The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-06-19
The Chic npmOcracy

AhO iuphdtiC lGSOluIiCu vi Gu0 O6IuOcTdLlc
convention of Ohio plainly indicates that
Pendletonsm is still the favorite doctrine of
Western Democracy. Without an ''if' the
convention took decided grounds in favor of
the expansion of the national currency.
The resolution does not even look to a re-
sumption of specie payment even in the re-
mote future The Democracy of Ohio de-
mand that the contraction of the currency
heretofore made by the Republican party and
the further contraction proposed by it, with a
view to forced resumption of specie pay
ments," be abandoned and that the printing
machines be set at work to so increase the
volume of the currency that ali may have
enough OF it to do business.
Such is the voice Of the Democracy
of the great central state Of Ohio, at
time when the vaults of the banks of
the larger cities are full of money lying
idle or being offered freely at rates of interest
varying from two to four per cent. on call,
with limited demand. Such is the demand
of the leaders of great party, having before
them the history of the disasters and financial
ruin which have come to nations that have
sought relief or prosperity in an expanded
paper currency. In the year of grace 1876
nominay ascendant party in great state
declares that dormant industry and business
can be restored to activity and prosperity by
the federal government issuing large num-
Der Of promissory notes, upon which it does
not pay interest, and calling the same money.
The Democracy of Ohio fail to recognize the
fact that the present condition of industry
and business is almost wholly due to the in
fiatec paper money of the country; or, if
they do recognize il, they expect to infuse
temporary energy into torpid business by
introducing an additional quantity of de-
preciated currency, which would possibly pro-
duce momentary activity, as would a dose
of whskey administered to man worn ont
by life of dissipation.
1t IS worthy of note that while the Demo-
cratic leaders of Ohio were declaring in favor
of currency quackery, the members of the
delphia, representing to large extent the
real business and producing interests of the
country, by vote of more than four to one,
adopted resolutions declaring thnt tho prcsont
is the best time to resume specie payments
by contracting the currency. Thus have the
Democratic politicians in Ohio, who profess
that they entertain the hope of shaping the
policy of the nation after March 4, 1877, put
themselves in direct opposition to the del:ber-
ate opinions of the representatives of the
business interests of the country. They do
not even heed the opinions of their own able
Senator Thurman, but turn away from him
to accept the hereses of Mr. Pendleton, thus
practically putting the former out of the list
of Presidential candidates.
The ruinous policy announced by the De-
mocracy of Ohio as their creed on this most
important of national questions, is marked
contrast with the declarations of the Repub-
licans of that state, who have squarely put
themselves on record in favor of the action of
the last session Of Congress, by which the
Republicans in both branches, with few
exceptions, declared in favor of contraction
of the currency and definite date for the
resumption of specie payments.