The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1875-07-08
TINE DEVELOPS STRANGE
EVENTS.


The Republican party, under cir
cumstances of pure necessity, for the
time being, developed the policy of
issuing legal tenders, which turned
out to be the best and most reliable
currency V invented. With it the
nation fought the war of the rebel
lion to a successful termination, and
by the means of this safe and relia-
BILE currency the Union of the States
was preserved. In this currency the
nation paid its citizen soldiers at the
close of the war, and in this curren-
cy the national debt was originally
and yet is equitably payable. These
views, as to national finance, were
acquiesed in by all parties, as ex-
pressed in their platforms, even the
bondholders themselves, until March
1869. During this long interval the
nation prospered, labor was literally
rewarded, and enterprises in every
direction were quickened and stimu-
lated. Productive labor, both agri-
cultural and mechanical, found ready
and profitable employment, and the
nation advanced in prosperity and
material wealth, under the flow of
legal tenders, within this interval
more than she had within any cor
respondingperiod from its formation.
All had confidence in the currency,
for it was placed beyond the reach of
bankers and brokers to the legiti-
mate ends oftrade and business. The
farmer found a ready market for his
products at reasonable prices, taxes
were easily paid, because there was
then no intermediate monopoly in
the currency between the people and
the supply of money, and conse-
quently the laboring classes were
prosperous and content.
But in an evil hour the Republican
party was bought by the bond-hold-
ers, and having control of the gov
eminent at the time, it originated a
national bank charter, and thereby
authorizing the bond-holders to bank
on the Indebtedness, and inaugural
ed the policy of retiring legal ten
ders, and supplying their place with
a national currency, and at the same
time declaring the bonds payable in
gold. This measure unsettled val
ues, doubled the national debt, de-
preciated the price of labor, and
moreover gave the complete control
of the currency of the nation. The
government is now, and has been
since 1869, administered in the in
terest of the bond-holders, and this
policy is sadly manifesting itself to
the injury of the people. Labor is
depressed, all kinds of enterprises
prostrated, and no business is now
prosperous, except dealing in money;
The Republican party assert in its
platform that the true policy is tc
return to a specie basis, and compe.
it by retiring all the legal tenders
which every honest man knows would
bankrupt the nation and ruin all ex
cept the bondholders. The further
the currency is curtailed, the more
valuable the bonds are rendered, anG
as the bondholders own and contro
the Republican party, in vain may
the people look for relief from tina
quarter. But the Democratic part,
. has declared for a repeal Of the Ma
tional Bank Charter, retiring tina
currency and substituting legal ten
ders, and the consequence is tina
every bond-holder and banker in tn
nation are with the Republican par
, ty and against the Democracy. LIE
the people examine these facts can
didly, and judge in which directio,
their true interest. lies.