The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1871-09-05
The Devil Puzaler" q Success,
The Democratic Candidates. Views On
the Financial Questiou.a
He TRIES TO EvADE THE GREENBACK ISSUE.
AND GETS INTO WORSE DIFFICULTIES,


we thought so. 1t is not to be expected
that man of Mr.. Kimbals industrial habits
can avoid breaking his shins in stumbling
around among the hard paradoxes of which
the Democratic creed is made up this year.
A "hard money" party that adopts "Pendle-
tonism,'a new departure" party some OF
whose State aud nearly all of whose county
conventions are still controlled by Bourbons
that will not hear of departing, constitution
al party that .'denounces the means by which
the constitution became the supreme law OF
the land, democratic party that embraces In
its membership all the adherents of aristo-
cratic forms of government in the country
how can a simple laboriDg man and mechan-
ic be expected to fathom these mysteries, as
he cons his Argus by the Pickering freight
when he comes home at night worn out by
The labors of the day? How can he be ex-
pected to harmonic things as irreconclable
as mans free will land the Creators fore knowl
edge, or the account of creation in Genesis
and the theory of Darwin seem to be? We
are little surprised, therefore, that, in reply to
the question we have industriousIy asked of
all the Democratic authorities since the Au-
gusta Convention, whether the words "lawfu
money" in the Democratic platform mean
greenbacks or not, he does no more that have
the Argus publish the following extract from
speech delivered by him in 1868:
SWELL" says tsic) some of our Republican
friends, "what do you Democrats propose to
do when yon get the power" When the
Democrats get the power, they propose to cut
down the expenses of the government at least
one hundred millions per year. When we
have deducted thirty millions of dollars from
the expenses of the army, ten or twelve more
from the Freedman's Bureau and other things
in proportion, and used all surplus money in
reducing the public debt, and the people see
the government is in the hands OF honest men,
then there will be little difference whether
the bonds are paid in gold or greenbacks; be-
cause when we get the right man at the helm,
and the government on a sale foundation,
greenbacks will be worth as much as gold. 7
Now this evasive declaration may have
ceivably preposterous now. Since Mr.. Kim
ball spoke those words the annual expenses
of the government have been cut down more
than one hundred million dollars the ex-
penses of the army have been reduced thirty
millions, the Freedmans Bureau has been
far as practicable, the surplus money to the
amount of nearly two hundred and fifty mil
lions has been used in reducing the debt, and
there has been such an increase of honesty
under the Republican administration of Grant
over that of the Democratic administration of
johnson, that the former has collected in its
first two years $66,515 ,953 more internal rev.
enue than the latter did in its last two years,
Notwithstanding reduction of $45 100000 in
taxation by acts passed in 1868.
All that Mr.. Kimball required and much
mole than he dared to promise for his party
has been accomplished by the Republican
party without cheating the national creditor
out of cent or impairing the public credit
by threats of reputation. eBut it still does
make very material difference whether the
bonds are paid in greenbacks or gold, Mr..
kmbalFs predictions to the contrary not
WithStanding. Nor is it much wonder that
these paper promises continue to be at dis
count of ten or twelve per cent, when we
have large minority of the American people
threatening that if they become the majority
they will add immensely to their number, be-
sides shaking confidence in the stability of
the government by a continued refusal to
submit unhesitatingiy to the constitution.
If Mr.. KimbalPs proposition means any
thing, therefore, it means that his remedies
for 1868 are still good. He would, for in
stance, reduce the expenses of the govern
ment another hundred million, beginning
with the army. Now the estimates for the
army for the next fiscal year are just thirty
millions, and as Mr.. Kimball's proposes to de-
duct so much, his plan is evidently to abolish
that arm of the pnbc service altogether not
so bad plan, as it seems to us, but one that
will hardly commend itself to all of his Dem
ocratic associates. And if the expenses are
cut down an additional hundred million
somebody has got to be robbed. 1t is current
ly reported that Congress, at its next session
will take off fifty millions more from the taxes,
but this is as far as we can now 60 without
repudiating the interest ON the public debt or
emitting off our military pensioners, whose
payment the coming year will require more
money than the support of either the army
or the navy. Whom will Mr.. Kimbal ROB-
the government creditors or the pensioners
But it is extremely doubtful if specie say
ments could be reached by way of re puda-
ton. The credit of Mississippi was badly
damaged, if we remember right, in that way
And the Democracy of to-day are everywhere
committed againt return to specie paw
ments, and Mr.. Kimball is as singular in his
adhesion to that doctrine as he is unhappy in
his'ssggestions as to carrying it out. In Ohio,
where the "new departure" begun, Democrat
ic orators are on thei stump to-day proclaim
ing as an integral part of the new platform
the abolition of specie as standard of value.
They propose to issue Immediately, if they
can obtain the ascendency, one billion of dol
lars additional currency and to pay the FIVE
twenties i'll this paper which they do no. even
promise to redeem.
Besides this large imitation to begin
with, it is proposed to expand the volume
of the currency still further by the regular
annual issue Of twenty-five millions. No
man can foresee the extent of the deprecia-
ton that would ensue. Under this manage
ment, which is the only thing proposed by
the Demycratic party, how long would it be
before ''greenbacks would be worth as much