The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1875-11-30
About ImpairInR the Public
Credit

About ImpairInE the Publlc
y!gij4s ,a Credit"
While the Fall elections were pending,
aud IN a smaller degree since, thegcon.
ltractionistpapers and stumpers manifest
Ted q great deal Of patriotic solicitude
for the public credit. II was assumed
thatthe National credit Was greatly i'm.
paired, and was In imminent danger OF
total collapse. all because Of ths ''in.
iationists,"' This distressing state o.
affairs was to be remedied anil made
lovely by the success Of &C Saspi.
rants for office
The elections are now over, the men
! in whose behalf this bispf humbug was
iprac,iced have got the offices they
snught, but the public credit, for which
lthey affected to be laboring 80 sealously,
remains precisely as it was; and the only
gamers by the great agitation we're few
office seekers ~
That so many men should be deluded
and misled by such transparent dema.
| gogueism as won the Ohio election il
really humiliating.
The very term sinfationist," as now
used, il frauia "Iaf1ation" means IN,
due expansion, and there was 70 party,
nor anybody speaking for d patty, that
asked Tor such expansion OF the urren.
cy as would materially reduce it's pur.
chasing power But in addition to stig-
matizing the Democrats as "in6ation.
ists" the disseminators OF this humbag
80 constantly associated with that epi
( thet the till lmore odious term "repudi
ationist," that men who c,uldn't think,
or wouldn't think. accepted then as sy-
nonymous, and as truly defining the
platform4of the Democrats, g,o
II it had been true that great party
| in the West advocated "infation,' which
was defined to mean an unlimited issue
Of greenbacks, it would have alarmed
the holders OF that currency, anil would
have impaired our credit at home. If il
had been true that such party advocated
|.repudiation." that wouli nave alarmed
bond-holders. and would have impaired
our credit both at home and abroad
But it was not true, and the holders o.
bonds as well as the holders of green
backs knew il was not true; and for th;t
reason the elections, with their attendant
excitement, came and went again with
out our National credi. at any time feel
ing their existence.
| In the midst OF the loudcst clamo
about "inHationists' and s'repuaiation
lists" the bonds Of the government wer'
being negotiated in Europe at a reduced
rate of interest," 9 This conclusival,
proves that the capitalists we're, full,
aware Of the charges against the Demo
Gratis being mere electioneering trumpe
Try; and that the only persons to believ
/ them were few weak-headed voters il
the States holding the elections.
| But il the National crelit is ever t
be shaken it will not be done by th
Democratic party Of the West 1t viii
bbe done by these self-constitu.ed guar
fdians OF National honor, VINO are brawl
ling about the existence Of repudiatiol
party; and our credit now ranks wit
the highest only because capitalists hay
had intelligence enough to repudiate tn
stories or repudiation. @
/ It was and. is to the interest Of certai
political intriguers to iBjare the Nationa
credit, then ix the blame on their oppo
nents, and by this means to make poli,i
cal capital with which to secure thci
lends.
The parties most directly inieres.e
have treated these roorbacks with c,n
tempt; il the people everywhere will d
the same thing, the National credit vii
take excellent care Of itself, aud the mex
elections will turn upon true and nc
upon false and fraudulent issues.