The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1871-09-01
THE OHIO CANVASS.
Speech Of JOSeph MediII, of Chicago,
n at Columbus. az. n


State platform with the plank in Vallan
digham's platform, showing that whilI
the Inter was return TO the ancient faitl
Of the Democracy, and means the honesl
payment Of the national debt, the lAttel
means reputation. Not tho least re
markab BILE thing connected with this flnan
cial departure Is the fact that only the
Ohio Democracy have taken it. The
Democratic organization In no other State
West or East, South or North, are adVO
eating in their platform the payment OF
the national debt in irredeemable notes,
or u material expansion Of the existing
currency The Ohio Democracy must
think they hold a mighty good hand to
play this game Of backgammon alone.
The ellectol Gen. Ewings scheme would
destroy the value of the currency, note,
or bond, said the speaker, which Is worth
To tho holder that in which 1t Is TO be paid,
provided tho maker Is known To be sol.
vent and punCtuAl. II 1t calls for gold,
wheat, cattle or iron, It Is worth what they
are worth; II 1t calls for chips or
ChatF its worth 50 much, and more II its
to be paid in RpOther promise, and that
promise Is redeemAble only in lha- first
promise, then it is worth nothing because
1t Is merely wind redeemable In wind.
The interest on such q bubble bond
might as well be 80 or 80 per cent as 8
per cent, as 1t will cost the maker no
more to pay one rate Of bubble interest
than another. II Is Obvious that the Rgi-
thOrs Of the Democratic financial plank
have discarded the science Of political
economy and treated the experience Of
mankind with contempt. They cody and
concertGdly brush away and reject tho
universal conception of tho difference be.
tween capital and credit value and prom.
ise money and notes. The nature and
functions Of gold and that which gives
value to q promise TO pay they leave en-.
lirely 10 sight payment and redemption,
and teach that they, the Federal Govern.
ment, has tho power TO stamp the actual
value on that which in itself has none;
that II can put forth an almighty flat that
will transform an airy nothing into an
equivalent of all values, or give That
whichis worthless the purchasing power
Of solid coin. The Democratic COnVen-
tiOn propose to make the green backs read
like this: "The United States promise TO
pay tho bearer ten dollars, payable at the
Treasury of the United States at Wash.
ingtOn." But this promise Is made In
PiCkwickian sense and Is, never to be re.
deemed in any tangible substance, especi.
ally not in gold or silver. This is the
idea, whatever the form OF words may
be. Is II possible to conceive any scheme
more prep0sterous -.-,--..
The speaker then considered the ques.
tlOns Of political economy and finance In.
volvcd In the proposition In the light Of
experience, as accepted principally by
tho world To show how the'proposed
new departure is at variance with all
these, and what the effect would bc on the
business Of the country, he said: 1.-THE
Democratic financial plank Gets forth this
reason for paying the bonded debt in new
issues OF irredeemable and, as have
shown, worthless notes, viz: that the pub.
lie creditor is entitled 10 lIe paid In the
same currency he loaned tho government,
and that when he loaned greenbacks he
should be paid greenbacks, until the con.
tract otherwise provides, AMI when he
loaned gold he should bc paid In gold.
General Ewing, who heartily endorses
this proposition, seeks To- create the i'm.
preston on tho public mind that the Gov
ernmcnt only realized forty per cent Of the
gold value for its bonds. Therefore the
iS'i paiS nsnvid n ho rnresJ ~ nioId th"," % hnoL
,m", p ' uo""i',ino ~" Gnrtv W Nc. oon; ~; ,,,hn, %
tI"' up' nt, snn 9rh;n X,odtIi S%nroJ VIA m
sy ',;Sy.onsn,omto,;ar "",, , ~ iLo iSo,o h"sin"
ta9i ,ho e9U "nrroncv Uos w % ni r"r t' "rd,ho Gs9i
SiSn 900 600 ~ CyyrOonLSnLs ;s,~oS A. "rIos ,
Tioo'Ovo,HyTS ~ H. ~ o. tSSo 'IG soUiiI uS u,a
Sn',, tlo au. W. nitnn:t i'TT NJ ,VSI 1.n. ;,ano @
sein'iI w ti % "' ~ ;ai .i,.i u niSt 'ssIo
ol bonus-l'G Us y. S:tan 9imIcnIIHed i'eatiy
so,u ,,', y"'ue " ,,aa .aV so9S VSee oon nne ~. he
"os .,n1 SiS s"M %"o ,Tr; T;Ho"'VTUO'TUV, ,T "nu wy
nveInse ieIllneu I' ,l..n uusiS 'nu iour yGuts VI
,s Wnr was seVeniyL,I"o pr cent II s true
IllhI ~ o,e i'eLiou olly .oLy pr ccnt -t was
Icn,l"su, o;lI tIlnt m"S ,udI uupS tuo UaIkes'
perlou vi tle Wll, ~ C, tooi, % mneh InG De
nocIAcy, ~ ~ ts Ma ,.S TU'eeO ~, .ie, ueCiaie9
thc war IalluIG, auu w lheir uCts trlcu
Wlnake II So !! u no longer poSSlD!e 20
aenl WIN tho orlglnHi purchasers OF tne
ohus, anu as m,sL oI lhe present noiuers
nave pau geLween Ninety Genus anu par
Ior tngn' ugsLrc % oeleLM eai,it Ewins vi some %
one eiSe 70 rlse anu eAplaln WhaG Iney
mean Dy Ihe eXptess,on paying the honu.
holuers IN greenDaCks' are greehDac,Ks
worm lorty per cent 10 De tenGered 70 Ihe
hOlders' Oh DOnus tiiat originally realized
the government W per cent, or ~, or
any other sum ABOVE 4O per cent; HOW
IS the present holder OF a bond, who paid
par ior y 70 De forced TO receive note
worm put lorty or my Cents, on the
Rrounu Sha1 IL was solu IN leO4 ior that
amount. a Dy What process can the gov
eLnnlcnt ~ imPAs 70 oui irredeemable note
,O,or .U Os asi Scr,s aiue am OF plLCnasinng