Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-29
OHIO AND MARYLAND.
The Financial Planks of the De-
mOcracy in the Two States.
No IrrecOneilable Difference on
the Currency Question.
Albany Argus.

Albany Argus.
The Ohio Democracy, rightly inter-
preted, are opposed either to cOntrac.
ton OF to expansion; favor the aboli-
| ton Of the National Bank system and
the substitution Of greenbacks for
bank notes, and aim to build business
up to a specie basis rather than to tear
1t down to a hard-pan level. 1t Is well
known that there are essential points Of
difference between the Democracy of
other States and Of Ohio; but, surely,
there are no greater differences between
/ them than those which exist within the
Republican party. Why then contend
against the Ohio Democrats so strenu-
ously, and have nothing but approval
for the Republican financial policy?
The Democrats Of Maryland are
staunch, reliable and true. They
enunciate sound principles, and they
loyalty sustain them in practice. They
favor wise policies in State affairs; ana
they carry them out in administration.
How different this is from the course
of the Republican party we need not
point out at length. Frequently cor
rect in teaching, it violates the politi
cal deealogue every day IN the year.
Its entire financial history has been one
constant succession Of infractions Of its
own teachings, and Of the maxims of
the ablest statesmen and economists.
The Democrats Of Ohio concede
that their brethren Of other States are
correct IN aiming at specie payments
but they are afraid that the path TO be
chosen will lead over the wreck of
ruined debtor interests and industries;
and so they take the position Of a
brake. The desirability of specie re-
sumption is nowhere denied. The
Ohio Democrats urge it as strongly as
any. What, then, is there left to diff |
fer about? Republican journals every /
where say that difference as to method
must necessarily exist; and they have
tolerated the Ohio method equally with
every other. If they have changed, /
and now insist upon enforced cOntrac- /
tlon as the only orthodox Republican
method of resumption, their CONVEX
sion has been recent and speedy. Ger /
tainly, when they passed their famous
bill for resumption through Congress
last winter, they were IN doubt as TO
whether contraction CT expansion was
the best method; and to this day the
two elements of the Republican party
cannot agree as to whether that empty
enactment meant the one or the other.
The Maryland Democracy protest
against any increase of the circulating
currency" Have the Ohio Democracy
L.
expression?
The Democrats of Ohio protest
against contraction; and this Is in
terpreted as being hostile to resump-
ton of specie payments by those who
believe that resumption cannot lie at
tanned by any other means than con-
traction. And here is the only issue, /
so far as the volume Of the currency is /
concerned.
The nature Of the ecuTrency-the sub
stitutiOn Of greenbacks for bank notes /
forms another ard distinct element
in the financial problem.
The main question, then, relates to |
the means best to be taken to resume
specie payments. On this point the
Ohio Democrats believe that the busi- |
ness Of the country should grow up to |
the present volume Of the currency.
These are the issues as they are pre-
sented IN Ohio. That Jhey have no re-
semblance to the issues stated by the !
Republican press, is owing to the hasty |
conclusions Of the latter. Adjustment |
Of the currency to the wants Of trade |
is construed to mean more currency,
and hence initiation Is assumed. But |
unless trade needs more currency, this !
conclusion is a hasty and illogical one.
1t is as easy to conclude that this plank |
in the platform means less currency, /
or contraction; for certainly there Is |
now more currency ahOat than business |
can now absorb. But as this plank is !
really meant as a form through which |
to express hostility to contraction, It ]
must be so interpreted. On the other
hand, it does not mean initiation; for its |
trainers so declare, and its language |
fairly precludes such Interpretation.
In demanding that the volume of the |
currency shall not be contracted, and !
that greenbacks shall be substituted for |
bank notes, the Democracy of Ohio |
have taken positions on which the |
National Democracy have not pro- |
nounced. Efforts are being made to |
induce dissenting Democrats to appeal |
from the State Convention to the polls, |
instead of to the National Convention. |
We trust these efforts viii prove una |
vailing. The National Convention is !
the highest tribunal, and we hope all |
differences will be submitted TO it.
The position of the Republicans in
Ohio is different. Thousands Of them |
are opposed to contraction and 20 the |
national bank system; but they cannot |
expect to impress themselves upon the |
policy of their party, in both these res
poets, and hence are likely to vote the
Democratic ticket.
To counteract these tendencies, a
large corruption fund has been raised.
And as the result in Ohio may depend /
on the purchaseable vote, 1t Is useless
to speculate. But, unless money turns
the scale, Ohio viii 60 Democratic.