The herald and mail. [volume] (Columbia, Tenn.) 1873-188?, 1875-07-02
The Ohio Platform J..

The platform recently adopted by the
Democratic party of Ohio has caused
great commotion in political circles. The
chief point of attention tx the financial
planks, which the hard money Republ-
cans of New York and other money CEN
tiers, denounce in unmeasured terms as
being rag money platform, and cal
culated to make our national currency rs
worthless as Confederate money. The
planks referring to finances are as follows:
s. That the contraction of the currency
heretofore made by the Republican party,
and the further contraction proposed by
it. with view to the forced resumption
of specie payment, has already brought
disaster to the business of the country,
and threatens it with general bankrupt
CIV and ruin We demand that this policy
| be abandoned, and the volume OF the cui-
rency be kept equal to the wants OF me
| trade, leaving the restoration OF legal ten
ders with par gold to be brought about
by promoting the industries of the people
and not by destroying them.
8. That the policy already INITIATED by
the Republican party of abollsmng legal
| tenders, and giving national banks the
power to furnish all the currency, Will IN
crease the power of an already dangerous
monopoly, and the enormous burdens
nov depressing the people, without any
| coIhpensating advantage; that we oppose
this policy, and demand that all the ma,
tional bank circulation be promptly and
permanently retired, and legal tenders
issued in their place.
That tho y1ublIp interest 0emdn is
that the government should cease to DIS
credit its own currency, and should make
its legal tenders receivable for all pubic
dues. except where respect for the obllga
| ton of contracts requires payment IN
coin, and that we favor payment OF a
least one half the customs in legal ten
ders.
IL, The extinction of the present ma
tiOnal banks, aud the establishment II
their stead of a system of free banks o
discount and deposit only, under such
! regulations as the States may respective
" prescribe by and upon the faith OF thu
general government.
The spirit of the above IS sound an'
good. A metallic currency IS as mu Ct
a part of Democratic faith now as III tn
past, for the government can never be Il
healthy condition until specie pay
ment is a reality. But this cannot be at
tanned at present without making slave
of the toiling masses to the money pow
or Contraction of the currency enhan
ces the value of money in the hands q
the few who now possess it, and reduce
the price paid for labor. Reduction II
the price Cflabor would not be so yer
wrong. if taxes were also reduced, III
; enormous government debt was con
tracted when the currency was initiate
to its utmost tension, when prices wcr
exorbitantly high, and money made easy
and it is unjust to the great masses tina
they shall pay that debt so contracted II
times when the currency is reduced. h
government is made for the people, an
not the people for the government; an
it is the grossest tyranny to attempt |
make them pay off the debt under con
tracted currency The Democratic par
ty is for metallic currency, but 1t Is al
f so the party of the people, and will de
nothing that will rebound to their lnJur
and distress.