The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-09-23
Sehurz I'm Ohio.

Carl ScnuTZ enters upon the OElo canvass
to aid the Republican party. OF course
he must discuss the question of finances,
and from his ell.known principles it is
difficult to understand how he will be able
to defend the resumption act OF January.
1875. Mr.. Schurz was a member OF the SEN
ate when the resumption act was passed,
aud took very deep interest in the discus
sion. He again and again pressed home
upon Senator Sherman, who was the cham
pion of that movement, for a decision upon
the true merits and intention OF the
bill, which he failed to secure. Mr..
Sohurz was for resumption. He
would have been willing to vote
for retiring one-half or two-thirds OF the
greenbsck currency, regardless OF the con-
sequences to the country. The only road
that he saw 70 resumption OF specie pay
ment vas such definite and positive prep
sration that the gold should be in the treas
ury and ready to pay out on demand for every
greenback presented. His policy seems TO
have been to sell enough bonds for green
backs to retire the amount in circulation to
point when the gold in the country or gov
ernment treasury should render redemption
of the greenbacks possible. Mr.. Schurz
showed conclusively in his discussion of the
bill that there was no definite provision
in 1t that met the promise OF Its
title, and he predicted just what
has come to pass, with reference to the agi-
tstion and general distress that would fol-
low it's adoption, when there was nothing
definite to be accomplished by 1t, nc
certainty that it would fulfill its
aims. He argued that it would inn
pair general confidence, and that no ben
eft could result. He tried very hard
to get Its champion to say that contraction
was intended. or to show some other method
by which the object proposed might be rea-
sonably secured, and when he failed IN OBJ
tanning any satisfactory information as &c
the true effect Of the bill from its chief ad
vocate, he offered an amendment, that tht
greenbscks should be redeemed or retired
at the rate OF two millions per month, com
mencing at once. OF course he failed in
this, and he must be still
more convinced by the actual condition
of the financial situation to-day of the cor
RICHNESS of his views, that agitation would
follow the passage of the bill, and that the
party would make no capital by it.
How will Mr.. Schurz now 60 before The
people of Ohio and advocate the views SCI
forth by Mr.. Morton, who in his Ohio
speeches declared that the resumption ac
was not to be a contraction measure? In
the eyes of Mr.. Schurz all the virtue in the
bill was its contracting power. Without
contraction it would be Ineffective, snd
therefore the party would make no capita
by passing It. 1t would produce agitation
distress, a general want of confidence, snc
that would be all. Now Mr.. Schurz in Ohio
must meet the issue. He made It will
Sherman in the Senate, and IL is not likely
that he will go back on a record that dates
not further back than half year, and which
should be confirmed in his own mind 10y
the fulfillment of his own prophecy con
corning its tendency to produce suspicion
agitation and monetary distress.
In his discussions In Ohio, Mr.. Schuri
will be forced either to desert his position OF
come in direct contact with Mr.. Morton and
Others who claim that the policy of the Re-
publicans is not contraction. Mr.. Schurz
we are persuaded, saw in the bill just wha
the Democracy to-day declare, that the re-
sumption act, so hastily forced through con
gress under the gag rule, was intended
simply as measure that would enable thu
money interest, the fsw, to speculate ant
profit by the distress and ruin of the many
He is not man that is likely to act simply
| in the interest of the Republican
party, independent Of other consideration
and it Is didicult to see how his views car
dovetsil in with the Republican speeches o
the Ohio canvass, so that his labors there
shall do them any good. 1t is probable tina
he will ignore the resumption act altogethel
and simply battle agains. the reputed infa