The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-11-04

THE TRUE FINANCIAL ISSUE,
HON. GEORGE III, PENDLETON ON
The CURRENCY QUESTION
THE CROWNING GLORY OF
TRIUMPH LEFT FOR
PENNSYL KANLA. ..s
CINc1NNATr, Oct. 22, 1875,

CINCINNATI, OCt. ~, 1870. ,
Hon. H. B. Wright Chairman Democratic State
Committee, Philadelphia;
My DEAR SIR regret extremely that
twill beimpossible for me to visit Penn
sylVania next week and take partin the
pending canvass. The reasons which l
have heretofore explained to you, as
likely to prevent, are of purely per-
sonal and domestic. character, but are as
you know imperative.
rsI take the liveliest interest,in your
struggle. Its resuts.seems to me to in
yolve, in addition to all questions of To-
cal policyr-all questions of reform in
the Federal Administration, both as to
the civil service and as to the Southern
States, the prosperity or ruin of the in
dustries of the country in the immedi-
ate future, andthe possibility of return
ing to specie payments in a healthful
and beneficial manner during this gene
ration The last year of Republican
legislation, the law for the distribution
Of the currency, and the law for the re-
sumption Of specie payments in 1879.
have put gold from ITO to liz. The
failures during the first six months Of
1875 were 1877 in number more than in
any whole year prior to 1873 and nearly
as many as in the year 1874 Twelve fail
ures are reported in the Times this after
noon) The depression Of all the indus
tries of our country has increased and
the consequent suffering of the laboring
classes is greater than ever. Never
have 80 many honest men gone without
bread or eaten the bitter bread of charity
or credit" "-'--'s--
The powers conided to the Secretary
of the Treasury to enable him to bring
about the redemption in silver of frac-
iional currency, are quite as ample and
very much the same as those conferred
to enable him to bring about the redemp-
ton in gold of the legal tender-notes.
Those fractional notes are about forty
millionsgof dollars. The legal tenders
are about three hundred and seventy
millions. The telegraph this morning
from Washington tells us that all the
officers of the Treasury in their forth
coming reports will treat the proposed
redemption of fractional currency as inn
practicable. And yet these Republicans
assert that they can successfully and
amidst prosperity execute the law for the
redemption Of the legal tenders in 1879,
and pretending they are the advocates
of sound currency, assert most falsely.
that Democrats, because they will not
applaud this system, are " for dishonest
money" limitation " aud d"repudiation."
Shame upon such hypocrisy The
success of the Democratic party, will re-
suit in a currency, stable in amount,
fixed in value, regulated in volume
neither by arbitrary laws, nor the ca
prices or even judgments of Congress
men or bankers, but by those laws which
commerce imposes upon all its instru-
mentalites, and ultimately convertible
into coin, and the knowledge that this
result will follow, will, in the meantime
restore confidence, revive business, and
put into healthful motion the now dor
mant energies and activities Of our
people. Jra
The loss of Ohio has neither destroyed
our cause nor abated our energies. De-
feated by majority of 5000 in a poll of
100000, we have won more votos than
any successful party in Ohio ever had
before; weighed with heavy burthens
and opposed by an organization almost
perfect in its discipline; abundantly sup
piled with money, and struggling for its
life. The cause of the people has won a
victory, even in defeat. The Republi-
cans have the offices and the salaries,
but it has been shown that even in Ohio
Republican 0hio---in order to secure
them by the smallest majority, they
we're obliged to bring " every man and
every dollar" into the field. Freed from
these burthens, resting on its own in
.trinsic merits alone, the cause of the
people would have won its victory,
offices, salaries and all, by twenty thou
sand majority, l rejoice to believe that
the Democrats of Pennsylvania are more
fortunate than we, and this crowning
glory is reserved as the reward of their
fidelity.
Iregret beyond expression that l can
not aid them in the struggle, and be
present at its triumphant close.
am, very respectfully,
GEO. HI. PENDLEToN.