Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1875-08-06

grain. your coal and iron, for money
'As variable as II . shade
BY the iight-quivering asI sn made"
Now,if thisresolution read "that the volume OF pa
per money, always redeemabe in gold and silver,
Ihai be equal to the wants Of tradk it would be AL
right. We would have standard of value; but the
resou asst stands Is the most transparent dema-
4ogueasm Il would be as II the merchant would reg
julate the length OF his yardsck by the necessities OF
his purse II the coal and iron man would ,Ulate
Jhe weight Of his ton by the amount of his debts;
Ii the farmer would reduce the number OF pounds in
bushels whether the crop s good bad. IL * this
papabe iallacy that dismisses from a dollar the at
tribute Of hxed intrinsic measure and value, into
which Gov. Allen has fallen at GaHipos, and that
,misleads many an honest man, and has caused many
iof the wrecks that mark the history of human
Bnt our Democratic platform-makers, recalling the
old Democratic ideas about gold tell us they arc for
leaving the restoration Of legal tenders TO par with
gold TO be brOughe about by promoting the industries
Of the people, aud not by destroying them. How do
They propose to promote your mdustrios2 Is it by
projecting industry and building up your manu-
factores2 Oh no, they tell you plainly that IN franz
ing their tariff laws they will look only TO
not TO the benefit they confer upon you.
What them Echo answers what What
has the Democratic party done for thirty years 10 pro-
mote of labor NOthi ng but for the labor
of slaves Il is to the Republican arty you owe your
homestead law, the policy that has made US nation
of free men. IL is to the Republican party you owe
the protection Of your labor and for the very currency
: they seek TO destroy What party now threatens
reacton against all the measures Of the war? What
party has formed coalition against your common
school system and only awaits good time 70 carry IL
out? But they tell they will restore your legal
henders 10 par in gold. When2 II not now, why not
three years hence? Why not support the Republican
policy2 1t needs argument my fellow-citizens, to
convince you that the men who tranod this platform
have 10 Intention to restore your legal tenders q
gold standard except through repndia1iOn. That is
their process. The wants of trade construed by
Them will lead step by step into in6ation general
bankruptcy and reputation. Judge Thurman
fright when he said in the Senate in 1874 that If this
nSicv was adopted he would not live 20 see again in
circulation good old Democratic moDey-gold and
silver The war for American indepe ndence and its
grim necessities drove our revolutionary fathers into
NH olipv-- nd gn Wit
her revolutionary struggles; and ia both cases the
Currency repudiated as worthless Now, after our
war happily over and all its hard sacrifices have
been bed with success when we on the plain
road To specie standard we are asked in the name OF
the "demands of trade" to adopt the same policy, to
issue money without any plan OF redemption on
the promise Of the Democratic party that time
motinS 3 the Of the pedpe For one fellow
citizens, should want more specific guarantee and
better guarantor than the Democratic party. We,
the 1epuOiican party, VINO arc resPonsloiie 10 our
country and to mankind for the redemption Of the
promises contained in these greepback notes. must see
TO their redemption and not turn over TO our adversa
res this last remaining duty OF our great conflict
France old revolutionary friend, has recently set
us noble example oy resumiDg specie payments after
her unsuccessful with Germany and after suffer-
ing greater sacrifices than did, and It is admitted
that her are now more prosperous than ever
before in her long history. These shadowy fears,
which know in the minds OF business men sometimes
cloud the pathway of duty, will disappear by
steady adherence to the Republican policy.
NATIONAL BANKS
The next resolution of the Democr1plc platform to
'.Ninth--That the policy already initiated by the
Republican party of aboshiug legalenders and Civ
ing national banks the power TO furnish all the
rency will increase the power of already dangerous
monopoly, and the enormous burdens now depressing
1he people, without any compensatipg advantage and
that oppose 10 this policy the demand that all the
national bank circulation be promptly and permanent
ly retired, and egal-tenders be issued in their place.
The substance of this resolution is shat the national
fbanks shall be promptly destroyed, and that the
greenbaek cre1laiion shall oe increased at the same
startling proposition, let us dispose OF some OF the
fact contained in this resolution II IS not
true that the Republican party proposes TO abolish the
dega-tenders give TO the national banks the
tre circulation of the country This ia question of
the futnre, upon which parties have not yet taken
their position, and upon which doubt differences of
opinion will arise. The Republican party has taken
Che position that by tive LIST OF January, 1879 both
Iegatenders and naonsl bank shall be Fedeema-
bic in gold when demanded. To this extent and
further have they taken position For l am
tree TO say that while public debt exists am for
maintaining in circulation United Sthtes notes 70 the
Gull amount that be maintained at par in gold
aud no more. And I am convinced that such notes
payable on demand in coin, 1t the option of the
government in a Hxed fond which in the money
market rs usually par in gold would keep in ciTcu-
lation ALL nearly ALL the present volume OF United
NSIAt notes; but if not there is no reason in the
world why the government ought not 20 pay interest
debt 1t is prepared to pay in coin And with
such notes. 1t Is immaer1A whether they are or are
not legal tender To guard against the sudden effects
OF panic, would leave them legal tender But
these my individual views, often expressed and
Bepuhcan party has taken no position, ought 1t
10 do until after resumption. As to the national
We can repeal the lav of their creation Would it be
wise 10 do sO2 They are denounced ~ monopoly
This is now fAlsehood For time after the limit
passed BY Inv for national oauk circulation was
tTeached they were in sense monopoly; but since
lthe act Of last winter banking is as free
blacksmithing. iron making, OF merchandising, and
hreer than the making OF lawyers doctors
preachers. Any SET of men may start a bank III any
part of the United States tho terms, conditions,
and responsibilities fixed by the banking law Over
1000 BANKS have been auihorized scattered all over
the United States They have loaned of their own
money of that deposited with them, $50 millions of
dollars and this constitutes large part OF the active
capital upon which the manufacturing commercial,
and mining industries of the country rests They
the principal agentsfor the deposit and exchange of
money not only in the United States but with
foreign nations. Their business reaches among and in
erlaees with that of every citizen Of the United
fStates They private corporations, the govern
ment has nothing To do with them except TO make
them pay taxes and TO obey the laws These laws
very strict requiring from them reports under oath
and subjecting them frequent examinations at
expected times, and maintaining over them the strict
es surveillenee The only privilege these banks enjoy
that the humbes citizen does not is that by giving
ample security in United States bonds they issue
n certain proportion of circulating notes. They pay
the expense Of printing these notes. redeem them
promptly on demand with United States notes; keep
money in the Treasury OF the United States for that
purpose the notes not legal tender; nobody is
hound to take them. When this is all done
Squire them 70 keep part OF their notes on hand we
slX them all; the States tax them and the counties
and towns, that their aggregate taxes are now
$780, O0OO0O These the national banks. They
organized by the Republican party TO supersede, TO
take the place of the State banks a mongrel crew
under no common authority obeying no law giving
u Gtas no issuing ehsiiJ
feited and of limited circulation. Under the national
hank law there be successful eOunterfeting the
notes Pre secured beyond the possibility OF lOss the
ibank may break, but the note Is good. They pass
without question anywhere in the United States. They
are organized Tor twenty years. but still the law
be repealed. Business in some branches is languid.
Debts are hard to pay and hard TO collect.
Everybody Is trying to save a little IN ex-
penses, and to make little more crop. And
set OF men, self-appointed, calling themselves
Democratic Conyenton-a state Convention remember,
mot national COnventon-meet at Columbus ana
sove that all this system Of national banks, inter-
woven with the business OF the people OF the United
Estates, shall be promptly torn ups that this vast in
dehtednes of thepeople 10 the banks shall be promptly
paid, and that ali the bonds Of the United States
held by these banks shall be forced the maRet
aud that the Uniled STATES shall then issue it's legal
tender notes to the additional amount of $50 millions
Such Is the financial programme OF the Ohio Democrats
10 give relief 10 the business interests of the country
is there any business who hears who does not
know that sach ameasure, if adopted, would utterl
destroy the industry of thecOuntrY?
MORE GREENBACKs UNCONSTITUTIONAL,
Let examine this proposition little further. The
first difficulty TO DeencOuntered that the issue of