The Portland daily press., 1874-06-20
FOR GOVERNOR, $780,
NELSON DINGLEY, Jr.
q A Few StraMS.

There is but one great question in politics
to-day on which public opinion is supposed
to be divided, and that is whether or not the
currency shall be inflated and whether or not
resumption shall be regarded as something to
be begun as speedily as possible. As there
has been no popular expression on this vital
question since the panic of last September,
and as large party in Congress declares that
the people in some sections of the country
are DESTROYS of further initiation of our
paper money, it is particularly matter of in
terest TO all classes to know just what posi-
ton political parties, land particularly the DOM
inant party, in the various states, are taking
on the financial question. f'.- -.''
During the week the Republicans of Maine,
Vermont, Indiana and Illinois have held
state conventions. Two of these states,
Maine and Vermont, have not been repre-
sented to have changed their opinions on the
currency question. The people of these
states are for hard money at the earli-
est possible day. The other pair
of states, however, Indiana and Hi
nois, are confidently asserted to be In
favor fan expansion Of the currency, and its
Congressman, at least some of them,,. cannot
see any difference between specie, the currency
of the world. and notes promising to pay, but
never attempting to pay, gold. Indeed, these
two states are the chief initiation states Of
the country. -'-a ''-- '.'''..'' ''' --''
In the two first states there was no hesita-
ton about the policy to be announced, or
rather reiterated for the voice of the conven-
lions in these states was so unanimous for early
resumption and against any expansion Of the
currency that no man, would have had the
hardihood to advocate the loose financial
theories held by the majority of Congress in
either Of these conventions. Indeed, the CON
ventions of Maine and Vermont plainly indi-
cate that the Eastern states will not be a bat
tie ground Of the currency question for the
the Republican party. '''' '--- "--.o
Making due allowance for exaggeration on
the part of Messrs. Morton of Indiana and
Logan of Illinois and their associates in Con-
gress, we were prepared to believe that large
majority of the people of the West were
in favor of decided initiation and an in
definite date for the resumption of
specie payments. The persistency with
which these men have fought the battles
Of vitiated currency has led to the
impression that they were impeed from po-
litical necessity to obey the voice of their re-
spective states. Consequently we expected
that Indiana, the most decided inffationist
state, would pronounce clearly for more cdr
rency. What is our surprise to find that the
resolutions on this subject, while squirting
in the direction of more paper money, are
strikingly indefinite, general and, in the
same breath, expressive of the fullest conf
dence in President Grant. ssial1ny tiu9 Oh ~
In Illinois the infationists, really met a de-
feat, as resolution was adopted declaring tor
a''return tospecie payment at the earliest
practicable day." A clause distinctly de-
claring for agradual retirement of the volume
OF the national currency as fast as national
bank notes are issued, was striker out after a.
long and exciting debate, but proposition was
endorsed fixing the amount of legal tenders
at $685., 100000 And this policy was adopt
ed by convention in which Gen. Logan was
using all his influence to produce direct is
sue with the President on his financial posi-
tions. 3.4,4.- aI .ait uafsR ier :. ill.,
To be sure the declarations of neither of
these states are like those of Maine and
Vermont, but the generalities in which the
Indiana convention serves up the currency
question, and the implied declaration of the
Illinois meeting against initiation, must be re-
garded as most suspicious indications. IF
these things are done in the two leading in
fation states, what may we not expect from
all the others? e ',I. .i.u..i4-.. ID asluyai'.a.