The Republican journal. [volume] (Belfast, Me.) 1829-current, 1875-09-30


Question, and noting the strong arguments
which it drew from history and experience
against any attempts at resumption, that the
position of the democratic party had been final
~ taken, and that the party in this State had
seen new light since their State Convention.
when they reanrmcd, with great emphasis
the old hard money doctrine of the party. The
journal begin. by condemnng the project Of
iHlH9cdi0te resumption, and ends without adj
N0calng resumption at all, while it condemns
the republican policy of resumption rs far off
n 10. and draws Il pathetic picture Of the
Woes suffered by the people of England during
the process of returning 10 specie basis after
ii hal been away from it period twice as long
rs we have. In vain will its hard money dem
ocratc readers look through the article for any
encouragement that their cars will ever again
be delighted with the ring # Il silver dollar.
Progressive Age.
We do not argue against any attempts
warranted by anything we have said. We
believe fully in u currency based on specie
and roAccmablc on demand in coin, and
we desire such q currency as soon as it
can be had without too great Il cost.
What should be deprecated and avoided
is Il rash and unWisc contraction of the
currency ut time when the country is
unprcparcd tor it. That disaster and ruin
would follow such action is certain. There
is no safer and surcr guide than expert
ence. We cndeavored to show that Eng
land, rich and prosperous as She is, could
not suddenly contract her currency and
resume specie payments, after a much
longer period Of suspension than we have
experienced. except at a fearful price.
The picture was not oyerdraWn. Turn
to the history Of English resumption in
-lppleton's Cyclopedia, and the story of
business suffering Will there be found
summarized in these words -s'This was
not, however, accomplished without be-
ne highly disastrous to many OF the most
important interests OF the country" Those
few words are important for the people
of the 'nted States to consider. We say
THE rEOpLE-not the bankers, the bro
kcrs, the lawyers, and those who profit
by financial disturbances-bu the people.
~ whose hands thn whole matter Iioo, and
who will not allow themselves to be ca
oled The money interest OF the country
enriched itself through imitation and sus-
pension Of specie payments, and the peo-
pie will be themselves to blame if they
permit the same class to profit by a sud
den reversal Of the machinery OF finance.
The irredeemable greenback is not a
child llthered by the Democratic party.
They opposed its unlimited issue, oppos
cd suspension of specie payments, and the
making Of paper legal tender. When MI
Justice Clifford drew the opinion that the
act making paper legal tender was illegal,
and the majority of the Supreme Court
concurred with him, it was regarded as q
triumph of Democratic principles. The
Democratic mind did not comprehend the
Justice OF the law which compelled the
citizen to take greenbacks in payment OF
his private debts, and refused them at the
Custom House in payment Of duties-that
is, standard gold for the government, and
deprecated paper for the people. When
a Republican Congress re-organizcd the
Supreme Court and Il Republican Presi-
dent appointed new judges to reverse the
legal tender decision, and who did reverse
it, the Democrats recognized in the act q
partisan trick that made football of the
highest tribunal OF the country, and was
di@credltable to the government What
ever new cheat the party Of the admins
tration may be contriyin@, the Democracy
DO not mean TO be its subservicnt tools.
though it cry out never so Justify for re-
sumption and specie
Resumption is word easily spoken,
but it means good deal. 1t is one thing
to resume specie payment, and another
to maintain il. The latter is by far the
more important. Only by the most care
Iul and Intelligent promotion of the bust
ness interests of the country can this be
done The immense amount of bonds
held abroad is constant drain upon the
specie OF the country to care for, which
,.oa ,,a ,.o.4 r,,at;,.ouoa. ~ 49,
n,;nos auI ;n1ns,rios e t,n ao,,,tn,, sro
.,..:, $1,000. C..:
ness, check on the productiveness Of the
oo,,,4r,. !, ~ oonsdl,,onooe e = ,,;ato1,o
~ tho' o1,,,;,,;st.at;ar ,,,or oroato . a1aa,au
ra, s,snons;on oo,in ,nd orr las+ oond;
49,. .,'a7 +,,o n.e. nan,:.,
n,;-a,>,>mo,,rr.;a,, -,.;4,o,,4 fa,,.1,t;o~ 49,,
,ra.o.l;,, -. p,..:-,.
ao-oo,,1,, 49,,
or p..l- 80 I,..15
c;nao 1S,, ~, ,,n.7,. ,,aa ,oo,, oa,,,., a.,
once on the verge Of suspension of payments,