The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1874-07-19
YOU PAYS YOUR MONEY YOU
TAKES YOUR CHOICE.

please everybody by declaring FOR aud
against everything.
The arraignmcnt of the Rcpubli
can party fer crimes of omission aud
commission, is well enough. All the
Democrats will endorse it, and most OF
the Republicans.
But when the platform attempts
to declare the position Of the Demo
cratic party on the vital issues of the
day, il becomes wonder and mys-
tory.
On the financial question this is
the position. or rather positions, the
Democrats of Indiana now occupy
I. They favor a return to specie
payments. That is to say,they promise
that if the Democratic party is put
into power, il will so manage the fnan.
cial affairs Of the government that cy-
cry dollar of greenbacls in circulation
will be paid in gold on presentation
for redemption
.. And they also favor the payment
of the ) 20 bonds in grccnbacks;
3. And they also favor the substitu-
ton of greenbacks for the national
bank currency.
These are the most iueonguous posi-
tons.
They would pay the greenbaeks in
gold but they would pay the j.20s in
grecnbacks. That is to say, they
would in order to bolster the Pendle.
tonian doctrine, whip the financial
devil around the stump--would pay
the bonds in grcenbacks and then pay
the grcenbacks in gold
{ ave desire return to specie pay
.ments, gay the Indiana Democrats.
What do they mean by this dcclora-
ton? If anything, that it is dcsira-
Die to have u grccnback dollar worth a
gold dollar. II this is desirable, can
the object sought BE- obtained by
throwing upon the country groenbacks
to the amount of the face value OF
the $40 bonds aud the national bank
currency? Would the day of specie
payments be FASTENED by Withdrawing
promise to pay gold years hereafter
and substituting promise TO pay gold
on demand, when the only obstacle
now standing in the way of resump-
ton is the fact that the government
has not enough gold in its vaults to
standing and due-thc present volume
of grecnbacks? Certainly gold ro.
sumption would not be FASTENED by
such a policy, but be indefinitely de.
laycd.
Another thing. The Indiana Dem.
ocra'a say awe 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
We are not sure that We understand
this declaration but, as we construe it, it
Is inconsistent with the idea of paying
the 5-2O bonds in greenbacks, and is
decidedly nm Democratic. ~
Let Us analyse the declaration
!. In it we find the assertion, that
the volume Of the currency ought to
be regulated by the commercial and in
dustrlal wants Of the country or, in
other words, that, when business is
driving, the volume of the currency
ought to be greater than when business
is dull.
>. In it we also find the assertion.
that congress ought to keep u watchful
eye upon the business Of the country !;
when it is driving, make the volume of
the currency sufficient to supply all its
necessities I; aud, when it is dull, CON
tract the volume Of the currency, so as
- not have more currency in circula.
ton than business requires.
Bat how can congress exercise this
watchiul contracting and expanding
care, if the other declaration of the
platform is adhered to, that all the
800 bonas shall be paid in grecnbacks
81 100000, 600 greeubacks thrown
upon the country in addition to the
present volume of grecnbacks? Would
that not be expansion, without regard
to either the commercial or industrial
wants of the couutry?
We know it will be said, that the
$40 bonds would not all be paid in
one day or one year-that, when bust
moss required an increase of the vol.
umc Of currency, certain number of
the bond, might be paid and green
backs thus furnished to supply the de-
mand for more money. But if tho
holders Of 5,20s will not sell for green,