The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-06
THE OHIO DEMOCRATIC PLAT.
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The writer of the communication which W
print id another column under the above cap
ton is lifelong Democrat, from the feet
jackson, and cherishes all our party traditions
He believes the Ohio Democrats are sincere
and he gives the best excuse that could be rem
dered for their imitation resolutions as pre-
scented in their State platform.
All the arguments employed by our inge
NOUS and logical friend would be more &C
ceptableif urged to show that there should b.
no sudden or abrupt change made in tn
volume Of the currency as now allowed by tn
United States Government, since such
change would operate to the serious detri
ment Of business. Thus much we admit, al
do all the Democrats of the Union who aim q
ultimate resumption of specie payments
But when the debtor party, as q party, ash
the government to increase the amount o.
the circulation, SO that, money being cheap,
they can the more easily obtain a suficiency
with which to pay their old debts, even though
they may be interested in such expansion
even though it would be great hardship to
pay, in gold, debts contracted for paper
money when such money was not worth hall
the par of gold, We must candidly tell them
that the boon they invoke is one which does
not consist with the spirit of genuine Democ-
racy to grant. fnF ~
Perhaps in the course toward gold basis,
contraction has reached point where it
should pause for the proper time to arrive,
when another step may safely be taken; but
most assuredly the financial and business
common sense Of the nation is not likely to
permit another expansion, and if such expan-
sion is attempted, it will be vigorously OPP
posed by two.thirds of the members of both
parties.
This very clamor for an expanded currency,
made by those who want the currency depre-
ciated SO that they can pay their debts the
more easily. shows very clearly that the
power of expansion and contraction is one
which ought not to be LETT to any government
State or Federal. If paper dollar is worth
now one-third more than it was eight years
ago, and was worth then only one-half as
much as it was four years before that; If no.
body can tell day beforehand what it is
going to be worth; if in this perpetual doubt
and uncertainty, this constant change and duc-
tuation, bold spectators cause scarcity at one
moment and plenty the next, profiting by the
changes at every turn and putting millions
into their chests, if these variations and
monetary Gibbs and floods leave debtors and
creditors, buyers and sellers, owners and
lessees, producers and consumers, exporters
and importers, all in state Of uncertainty,
with feverish hopes and chilling fears Is to
what the coming day may bring forth. can we
hesitate about the right of the people to rise
in their might and shake off this incubus and
to demand that the meretricious intercourse
between the Federal Government and the
finances of the country shall cease. When
we would be rid Of reptiles and vermin we
burn up the trash in which they hide and
breed; even SO must we do away with fuctu-
ating paper and the pernicious multitudes of
spectators who abuse it and grow fat under
It.
The issue of paper money by the Federal
was an egregious blunder, and
never the necessity which its apologists claim
hat it was. Let the laundering government
eturn to the path of its plain duty and linn
ted functions as regulator Of the value Of
oined bullion, and there stop.
Moreover, there is nothing to hinder re-
Of specie payments as to all trans
ctions after fixed future day, without in
luding old debts. Next winter Congress
night enact that gold and silver coin only
hould be considered as legal tender for all
ebts contracted after the first day of July,
876 but that the legal tender notes and ma
ional banks notes. as now authorized by law,
hall be received in payment of all debts con-
'acted before that date, unless otherwise
Stipulated in act, bond, deed, bill or contract
Indebtedness. That would give paper for
urrency debts and gold for specie debts and
lace the released business of the nation out
its monetary shackles at once.
Nor is there anything to hinder such q re. !.
i'm to q system of gold prices for produce
nd merchandise at once as will make gold
le measure of values, and leave paper the
and variable commodity of the
,ops and stalls. 1t is the royal right of gold 7.
rule as the medium regulator and measure
values. 1t has been deposed by violence
ON its kingly functions, but it ought to be
installed without needless delay.
We do not believe in contracting the cur
ncy to enrich creditors, nor yet in initiating
to accommodate debtors, but in steady
turn to that true currency which can be
sither inflated nor contracted. We do not
K the government to make money scarce or
enty, but to renounce the faculty and au-
ority to do either. We want divorce Of J
Q Federal Government from banks and the q
onetary system just as soon as the offspring
the ill.starred Union can be provided for. q
The call by political party upon the Gen.
r.