The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-09-28
The Exact Ground.

Judge PERsHING, the Democratic nominee
for Governor of Pennsylvania, in bis letter &C.
cepting the nomination uhe purport of which
was given by telegram 10 our paper Of yes
terday morningl takes exactly the just and
wise position on the currency question. He
is against inf atom" Ia its accepted sense,
and he correctly asserts that iuFl atom" is
not demanded by the Democratic platform
of Pennsylvania. He concurs with that
platform 10 opposing any further contrac-
81 tion of the currency at this time of foam
"cial distress, when our workshops. and
"mils, and manufactures are closed, and
thousands of men who are willing TO work
care out of employment"
This is TO the point, and is so entirely wise
and consideraie that we cannot understand
how anybody can take exception TO it. But
the next sentence in The letter is even better.
The Judge says:
ITO expand the volume of the currency
when the people are mourning debts and TO
rapidly coutractlt WIDEN the time for pay ment
has come will prove ruinous to every busi.
ness enterprise. The attempt to force the
country TO resumption Of specie payments
under the provisions Of the act passed by the
last Congress will only intensity the distress
which now every where PREVAILS
This is the truth. Aud yet the money
power OF the country would force upon the
nltlona resumption which wou!i fearfully
diminish the value Of all sorts of property
and force it to sale, when they would buy it
at a sacrifice with money raised in value.
This would bring widespread ruin, and
would assuredy drive the country TO re-
newed suspension. Those who atteklpt to
avoid SO great IN evil ian evil which would
ruin the people and make the money-shavcrs
and gamblers reher) are el1leed By tie presses
supporting the gs1o1ney. power inflationists. .
This is oplsa "tricS'' for political efr.c
1t 1sseeeis no reason for the term so applied.
GRANT is understood 10 have gone over to
the money power, and is determined 10 veto
any bill repeating the resumption act. TIE
issue, then, is made up. .Ju ige PEBallA.I
briefly states the cause of the people. On
the other side we have the morey.pow
headed by the President. That side stands
for positive resumption. Nothing else will
satisfy them. We are to 60 straight forward
and resume by contraction" and that is
exactly what We supposed the Admuistra.l
ton TO be opposed to. Some two months
since the Administration organ at Washing.
ton contained well. written and elaborate;
article on the currency question, which de
clared positively that there must beA no re-
he
authoritative.
But there is no telling what summer at
Long Branch hob-notbing and smoki NJ ei.
gars with millionaires could do with Prssi-
dent GRANT. 1t has bad sufficient influence
over him to make him an unconditional re.
sumption" man.
The money.power of the land is great, but
we still believe the people to be greater. We
are with them and for them. They de not
ask unreasonable things. They are for the
money they have, for which they are all re.
sponsible, and they are for resumption at the
earliest moment when the country is ready
for 1t. They know that to force resumption
by contraction will bring ruin for them and
~IAh2oaoe S@'uo w iuoue9 'uedieIs, duu lucy
therefore desire the repeal Of the resump-
tion.law.
Were that law repealed, resumption might
come sooner than under the attempt to force
1t BY contraction. Confidence and trust
must be restored before resumption can take
place, and they will not revive under the
menace Of the resumption act and under the
distress of contraction.
1t is emphatically war between the PEG.
pie and the money-power. It is indeed |
war between capital and labor, in which
capital Is the aggressor, and 1t will be beaten.