Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-08-01


nation, and with the views Of almost the
entire body Of the business men Of America.
Now, it has been roUndly asserted, and
with violence of speech that might be con-
sidered intemperate, that the platform Of
our late Convention means Just the OppO-
site Of our opinions; that it means an ire
desmable paper currency now and and for
ever, and, consequently, that gold or silver,
or paper convertible into gold and silver,
shall never form a part Of our circulating
medium. But certainly no such idea Is
expressed in the platform, nor do believe
that it is entertained by majority Of those
who approve it. l know that there are
men who advocate the abandonment Of
gold and silver as money; who scout the idea
OF redeemability Of the currency; who assert
that whatever the Government calls money
is money, and who regard irredeemable
greenbacks as the Best currency the world
ever saw. But l do not think that these
men constituted a majority Of the late con-
vention or Of its COMMITTEES on resolutions.
Had such been the case their views would
have been expressed without ambiguity.
But you look in vain in the platform for
direct expression in favor OF irredeema-
bility, or a direct assertion that gold and
silver should be demonetiZed. II advocates
the substitution of gTeenbacks for national
bank notes, but it nowhere says that the
greenbacls should be irredeemable. On
the contrary it cOntemplates that they shall
be brought to par with gold, and although
we may not be quite able to see how that
can be done in the mode proposed, its de-
sirableness is most distinctly and fully
recognized. And then, as to imitation, the
platform does net expressly demand more
currency. 1t denounces contraction, but
does not say in plain words, Give us inha-
ton. What it does say is, shat the vol
ume Of currency be made and kept equal to
the wants of trades" and this is all. Now,
l suppose that there is not, and never has
been, a man in any civilized country who
would not say that the volume Of currency
should be equal to the wants of trade. To
say so is to utter a mere truism, mere alb
straction. The practical question is, Have
we that volume now? and upon this ques-
ton the platform is silent. To him who
believes that the present volume is suf-
ficient, it means no imitation, for in his
mind it is already quite 'equal to the wants
of trade" To another man, who thinks
that more currency is needed, il does
mean expansion; and so, whether it means
the one thing or the other depends upon
the preconceived opinions Of every one who
reads it. Suppose, for instance, that an
Ohio member Of Congress, having to vote
upon an Initiation bill, should look to this
platform for his guidance, what light would
he get? What is there in it to tell him
whether he should vote for an increase of
currency of ten millions, a. hundred mil
lone S., hrr~,H-oA y,.S11s.~.s
at ali?
Now, the gentlemen who framed this
platform are able and bold men, mas
tiers of the English tongue, capable of say
ing what they mean, and by no means afraid
to say it. When, therefore, they plainly
denOunce contraction, but fail to expressly
advocate imitation, is not the presumption
fair that they do not mean imitation? I'm
derstand me, am not defending the plat
form, for in some particulars l DO not like
it, and leave to those who approve it the
task of its advocacy. Nor am / criticising
it, for have no disposition to be critical,
and ! leave that role to our common adyer-
saries. But think it but justice to say
that the platform has been construed to
mean more than is expressed in it, and
more than wss meant, as l believe, by
those who framed it. In saying this l do
not lose sight Of the Interpretation placed
upon it hv some Of its friends. | know
that some of its Warnest advocates regard
IL as a declaration against gold and silver,
and for an irredeemable Ereenback currency
now and forever, coupled with great and
permanent imitation; but for reasons that l
have partly stated, and others that | have
no time to state, believe that these men
are comparatively few in number. The
truth is that there is 2 wide diversity Of
opinion among the people Of all parties
upon this subject. There are Democratic
hard-money men and Democratic paper
money men; Republican hard-money men
and Republican paper-mOney men; Demo
cratic resumptiOnists and Democratic in
fatiOnistS, and Republican resumptionists
and Republican infationists. The ques-
ton IS not strictly party question. Honest
men Of all parties may be fOund on its OPP
posite sides, and so it mas ever been after
every great panic bye which the country
has been afflicted. / have not
heard an argument, pro or con, that
has not been advanced 8 hundred times in
Europe and America before the panic Of
1873. But in the end truth is sure TO pre-
l-4s dlAtk III AAtC AlEdAllluAE LII "a hUlAo anu
bitter accusations serve no good purpose.
No man has fTmeT convictions on this suit
Jet than have. They are the result Of
much experience and of a long, patient
and conscientious study. have expressed
them time and again, in conversation, in
public meetings, in conventions, and in my
place in the Senate. stand by them
whatever may be my political fate; but do
not assums to be infallible, and ru:hleSsly
condemn men as sincere rs l am who en-
terrain a different opinion. Much less can
l sanction a disruption Of the Democratic
party, because in a single State it has so
happened that a convention chosen 70 nom
mate State officers Oniy-oflicers who will
have no jurisdiction over the currency
question-has, upon this one question,
adopted a platform that my Judgment does
not approve The currency question, so
far as legislation can affect it, rests with
Congress. II is a National, and not mere
State concern; and although every State
has perfect right to express its opinion
upon it, and may very properly do so, yet
its solution is devOlved upon the repre-
seutatives Of all the States in the Congress
assembled. And the drafting Of a national
party platform upon it, to be submitted to
the people, is the Office Of a national con-
vention representing the party in all the
States. Such a convention of our party
viii meet next year, and its deliverance,
we may fairly presume, will reflect the
opinion and manifest the will Of the entire
Democracy Of the Republic.
The, Democ, attic party has existed for
more than three-qusTters of a century. 1t
has survived all parties except the COM
paTatively modern party with which il is
now cOntending, and the signs Of the time
indicate that ere long it will survive that.
Now, there must have been, and must yet
be, some mighty bond of union to first
create and then preserve for so long period
a party so powerful and persistent. That
bond cannot be "tbe cohesive poser of
public plumber" as was once said by an
eminent statesman and President OfanOther
party; for the Democratic party took its
rise when its opponents were in power, and
it haslmaintained its organization intact for
many long years when deprived OF all au-
thOTity in the federal government and in
the governments Of most of the States. Be
sides, no party can long exist in a free
country that has no other foundation than
power and plumber. Were that possible, it
would prove beyond dispute that the people
are incapable of self-gOvernment, and that
free institutions are consequently failure.
We must look, therefore, to other causes
to account for the existence and vitality of
the Democratic party. And these causes
we find, first, in the general fact that, more
strongly than its adveTsariss, it is imbued