The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-06-21
Mr.. BELMONT AND. THE DEMOCRACY.

THE LETTER OF Mr.. AUGUST BELMONT ON THE
THE HOUR OF TRIUMPH REVIEW OF THE
FINANCIAL QUESTION: PLEA FOR UNITY AND
HARMONIOUS ACTION BY THE DEMOCRATIC
PARTY.
New YORK, Nov. II, 1874
DEAR SIR:--I regret extremely that It OF my
power TO be with you this evening In order to partic
pate in the celebration Of the recent democratic vic
tories Tie peaceful revolution achieved by tho
electors Of our Republic against Executive and Con-
gressiona usurpation and msrule is event Of the
greatest Importance, the result OF which will
powerful and beneficial influence upon tho future
destinies of country.
That such q revolution could have been effected
against the whole strength of the with
its army OF ONCE holders and the lavish expendi-
ture OF money must I'LL with JOY and PRIDE the heart
OF every good citizen. II vndicatcs most triumphanty
the vitality Of republican institutions and proves con-
cluslveiy the blessings Of seli-governmcnt
In this hour OF triumph Il behooves bear in
mind that only by moderation, union and strict ad-
hcrence to the true principles OF democracy We
hope to earn the fruits OF our victory.
We have powerful and inscriptions enemy to
tend against who will not relinqush the federal
power held so long and with such disastrous results,
except after a renewed and desperate struggle.
The followers OF the administration know that their
defeat In 1879 will be their death knell rs
national political party, and between and
then all the immense resources at their com.
mana VIII be concentrated, IN order to re.
them Waterloo but we must follow 1t up by Sedan
If we mean to grasp tho power from their hands and
restore peace prosperity throughout the
vast extent Of our country
Even they already trying to the seeds OF
ences on the currency question which have uniortu
natey arisen between the democratic party Of
the East and q portion Of the Western democ-
racy IL Is Of most vital importance that we
should not assist their nefarous game ny premature
and bitter pocmcs on this question Let us bear IN
mind that those who differ from in opinion nan
cla matters our brethren in faith all other
vital political questions and that their erroneous
illusions the natural results OF vicious financial
system created and persisted in for the last twelve
years by our political opponents.
The financial panic of last year, followed by utter
prostraton OF trade and INDUSTRY has shown but 100
well that rredeemabie paper currency is not pana
against bankruptcy OF Individuals corporations and
States. When friends will calmly reflect this
when they will at this moment how with q
plethora OF money unparalleled IN the annals
of commercial history. prices OF every
description continuing to decline. when they viii
find that before have the and planter
manufacturer and mechanic, received poor return
Tor their labor, they cannot fail TO discover the
faliacy of their views without tho assistance
OF arguments Truth does not require
the aid Of her defenders; she Is sure TO prevail the
bitter lessons which are sil in store for between
and 1876 will settle the question between sound
and rreaeemablc currency before We can gain the
bity oil shaping the financial policy OF the government
onr duty Of the hour is 70 cultivate harmony and
and East North and South. We must, while
VIC adhere strictly 10 the democratic
principles bcqucahed TO US by Jefferson and
Jackson, treat with tolerance the honest opIn-.
ions OF those who differ from us, never for
getting that ARC all engaged in the
holy OF country, and that It with require our
united efforts In order bring back to every
hsvast Republic the blessings peace prosperity and
free DOM
II leaders and press will aid us by acting on
these principles we shall form homogeneous and ire.
sistble army when the great battle OF 1875 Is be
fruitful IN its blessings than tho you celc
brating tonight Yours very truly,
AUGUST BELMONT
JAMES SngvLIx, Esq. Chairman OF Committee Con-
stitution Club, Brooklyn.