New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-07-07
FROM TIE FEET OF JACKSON"

! some Democratic granddaddy as IN apollo
gist for the immoral slip made by tina
degenerate descendant. Ohio:
The writer of the communication which
We print in another column under the allow
), caption ('.The Ohio Democratic Platform J
" is . lifelong Democrat, from the feet o
Jackson. and cherishes all our party tradi
tions. He believes the Ohio Democrats ar.
8 sincere, and he gives the best excuse tha
could be rendered for their initiation resolu
tons as presented in their State platform.
8 This lifelong Democrat from the fee,
Of Jackson" undertakes, with the Jesuistry
/ Of the party, to reconcile the'branches 0.
Democracy which have taken such oppo.
| site positions as California and Ohio.
The history of the confic: between
those who wished national currency and
those who demanded return to hard
money, and denied the right Of the States
to emit bills of credit. was as ample and as
uncompromising as the record could make
it. Jackson, surrounded by such men as
Benton, Calhoun. Allen, Blair. Kendall
and John c. Riyes. made open war upon
all who held the theory that a currency
based on credit was compatible with the
theory Of Democratic government. 1t
is well known tina. the concession of
making State bank depository of
the public money was hailed by Mr..
Clay as good halfway house. on the
way back to bank Of the United States.
Jackson reposes at the Hermitage.
This hard money hero, with Benton.
Calhoun and Clay. have been cut in
! stone and cast in iron, and SO can never
depart from the attitudes assigned them
| by the sculptor and foundryman. Gen
eral Jackson sat quietly ON his rearing
horse when the bullets of faction strong
to overthrow the authority Of a State
were flying around him. Henry Clay
was even compelled to witness from Lis
pedestal IAN anti-compromise" meeting
held at his feet in contumacious con.
tempt of the great principle of Union
and harmony which he had been set. up
there to illustrate. So these fathers of |
Democratic finance to whom we first |
made reference are cribbed, cofined and |
confined. and now thei- obseGuious fol- |
lowers boldly announce tina: their !
doctrines were !ime.serving and |
temporary. and may be pursued in
one place, or postponed in another. as
may suit local ambition or interests. But |
this barefoot friar Of Democracy. who sat
o: the feet Of the Democratic Gamaliel,
what Of him and his anonymous Democ-
racy? He undertakes to show that the
financial policy Of the government is no:
a principle OF administration. VIVA. then
becomes Of the renown Of Jackson OF the
services Of Benton? No. principle of
government? Then what meant the phrase
hard money Democracy: The thing was
this: Democracy meant the government
Of the people. by the people. for the
people. Was it for the interes: of the
people that the rag barons of the banks
should manufacture currency not
based upon specie: The adventitious
value thus given to the lampblack and
paper resulted to the benefit Of the rich
who made their credit. and against the
poor whose labor alone created values and
imported specie. It is thus that the basis
If circulation and revenue payment be-
comes principle Of Democracy and Re-
and j; is thus that no
Il IN, mi ctro{;or oo, Ia @r,,a ~ 49, 49, |
rines of either. which departs from the
basis Of specie value. unless under such
circumstances Of public necessity as have
the substitution of a paper
promise for solid dollar. in every great
truggle of a people to secure or to sustain
he form Of government which they pro.
essed. Nor can any administration be
rue to the rights of labor which does not !
eturn, at the earliest possible period, to
he redemption Of public promises in the
receious metals. There is a great prin- !
iple Of public trust involved in this ques- \
ion, but it is question Of utility to per.
orm this trust at the earliest possible
eliod. Both parties seem agreed about il
ne duty Of currency redemption. A por. ,
on of the Democracy, however, thinks it 8
ill be better for the people to have an adj
itional issue of this currency. The Re- q
ublican administration entertains diff
rent opinion and believes further in y
alton a mischief. The anonymous
[achiavel. however, does not seem to
gard the question of money basis
rinciple, but advances the theory that c
lie Western section wants a larger volume :,
paper money. while the Eastern section O
refers such reduction Of quantity as
ould bring it nearer to specie value. !,
nder this theory the West and South, d
cling debtors, wish deprecated cur ';
.ncy which may be bought with their {,
oecie exports of corn and cotton, while n
le East, having ssld them goods or lent t.
lem money. wishes to be repaid with t,
lrrency as near par as possible. Here is y
lie text which jus.ifes our paraphrase: b
And it may turn out on due consideration D.
the subject that the antagonism of the y
70 sections is produced by antagonism of -,
terest-as that existing between debtor N
i'd creditor-and not q difference upon ca
'inciple at all. And it NAV further appear o.
at the interests of the West and South | iC
e identical upon this question. II
We have next an admission which would lie
I'VE startled Calhoun and provoked pro. 2
nifty from Old Bullion or Old Hickory. In