The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-08-05

The Opening Speech Of the HepubIi'
can Cnndfda ! e forG oser6or OF Ohio.
Goyernor Ru,i,etfofd B. Hayes opened the
Ohio Republican canvass sc Marion on sal.
urdavseyening. Thafollo wing Is report OF
the first part of bis speech, in which LIE
touched on the great question OF the DAY:
Fello,o. Citizens of Laurence county,-lti s
qualification for which wish to mike my
| acknowledgements to the Republican commit
tee OF this county TO have the privilege or be-
| ginning in behalf. of The. Republicans Of ONO
the oral discussions of this important pollti'
cal canvass before the people OF Lawrence
county Although my residence Is sepa.
rated from yours BY the whole breadth OF
the State we are not strangers. we baNe
met before on similar occasions, and some OF
YOU were my comrades in the Union army
| during considerable part of the great c'Vii
conflict which ended ten years ago. inose
who had the honor and the happiness 10
serve together during that memorabe strug'
gle are not likely to forget each otner.
We shall forever regard those four years
as the most interesting period OF our ives
When the Republican party, Wild Aora'
ham Lincoln as President, received the 20
vernment from the hands of the Democraeic
party fifteen years ago the Union OF the Ia
thers was DESTROYED. A hostile nation dedl'
lcated to perpetual slavery bad neen esIao,
lI,shed south Of the Potomac. and clailheu
inrisdicfion over one.hird of the peoples
tterritory of the republic. These STATES were
discovered. discordant, belllgerent." our
land was rent with civil feud. and ready TO
be drenehed in fraternal blood: Now, oenola
he change. The Union is rtestaollsneo Oh
ffrner foundations than ever before. brave
mon in the South who were then in Dattle
,rrop AGAINST us now stand side By side Win
the Union soldiers with no shadow OF ais
cord between them. Slavery, which was tnen
Ian impassable gulf between the nosllie sec
tions, is now gone, and good men OF tne Hou!o
mite with good men OF the Nortn III
lihsnkinp God that it is forever thing OF
the past. Then there was no ireeaotn OF
.necch or of the presS-n0 friendly mlnghng
together Of the people of the two sections OF
the country. Now the people OF the oou'n
receive and greet as feIloW-cltiZ"n anu
friend the VIce-PreSident-ac ltlZen OF MAS
sacbusetts and an anti-savery man from DIS
lvouth-and Maryland, Virginia, ana soulh
/ Carolina send their distinguished SONS 10
celebrate With New England the centennial
anniversaries of the early battles of the Key
0InttO0. 1Ut IuCu vi lhS ANSA' eoN ~''o
men of the South are now everywhere COM
ing together in spirit Of harmony ana 'rlenu,
ship which this generation has not Witnessed
before, and which has not existed until no"
since Jefferson was started by that SIRE
bell in the night" the Missouri question,
more than fifty years ago. In this era OF
good feeling and reconciliation Re" men VI
morbid temperament, blind to what is pass.
ing before them, still talk of "bayonets" and
"tyranny aud cruelty to the South,' and
seek in vain to revive the prejudices and pas
sious of the past. But there is barely enough
of this angry dissent to remind us OF the ter
ribIe scenes through which we have passed.
and TO ill us with gratitude that the house
which was divided against itself is divided
no longer. and that all Of its inhabitants now
have a fair start and an equal chance in the
race Of life.
| THE DEMOCRATIC INITIATION SCHEME.
Let us now proceed to the consideration OF
some of the questions which engage the at
tentiou of the people ofOhio. The war which
The Democratic party and its doctrines
brought upon the country left large debt,
heavy taxation, q deprecated currency, ana
an unhealthy condition of business, when
resulted two years ago IN hnancIal pan.c
| lOU upDTcSSlOu HUH shC az
now slowly recovering. With this condition
of things the Democratic party in Its recent
State convention at Columbus undertook to
deal. The most important part, 10 lact Tue only
mart of their platform in Ohio this year which
receives or deserves much attention Is that
in which is proclaimed i radical departure
on the subject of money from the teach
ipgs of all the Democratic fathers. This
lpnt rinp inallIp3tpS Inc
abandonment OF gold and silver as stand
ard of value. Hereafter gold and silver are
TO be used as money only "where respect
for the obligation OF contracts requires pay
ment IN COIN" The only currency Tor the
people is to be parer money, issued directly
by the General Government, "itS volume to
be made and kept equal to the wants OF
trade" and with no provision whatever for
its redemption in coin. The Democratic caE-
diiate and Licutenlnt-G0vernor, who open
ed The canvass for his party, states The money
issue substantially rs | have. General carey,
in his Barne>ville speech, says:
"GoId and silver, when used as money,
are redcemabe in any property there IL for
sale in the nation will pay taxes for any
debt, public or private. This alone gives
them their money value. If you had hun
drcd gold eagles and you could not exchange
them for the necesSaries of life they would
be trash, and you would be glad to exchange
them for greenbackS or anything else that
YOU could Use TO purchase what you require.
With an absolute paper money, stamped ny
the Government and made Il legal-tendcr Tor
all purposes, all its functions for money are
as perfect as gold and silver can be-"
This is the financial scheme which the
Democratic party asks the people OF Ohio to
approve at the election in October. The Re-
public;fns accept the issue. Whether consI-
dered as permanent policy or as an expe.
dient to mitigate present evils, we are op-
oosed to it. II is without warrant In the
Constitution, and 1t violates all sound fnan-
cial principles.
OBJECTIONS TO INITIATION.
The objections to an Inflated and irredeem.
able paper currency are so many that l do
not attempt to state them all; they are so
| obvious aud so familiar that | need not
elaboratcly present or argue them. All OF
the mischief which commonly follows in
flated and inconyertibe paper money may
be expected from this plan, and, in addition,
it has very dangerous tendencies, which are
peculiarly its own. An irredeemable and
irfllted paper currency promotes speculation
and extravaganza, and at the same time dis.
courages legitimate business. honest labor,
and economy. 1t dries up the true sources
of individual and public prosperity. Over
trading and fast living always 60 with it. 1t
stimulates the desire TO incur debt; it causes
high rates of interest; it increases importa-
tons from Abroad it has no fixed value; 1t
is liable to frequent and great fluctuations,
thereby rendering every pecuuiary engage
ment precarous, and disturbing all exist
ing contracts and expectations. 1t Is
the parent of panics. Every period OF
:, fo1l cd hp lncc Of n.