New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-07-22
GENERAL POLITICAL NEWS.
OPENING OF THE CAMPAIGN IN OHIO.

1oN-PAPER FOR MONEY LAUDED BY BOTH
SHALL CURRENCY BE GOVERNED BY TRADE, OR
TRADE BY CURRENCY
lBY TELEGRAPH TO THE TRIBCsE.l
GALLIPoLIs, July 21.-Tbe Democratic meeting at
this place to-day the formal opening Of the cam
paign in Ohio. The town contains some 5000 in
habitants Though not accessible by rail- and de-
pendent entirely river facilities for its eonnec-
ton with the outer world it is quite lively business
place, and shown to-day, decidedly good one for
holding Democratic meeting. There about
10000 people on the ground. Only about onehalf
of the number could gain adnittance to the tent
where the speeches delivered, so large an at
tendance not having been expected. The Hon. j. L.
Vance, Representatives in Congress from the Eleventh
District presided. He introduced Gov. Allen as the
first speaker.
The Governor devoted the main portion of his re-
marks to the currency question.
The Republican party he said responsible FOR the
that paty does not SW become Republicans to cai t
rag money" or q cali for contraction They are clam
piece metal does not become money until the public
authority has stamped il money and decled To DC
money So the Government OF the United states
being a Government in good standing and sound
credit might just "a We'll stamp piece OF paper Tor
equivalent TO silver dollar If specie payments are
CURED by law the specie will not be used to any extent
that there will money except paper money so
long AS the Government has n dollar in ercenbacks or
any other kind of backs in circulation
II specie payments good thing, the Republicans
are responsible for their posponement They put hem
of, because they knew Presidential election wOnd
have to occur before four years, and they knew II tcy
undertook TO enforce specie PAYMENTS before mat eec
people They knew that attempt To enforce mat act
would spread bankruptcy and rum throughout the land
There is great deal Of money locked up ana not Dor
roWed and put into use because have the threat OF
the Specie Payment act right before them, and VIII
not borrow money, worth only 80 cents on the dollar
with The prospect OF having ii III year or tWo
at the rate of 100 cents the dollar That woud have
the effect to break down every business man Ill the c0
try who borrOws money. the resumption OF specie pay
ens by retrospective act that would embrace all ex
listing would he outrage, infamy and an
absolute iInposslbiiity short OF "A revolution
the Hon. Geo II. Pendeton followed Gov. Allen.
He first spoke of the interpretations of the platform
of the Ohio Democracy that have been put upon 1t
recklessy, and by persons who have not fairly di-
ges.d and considered the subject.
IL has been interpreted he said, IN irrcdccm
able currency, and infinite imitation aud repuiation Mr.
Pendct0n denounced this Interpretation rs false and III
consistent with the fairness with which political oppO
nents accustomed TO each other. The platform
OF the ONO Democracy means a sound currency,
sufficient currency a currency convertible at par and
ieeable at par In every article Of utility necessity,
luxury desire whether gold food clothing debts
or taxes; and suicen the necessities of trade
and o stimulate the efforts OF Industry and invention
sufficient currency is the object of the Legislation Of the
civilized world, sufficient according the demands and
necessities Of trade Every issue of government paper
whether legal tender or not, every limited banking
OF currency, according the judgment OF the Govern
men'. Every free banking system Is an effort To FURNISH
II sufficient currency according 70 the Judgment of trade
itself The foundation OF free banking Is that the
greater less issue of notes shall depend upon the
question whether the issue Of notes Is profit
able to the bankers. If You will not, said Mr.. Pen
dcton have a currency sufficient according 10 the laws
trade by what will you limit the amount OF
currency Shall 1t be greater than the wants OF radci
Shall IL be less than the wants of tradc II il shall he
neither greater than TIE wants Of trade nor less than the
wants OF radc then shall II he reyersion OF the Demo
demand M the ONO platform, nd shall ouryolume
of trade be regulated by the wants OF cur
rency! Mr. Pendeton discussed these propositions
1T length, AMI closed by referring 10 the present Demo
cratic Administration IN Ohio lie showed mat the eN-
p ndres have been largely diminished That levy taxa
ton has been largely diminished ana tiat Gov Allen
has shown a degree Of lbcriity, in appointing Rcpub
lc.Is the administration OF the pubic charitable III
silulons OF the state, greater than lad ever prevailed
before.
Tie last speaker was the Hon. II. s. Walker of
West Virginia, who spoke at considerable length.
All the speakers received fair share of applause
and the Democratic managers express themselves
satisfied that the affair has been n success.
Mr.. Pcndcton denied that the Democrats favor de-
precaied currency. He Thought he interpreted tue
opinion of the parry and the platform when he declared
that they in favor OF con as the basis OF currency
that paper currency should be convertible into coin at
as speedily the interest of labor and business Will per-
NIT He said they would b. glad to return immediately
il Wero POSSIBLE The Denocrtic party now
never has been in favor OF reputation III any form We
do believe II Is highest duty To fulfill all our
country's obligations according TO the spirit and
letter Of our promise. We are mol now, ana
ng and uctuating according 10 the within of parties or
the interests Of bankcas or whhs Of secule9r but one
sufficient Tor the easy, active econOmca and profitable
interchange Of commodities, ana as nAeu ana
stable a. the nature OF the case VIII allow
and 50 long must have a government
paper currency We prefer gr"cnDichs wien are sound
and cheap ana good TO national bank notes which at ne
outset the people six per cent and are at lst only
rcGetunablc in gTcclDtcks a.,
coin basis hut the supcrsrictlrc OF paper IL
larger the foundation ol com ANA tit as the super
structure grows higher II grows wider anu iaiscr'
L.. MID mt
OTIS knls OF t Gurien "ya,,i "' ne nrompIv frnshcd
lie repeated that he is n hatti-nOney man
that return 10 specie payments should oe
kept steadily in view IN Hesitation ana action and tll
sucn return with the true interests OF labor ANA business
and justice 10 the debtor Resumption cehuot De forced
n must be the proper Ouigfowih al surrounding
healthy condition, or u WIN De netner o'hei ',.,
nor re inn cca Msn ae believing the
the law unconstitutional and the policy uhwlse rs the
and trade he would all good he could ana III It.
lie would not abandon specie payments, Dnt he would
no, ioSn ~ All b,sncS, and Inc ruin OF the debtor
The Democrats established the sub-Ircasury system,
and tbn government In 1901 paid nothing bu, gold ami
siV,r Republican Congress passed the BOnd act, the
Legal Tender act and tie National Bank act Cola ana
al rrsd 70 c cillate and in -6J various issues
of paper money had reached an enormous sum Iaeh
commenced the Republican ~ steIn oi hlahc' cohrac
thr currency and If ncct ssOry this end incrcdst
The I,.sl-iyiI DEBT. Contraction has been steadily
roug Oh. With the decrease ia the currency, theIe LAS
,., decr,;s. IN the prosperity and happiness of the
pO.i oa", ,r a., rufroif,,i vitl a condition OF
affairs which all feel kcon.y 10 make description
necessary To-day there Is mole property Tor SAFE Un
.vecu, i'm by ihe sAelifts OF OniU than ever
brore Gold and paper stand to-day al difference OF
If Der cent ago tue dn renee was 10 PEI cent
.iunli,aus claim contraction u remedy for thtso
fhiip, IN, Democratic party points To middle pain as
tbc way to safety Abandon TINS policy of cOhtiae-
Inn sion tiukerng Win the currency, stop this
en,, IA forcing resumption give stability fg time,
,1ve business moment 81 revive promote industry ana
55roncon stimulate enterprise by the prospect OF gain
inhnr more and spend less. The great want or the
country il an entire freedom TOR labor, IA removal
nj
fair prices steady markets. and ready sales are aids, and
10 secure "A sufficient ami sound currency ana low
interest are md scnsabc, and II to these ID added low
taxes rgid economy simplicity or government, anu
purity OF administration, tGo movement toward rcsuhp-