The daily Argus. (Rock Island, Ill.) 1873-1877, 1874-09-03

fully Dursuaded tnat specie PTfHCuSs MAJ
be resumed in year without dlsaster tt
any legitimate business interest. France
has borne a contraction OF fully one hun.
dred millions within the short space OF
eight months, and her paper circulation
has been fully restored to par, and yet her
business interests have not suffered, Ii
France can bear such contraction, after
paying enormous sums to Germany, and at
time when taxes for the support of a
great military establishment are oppres-
sive, there is no good reason to doubt that
we cannot bear an equal contraction now,
when the public burdens compared with
those of France. are light, and when many
millions Of paper are lying idle in the
vaults of banks. But there are very many
who entertain different opinion, who
fear some dreadful calamity as the result
Of adopting the only policy which can re-
store specie payments These men are
likely to hold the same opinion next year
and the year after, and the time may new
er come when they think it possible to re-
sumo, without disaster to business. We
are not likely ever to resume so long as we
keep talking about disaster as a necessary
consequence Of removing paper to make
room for specie. The only way is to put
aside all croaking and take hold courage
ously, and retire paper until it rises to
par To merely oppose initiation is not
enough If we stand still we shall be
driven back. The only way to succeed is
to go forward,
To talk about resumption "by the pay
"ment of the national Indebtedness in the
money of the civilized world, is hardly
worthy of body of bold and progressive
men, unless the phrase national indebted
ness" is meant to include greenbacks as
well as bonds. 1t properly does include
them, but it would have been much better
to have sd stated We may go on paying
off the bonds in coin until the coin is re-
deemed without advancing one step nearer
to specie payments. The only way to
move 10 that direction is to pay the clrcu.
lating notes, either Of the banks or the
government in the money OF the civilized
world. The truth of this may as well be
recognized first as last.
1t is well that the convention did not
stultify itself by nominating the Texas
steers candidates. TO have nominated
both of those men, who had already been
placed upon an irredeemable shinplastcr
platform would have been to rob the con
test and the result Of all significance. In
case of the success Of the candidates the
shinplaster lunatics could have claimed
the victory with far more justice than the
hard money men could have done. 1t was
of the highest Importance that at least one
of the candidates should be the nominee OF
the hard. money convention exclusively
And it was fitting that that one should be
the candidate for treasurer. AS to the
candidate for school superintendent, there
was no improperly in taking up MIR. Etter,
especially as he was understood to be in
favor of the hard money platform. 1t was
sufficient for the purpose OF making up the
issue that the convention should nominate
its own candidate for treasurer.
1t is also fortunate that every attempt
to convert the opposition signally failed.
A state central committee was appointed,
but it was not labeled Democratic and
Mr. Pixies resolution giving instructions to
"the state Democratic central committee,
and directing that the basis of representa-
ton in future opposition conventions
should be the Democratic vote cast in
each county at the general election held in
November, 1872, was promptly tabled
L he new parry, lntItiote, pTuCidiuls ltSci
to be, not the Democratic party, nor any
thing but party holding the doctrines
enumerated in the platform Of principles.
OF the immediate success of the new
party its friends may not be very sanguine.
Of its ultimate success not in Illinois alone,
but in the whole country, there can be no
doubt The people in some parts of the
country have been badly bitten by the
paper money snake, and it may take them
a good while to get the poison out of their
systems. But the majority of the people
are honest, and being honest, they will
eventually come upon the opposition plat
form, because it is the platform of honesty
If the new party shall be defeated at the
coming election it will have no cause for
Encouragement. The right will triumph
at last. And for the present, better defeat
in fighting for the right than success in
fighting for the wrong. - Chicago Times