The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1875-07-22
THE OHIO DEMOCRACY
Meeting at Gallipolis Yes
terday.
Speech Of Hon, George b
Pendleton.

Allen, Hon. George II. Fendleton and
| others.
Mr.. Pendleton opened by stating that
il was thirty wears since he had
seen this city, and remarked that the
voyage was u difficult one. After touch
ing lightly upon the cause of his coming,
he branched out into political topics. lie
spoke of the meeting of the Republican
convention last year, and the claims on
its platform, but said that this year 1t
turns its voice to a different key and
only declared itself in favor Of our
public school system, and II separation OF
church and State. Upon these points he
said the Democrats could have no argu-
ment with the Republicans, and he quo
ted from the platform to show shat the
Democratic party would uphold the Con-
stitutiOn in this respect. lie interpreted
the platform to mean "Adhercnco to the
principles of government established by
our fathers; opposition to all encroach-
ments of one department upon another
or bv the federal power; upon the con-
stitutional rights OF the States equality
before the law of all citizens; one Presi-
Dental term; retrenchmcnt wherever
there is extravaganza; reform where
ever there is abuse; no subsidy
public lands for actual settlers; n
tariff Tor revenue only, and equal and
exact Justice to all religions; free secular
education in public schools, in opposition
to Supmtuary laws; to interference with
social habits not criminal; to malignant
espionage, and on the financial questions;
Cessation OF contraction, sound and
sufficient currency; the promotion of in
dustrcs the surest road to the apprccia-
tion of paper to par with gold; green
backs instead OF National bank notes;
grecnbackS for customs to the extent that
the necessities of the government will
permit This platform, he claimed had
been misrepresented. 1t called for
4 Currency Equal TO the Wants OF
Trade,
and thut he claimed, WAS a httIng meas
ureS for the volume of currency; every
issue OF government paper, whether legal
tender or not; every restricted banklrg
system has been AN effort 10 make and
keep u currency equal, according to the
judgement of the government to the
wants OF the trade. So with every
tree banking system. The Demo.
Gratis do not favor dcpreciated
currency. He thought he interpreted the
opinion of the PARTY and platform when
he declared they were in favor, as the
bvsis OF curI ency, that all paper currency
should be convertible into coin mt par;
that the party desire Il return to specie
payment, H. speedily II, the interests of
Iuuor and business will permit; that we
would be glad to return Immediately if |
honor, good faith and justice would pei
NIT and it were possible. The
Democratic party i no. now
and never have been in favor OF rrpuii- |
alton in any form. We do believe that
it Is our highest duty to fulfill all our
country's obligations according to the
spirit and letter of our contracts. We ,
are not now, and never have been, in /.
favor of Il volume ofcurrcncy, changing |
and ilUctuuting according to the whimS |
OF parties or the interests of bankers or |
the demands of reckless spccula- |
tors, but sufficient tor the !
easy, active, economical and profitable
interchange Of commodities, and a. |
fixed and stable us the nature of the case
will allow, and so long as we must have |
IL government paper currency, we prefer .
green backs, which are sound and cheap |
and good, TO national bank notes, which .
at the out.et cost the people six per cent, .
and are at the last only redeeInable i'll ,
green backs. lie confessed that there |
were defects and dangers in this coin |
basis system; that the supcrstructure OF .
paper WAS larger then the foundation OF ,
coin, and that, as the superstructure grows /
higher, it grows wider and larger, but
he would not discuss to-day, the merits |
of various kinds of currency. The pre-
sent necessities demand relief that should !
be promptly furnished. He repeated that
he WAS II hard money man, that return
to specie payments should be kept
steadily in view in legislation and action
and that wise statesmanship will seek the .
means Of rcconciling such return with |
the true interest of labor and business .
and Justice to the debtor.
Resumption Ca"not be Forced.
1t mus. be the proper outgrowth of sur .
rounding healthy conditions or 1t will be
neither beneficial nor permanent. When
in Congress he voted against the legal
tender act, believing the law uncou,titu-
tional and the policy unwise; as the
policy became interviewer with
our system of finance and
trade, he would seek all the good he
could find in it. He would not abandon
specie payments but he would not rush
witlessl y back to specie payments, over
the prostration of ali business and the
ruin Of the debtor. The Democrats cs-
and the Government in 1861,
paid nothing but gold aud
silver; Republican Congress passed
the bond act, the legal tender act and the
National bank act, and the gold and sill
yer ceased to circulate, and in 1860 the
various issues of paper money had
reached an enormous sum. Then COM
mcnced the Republican system o. finance.
Contract the currency, and if necessary
to this end increase the in
terest paying debt, and contraction
has been steadily going on. With the
decrease in currency has been decline
In the prosperity ana happiness OF tue
country, until now We are confronted
with condition of affairs which all feel
too kccny, 10 make description
necessary. To-day there is more
property for sale on executions
bv the sheritfs of Ohio than ever before.
Gold and paper stand to-day at differ
ence of fodrteen per cent. \ year ago
the difference was ten per cent The Re-
publicans claim contraction as IA remedy
for these things, and Congress has
passed a law declaring that resumption
shall take place in January, 1879,
and the treasury is preparing for this by
buying gold and silver. Every dollar of
gold purchased with bonds for the re-
demption OF greenbacks, adds to the an
nual interest. Ii is the old story Of fund
ing 1ebt which pays no interest, in
bonds, which pay large interest.