The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1875-02-27
The Political situation.

NitAtt ~ tnc NcPuultAh party, nufned II
IN is infancy, and is likely, We think, 10
stand BY is grave, His views, however
regarded by Democrats, are entitled 10 re-
speetfol consideration BY al Republicans
who are not blind aud unreasonins follow
Crs o. party leaders. let them go whither-
soever they viii. In the outset Mr. Weed
charges the Administration with failure
80 do much that might have been done
tcsmillgaie aud relieve the peryading e.
naucIal commercial. manufacturing and-
mechsgieaI arrangement and distress.
These causes, he thinks, were quite sufi-
cieni i'i6r our last falls disastrous defeat
q II might also, be continues, sin doing
some things and emitting 70 do Others,
have Gained rather than sxasperated pop
ular feeling The Administration was Sc
fiously weakened and wounded by the
Congressional back pay grab, by Treasury
Department imbeeilities, by Sanborn con-
tracts, and Washington city government
frauds. Still another damaging element
entered into the canvass Of 1874. Ircfer
70 Il reluctantly, and only because if We
earnestly intend to recover our lost aseen-
dancy we must clearly understand the
causes Of our defeat aWhen the press
began 10 agitate about 'sthird term"
few, Il any, supposed that such an idea
was entertained As the elections APP
preached, Republicans grew apprehensive
and anxious. Republican members Of
Congress not only wrote to but visited
Washington in the hope Of being author
ized to eontradict the accusation. But no
word was spoken, no sign given, BY the
only person who could by the utterance Of
single sentence have disarmed his oppo-
nents and treasured his friends" The
letter thnsalludesto the example Of Wash
ington who refused third term
There has not been day or an hour since
General Washiuglon's enlightened and patri-
otto views, enforced and fortified by the strong,
clear, and conclusive arguments Of General
Hamilton, we're submitted to the people, that
any President, however wise, useful and pop
ular may have been his Administration, could
have secured or approached an election for
third term Nor was il ever alleged that
jefferson, Madison, Monroe or jackson (who
served two terms) either permitted their
friends 10 entertain such an idea, or deluded
themselves with such an aspiration. II there
be anything nnalterably fixed and determined
in the American mind and HEARTH there be
any one principle 10 which our people have
anchored, il Is the third term example Of
Washington. And am devotedly thankful
that there is SO much left Of the teachings Of
our political fathers to which their descend
ants cling. These things both explain and
excuse the feeling which found expression
through the ballotbox against the Admins
tration.
Mr., Weed thus gives his views on the
subject Of specie payments:
Ibelieye the resumption Of specie payment
entirely practicable within reasonable time,
and without serious injury to the Industries Of
the country. II is not so much that specie is
required for general use or circulation as that
the people should be assured that specie can
be obtained when it il actually needed. A
general determination to resume would 20
more than half way toward its accomplish
ment. There is more sense and truth in the
remark that 'the way toresume is 20 resume
than at first meets the eye. 0urreal and only
serious difficulty relates 10 our foreign credi-
tors, the holders Of our bonds, and those from I
whom we purchase Injuries There are |
modes, however, Of dealing with both Of those
questions Let Congress, for instance, pass 1
a law imposing duties on silks, velvets, jewel
~, wines, &C.. limited in its operations 10 two /
years; that would virtually prohibit during
that period their importation, and resumption
follows without an effort. The home obsta,
Giles TO resumption are largely artificial, pro-
duced by the few who profit at the expense Of h
the many. usurers and spectators are in.
terested in keeping up the srate Of usancen
on gold.
The New York Gold Exchange Board Is
the heaviest drag in the way Of resumption
IL the transactions Of that Board were bona
5itis, If that Board went ne further than to
purchase and sell the gold required to pay
duties and buy exchange, no objections would
be heard. But whatever may be the theory
on which the Board isbased, its practice is in
conflict with il. The real, every. day business
Of the Board is speculative. Gentlemen meet
there TO make bets upon the fuciuating price
ofimaginatiye gold, the intrinsic value OF which
does not, IN the Eam0test degree, enter into
The transaction, And yet, unfortunately, the
standard value Of gold is assumed and gov
erned throughout the country by the quoted
prices in the New York Gold Board. while
the millions Of sales reported would, ii scru-
tinted, dwindle down to thousands
Then comes the gold sent to Europe for
Injuries. The evidences OF inflammation are
Haunted before our eyes upon the Fifth Ave
nue.. 81 balls, receptions, operas, and wher-
ever else fashionable ladies most do congre-
gate" Tbere ere 10000 New York ladies
whose costumes, when in fni dress, cost at
least $1,000 each. Fifteen years ago the
same number Of fashionable ladies' would have
adorned quite as attractiyey Of an
average expense Of $3.50. Ten thousand
children under ten years Of age are now
and Enthusiastically arrayed at an
expense of from 500 to sib0 each, while the
children Of wealthy citizens, fifteen years ago,
W1re simply but appropriately aftired at an
sxpense Of $50 10 $25, And II is painful to
reflect that in consequence of this lavish cx-
pcnditure upon class that never earnod
dollar, u4ere are othef tens Of thousands With
out employment and suffering for fuel, food
aud raiment. And last, though not least, are
Inc UIl<fDu9 81 fpi1 SUNK ut Americans VINO
idle away both their time aud their money In
Europe Ireland i not nov the only country
6em8rolized b. absenieeism. These great (
aIIuzes md fnlIez reformed, nothing would
BE- easier than resumption d specie payments.
Nor does resumption ia any eese peeassarily T
involve onerous contraction.
W. have strongly protected and uniform
sa<i0oal1zoj currency. For al domestic uses
fhaf eorrenes II jost IS good as gold and Sill
ser. II Is even better than the debased me-
<AIIic currency Of Austria, And when the
fAtt shall have been established that this paper
can be converted into gold and silver, the
people TiII prefer the bank-notes. leaving tho
gold and silver 10 meet the foreign demnBd
The President struck chilling blow at re.
sumption BY advocating the prohibition Of al
notes under Eve dollars. Resumption. coup.
led With such q prohibition. would be indeh
piiel{ postponed, for the people would never
srusent 10 he depfifed Of ihe snail notes Of
'elsent speeie'paying banks
The bitter then refers % the former
prosperity o. the country, when the canvas
4 onr own welI-Iadon ships whisened every