, 1875-09-11

hnts.
THE PENNSYLVANIA DEMOCRATS.
The Pennsylvania Democratic Convention,
after two days fight, adopted platform on
the currency question almost identical with
TINT of the party in Ohio. Tho vote in COM
nittce on the resolutions was p 10 81, SHOW
ing how vitality tho contest was fought. AL
during tho two days the delegates wero DEL
uged with telegraphio appeals from Ohio,
inploring the Pennsylvania brethren not to
"1ay down" On the party in Oaio, md
warming them TINT, if tho Convention voted
down Intuition, it would destroy MI chances
of ALLEN in Ohio. These nppen1s had an
effect, md so tho Convention yielded, md
adopted most extraordinary platform.
But the pressure from Ohio was not tho
only cause producing the adoption of tho rag-
money platform. The Convention was n
creature in tho hands Of United States Semi
tor WALLACE, and WALLACE is but another
name for ToM Scorr. lie wns the Vice-Presi-
dent and acting g-manager of ScorTts wildcat
railway enterprise in Texas, for Which soorT
Inns applied to Congress for n subsidy in
bonds or Endorsements Ringing from fifty to
Que hundred millions Of dollars. The Demo-
crats having secured majority in the PENN
sylvania Legislature, scorr Ind his Vice
President elected to the United States Senate.
With s1MoN CAMERON md WALLACE, ScoTr
has two representatives in the Senate from
Pennsylvania. Mr.. Sco1r hrs on liH hands
great construction company. besides largo
number of unproductiyo railways which arc
heavily in debt and under protest for in
terest. He in, Of course, for imitation. He
wants ",noney not only to bo inflated but
cheap The ehenper tho bottsr. The
Convention was bossed by scorr's Lieutenant.
and pressed By tho hard-driven party in Ohio,
aud undor these two forces produced tho anti-
Democratic rag-monoy platform.
The platform begins with an expression Of
unfaltering devotion to the principles onun-
cated by Thomas JEFFERSON, among which
arc rccited, 81 Honest payment OF our just
dcbts and tho sacred preservation Of the
public faith" and then declares in favor of
m unlimited issue OF irredeemable Legal
tender notes as tho exclusive paper currency
Of the nation, without any provision for their
payment or redemption, not even providing
that they may bo funded into KK11nr's s. G5
scrip bonds. They are to bs unlimited and
irredeemah1e, and at the same time a legal
tender, which is rather strange way OF vim
dicating JEFFEtsoN's fundamental principle,
"Tho honest paymontof debta and tho sacred
preservation Of the public faith"
Tho Convention completely verified sena~
tor Mon1oN's explanation Of tho Democratic
policy in his Ohio speech, that tho party
knew very well that the Courts will declare
any new issue Of 1cgal-tender notes to ho
utterly void; that tho National Banks being
abolished and their notes retired, aud lega1-
tenders not authorized in excesa OF the
s400, 900, ,000 there must Of necessity be
return to tho old System OF State banka,-
tho wildcat, bluc-pup currency, each State
having Its own system. aud no two
States having currency Of equal
value. Tho Convention therefore declared
In favor of tho abolition Of the National
Danks,-uot only the repeal Of authority to
issuo bank notes, but their abolition for all
puspoaea. It further demanded the inl1ncdi-
ate issue Of legal-tender notes equal in
amount to that Of the bunk notes, aud to such
| further extent aa the "wants OF trado may
require, leaving tho restoration Of lega1-ten-
dess into par in gola 10 10 brought about by
promoting tho industries Of the people,
Promosing the industries Of the people Is q
phrase having peculiar meaning In Ponnsyl-
Sanla. 1t means an increase Of the tariff,
and Hnbsl'lizng railroad companies by loans
from tho National Treasury either In money
or oonds. How an increase Of taxes on i'm.
rortcu gooda ard subsidies to railroads can
bring irredcemable and watered paper cur
rency to par In gold, is Quo Of those problems
in political economy which no ono outside Of
Pennsylvania can explain. 3Ir. KEL1xr has
long since got it through his head that vater.
ing tic greenpacSs m'iht rim them down to
very low value uniess there DO some meaua
| by which they can bo condensed, 20 he nro.
poses TINT they may a. any si1ne be
funded in bond bearing 8.G5 per cent
| iute.est. 1n bis speech 1t Cincinnati, q fow
nights ago, he went further, and was willing
that the IS interest should be payable in
gold THAT would furnish Bome escape, and
would tend to keep up tho value Of tho cur
rcnoy to TINT Of a.65 per cent bond But
tbs Pennsylvania Democracy discard even
that mild fokno redemption. They propose
al unlimited issue Of currency without an,
form Of redemption whatever.
There is not Democrat In public life IL
Pennsylvania who is not on record ~ op
posing tbs Legl-Tendsr act There Is not i
Democratic lawyer In the United States, mol
= lawyer Of any political persuasion, who. In
the light Of the decisions Of tue Supreme
0onrf. IL mt fp1v auara that a nam fesna ri