, 1875-09-29
KE. sCHUIsZ ON GOVERNMENT CURRENCY


We trust 10 ono hes failed 10 reas1 the
spccch of Mr.. ticAunz, delivered in Cincin-
na.i on Mols.lny night Inst aud published in
HE Tmnu,;E next morning. The rpsecl ha.s
nt1,iliu.,al force because delivered by Exam
O: intellectual power, who tiiscalns any per-
aonal inturcst in tho succoss Of either political
party, ind who discussed tho question Of tho
currency from tho standpoint Of ono inter-
csted III tho preservation Of truth and hon.
csty, aud in tho avoidance Of policy fraught
with countless disaster mud ruin. 11o spoke
in the interest Of tlls nation, and his speech
WIS IL special appeal to the Domocrntic
party with whom he Ind bnt recently ncted.
Tho Democratic, Of ill tho parties that lave
existed i'll this country, has been slecially
distinguished bccatlso OF its hostility to paper
money, mud tho United States has been
spared the calamity Of M irrodeeu,ablo Gov
er1lncut currency which hns ovcrtalien every
oti,er civilized Government tint ever at-
tempted it wholly becnuso Of the firmncs=
mud pcrsistency OF tho Democratic party. lis
leaders lave rendered tho financial policy Of
this country m eminent example to the world
by the ability with which, FROM JEFFERSON to
BUCHANAN, they l.al maintained MI absolute
separation Of tho Government from any
responsibility for my form OF cur.
reucY or my legal standard Of values
save tAat Of the coin Of tho country.
Another asil distinguishing feature Of lilo
policy Of tho Den.ocratiq party, successfully
maintained by that party since the founda-
ton Of tho Government, was tho strict linz
tuition OF tho Government to its legitimate
functions. JEs3IEsoN, MADISON, MoSaoE,
..pAs1s, JACKSON, VAN BunEa, TYLER, POLK,
n,,eous statesmen Of TINT party, rendered the
Governmental policy peculiar by insisting that
tho General Government Bhould abstain from
every interfercnca with tho business Of the
people, holding that this non.iaterforcnco
WIS all Indispensable safeguard Of popular
liberty nuu free institutions. hIr. Scuunz TO-
ierrcd to tl,ese pointa in tho general policy
Of tho Democratic party which had contrib
nted 10 much to tho prosperity and glory Of
the country, mud under Which tho people
rarely felt tha hand Of tho General Govern
nsunt. III contrast with tlls policy OF absolute
nou-interresunco with tho business and pt,r-
t,lits Of thu people. he quoted tho proposition
Ut tho Ohio Convention, that tho General
Government should assume tic function OF
| supplying tho country with paper currency I;
OF regulating the ualount thereof to DO eircu-
lated; Of increasing ita value by reducing its
volume, ind Of reducing It's valus by increas-
Ing its amount; Of fixing fictitious legal
standard by which tho value Of all property
might be Increased or reduced at the will Of
the party accidentally in power. rherocoul
bo no creator exercise Of despotisn, no oct OF
connscation or robbery more fragrant, thar
this investing tho Government with absolut.
power to enrich its frionsls aud to impoyeriuh
ts oppQncnt,,-to control tho wa4cs Of labor
land MI values Of property al the nero discre
tion of any gang Of corrupt aud unconsciou
Able acountlrols that might happen tc
be iu Office. Under sound Demo
cratic Government, with specie pay
n.euts tho amount Of coin In circulation
adapted itself to tho wants of trade tho Bnr
plus slowing elsewhere, and tho doholano.
being supplied from without Tho Govern
inont ases to it TINT tho coin ia 1t tho pro
Burlbed weight and tl,enesa, punisllos ooun.
terfcitlng segalasos tho banking System 81
AZ to reuder it Eafc, anl then lets the our1en
cy md trnle in all their relations to take cars
Of themselves. But tho Democratic purity il
OHIO propose that it do something moro
TINT it issua an irreleo1nablo currency til.
paper money, having no intrinsic value, doe.
not flow out when in excess, ~ IL tAo cas-,
with specie; anil tho Government is 10 l..
I authorized to Az FROM tirne to time th.
amount in circulation. Az tbs yaluo Of thl,
irredeemable paper decline. with Oh iuo.sas.
OF tho excess and increases with the reluo
ton OF its amount. tho power proposed to u
given the Government IL equivalent to til,
power to determine the money value OF sacl
mans property. No mau eau purchas
/ property without the danger Of having 1t
i money yalus reduced no man cRn laak
3 contract without having its vsluo subject t
q changes by the asbitrury action OF the Coy
J esumeut. Arnal with this authority, |. is i
. the arbitrary power Of the Government to II
i dsce men to bankruptcy and ruin at il
d pleasure.
4 We sabmit ibis point to tbs casetu 90,
y s!aasa.!oa d a!l thoaah1fM nlsa. pldx nsa.