The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1874-06-13
Tvr ryDEpENpENT CONVENTION.

THE INDEPENDENT CONVENTION.
Earnestly sympathi5ng with the expressed
objects the Independent or new party con
ventIon which met al Springfield on Wedncs-
= day, We confess we awaited its proceedings
. with no little anxiety, fearing that the crazei
financial theorists and paper money initiation
lists by whom we knew the convention to be
beset as by set of hungry wolves, would
prove strong enough to spoil the good work
so promisingly begun by foisting into the
platform such an approval OF their crack
Drained schemes as would compel us to scout
the whole concern with disgust. Happily,
however, wiser counses prevailed, and the
convention has prudcntly committed itself no
further in that direction than is embodied in
the resolution adopted at Decatur last fall, as
follows:
That we favor the repeal of our National
Banking law, and believe that the Govern.
mcnt should supply Il lcgal-tender currency
directly from the Treasury, interchangeable
for Government bonds, bearing the lowest
possible rate Of interest.
Considering the pressure upon the convcn-
ton in the opposite direction, this is quite as
harmless as could in reason have been expect
ed of them upon that subject at present. This
resolution, to put it plainly, simply lodges
the question of specie payment. AS to re
pealing the National Banking system anG
asking congress to give the nation a uniform
OF grcenbacks, there is very little
disagreement among the people Of the west,
VIII go
out whether currency interchangeable with |
government bonds Eat the lowest possible rate
If interest" means bonds worth their face in
gold or worth 60 cents on the dollar, is Just /
he point the convention purposely avoids.
The "lowcst possible rate of interest" me
avor il one that will make the bonds, like
he present government ) per cents. worth
heir face in gold, When per cents reach
ime under sound financial system, then we {
hall favor reduction to per cent, and so {
n down, constantly adhering to the Lowest {
ossiblc rate" Happily on this financial
uestion, which in its very nature is national t
n its scope, the declaration of one state is I
OF conclusive, When the Independent Par l
Y, of which the first steps for national con c
cntion are already taken, shall! meet in its
rand council and settle upon definite '
ational creed and platform, this currency i
uestion will receive a solution that will be t
ore in keeping with the high aims of the
1ming dominant party of the nation. {
With the other declarations of the conven. Fl
on we have never, since the meeting at De. o
ltur, disguised our entire concurrence. They Il
e simple declaration of independence of o
d party letters; that parties, rs Gov Palmer a
pressed it, "are always for the present and a
we no past; that they are like babies teeth o
od for the time only, and when the tempo. il
ry purpose is accomplished, to be removed Ia
: other teeth to take their place" The old t(
rites having accomplished their purpose, o
We become "a mere joint stock company to p
ze and divide the spells of office New 81
rites based on principle must necessarily 6
me in to take their place. The Indepen. So
Mt party may have to do this, with no other Il
position than such as the moribund repub-
an organization is able to present, or anoth.
new party may startup with more sharply o,
fined ana higher aims and purposes. The In
'vement, in any event. is onward and up. te
Ird full ofhope and promise of reform re-