The Portland daily press., 1875-07-27
"Hard Money!, Hemocracv.

According to the argus sthe Ohio rag
money bugbear has been completely exploded
by the speeches of Governor Allen and
George 81. Pendleton." This assertion is
cool enough to give truth-loving man the
chills in the middle of August. Let us look
at Governor Aliens speech. That loud
voiced orator said in his speech at Gallipolis
last Wednesday:
say, therefore-I don't know how many
have said it before me, and | don't care. for
when the truth comes fair an spat into m v
brain, will utter it if it bursts me- say to
you now, whether speak alone or not alone
the resumption OF specie payment by retro
tracts would be an outrage, an infamy and an
absolute impossibility short of revolution.
This same "hard-money'' Allen in this
same "hard-money' speech further says:
Suppose that instead of taking a bar of sill
yer, or bar of pig metal the Government of the
United States takes piece of paper called
greenback. and says that this shall pass for a
legal tender in the receipt and expenditure of
all Government dues and in all the transac-
tlons % OF the people. Suppose this Government
to be Government of good standing, of sound
credit, and responsible. for its paper. This
dollar, thus stamped, is to all intents and pur-
poses equivalent to silver dollar. when it has
been made such by the Government of the
United States.
Further on in the same address the great
advocate of hard-money says the Republican
leaders know that an attempt to resume
specie payments "would spread bankruptcy
and ruin throughout the entire land" In
the opinion of the argus these utferances
completely refute the assertion that Gov.
Allen is an advocate of rag-money.
Let US now listen to Mr.. George H. PEN
dleton, who calls himself, a hard-money man.
Mr.. Pendeton declared at Gallipolis last
Wednesday:
Contraction has been steadily going on. With
the decrease in the currency, there has been a
decrease in the prosperity and happiness of the
country until now we are confronted with a
condition of affairs which all feel too keenly
to make description necessary. To-day there
Is more property for sale on execution by the
snerlns OF, Ohio than ever ,efore. Gold and
paper stand to-day at a difference of IA per
cent; a year ago the difference was 10 per
cent. Republicans claim contraction as a rem
edy for these things. The Democratic party
points to middle path as the way to safety
Abandon this policy of contraction, stop tink-
ering with the currency, stop this effort at
forcing resumption, give stability for time,
give business moment to revive.
If the argus can see resumption and hard
money in these words it has more eyes than
the fabled monster from whom it takes its
name.
Let us listen to still another of these Dem
ocratic leaders, Mr.. Cary, candidate for
ACKNOWLEDGEMENTS of Ohio. Mr.. Cary
says:
Congress passed a law increasing, by very
small amount, the legal-tender circulation.
President Grant, true to his instincts, and to
carry out the behests Of coupon. clippers and
National bankers, interposed his Veto The
news went upon the lightning's wing to all the
countries OF Europe, and instantly the wires
were made not BY the CONGRATULATIONS of the
money rings of London, Frankfort, Paris, and
Vienna to the gold gamblers of State and Wall
streets. Grant had saved the nests of thieves
and given them new license to plunder this
great people! If the Democratic party does
not no get into power to arrest this villainy be-
fore the !st of July, 1879, would advise you to
put your house in order,f for wide spread misery,
disaster. and ruin are inevitable If you have
purchased farm or dwelling house, and owe
one third OF the purchase money, lose no time
IN pefsuadtng n the m9rtgagee to take the
Mechanics, miners, mill-men, laborers,
what advice can 1 give you? Nav God
have mercy upon you and your dependent fami-
lies. your and their destitution will defy de-
Scription.
Now this speech smacks as strongly of COM
munism; as any harangue delivered by
French demagogues on the banks of the
Seine. These Ohio politicians do not say in
words that property is theft but they favor
measures for the spoliation of property. To
the debtor who has borrowed paper money
worth 81 cents on the dollar, they promise an
imitation of currency which will enable him
to pay his debts at fifty cents on the dollar,
thus cheating his creditor out of third or
more of the sum due him. Confidently relying
upon the force of party discipline to keep
hard-money Democrats in the ranks these
leaders appeal for support to every adventur.
er in the country who sees chance for plum
der in disturbance of the currency.
If the evil could be confined to Ohio it
would not be so alarming. But let the Dem
ocrats carry Ohio and they will press their
financial policy upon their National Conven-
tion as they did in 1858. For evidence of
that we will take Senator Thurman, who
said last summer in speaking of the Maynard
cOmrrOmis0 bill.