The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1875-10-20

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We was glad 20 meet u citizens 10
r another reason. A great struggle
r bad Just ended in Ohio and the whol'
; nation had been spectators. Th'
change of the State election IN Penn
/. ~sylvania from October to November
made the interests 10 the Ohio cleo
. ton more intense than ever before
Heretofore it had become an axiom
that "as Pennsylvania goes so gee:
Union. and this veal we have looked
To Ohio to indicate the sentiments o
the people upoa The questions before
them
THE pENoCaA ATTIC PLATFORM
The Democracy of Ohio adopted a
platform practically 10 favor OF inda,
iiou-of an increased volume ol
~oreenbacks. In the month OF Sep
tember the Democracy of Pennsylva'
MIA IN convention assembled at Erie,
adopted almost precisely the same
platform as their Ohio brethren. ln
This they were encouraged by the
Ohio Democracy, and warmly con-
graduated thereon. The chairman
of the Ohio committee telegraphed
that the action of thePenusylvania
Democracy was a tower OF strength
in the Buckeye State, and be promis-
ed a majority of $4,000 Now in
view of the result of the election Of
Tuesday last as known to all, may
we not, exclaim with Falstaff How
the world is given to lying"
lTLaughter. He rejoiced in the ac-
ton of the Pennsylvania Democracy
and announced that it would carry
Allen through by $4,000 majority.
But. fortunately, fellow citizens, the
people Of Ohio in their wisdom aud
intelligence have through the ballot
box come.out and put their seal of
condemnation upon 1t.
IL CONTEST IN THIS STATE
We have before US an important
struggIe-that in Ohio has been no
blv fought and won-but 1t is for the
Republicans of Pennsylvania in No
yember to achieve a more glorious
victory aud put their seal OF condem-
nation upon the efforts Of the De-
mocracy. Because of success IN
Ohio we should not relax our efforts.
1t ought to induce every earnest Re-
publican to renew his efforts so that
we may proclaim John T. Hartranft
elected Governor by $4,000 of q ma
jority. The contest involves not only
questions of local and State interests
but national issues. The national Is
u has been forced upon US by the
Democracy Of Ohio at a time when
no legislators or members of Con-
gress are to be elected or national Of
ices filed.
THE CURRENCY QUESTION.
The issue has been forced upon US
when in no possible way except to
procure an expression of the public
sentiment, could the currency ques-
ton be considered. The Democracy
have in advance brought up the ques-
ton, although it does not pertain to
the election in hand. The speaker
then reviewed the causes which
brought forth the greenback by Re-
publican legislation. it was a war
and the necessities of war
caused the issue. The Republican
party saved the life of the nation and
greenbacks were an essential aid in
the struggle. At the breaking out
of the war there were some 1000
State aud territorial banks organized
under State and territorial laws.
With the Inauguration of the war
these backs suspended and with the
call to arms there was q call for mon
ey but none of the latter to be had.
1t became an absolute necessity for
Congress to pass a law by which one
hundred and fifty millions dollars of
what are called greenbacks were is
sued and circulated. As the war
continued it was found necessary to
increase the issue to four hundred
millions of dollars and q law was
upon the statute books that
the issue should not exceed that
amount. 1t was absolutely necessa-
~, the issue of greenbacks was as
essentially a war a as was the
drafting of men, the emancipation of
the slave, the arming of the slave
and the suspension of the writ of
corpus, and to-day one of the
questions raised is what Is to be done
with the greenbacks.
NO CONTRACTION OF THE CURRENCY.
Ia 1878, during the dark hour for the
Union when the armies were at a
stand still and more money was
needed, If was that Secretary Chase
brought forward his National Bank
system which bias grown up during
the past twelve years. Mr.. koontz
here stated the provisions of the Ma
tional Bank law, showing that with
the recent amendments the ~circula-
ton by it was unlimited. He re-
to the security offered to the
of the notes of the national
banks, bonds as collateral, and the |.
faith of the Government pledged for
their redemption, and contrasted the
State bank notes before the war,
when there vas no safety from day
to day, and the holder could no,
from State to State with the
then currency in his pocket as now
are charged by the Democracy
contracting the currency or
with q desire to do so, while the fact
IS Just the opposite. 1t is demon
to a certainty that there is as
much or more currency in circulation
az at any time since the war.
The speaker here gave the figures
showing the circulation at different
periods, and said there is no Mt eessty
for any further expansion.
At this point the immense torch
light procession passed along Ohio :
aud Federal streets, and the remarks
Of the speaker were suspended.
When the procession bad passed