracy should assert witt
renewed vigor and determination, it
old declaration in favor of o speci
basis and u paper currency convertibl
at par into coin at the will of til
! holder, and should take prompt ant
j efficatious measures to raise our bond
to where the security they offer AM
the interest they bear ought to plac
4 them, so as to draw greenbacks afte
/ them to par, with the least possibl
delay. This will relieve all classe
and especially the laboring, and aug
: menting the value of our circulation
4 % per cent, give healthy and vigoI
GUS impulse to every department G
Il businessand industry.
3. The fundamental principle of fire
trade, and that all taxation should ia
as directly as possible on all member
Y of society in proportion to their abili
7tty to pay, haYesalways been held b
the Democracy. The aim of its leg
islation- must, therefore, be as muc
as possible to reduce the amount an
diminish the number of indirect take
and levy such as are necessary fo
revenue, having due regard to tn
principle that the wealth of nation
consisting in its productive industry
:. whatever favors the greatest amoun
of this in the masses is to be favored
| and whatever fosters special kinds an
classes to its detriment is to be OF
posed by the Democracy.
Al. Democracy opposes all kinds {
class legislation; refusing to rob tt
8 rich for the benefit of the poor, or IL
poor for the benefit of the rich; an
+ views with equal adherence the pa
tisan of unjust claims and the adv
cate Of the reputation of just one
: But knowing that legal provisions fl
! the security of private property gel
orally sufices for the protection of Il
4 rich, Democracy, without violatir
Individual rights, will always aim
> educate and elevate the masses of Il
) people. aaoe
D. Offices should be created on
i when clearly demanded by necessal
, public business, and such salaries
paid as the nature and Importance
d the business require, leaving no ju
: grounds of complaint or excuse fl
e peculation. -.. ...
: A policy that leads to or requir
= the multiplication of offices is AMI
: democratic, unjust and dangerous
+ freedom. A policy which chang
$ men in Office for individual profit i
= stead of public good is perversion
8 the principles OF business, anti-dem
: cratic, eorrupting and perilous to t
}, liberties of tho people,
5 Official power Is q trust for Il
It common good, which no public offic
! has right to use for his private be
4 eft, and Whosoever does so is grea
II er scoundrel than he who misappli
T.. funds in his trust, because the otfici
70 trust is more sacred and the wro
J. more difficult to detect and measul
,r Wh0seeYep obtains votes und
% false pretenses is q hasep knave tn
J. he who obtains goods under false pl
- lenses, and, on account of tho great
1t difficulty of detecting and measured
le the evil done, deserves severer pu
i. ishment and reprobation.
icE Regarding all officers as servants
3 the people and trustees of power
III the common veal, Democracy fave
ID such modes of appointment and te
Of ures of Office as reason and experier
ell show best calculated to secure go
,s. conduct and efficiency in the pub
r service, without regard to private
n, terest, public customs, er iRdivid1
ne pretensians. ~ ls#..
mt Reason and experience alike c'
h. denim frequent and needless chan:
Id ofpublic officers, and the general
n prevailing practice of making tn
for personal benefit instead of pull
nd good, is acting in great matters of
ne State and Nation on principle VIII
an would ruin any private business, q
sts unless coprectad, will bring the
- minlstration of froo government |
EST deserved contempt. 1t is essentis
1T opposed to the principles of democl
int ic government, and it behooves
ITS Democracy of the United States
III make war on the practice, with
by truce or delay, returning to the j eff
| n,l 81 sol Sno =