The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1869-09-02
WHOLE NO. 1863.


/ frees commerce aad travel from vary
ing standards of weights, measures and
values, from State tariffs, passports and
spying oaic,ai,sm. and provides that the
citizens Of one State may obtain re-
dress or payment Of claims from those
Of another, without the interminable
operations and delays of diplomacy by
The intervention of courts Of law.
Based on these laws of our life and
growth, and repudiating the doctrine
that might makes right" American
democracy holds that liberty consists
in the obedience Of all to just laws.
That these laws should be the fewest
and simplest possible, leaving the ut
most individual freedom Of thought and
action consistent with equal rights and
/ impartial Justice, aud where individual
action mast be regulated by the law,
seeking always ''the greatest good to
/ the greatest number"
This is the democracy believe in,
and to which I am proud to belong.
/ Permit me, therefore, to indicate
among the measures called for by the
present cxigencies, the following, in
. reference to
/ Oar public debt
Currency;
( Revenue aud protection
Class legislation;
. Officers and tenures;
Executive patronage;
Suffrage; and
+ The caucus system
T. The enormous interest on our
public debt is producing the most fear
fol inequalities in the distribution of
/ capital, bringing the Government into
the money market as a borrower at an
average Of lI1-2 per cent per annum
cuwency--interest 1870 per cent, pre-
MUM ON the coin 1880, exempt from
taxation 2:49-ll:5Oper cent-to COM
pete with private borrowers, and, more,
over, giving to bankers, holding its
bonds, not only this interest, 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 tie West and South; in
TACT, from all the extremities where its
circulation is especially needed, to the
great Eastern centers Of capital and
speculation, and by putting an enor-
nous pric, on capital in a country
whose industrial and business develop
ment require great deal of cheap cap
I ital, is guawing at the very vitals Of
industry and business Of the great mass
Of the people. .
To arrest these deyouriDg evils de-
mands the most prompt redemption of
our bonds according to the law and
equity Of their issue, and that National
Bank notes should be payable ID coin
on demand To effect this we must di-
miuish our expenses at home, establish
! confidence in our political and admin
istratye stability, aud increase our
credit abroad 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 reasonable interest, aud
subject to reasonable taxation, prompt
. ly redeem every existing bond the mo-
| ment it becomes due.
No local declaration inviting a pop
uIar preiulgment Of any legal question
about the terms Of payment Of the Ma
tional bonds should impair the priceless
value Of the public credit at a time
when it is important to- create the
speediest means Of ridding the country
OF these enormous expressions, but ev-
cry Democratic platform should tend
to raise higher aud higher the public
credit, and to satisfy the people of Eu-
rope that the Democratic is the last par
ty in the United States that proposes
to whine or act reluctantly about pay
ing the public debt, even though pres
ent holders should have bought it be-
low its fair value.
9. An irredeemable paper currency,
or one perpetually fuctuating in value,
is gigantic fraud on the people-a con-
centration of the evils of false weights,
/ false measures, and worse, injurious to
all classes, but especially to those who
live by labor.
The Democracy should assert, with
renewed yigor and determination, its
old declaration in favor of a specie ba-
sis and paper currency, convertible
at par into coin at the will of the holder,
and should take prompt and eficacious
measures to raise our bonds to where
the security they offer and the interest
they bear ough, to place them, so as to
draw greenbacks after them to par,
with the least possible delay. This
will relieve all classes, especially the la
boring, and augmenting the value Of
our circulation 25 per cent, give a
healthy and vigorous impulse to every
department of business and industry.
s. The fundamental principle of free
trade and that all taxation should fall
as directly as possible on all members
of society in proportion to their ability
to pay, have always been held by the
Democracy. The aim of its Legislation
must, therefore, be as much as possible
to reduce the amount and diminish the
number of indirect taxes, and levy such
are are necessary for revenue, having
due regard to the principle that the
wealth of 4 nation CONSISTING in its pro-