National Republican., 1875-09-11

backs and grand speculations, vast fortunes
made in night and an era Of Democratic
peace and plenty without labor and with
out care. The Democrats Of Pennsylvania
have fully joined hands with those of
Ohio on the "mors money" question, and
are making desperate attempt 70 convince
them that the revulsion Of 1887 cannot
now be repeated. Some of the older poll
ticians will remember with much keenness
the days Of the 'Red-dog" and "River-
Raisin" currency, when all were so rich
that they could hardly look at trade Of
lees than thousand dollars, and did not
think that they were doing anything at all
unlss they bought and pld q town-lot'
or farm on two beors brAkfast. How
nearly all the farms in Ohio changed hands
from once to dozsn times ne last year OF
the imitation, and their acres were literally
covered with the mortgages which were de-
signed to secure the deferred payments, is
within the rscollsctin Of many man
who will hesitate long before he casts his
vote for recurrence --of those days. II
took many years and q general bankrupt
law to clear up those titles The
cash payments were all lost and
the original mortgage usually
recovered possession Of his farm, after
few years Of litigation, in much worse
condition than il was when he sold il at the
imitation price, which, he knew, could
never BE- paid for il by the products Of the
soil The old ones Who were burned b.
fsrs will not sntss upon the crusade, ex-
capt. like Allen, Thurman, Psndleton and
Carey. they do il simply and coafnssdly
for political effect. The honest old hrmsfs,
who rscolleet the high prices Of '36 and
the low onss Of 's9-'40 will net b caught
e1il in the same trap. But new gsnera-
toA has made its appearance which only
knows 1887 through history and tradition.
These are channels BY which We never
learn anything practical. We say those
old noodles of hthers or grandfathsrs Of
ours might have bssn caught that way, but
these times are different. We are too sharp
to be caught by any make believe money.
There is no "Red Dog" or "River Raisin"
about our gresnbacks. Those were real
shams, and everybody should have known
it; but these greenbacks are promises OF
all the people of the country. Ahl So
was the Continental script, so was the
French sssignats, but the quantity swamped
the whole people. And now the Demo-
Gratis Of Ohio and Pennsylvania want ''all
the people" to issue just as many green
backs as the wants of trade" may demand,
and experience shows that an unhealthy
trade will soon demand more than we can
ever pay.
As General Woodford' well and truly
says, every greenback dollar is promise Of
the people to pay the bearer thereof some
day one dollar, and that promise is by law
declared to be legal tender for all private
debts. Now what is dollar by our lawsf
II is one hundred cents in copper, gold or
silver coins. Congress never pretended
that the greenback was money, but simply
premise to pay coin at some period more
convenient than the present Is this nation
in o condition to put forth 80. many of its
promises fundable in 365 bonds that 3.65
bond would become preferable to the rep
resentative Of a gold dollarf Greenbscks
should be worth as much as gold because
they are issued in place Of gold, but as
there is no redeeming clause attached to
their issue We see that they have depre-
ciated fourteen per cent. But at this rate
Of depreciation business men will pay from
seven to ten per cent. interest for the use
Of them. Now how many of them must
the people issue before they become so
cheap that 3.65 convertible currency and
currency bearing bond shall be more de-
sirable than the grsenback promise as an
Garner of INTEREST,"
What would the spirits Of Tom Ewing
and Tom Corwin and old DR.. Duncan say
If they were able to listen to the Demo-
cratic O speeches of Governor Allen, SEN
stor Thurman, young Tom Ewing and
many others who were trained up in the
jackson -Bentonian bullion ideas Of Demo
cratic currencyf They would not believe
they were in Ohio. or they would swear
that some evil spirits had left some political
swine herd and entered into these pupils Of
deceased ard-money Democrats.
Senators Thurman and Bsyard, with all
their Democratic colleagues, have voted
several times in the Senate for the sbroga-
ton Of the ten per cent. tax upon the circu-
lation Of State banks, so as to allow the
country TO be flooded with the circulating
notes Of irresponsible institutions, But
while they have done this they have also
affected to favor o speedy return to specie
payments. Coupling these votes with their
present position on the currency question,
the Inevitable conclusion is forced upon US
that they have all along been infiationists
at heart. We shall now look with much
interest to see Senator Bayard riding the
two-horse act In Ohio and Pennsylvania.
As an aspirant for Presidential honors he
can hardly refuse to go and assist in carry
ing the Keystone and Buckeye States over
to the Democracy. There will be hot work
from now till election day in those political
fields, and we are anxious to see how old
stumpsrs will adapt themselves to the new
arguments and theories Of the party. II
will take Bayard and Salisbury some time
to lay out and agree upon safe line Of ar
gument. Eaton, OF Connecticut, too, will
have q hard road to travel in keeping
squsIely on these new platforms. The
school question in Ohio will trouble them
quite as much as that Of the currency.
In short review Of the platforms Of
the Democrats in Ohio and Pennsylvania
should confirm all true Republicans in the
belief that the Democrats are simply q
party Of trading political frauds. The
honest, rejecting and intelligent Demo
Gratis themselves hang their heads with
shame at the manner In which their old
time-honored party principles have been
deserted by their modern leaders in their
desire for preferment and place. So far as
the effect upon the approaching elections
are concerned, we have no longer doubt
The Democrats in Pennsylvania could
hardly baYe pursued Q course better de-
ss.gned to insure their defeat. The wise,
experienced men have been thrust aside to
make room for the young and desperate
spesulsting politicians. Bigler, who was
always the strongest Democrat In the State