Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1874-09-10
The Democratic Platform.

the difference whether the currency
policy shall be toward stability and
specie payment, or toward bOttomlesS
initiation. A considerable army of the
old wheel-horSes of the party could not
throw Off the old Democratic ''hard
money" traditions, and these had with
them some strong men, such rs Senator
Thurman. On the other hand, the adj
venturers, who are always seeking
some new dodge for succtSS, fancied
that paper money imitation was the
IhinG. These were the most numerous
at the Convention, and the most clam
OrOu5.
70 prevent a split in the party, a
compromise WAS requisite; not IA COM
promise by which an agreement is
come to in principles OF policy, but a
double-faced declaration, which either
faction could cOnstrue ON its own side.
This was the necessity, and the plat
form maker accepted it fully, aud has
turned out pretty cOntrivauce. First,
there is declaration that "a sound
/ currency is Indispensable ii the welfare
of the country; that its volume should
( he regulated by the wants of business,
and that any laws that interfere with
such natural regulations are vicious in
principle and detrimental in their eff
/ fects."
/ This is the Thurman face of the
! thing. The term sound currency was
/ never yet thought to mean incon verti-
/ ble paper money. 1t cannot mean a
/ currency Of variable Value, rs an incol-
! vertible currency Of unlimited issue
must be. The regulation of its volume
by the wants of business, especially
when further qualified by the phrase,
natural regulations" and the con-
demnatiOn of all laws that interfere
with ''such natural regulations" means
that the volume of currency shall be
such as, under natural laws, business
creates. Everybody knows that there
is currency enough in the world, and
that the United States are producing
and sending off the metal of hard mon
ey TO the annual amount OF fifty mil
lions e year, and that if left to natural
laws, business would draw this to keep
it here.
These are declarations fairly suscep-
tible of the construction of specie mon
ey, and the repeal of all laws that stand
i'm its way. Then comes declaration
''in favor of such increase of the clrcu-
lating medium as the business interests
of the country may, from time 10 time,
demand" This may seem to favor in
flatiOn, 1t is cunningly drawn. 1t
may be loosely interpreted ty mean
that, but it does not if strictly constra-
ed. All are in favor OF such increase of
the circulating medium as the business
interests demand. Every rational man
knows that where business Interests
demand this increase they make it; for
they have all the world to draw from.
Besides, this is to be construed Jy the
previous resolution for a sound curren-
cy, and ag inst all laws that interfere
with the natural regulation of money
by business.
Senator Thurman has the currency
plank; though he has had to play very
sharply for it. 1t is what Hamlet
would call "a knavish piece of work"
He has contrived to make theory
which, we think, the New York
World will find a construction for that
will suit, and at the same time to make |
the infiationist5 think itsquints toward |
initiation.
Then follows a resolution for receiv- |
ing greenbaeks for half the customS.-
This coupled with strict interpreta-
tiOn of the foregoing, means thatgreen- |
lacks are to be made equivalent to |
specie payment. 1t is a declaration of
no moment. 1t means something or
nothing, as any may desire.
A resolution declares with saving
clauses that nullity it) for abolishing
the national bank currency, and issu-
ing greenbacks in its sic I'd. This i
meant for nothing but buncombe.-
When was this Democratic principle
born? Less than four months ago
Democratic journals were crying for
the bill to create tifty-siX millions more
of bank circulation.
The platform resolves the five-tWen-
ties payable in greenbacks. On this
the Democratic journal of this city has
made several revolutions in
few weeks. First it was vehemently
for paWability in greenbacks. Then it
that such resolutions were in
for it had become matter
of small :tioment. Then it demanded
a declaration of greenback payability.
If the Thurman face of the platform
sticks, and greenbacks are to made
equivalent to gold, what matters the
of the bonds in greenbactS ?
But if Democracy dared, it would de-
clare them not payable aC all.
the resolutions as to taxation of
bonds is double faced. 1t is designed
10 suit the rrpudiatUrs, yet it does not
resolve that the bonds shall be taxed.
It argues they ought to have been. If !
ponds are to be taxed, that must be a
condition in their issue. There is no ,
objection to it then, except the foolish
less of discounting the tax in placing :,
oan. But to issne bonds on condition :
bat they are not to be taxed, is to re-
Glue in favor of swfndling.
The tariff plank is drawn by the
anne cunning artficer that framed the y
urrency resolution. 1t resolves friend
hip TO all industries; exclusive privi-
eyes to none, This may be construed
0 mean protection or free trade. 1t -
OeS not declare against the protective !.
ystem. 1t declares against "the un- ;,
list and oppressive features of the eX- =
sting tariff laws" OF course we all -
re oppos d to all unjust and oppres- :,
i've features. Then it resolves for "a !,
evenue tariff" That makes it clear as ot .'
lud. a. a.
The other resolutions ore much shop ~ :.
'orn. The platform expresses an q
pinion unfavorable to the Republican e,
Irty. Yet We presume it will allow 70
lat the Republican party has its uses f.
| time of Democratic secession. Then -, =,
| comes to the liquor question, on ~ ~
hich it performs the dodge of resolv- -
lg in favor of the General Assembly, ~,
lbmitting to the people Il license a
nendment to the Constitution, g.
lex to dupe the German vote two 81,
ears longer; and then the thing will in,
J as it now is. BY this they hope to S;I
'ade the German demand for the re- a.
sal Of the prohibitory and compensa- OF of
on laws. Perhaps the Germans who ~, y,
I'VE gone to the Democratic party for ~
)thing but this matter, will be green ~
lnugh to be trickeI in this cheap way. -,
Senator Thurman must have put his u.s.
ind to making this platform. 1t is of