The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1875-08-14
THE OHIO CANVASS.
Gen. Ewing on Our Ma
tiOnal Finances.
His Great Speech at IrOntOn,
on Saturday.
What the Policy of Contraction Has
Already Brought About.
And Ia Yet to Be Expected
From 1t.
General Cary on Republican Big
Otry.

IRoNToN, O.. July "a To-day has been
held-day for the Democracy Of Lawrence
county. The Convention for the nomina-
ton of candidates for the county offices,
which met in the morning at Marion, was
the largest and most enthusiastic one ever
held ia the county, and the meeting in
this city tonight, at which General Ew-
ing and General Cary made addresses, was
another grand success. At the latter meet
ing, which took place in the Courthouse
yard, there were fully $500 people pres
ent, and, contrary to the usual custom
when such topics are discussed, the audi
ence, instead of growing tired and thin
ming out, grew larger as the evening wore
On, and listened with unhagging interest
until the last word. In addition to the
audience that turned out from the city and
the immediate neighborhoOd, there was
large delegation present from Catlettsburg,
Kentucky.
General Ewing was introduced by Col
onel Laban Moore, in a graceful little
speech, after which he spoke as follows
SPEECH OF GENERAL THOMAS EWING.
FELLOW CITIZENS | shall address you
to-day only on the money question. 1t is
not question of ordinary politics affect
ing indirectly and remotely the welfare of
the people. 1t is Of present and para
mount Importance, and concerns every one
who Is personally engaged in industrial
pursuits, or whose fortune is embarked in
them. 1t comes home to the business
and bosoms Of men,"
| know the subject is one almost every
body dislikes to study or discuss But i
do not offer you an abstract disquisition
on the nature and offices of money, on
which political philosophers differ and con
fute, as did the schoolmen Of the Middle
Ages oD titles and quiddities. ! ask only
to taSe the lamp Of your own recent ex-
perience a. a people, and by it direct your
steps.
All eyes are on Ohio The wonder seems
to be that the Democracy have dared to
take issue with the finance policy of the
Republican party-a policy Of ruin to the
many and ACKNOWLEDGEMENT to the few. The
money power which dictates that policy as
sumes to control both the great parties.
1t is a mighty power-the dread legacy of
the war-which gathers from all parties to
the support Of its schemes, men Of largest
control IN business, politics and literature
the Sl Oracles of public opinion. 1t
has heretofore ruled our National finances
almost without dispute through its instru-
ment, the Republican party. Its measures
are exactly those through which its pruto-
type the money-class of England, fastened
Oh the masses Of her people burden Of
perpetual debt which they can barely carry
nd hau &a1
here to bear precisely the same fruit 1t
is a power which brooks no determined op
position from King or people. The howl
Of rage and torrent Of deiunciatiOn from
its organs which now greet our ears, bring
us the welcome intelligence that the arrow
from our Ohio Convention hit the clout.
THE ISSUE ON THE MONEY QUESTION STATED.
The issue between the Ohio Democracy
and the Republican party on this question
may be succinctly stated thus
The Republicans say the moneyed class
shall determine the proper volume Of the
currency the Democracy say the people
shall determine it,
They say the business Of the people shall
conform to such quantity of currency as
the banks can keep ahoat redeemable in
gold ; tce say the volume of currency shall
conform to the wants of business.
They say the peoples money shall be is-
sued by pet corporations we say it shall
be issued by the Republic.
They say the people shall pay interest on
the whole currency to the banks we say
the whole currency shall be part Of the
debt bearing no interest.
They say the interest-bearing debt shall
be increased over four hundred millions to
buy up and destroy the greenbacks and
fractional currency we say 1t shall be re-
duced over three hundred millions by sub
stituting greenbscks for National Bank
notes.
The verdict OF the people of Ohio on
these issues, rendered after full discussion,
will, | believe, be ratified by the judgment
Of the American people. | have no fear
of the result. If it be shown that the
policy Of the Democracy involves repudia-
ton or wild scheme of imposture, the
intelligent and conservative masses of our
State will condemn it without instructions
from Wall street. But if it shall appear
to be consistent with National honor, and
demanded by the interests Of the people,
the truculent billrngsgate with which 1t
has been assailed will only emphasize the
popular verdict in its favor.
THE RESUMPTION LAW PRESENTS THE ISSUE.
The whole issue of this question is in
yolved in the act Of January 14th, 1875,
entitled San act to provide for the re-
sumption of specie payments" 1t is in
substance as follows
1. That the forty-eight millions of dol
lars of fractional currency then outstand-
ing shall, as rapidly as practicable, be
redeemed with silver and destroyed.
2. That the National Banks, now or
hereafter established, may increase their
currency, without limit of aggregate
amount, by deposit Of United States bonds
as security, under existing laws.
8. As each 800 of new bank money ID
issued, $50 of greenbacks shall be re.
deemed and tOitsheId from circulation, un.
til the three hundred and eighty-two mil.
lions Of dollars Of greenbacks, then out
standing, be reduced to three hundred
millions.
4. On and after the LIST Of January
1879. all the remaining greenbscks shal
be redeemed on demand in coin and
once redeemed, shall not be re-iss,ted
8. The Secretary of the Treasury is re
quired to provide the coin for these re
demptlons, and authorized to sell FIVE pc
cent. gold bonds to buy the coin.
THE RESUMPTION Law PARTY MEASURE
This act is the climax Of the fnanc
policy of the Republican party since tn
war. That party must stand or fall by ii
| II wna renor1ad hv Senator Sherman from