Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1874-07-21
A NUT FOR HARD MONEY DEMO
GRATIS


1t has been so often repeated in boast
ing manner by democrats in New England
that their party is ''hard money party,
an .honcst man IS" party, as though they
were superior in financial soundness to
any other party, that they arc greatly dis
turbed by the platform of the Indiana de
mocracy adopted in their State Conven-
ton. This platform not only fayors inha-
ton of the currency, but declares in favor
of the Pendletonian plan Of population
the payment of the bonds by green
backs. They would make greenbacks SO
plenty as to be nearly worthless. and then
pay the bonds with them. The resolves
bearing upon questions of finance adopted
by the Indiana democracy are rs follows
Resolved, First That we are in favor of
the redemption of five-twenty bonds in green
backs according to the law under which they
were issued
Second-We are in favor of the repeal of
the law of March, 1869, which assumed to
construe the law so as to make such bonds
payable exclusively in gold.
Third-We are in favor of the repeal of
the National Banking law and the substitution
of greenbacks for the national bank currency.
Fourth-We are in favor of a return to spe-
Gle payment as soon as the business interests
Of the country will permit.
Fifth-We are in favor of such legislation
from time to time as will adjust the volume of
the currency to the commercial and industrial
wants of the country.
If the democrats can stand up in the
face of such resolutions and claim to be
sound and honest on financial questions,
they must be possessed of good deal Of
cheek. Some of them pretend to say the
resolutions were struggled into the Con-
vention by republicans, Or that they were
the work of Dan Voorhees,, but such ex-
cuses and evasions avail nothing but to
expose the difficulty in which the democ-
racy are plunged.
The New York Herald says:
1.-The Indiana Democrats have received,
indorsed and promulgated the reputation
doctrines on which Pendeton made his un-
successful and inglorous canvass for the
Democratic nomination for the Presidency in
1868. 1t would have seemed incredible.
previous to the fact, that a body of sane men,
assembled for opening political canvass,
should pick up the dead horse of reputation
set 1t on its legs by arty propping, and
gravely mount 1t in the expectation of win
ming the race. How is it possible that they
could 80 misconceiye the public sentiment Of
the countryg"
The Tribune is badly grieycd about this
newly discovered financial rottenness
among the democrats, and makes bold to
say that the party adopting them is repu
diation party and destitute of common
honesty and common sense" 1t says:
These are the "principles" of the Demoe
racy Of Indiana, and they are the PRINCIPLES
Of that Revolutionary Government which paid
the public creditors of France in assguats.
and then rePudiated the assiguats. The duty
of the United States Government when the
war closed and the Treasury found itself with
ample funds at its command, was to pay the
promises which it had made legal tender
This was but common honesty but common
honesty was thought too expensive a course
for the Government to adopt in its dealings
with its creditors. The Indiana Democrats
explicitly enunciate policy of reputation,
which We condense into two propositions:
l. Depreciate the value OF tie greenbacks
BY substituting them for national bank notes,
by paying off the fye-twenties with them, and
by adjusting the volume Of the currency to
the wants Of ''the insolvent debtors Of the
country. &k -
2. Repudate the greenbacks as the assign !