Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-03-13
THE GREENBACK CONVENTION.
Preamble and Declaration OF PrincE-
pieS-PsFfies Denounced and Pop
uIar EnGaEes PTeIeErsd-A
New Party ON q Cur
rency Basis.
A Mouetary System Based on the Faith
and Resources OF the Nation De.
maudsd as in Harmony with
the Genius Of Our Gov
srnmenI-Etcs

CLEVELAND, OHIO, March 12-The
Independent greenback convention re-
assembled at ten o'clock this morning.
A special committee OF five was ap-
pointed to report q plan for forming Q
national central committee. James
Buchanan, of the Indianapolis Sun,
from the committee on resolutions, re-
ported q preamble and declaration of
principles, which, after some discussion,
were adopted. The preamble recites
that our government is founded upon
and derives its power from the people.
The existing evils have resulted from
our representatives setting party
above the popular interests. These
evils are very plainly displayed N
our monetary system and the mOnOpO-
lies which it has engenGered, this sys-
TEN being mOnarchial in its principle
and subversive Of q republican govern
ment. To resist the encrOachments of
money power, to stay the tile Of cor
ruptiOn aud extravaganza, and to place
the control of the resources ard finances
of the country in the hands of the peO-
pie, il has become the duty to organize
an independent party, upon the follow
ing basis, IS no reliance can be placed
in existing parties:
First-It is the duty Of the govern
ment to establish q monetary system
based on the faith and resources of the
nation, in harmony with the genius Of
this government, and adapted to the in
dustrial and commercial needs of the
country. To this end, nOt-s of all na-
tiOnal and State banks should be with
drawn from circulation and paper money
issued by the government directly to the
people in payment Of government obli-
cations, without the Intervention of any
system of banking corporations, which
money shall be legal tender in pay
ment of all debts, public and private,
duties on imports included, except that
portion of interest and principal of the
present public debt that is by express
terms of the law creating it, made paya-
bic in metallic money, this money to be
interchangeable at the option of the
holder with registered government
bonds bearing rate of interest not eX-
ceeding IS per cent. per annum.
SacOnd-This system of finance will
by stimulating our industries and COM
nierce, soon make the United States
the depository of precious metals OF the
world.
Third-The adoption of this system,
by furnishing sufficient money at low
interest, will solve the question of cheap
transportation, because it will enable
railroads and the carrying trade to re-
leve themselves of their loads OF debt
and lower their rates, and enable the
people to construct additional lines
Whenever internal commerce may re-
quire.
FOurth--It is the duty Of the govern
ment, in all its legislation, TO keep in
view the full development OF the sgri-
cultural and mineral resources OF the
country and its manufacturing Interests.
Fiflh-The great interests Of protect
i've industry claim their just recognition
at the hands of the government Of the
people, and that through the monetary
system here proposed ali these interests
can be fully secured.
Sixth-As the public domain is the
rightful heritage of the people, it should
not be distributed to spectators or cor
poratiOns, but reserved for actual set
tiers.
Seventh-It is the duty of the govern
ment to equalize the bountjes OF soldiers
and to bring to speedy settlement all
the other just claims arising from the
late war.
Eighth-All the rights, privileges and
! immunities recognized by the govern
ment should be based upon the fact ot
/ citizenship, equal rights before the Law
| being secured by the constitution.
Ninth-We insist upon and demand
/ severe setrenchmentan and economy III al
/ branches Of public affair.
Tenth-Rivers and harOors, being IN