The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1875-09-10
Gov. Hendricks Speech at Zanes-
Vile, Ohio. His Views 0n FL
nance.


The following is portion rel@ing
To finance of Gov. Hendricks speech ai
GAINESVILLE. on la-t Friday. IL viii be
read and heartily commended all over
the land:
Upon finance. what do youwant yous
vote to mean: DO vou wish il 10 be an
approval and Endorsement ofthe policy
of the republican party OF that subjcci
That policy ia found in fhr act of the
'l5ih OF last .ianurry. Gov Morton in
formed the peopIe OF Ohio that il wac
the result az consultation and romprom-
i.e. aud that every republican sen.
aior. save one. voted for II. as did all
the republicans i'm The House. excerpt a
few f'om the Eastern States No dem
orrat in the senate voted for il. aud
am not aware fl,at il received any dem
ocrats support in the House. In the
speech AZ Marion Mr. Senator Sherman
declared that he reported the measure.
advocated and voted for il. aud heartil,
defends aud approves il: that II VIZ : tho
result of the most careful drliberaiion
that IL deiiniirly declares public poll
rv. aud that II j. The fixed policy of the
Republican party "and no step hark
ward. Aud now. a. that net declares
the deliberate purpose aud fixed polio.
OF that party upon 4 most imrori VT
question. III should hc accurately auc
generally understood. The first section
provides for tie substitution of silver
coin for the fraciional currency. The
silver l. not ia the treasury and INNS, be-
purchased. The spocisi ,,i~patch TO The
Cincinnati Commercial OF The l4fh. lasi
month. say that the secretary of the
treasury will be Obliged 10 sol betwc, n
thirty and forty millions OF five per cert.
hords for that purpose. The direct cf-
feet - Ia increase our Interest bea rino
debt about forty millions. aud the annual
inieresI two millions: in other words.
" u tie conversion nf a domestic debt
which bear~ no interest into n foreign
debt bearing interest. The silver coin.
when 80 issued. wi iil not he legsl iel-
der beyond five Snllars. aud ifs derreci-
riion below gold viii I've nearly. " not
quite. A. great ~ that Of the currency
which il j. TO displarc. The second sec
iiou repeats The law which allows .
charge for coming bullion. aud j. prop
or. The third. AMI rrinrininy sr-iion.
removes legal Restrictions mn' limi,a-
iioms. SO az 30 allow free hankisg. Il
also provides iha, upon 'hc issue oi
bank bills To the hanks. The secretary
OF the treasury shall redeem legal tender
treasury notes 10 filc extent III eixhir
per crnp. cf tho bank bills 40 issued. nm
Gil the volume Of the legal tender iress.
ury nsfc- outstanding .haf1 lie rrdnced
Ia three hundred million dollars. The
effect Of that provision is 10 substitute
national bank paper for Ies,al tender
notes TO the extent of about eigbiy-two
million dollars OF the latter. Tie sec.
iiou then provides that ION and after
the first day of January. Anno Domini
eighteen hundred aud ~cvcniy-niue. The
secretary OF the treasury shall redeem
ia coin the United States legal tender
no;cs then outstanding. on their pre- en-
iaiion for rcdemption ut ike Office of t,c
assistant treasurer of the Jnifed States.
IN The city of New York. in sua,s of no.
less THAI finy dollars. Thus. hy The
process of redeupuun and sulisfiiuiion.
all the legal tender notes arc To- ~ ,lrs
from circulation, aud ti.c carrcncv %
the country j. 10 be coin and bank hii,-
la other words. il was iuieni - % gi.r
the national banks the entire Held. not
withstandIng the same congress in thr
month of June before. hai given The
country the assurance that tue ic-al ten
der circulai ion should remain ~ three
hundred and cishty-two millions. >uci
was the construction given Ia thc set ~
June. 1874. whilst il was pending in thr
Senate. have given yon tho language
of that provision OF The act requirin.
the secretary Of the treasury or the first
day Of January. 1879. aud thereafter. 10
redeem the legal tender notes then out
SANDING because il had been stated e.
the people Of Ohio that the hill pro-
vided that the grecubacks should not be
retired So as Ia leave less than three
hundred millions in circulation Froin
the language of the law YOU perceive
that all the legal teuder notes that are
not displaced 5y hank bill. are TO he re-
deemed aud taken out OF circulation.
DO You wish your vote to approve this
measure and fasten IL upon the country
I was called upon TO preside over the
convention OF Indiana hast
year. In my address 10 that body. upon
this subject. ] said: Our paper cur
rency consists of treasury notes. de-
clarcd by congress 20 be lawful money
aud national bank Eotcs. am not in
favor of the policy that proposes 10 re-
tire the treasury notes to make room
for an increase Of national banks and
their paper The treasury notes are the
cheaper currency to the peorle and COM
mand public confidence. They are not
irrcdccmablc For their value the, est
upcn tho pledge and conscience of the
..f..... -. tf..