The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1869-09-10

lctuillelI vi euc pCOtDlc Wy SIateS, IN
the unity of The nation, are essenti;
laws OF our past growth and life. ,
which our written Constitution is br
the formal expression, and must b
fundamental with the national ds
mocracy, whose policy must be brol
enough and wise enough to maintai
the one without weakening tile othei
Ii is the combined action OF the tw
principles which gives our demQcrati
representative system its power of eS
pansion, and makes it work to th
wonder and admiration OF European
statesmen and philosophers. Leav
ing the right OF selfgovernment t.
the people, and removing from tn
States all the burdens OF armies, na
vies, lines of Qualifications, diplomati
representatives, coinage, postal sys
tenn, and that host OF offices whicl
subtract from productive iLSsst tr,
and devours its products in the State
Of EurOpe, it frees commerce ant
travel from varying standards o
weights, measures and values, from
State tariffs, passports and spyinS
oliicialisn, and provides that the citi
zens of one State m"y obtain redress
or payment OF claims from those o
another, without the interminabl,
Operations and delays OF diplomacy
by the intervention of courts of law
''Based on these laws of our lift
and growth, and repudiating ihc doe
trine that might makes right Amer
lean democracy holds that liberty
consists in the obedience of all tC
Just law; that these laws should bs
the fewest and simplest possible,
leaving the utmost individual free
dom OF thought aud action, consist
ent with equal rights AMI Impartial
Justice; and where individual action
must be regulated by law, seeking
always 'the greatest good TO the
greatest number
This is the Democracy LaGiieve
in, and to which | am proud 20 be
long Permit me, therefore, to indi-
cate, among the measures called for
by the present eXigencies, the fol-
lowing in reference TO the public
debt, currency, revenue and protec-
tion,' class legislation, offices and
tenures OF executive patronage, suf-
fragc and the caucus system.
"The enormous interest on our
public debt is producing the most
fearful inequalities in the distribu-
ton of capital, bringing the Govern
ment into the money market as q
borrower ut an average OF eleven
and one hail per cent. per annum, to
compete with the private borrowers,
and moreover giving 10 bankers
holding lis bonds, not only the inter
est, but the right 20 issue notes on
their credit, and use them as money,
under the national banding Law
This is forcing the very life blood Of
capital from the West and South; in
fact. from all the extremties where
its circulation Is cSpeciffNy HiCeGst,,
to the great eastern countries OF cap.
ital and speculation, and by putting
an enormous price on capital in a
country whose industrial and busi-
ness development requires q great
deal of cheap capital, is gnawing at
the very vilals of the industry and
business of the great mass OF people.
TO arrest these devourIHg evils de-
mands the most prompt redemption
of our bonds, according TO the law
and equity OF their issue, and that Ma
tional Bank notes should be made
payable in coin on demand. To eff
feet this We must diminish our eX-
penses az home, establish confidence
IN our political and administrative
q bility, and increase our credit
abroad, until our bonds in for
eiyn markets are worth what our
ability and certainty 10 pay warrant;
and then, from the proceeds Of the
sales of a new issue, hearing = rea
soma BILE interest, and subject TO rea-
sonaisle taxation, promptly redeem
every existing bond the fiiJmcnt it
becomes due. No local declarations
inviting = popular prcjadgment Of
any le gal questions about The Terms
Of pay .nent of the national bonds
should impair the priceless value of
public credit, at a time when it is all
importa.1t to create tie spcedicstI
means OF ridding the country of those
expressions; but every
Democratic platform should tend to
raise higher and higher the public
credit, and To- satisfy the people of
Europe that the Democratic party is
The last party in the United States
that proposes to whine or act relnc
tantly about the payment Of the pub
lie debt, even though its present
holders should have bought it below
its fair 'Faluc.
md-An irredeemable paper
currency, or one perpctualIy iluctn
iting in value, is a gigantic fraud on
Lhe pc ople, Il concentration OF the
evils OF false weights, false measures,
and m ost injurious to all classes, bnt
To those who live by labor.
.'Tiae Democracy should assert
with renewed vigor and determine
ion its oil declaration in favor of a
spe,:ie basis, and paper currency,
at par into coin, at the
will of the holder, and should take
prompt and eilicacions measures to
raise our bonds to where the security
hey offer, and the interest they bear,
ought to place them, so as to draw
after them 10 par with
he least possible delay. This Will
relieve all classes, and especially The
aboring. and, augmeniing the value
,f our circulation twenty-five per
cent, give healthy and vigorous
impulse to every department. of busi-
ness and industry.
.rTbird-The fundamental princi-
Dles of free trade, and that all aka
ion should fall as directly as posi-
BILE on oil members OF society, in
to their ability to pay,
have always heen held by the De-
nocracy. The aim Of its legislation
must, therefore, I've as much as pos
sible to reduce the amount and di-
,ninish the number of indirect taxes,
TO levy such as IS are necessary lor
revenue, having due regard to the
principle that tie wealth of a nation
in its productive industry,
whatever favors the greatest amount
Of this in the masses is to be favored,
and whatever fosters special kinds