The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1874-10-28
MISCELLANY.
THE DANG Err OF IT.

The lesson OF the elections i'll ONO ana In
diana discloses a new danger to the interests
of the country. We put upon 1t the same con-
struction made by the great Democratic Or
gan of the Central West that their victory
" means that the volume of the currency
should be enlarged. Itmeans that the green
backs should be substituted for the national
bank currency" The same authority de-
nounces Senator Thurman for what it calls
his g Wall street policy, I" and the Cincinnati
Gazette, Republican, tells no more than the
truth when it says "On platform Of re-
pudiation, initiation, anti-temperance, and
carried the State of Ohio by decided major
ity,n
No sophistry can change Che conclusion
The side issues of Temperance, Grangerism,
and the like, were used as they always are,
fol- the accomplishment of a more centre, pur-
pose. They were mere makeshifts and cx-
cuses. The vote of the States of Ohio and
Indiana was a vote in favor Of the issue of
more iredeelnabie currency by the Govern
ment. and the substitution of printing ma
chine in Washington for the safe and sound
currency we now have from the National
banks. Il is a Reputation OF specie payments
a declaration that even our bonds, upon the
good faith of which, pledged as they are to
be paid in gold, our National credit rests shall
be paid i'm rredeemable promises to pay. We
are compelled to the conviction that this is
the true solution Of the elections in Ohio and
Indiana. The people Of those States have
voted for imitation and reputation, whether
they intended to on not. Their leaders were
opeu and avowed. Their platforms were ont
spoken A fight was made in both States, but
fortunately unsuccessful by the Democratic
leaders against two or three Democratic can
ddates for Congress, who were "unsound
on the financial question, and were known to
be in favor of the payment of the National
debt in gold. They barely escaped defeat at
the hands Of the in1ationists of their own
party
1t is the wiser course to accept the stua-
ton as we find it and to take in the full sense
of the disaster involved in the return of the
Democratic party to power. 1t is not alone
that there would he an abandonment to a
perilous fate of our Republican allies at the
South, that they would be more than ever
harried prosecuted. ostracized and murdered
That would be disgraceful enough, shame
full blot upon the record of onr party. But
to encounter that humiliation and then pay
for it by general disruption of our financial
system, by the overthrow of our National
banks by the establishment of a currency
without limitation and without security, by
the loss Of credit abroad and return to shin
plasters at home, by an imitation which would
provoke the widest speculation and most
reckless investments, all to end at last in
crash which would be whole year of Black
FRIDAYS and a ruin which would outlast the
presept generation is what Democratic
success means.
of finance We know whether we know why
or not, that whatever we have of material
prosperity, sound business and substantial
gains, rests upon stable currency and upon
the faith of the financial world that we will
nav our debts in gold. The moment we aban-
don that believe will not call it theory,
for it is convction-our manufacturers will
ind themselves cOiHptiitu W suSPenu oPcid-
tions or to engage in the delusive business of
selling iron and steel and woolens and cottons
for nice little engravings on bits of paper.
1t remains to be seen whether New jersey
is ready, on the strength of the Third Term
craze or the passage of local law affecting
the jurisdiction of single inferior court, to
help on this Democratic triumph of initiation
and Reputation in Ohio and Indiana. What
ever pledges the Democracy of New Jersey
may make to suit our well established policy
as a State, however they may call themselves
Tariff men and Specie Resumption men here,
they must act in Congress with their party,
the bulk of which is made up Of avowed in
lationists and free traders-men nominated
and elected as such without the pretence of
disguise. 1t is time that our business men,
our manufacturers and mechanics, aroused
themselves to this view of the case and to the
danger it threatens to all that we most value
in our commerce.