, 1875-07-23

areenbacaer, opened tho campaign in tin:
state nndor circumstances TINT indicate TINT
ho has got badly scared, aud ho plunged
wildly into tho defense Of that part Of tho
piatfor1n which is known to the country ns
proposing imitation OF the currency by doub-
ling the amount Of the legal-tonders, Hero
is tho platform itself:
Eighfh-That tic contraction Of tho currency hsre-
tofore made bJ tho Republican party sud ths furth.r
contraction proposed by it, with vew 10 tho forced
Essumption OF spccfs payments. has Aready brought
daaster to the bus!nota of THO country And threatens
It with gcnornl bankruptcy and rum. Wo tlo,uand
that hs policy bs Abandoned and that tho volume Of
currency bc made and kept equal TO the wants Of
trade, leaving tho restoration Of egal-eners 10 par
With gold to be brought about by promoting tAs In
dustries OF tho people, and not by destroying thep
Math-That the policy nlroady 1nitiated By tho Ro-
publican party Of nboltshlng leKalcners md giving
National Tanks tho power to furnish a the c,rtcucy
~ll ancrease The power Of An alroay dangerous mo-
nopoy mud tho enormous burdens now opprcssiuR the
1oople without any co,npcnsatng Advantage and that
we opposs to ts policy the demand that all the Nd
tionsl Dank circulation bo promptly and permanently
rctrod. and lcgal.tsndsra b ISSUED In their place.
1tnth-TAst public interest demands that the Gov.
ernment should 10 dacrc1it ita own curroucr.
and should mako iA 1egal.toadcrs receivable for al
ou Of contracts requires payment In coIn aad that Va
favor The payment Of at Least onohAN Of Tho customs
III ie8al-toulers.
fltsHtA-The extinction OF tho present National
Banks, and the establishment In their stead Of svn
te.n Of freo bant OF discount aud deposit only under
auch regulation % tho States may respectively mo-
SCRIBE and no paper curronoy except auch a. ray 10
ispued directly by and upon tho authority OF tho Con-
oral Government.
This platform, Mr. PENn1EroH insisted,
was in favor Of an carly If not Immediate
return to specie payments | He doclared that
it did not moan alorreoiatod currency That
tho Democrats wero in favor Of coin a
tho basis cf currency, THAT is, paper cur
roncy redeemable Oh demand III coin that
tho party desired currency convertible into
coin as speedily as tho interests of labor and
business would permit they would be glad
to return to specio payments Immediately.
Tho Democratic party was not in favor Of
rcpudiation, and believed it to bs tho lighost
duty to pay tho national obligations. They
were opposed to largo volume Of currency
ductuating in vatus at tho whims of specr1la-
tors He declared that the platforS,-and
ho interpreted 1t as he understood it-wps a
ha'xIn,oney oae ; that he was hard.monoy
mani! aud believed that return to spe.
clio payments should bo tho end sought by
every oct Of logislahon.
The Ohio Convention passed its resolutions
On the 17th Ut June, and for sir weeks the
various Democratic candidates and all the
Democratic papezs IN Ohio, under the lead Of
the wildcat Enquirer Of Cincinnati, have
been declaring that the platform meant
grocnbacks not only as substitute for M
tional Bank notes and other paper currency,
but as permanent substitute Tor gold aud
silver; that 1t meant tho extinction perna-
nently Of ooin "a standard Of value, and tho
substitution of irroloemablo ghinplasters not
only a. a temporary currency, but rs
"money," stamped as such by tho Govern.
1nent, and to circulate as money without re-
demption III time or eternity. These papers
aud orators have understood this platform as
oil the world have understood II, ,-as declaring
tho oxclusion Of gold and silver aa q means
Of paying the national debit, and A. q reduo-
ton Of tho whole bonded debt OF tho United
states to tho form Of non-intercst-bearing
groenbacka. Tho odium and obloquy which
hisplatfoE1nhas ELECTED, and tho revolt among
tho honest portion Of the Ohio Democrats
against 1t, has evidently scared Mr. PEHp1E-
TON. and In his speech he publicly scots to
take tho platform back and to put his party
on the most advanced ground Of par paper,
hard money, aud immediate resumption of
specie paynents- It Il too late for this cam.
palgn In Ohio.