The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-08-26

4 Wls6s unSkllIul ana DISASTROUS aumlnlS-
tration of affairs is to be remedied.
|
The unfsirness with which the defender
of the present financial policy of the admin
istration discuss the currency question will
be apparent when it is considered that the
issue in its present shape is forced upon the
country. And the people must consider it
and look about for relief from the increas-
ing embarrassment of the present, and the
impending disaster that must necessarily
result from contraction, or a forced re-
sumption of specie payments. They would
make it appear that the Democratic
policy is wild scheme of
imitation, sprung as a political meas
ure upon the country at time of profound
commercial peace and prosperity. The OPP
posers of the administration are not the ag-
gressoIs in this contest. The issue is forced
upon the country. The government is bur-
dened by financial obligations, and a finsn-
cial system incurred and adopted by legis
lation, wise or unwise, during time of Ma
tional peril. The country has a currency ir-
redeemable in gold, fact clear to all. This
currency, on account of this irredeemable
feature, has wrought commercial inconven-
fence and distress at times. The vascillating
policy of the president and congress during
past years has rendered this difference be-
tween gold and currency the occasion
or means whereby gold gamblers and specu-
lators have been able to create panics, and
throw hecountry into feverish excitements,
and produce distrust of indi ,idual and even
national solvency. Notwithstanding these
evils the people have with patience been
able'to recognize the inevitable, and they
are willing for the present to bear it. But
because they are willing to bear it is no
reason why they shall silently acquiesce in
making the bur- en- greater, and they are
not aggressors, wild schemers reckless in
novstors, because they simply refuse their
assent to the multiplication of existing
evils. Look at it as we may, resumption
at fixed date, regardless of the resources
and inherent energies of the country, is
contraction, forced contraction. To contin-
ually reiterate the necessity of resumption,
and persistently urge it, is to create such dis
trust as to make the people believe that the
government is on the verge of bankruptcy.
which the people can be satisfied with the |
continued use of the greenback currency, |
and commercial confidence restored, is by |
the government plsnking down four hun |
dred millions of gold? The republicans sa |
by their course in the pending issue that |
this is the precise condition to which they |
have brought the country. The con-
dition is bad enough, financially gloomy |
enough, and the gloom is only relieved by |
the prospects of a speedy reformation in the |
management of the revenues of the govern |
ment under Democratic rule, but voice |
comes no from the people, saying that there
is no demand from them for setting a day |
when these United States notes shall be
formally protested, ss must inevitably fol-
low the carrying out, as the Republican
party propose, their resumption act of last
winter.
The course of the Administration party /
on this question is like that of
hard creditor in times of none
tary pressure, forcing, without mercy,
the debtor to the wall. Against this
impoIlcy and injustice to the commercial
interests of the whole country, the Demo
cratic party here and every where should
protest. Their representatives in Congress
against it when the Resumption
act was passed with singular unsnimity.
Unawed by corporate capital that expects to
profit by the ruin that this measure shadows
Iorth, the people resist it. This resistance is
tortured into reckless imitation by the up '
1olders of the measure and this unfair deal
Dg frightens many timid, but otherwise
sensible men, to believing the honest cry of
,he people against this injustice is the fore {
,oken of some terrible communistic repudis-
ion and revolution. Sensible men
will not be long frightened. Every day I
the wisdom of repeating the resumption act
Is being more generally apprehended by the
people. The Republican party will soon
find that this effort to divert attention from
their record of Observation-Disclosures will not
succeed. They force the question upon the
people and they will decide it.
Nor will this decision in any way obscure
in the public mind proper appreciation of
the value and necessity of gold and
silver currency, that should be steadily
kept in view, when the repro
ductive energies of the country and a better
of its revenues under less
expensive and less extravagant ruls shall
render it possible for the normal condition
of things to be brought about. We can not
hope that THIS will come to pass under the
OF the party that has brought
troubles upon us. Good government, wise
economy and political integrity
will alone bring it to pass.