The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-07-23
OhiO-Speecn Of George FL Pen"ieton
In DeIence OF the Democratic Plat

OhiO-SDeeci, Of George FL Penuiet0n
In DeIence OF the Democratic Plat
form.
GALLroLIs, July 21.-At the Democratic
meeting here to-day speeches were made by
Governor Allen. George FL. Pendleton, and
others. MIR. PendlctUn said: The Repub-
licap Convention only declared itself in favor
Of our public school system and separation
of Church aud Stale. Upon these points, be
sail. the Democrats could have no argument
with the Republicans, and he quoted from
The platform 10 show that the Democratic
p.rtv w0u!d uphold the State constitution
IN this re, poet. He interpreted The platform
10 mean adherence TO the principles Of
government established by the fathers !;
onpo>ltiou to all encroachmentS Of QUE
department upon another, or Of the
Federal power upon the constitutional rights
of the ) .ates equility before the law Of all
citizens one presidential term; retrencb-
mrpt WHEREVER there Is extravaganza; re-.
form wherever there is abuse: no subsidies !;
public lands for actual settlers: q tariff for
revenue OILY; equal and exec, justice to all !;
reliricu free secular education in the pub.
tic schools: opposition to sumptuarv laws
and to interference with social habits not
criminal; no malignant espionage. And on
financial questions Cessation Of contrac-
ton: a sound and sufficient currency; pro
motion Of industries the surest road 10 The
appreciation Of paper to par Wild gold !;
prceubscks instead Of national bark notes !;
orecnhacks for customs to the extent that
the necessities of the Government will per-
nit
THIS rLATFO2A,
he claimed. bad been mi,reprcsented. II
called for currency equal to the wants Of
trade, and that. he claimed, wasa fl ting mea-
sure for the volume OF our currency. The
Dem ,crars do not favor "a depreciard cur
r:.ncy. He thought he interpreted the opln-
ion Of the party and The platform when he
declared they were in favor Of coin as the
basis Of currency; that paper currency
should be convertible into coin ut par; that
the party desire return To specie pay ments
a, speedily as the interest OF labor and busi-
ncss will permit: that we would be glld TO
return immediately il honor and good faith
and Justice would permit, and it were pos.
shie.
The Democratic party is not now and
never has been in favor OF reputation IN
any form. We do believe it is our highest
duty to fulfil all our Coun,ry's obligations
according 10 tue spirit and letter Of our pto-
mise. We are not now and never have been
In favor Of volume of currency, changing,
fuclu,ti according to the whims OF par
ties, or the interests OF bankers, or the de-
mands of reckless SPECTATORS; but sufficient
for the easy, active, economical and rrofita-
bic interchange OF moditieS, and rs fixed
and sabi.- rs the nature of the case will al
low; and 50 long Is we must have 4 Govern
ment paper currency we prefer greenbirks,
ri, md tN
natiOn4! bauk notes, which at the outset cost
the people six per cent, and are at last only
redtemahe 10 9recnDack-.
he confessed that there were defects and
dangers in this CONTRASTS system; that the SUI.
perSructure Of paper was larger than the
foundation Of coin, and that as the superSlruc-
,urc grows higher il grows wider and larger,
but he would not discuss to-day the merits
OF various kinds of currency.
THE PRESENT NECESSITIES
demand relief that should be promptly fur.
nisucd. He repeated that he was hard
money mai that Il return TO specie payments
should be- kept steadily in view in legislation
and action, and that wise stuteSmahship will
seek the means Of recOnciling such return
with the true interests OF labor and business
and justice 10 the debtor. Resumption cam
not ue forced.
1t must be the proper outgrowth of sur
rounding conditions, or it will be neither
beneficial nor permanent. When in Congress
be voted agains. the legal-tender act, believ.
Ing the law unconstitutional and the policy
uuwise. As the policy had become inter-
woven with our system OF finance and trade,
be would setk all the good be could find in
it. He would not abandon specie payments,
but he would not rush rutGleSSly back to
specie payments over tue prostration Of all
BUSINESS and the ruin of The debtor The
Democrats established the sub-Traasury sys.
tenn. and the Government in 1861 paid no.
thing but guild and silver. a Republican
Congress passed the bond act, the legal
tender act, and the nallOnal bank ac;.
Gold and silver ceased to circulate, and in
1865 the various issues of paper money had
reached an enormous sum. Then com.
menced the Republican system Of finance.
Contract the currency and, if necessary to this
end, Increase the interest.paying debt, and
con! traction has been steadily going on. With
the decrease ia the currency there has been
decline in the prosperity and happiness of
the country until now we are confronted
with condition Of affairs which al feel TOO
keeDly to mske description necessary. Con-
gress has passed law declaring that resump.
ton shall take place in january, 1879, and
the Treasury is preparing tor this BY buying
gold and silver.
EVERY DOLLAR OF GOLD
purchased with bonds for the redemption Of
green BACKS adds to the annual interest. 1t
is the, old story of funding u debt which
pays no interest. He showed by comparison
tnat The exports of flour. wheat, cotton,
. rroleum, MEATS, turpentinc. tallow, to-
bacco, auc timber had fallen eff $SS.000, 900
since lat year, and claimed that we nave
been burning the candle at both ends. Aban.