Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1875-10-28
THE DEMOCRACY AND THE
CURRENCY.

III the imitation PLATFORM Of the Ohio
and Pennsylvania Democracy represent
the general democratic sentiment on the
finance question, this party can 10 longer
cherish the glories and venerate the vir.
tues Of the Jacksopian era. Departing
from tie traditions of the past, and the
teachings Of its great party lights, it en-.
folds its old creeds and principles in a
drspery Of death, and lays them away to
rot in a grave Of everlasting iorgetfulness.
1t has even been the beast Of Democracy
that it was an organization consecrated
and dedicated to a pure, sound, reliable
eurrency-a currency Of coin that could
not be affected by the fluctuations of other
values. The brightest splendors and most
hallowed memories Of the party cluster
and revolve around that pivotal point of
its history, when President Jackson over.
threw the old United States Bank and
repudlated a paper currency as the syn
cnym Of natural fraud, injustice and dis
honor. From that time on, through an
unbroken succession Of democratic admin.
istrations. eliminating 10 the infamies Of
Buehanrn's s%ervile, cowardly and treason>
sble presidency, hard money was the
rallying 'cry-the shibboleth of the party.
In the stress Of the war, there was not
suficiency of coin to carry on the ma.
ehinery ofsovernnent and support the vast
military operations adequate 60 meet the
forces Of the rebellion, and when the wis,
dom Of Mr.. Lincoln's Cabinet cut 1.-The
Gordian knot" and relieved the country
by q system Of finance that challenged the
admiration and confidence Of the world
tho Democratic lion shook with rage End
rOarsd with indignation. This peculiar
kind Of commercial obligations, the meas.
are of whose value was the faith and
wealth Of the nation "a reversion to the
majestic genius and statesmanship Of
Henry Clay-enkindled anew the fervol
of Democratic devotion to a currency thai
glitters in tho grasp and clinks in the
Golfer. The unscaled fountains of Dem,
ocratic wrath. from press and stump
poured out long and bitter curses on the
Republican system of worthless rays
and national lies" Th, gifted Yallau,
diglam. the great copperbead prince. de-
nounced the Legal Tender Act''as worthy
only Of the most shameless tyranny. sub.
verting the spirit and intent of public and
private contracts, mocking labor with q
worthless compensation, and arbitrarily
and despotically forcing upon the people
u currency chose only possible fate was
repudiatiOu." Such men as Pendleton
Ewing and Cary applaudcd the foamy
diatribes Of this brilliant chieftian to the
echo, and could only see the evils of a de-
preciatcd and luvtuating currency, where
now. with light from that great l~an,inary
of d~emagogueism. William Allen. they
profess to see 30 much beauty and pros
pcriy.
Whilst the OHIO Democrats are clamor
ing for greenbacks in quantities vergins
on Unlimited expansion, the Pennsylvania
Democracy comes boldly to the, font anf
demands that the volume Of currency h
made equal to the demands of trade /; oil
in other words, asserts that the %eircula'
ting medium is inadequate to carry on tba
business Of the country.
Ifa rag Platform represents the Dem
ocratic sentiment on the currency cues
ton. aud il this patty is successful in til,
Centeuuia! Presidential struggle, we ma,
hold ourselves in readiness Tor 8ush time
when greeubacks will Oe IS sbupdsnt S'
fcas 10 summer pi:.pcns.