The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1874-07-30

I
PRIEoIPLEs-ouE FINANCIAL WANTS
THE RESPONSIBILITIES OF THE RADICAL
Il PARTY.
Below We give some Of the leading
: points Of the excellent speech of Cover
nor Hendricks. in the indianapolis Con-
vention on the 18th inst. They are wof-
thy the careful consideration of every
thinking man:
You will hardly expect me to refer at
any length to the declaration of principles
! and purposes which should constitute
your platform. "A rigid economy in pub
hc expenditures, never exceeding the sb-
solute wants and demands of tie public
service: unconditional obedience to Con-
stltuhonal prohibitions and close ad-
berence to Constit1tionalre rec quiremests, in
all Official conduct integrity 70 prevade
and animate the public service, and re-
forms to be wrought out whenever need
ed local self-goverrmeut and the reserv-
ed rights of the States, in accordance with
the spirit Of the Constitution, to be pre-
served and maintained; and the legal
subordinate corporate and all special
rights and welfare OF society are we'll
known and conceded sentiments Of our
party, but they cannot be too often reas-
serted, Il
We desire to return to specie payments.
It Is q serious evil when there are COM
mercial mediums of different values; when
one description OF money Is for one class
and purpose and another for another class
and purpose. We cannot too strongly ex.
press the importance Of the policy that
| shall restore uniformity Of value to all the
money of the country, 90 that it will be
always and readily convertible. That
| gold and silfer are the real standard Of
value is q cherished Democratic sentiment
4 not now or hereafter to be abandoned.
| But do not look to any arbitrary enact
ment of Congress for a restoration of
| specie payments. Such an effort now
! would probably produce widespread COM
merQal disaster. A Congressional decla-
! ration cannot make any bank note worth
as much as your gold dollar. The bnsi-
ness of the country alone can do that.
When we find the gold of the country in
creasing then We know that we are NOV
ing in the direction of specie payments.
The important financial question is How
can We increase and make permanent our
! supply Of gold The reliable solution is
by increasing our production and thereby
| reducing cur purchases and increasing our
who produces more than he consumes Of
articl:s that are wanted in the market, and
suppose that is 80 true of communities
and nations.
How can the Republican party atone to
the people for its evil politics which have
driven gold from the country and rendered
return to specie payment more difficult
and made its postponement inevitable 2
That party has exeFted all its powers to
make our debt foreign one, and for that
purpose and to that end has established
singular relation between our government
and a European Syndicate or combination
of banks giving great advantage IN thu
arrangement. Now every payday large
sums of gold are sent abroad to pay inter-
eat coupons, the red blood drawn from the |
veins and arteries of the country. be. !
lIeVe it would be better for the country TO |
pay a fourth or third larger per cent. |
upon our bonds to our own people than to |
foreign holders. ireland was made poor |
By her landlords, who expended their rents |
abroad Cheap Chinese labor eats at the |
vitals Of our prosperity on the Pacific |
Coast so long as the wages are sent back |
in gold to China. The farmer grows Door
eF-excry-yeNE-rhe FetRFasno uouFishnlent |
to his helas.
Our foreign trade has been largely |
against us. The difference between our /
exports and imports has been supplied in |
interest bearing securities and coin. This |
great and constant drain upon our gold |
has contributed to the depreciation Of our |
paper currency. SIX years ago, at the |
commencement of the gubernatorial con- |
test J had occasion to speak upon Lhls sub !
ject. I then said:
"We can not meet one dollar OF our for !
eigu indebtedness with our paper currency |
and therefore, when the balance of trade is |
against us, it is constant drain upon our |
gold and SILVER. How long can we en-
dure this without financial ruin And
when can we return to q cpecie basis, II
the specie be constantly withdrawn Our
reliable remedy is in an increase Of pro- |
duction, especially Of those great staples |
that command the foreign markets. Then !
the specie will how to our shores in pay
ment for our productions; then re will
sell more than We buy; and the our T.
naneisl difficulties will rapidly dis |
appear and We will soon stand on specie |
basis"
Cotton and tobacco are the most i'm
portant staples in our exports, and some- |
times exceeding all other commodities. |
Since the close OF the war it has been the |
suggestion Of wisdom to encourage their |
production In the largest possible quantl-
ties, "a 1t has been the dictate OF humanl-
ty, Christianity and patriotism to promote
reconciliation and harmony between the
sections But political and partisan IN
teTests have been made paramount TO ho-
msnity and the welfare Of the country.
But governments have been established,
+ III ,ta1vs he
South. Intelligence and virtue have been
placed under the dominion and servitude
Of ignorance and vice. Corruption has
borne sway public indebtedness has be-
come frightfui, and taXes toe heavy to
carry, and development crushed and enter
prise manacled. In a word, il has been
the government ofhatred; and all this that
party might bear rule Are not Virginia
and Tennessee and Georgia and Texas
green spots of the South And why
Because they are able 10 throw off the hor-
Fible despotism before their utter ruin was
| consummated.
Who, to-day, would buy lands for son
or daughter II South Carolina? For
the good Of the whole country, would
rejoice to zee prosperity restored to the
| land of the sugar cane and cotton plant.
As said in the Senate, would have the
WnOle country ala II restoring luo 4cFoeS
that hold the mighty river in check and
reclaim the whole country from inunda-
ton: the country that Jefferson acquired;
the lands that the people fought for rather
than surrender.
An increase Of twenty per cent. in the
production Of our great staples would turn
the balance CT trade in our favor and the
current Of gold toward our own shores,
/ contribute to an early resumption Of specie
payments more than any enactment OF
Congress:
In February, 1871, the District OF Col
umbia was placed under new form Of
government. Tho Governor, board of
| Public Works and many other officers and
one branch Of the Legislature, were ap-
pointed by the President and confirmed By
| the Senate, and the more numerous branch
I Of the Legislature was chosen BY the peo-
pie in the District. If capable Of main
tanning good government. the opportunity
was most favorable. Under the eye ofthe
President and his Cabinet, with aparty IN
such majority as to exclude all Others,
none could hinder; they had their way and
developed their tendency. But psrtiality,