The Portland daily press., 1874-07-20
RepudiatiOn Again.

The New York World, which has for some
time assumed to be the mentor, or rather
dictator OF the Democratic party, has been de-
claring that ''hard money! is an essential
principle in the Democratic creed. The
Democracy of Indiana do not have the privi-
lege of reading the elegant editorials of the
World, or else reading them do not believe
that it has the stamp of iufallibility. On the
other hand, the Indiana Democratic Conven-
tion does not declare for ''hard money" and
does declare for reputation. In view of this
1a,t the natural thing for the World to do in
the case of the bad Indanians would be to
chastise them in its severest manner. In
work of proving that the platform is "hard
money! one, and that the average Indiana
Democrat is literally stuffed with the ideas
of Benton.
That the reader may appreciate the diff
Guilty of the task which the WorlI has set it
self about, we give an extract of the financial
resolutions Of the Indiana Democratic Con-
vention:
That we are in favor of the redemption of
fve-twenty bonds in greenbacks according to
the law under which they are issued.
We are in favor of the repeal of The law of
March, 1862 which assumed to construe the
law so as to make such bonds payable exclu-
sively in gold.
We are in favor Of the repeal of the national
banking law and the substantlaton of green
backs for the national bank currency.
We are in favor Of a return to specie pay
ment as soon as the business interests of the
country will permit.
We are in favor of such legislation from time
to time as will adjust the volume of the cur
rency to the commercial and industrial wants of
the country.
The World remarks that the most of the
above is ''surplusage," but that journal
gravely deduces therefrom enough to satisfy
it that the democratic crowds of Indiana
tell their statesmen to head their ship to
hard money harbor." If the World begins
thus early to see hard money and honesty IL
currency expaniny aud regulating platforms
it will De prepared to be the first to yield to a
repudating platform in 1876, as it reluctantly
did in 1868.
The New York Tribune, which in 1872 be-
longed to the same party as the World, says
that "the Indiana Democrats explicitly enun-
Si"pS -" PoiSy VI ASPuuoop'u, WiNCu IL Gull
denses into two propositions as follows:
l. Depreciate the value of the greenbacks by
substituting them for national bank notes, by
paying off the five twenties with them, and by
adjusting the volume of the currency to ''the
wants of" the insolvent debtors of the
country.
III. Repudate the greenbacks as the 0ssignats
aud continental money, and every kind of paper
money always has been repudiated after pas
stag that stage of depreciation to which the In
diana treatment would soon reduce the already
dishonored promises of our government.
The Cincinnati Enquirer, a Democratic
organ nearer Indiana and more in harmony
with the mass of the party than the World,
furnishes the following comforting statement
for that journal and its associl tes that are
trusting 'shard money" meaning out of the
Indiana resolutions:
The action of the Indiana ID amocracy Dor
rows significance from this fact: 1t is so COM
plete!y the line of the belief of the great bulk
of the Democratic party that the Democracy of
nearly thirty states will echo it's platform
almost as involuntarily as the hillside echoes
the song in the moonlight. 1t is six years and
eleven months ago to day that the Hon. Geo.
II Pend eton made the first public annuncia-
ton of financial doctrine almost identical
with that which the Indiana Democracy de
clared yesterday. In few months twenty-six
states will have taken up the theory aud
fashioned it into creed, and the unostenta-
tious apostle and herald of The doctrine which
is now at home in the mouths of all men can
complacently rest in the assurance that the seed
was not sown by the wayside or on stony
ground"