The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-09-09
which Road Will lou Take?

which Road VIII lou Take?
The Republican claims to be the HARD
money party of the country, by virtue o
its paternity OF the act of January IA, 1875
known as the Resumption Act. The theory
is, that the government having authorized in.
fation and suspension, is in duty bound to
bring about contraction and resumption,
and that the only way to do it is to compel
it by an Inalterable law, like unto the laws
of the Modes and the Persians. The coun-
try at the time of the passage of this act
was financially sick, and this was the pre-
scription recommended by the Radical ply
sicians at Washington. Make the country
swallow this measure, said they, and you
will have no more consuming fevers at the
| money heart, and no more enfee bling chills
at the Southern and Western extremities of
the nation. 1t was objected that the coun-
try was not in condition to stand heroic
treatment, but the objection was silenced
and the act was passed. What has been the
consequence The country has daily grown
from bad to worse, and will continue to do so
until it throws up the quack nostrum which
was forced down its throat for good medi-
cine. Instead of restoring public confidence
and encouraging trade, the resumption act has
begotten universal distrust and has fettered
trade. Prudent men are afraid to enter bust
ness, and those who are already in it are
contracting instead at extending their oper-
atoms. The inevitable result is that labor
ing men are suffering for work, and all the
vices beeotten of Incidence are springing
from their enforced idleness. The natural
consequences of the act would have been
bad enough, but they have been intensified
by the general misrule of the party in power.
But it is claimed that the administration
has been perfect, and from that point of
view the act alone Is responsible for the de-
plorable condition of the country. The
truth is, that the invincible laws of trade are
higher than acts of parliament or congress.
Like the laws of nature they are inevitable
and self-adjusting and infallible. They may
be violated, but woe be to the offenders. No
modern Joshua may with impunity COM
mand them to stand still until he has smit-
ten our currency hip and thigh with golden
IQs
comes the voice of trade will issue the fiat,
and the thing will be noise
lessly and harmlessly done. 1t will
speak through the busy humming of
looms, through the harsh screams of factory
engines, through the hoarse breathing OF
blast furnaces, and through the sharp
rafting of heavily-loaded drays, as well as
through the merry songs of the lsborers,
and the confident tones of the capitalists
throughout the land. The only way to
bring about resumption then is by an
honest administration of the government,
and wise outstanding of our resources to
relieve the people of the overwhelming
load of taxes which they are patiently
struggling to bear; by wise legislation to
rebuild our commerce. to encourage indus
tries, and to make the United States govern
ment a synonym for all that is honest, con-
serving, substantial, and worthy of un-
limited credit. Step by step, as this is
done, gold will decline until it becomes a
drug in the market as a financial medium.
Every legitimate business enterprise that is
launched will be- an endorsement of our cur
rency, burden upon gold, weighing it
i
down toward par. The way not
to resume is to increase the premium upon
gold by blackguarding the governments
promises to pay, by calling them "filthy |
rags" airredeemable trask," etc. To under |
mine the confidence of capitalists and bust
ness men by an unsettled policy, and an |
unnatural attempt to regulate by law the
inevitable and pnerring laws of trace; to
burden the people to the ground by exorbi-
tant taxes made necessary by the perpetus-
ton of corruptionists in power and dema-
gogues in council; to stir up and fan sec
tional animosities so that the people of the
whole country cannot pull together for the
common veal: and lastly to encourage des
potism and systematic robbery in the South.
SO that we may have no market there for
the products of northern and western indus
trial art, and no revenue from there for the
support ofthe government, and no balancslof
trade to be paid in European gold. The one
road leads to fraternity, harmony, conf
ience, prosperity and specie payments
he other to hatred, strife, discord, timidity.
iistrust, contraction OF capital. poverty and
ultimate reputation. The ways are open
et the people choose between them.