The New York herald., 1876-09-27

Armstrong, of Clinton county, for Lieutenant Gov
on motion the nomination was made BY accamat alton,
with much applause.
Mr. Armstrong was lcalled TO the platform, and ad-
dressed the Convention, accepting the nomination.
The following nominations were then made
Canal Commissioner-J. Cuddeback, OF Orange
county.
Judge Of Appeals-Marcus NJ Dixon, OF Rockiand
county.
STATE Prison Iaspector-J. ". Crump. OF New York
Messrs. Crump and Cuddcback then addressed the
Convention accepting the nominations, after which
motion for recess until seven O'Clock this evening
was carried.
MR. PETER coorsn's ADDRESS.
GENTLEMEN: have come to counsel with you In re-
laion tho that should be adopted 70 restore
aSsPn saepins eouD.ry. ' ~ your opinion, tho
present financial policy Of our Government,
my advice to you is, TO vote for Governor Tilden
or Governor Hayes To my mind, they are both
pledged to continue national policy that has shrunk
the value OF real estate IN our country To less than
half tho amount that tho same property would
have brought three years ago, while the debts
ernment currency remain the same SO that the
man who bought house for $40, 900, and has paid
from him II be be unable to pay his mortgage oi
10000 and be must be fortunate II he have not
bona still hanging over him Tor balance which MS
house Will not bring IN the market nj sherih's
sale This policy OF contracting the currency IRON
SOS per capita ut the close OF the war TO less than $5
the present, time has paralyzcd the industries OF
country, and has brought wretchedncss and ruin to
the homes OF millions OF the American people.
II has been 10 mo A matter OF profound regret
that both candidates OF the two great parties OF this
country have pledged themselves IN their letters OF
acceptance take steps backward IN relation 10 that
national policy which has taken from the people their
currency-thc very tools OF their rndc-by connu-
of the and the uDseemly haste OF turn
ng our domestic debt into gold bonded debt to bc
paid abroad lind II extremely difficult to frame III
apology Tor act OF government intended 10 shrink
the currency Of the country, which has resulted in
such tremendous losses TO the whole debtor class
and such suffering and degradation among our
aborng classes II was SIMPLY an act OF
wholesale spoation to conscaie tho property Of the
debtor for the benefit OF those who held mort
cages his property and TO ruin and disgrace every
man who lived by the labor OF his hands by taking away
his work. Our government at the close OF the war,
should have recognized the fact that every dollar that
paid out during the war Tor value received In the
public money, and the peoples property AS
enectunlly though II had been paid out In gold and
silver The government had right to interfere with
of the pubic service The whole amount of cir
cuation OF every KIND paid out by The gov.
the people should have been made legal tender
and then remained through oil coming time
the permanent currency OF the country, never
to be increased or diminished only as per capita, with
the increase OF the inhabitants oil our country Such
a currency made receivable Tor all forms OF duties and
debts aud interconvertble with government bonds a.
the Will OF the holder and at equitable Of in
terest, would have been resource for all
the industries and enterprises OF this great country
sufficient compensate for all the losses occasioned By
the war of the rebellion. This would have been cur
rency made as the embodied wealth OF the
domestic commerce and trade; II would stimulate
all productions and manufactures SO as
TO give US the true balances 10 our foreign
commerce, and then our currency would be
equal in value to that OF any other nation, be
1t gold, silver or paper And moro than all, 1t would
give such stability to finances would for
from those monetary crises and arrangements IN
business and stoppage of industry that result from
drain OF specie abroad when specie paper that simply
represents specie is the only legal tender.
Ny views upon the currency J. have heretofore
briefly expressed follows:-"The worth ex-
han ia n
products OF human labor, such as wheat or cot
ton The exchangeabe value of anything depends on
Its convcrtibty INTO something else that has value
at the option Of the individual This rule applies
TO paper money as to anything else But how shall
government give an exchangeable value to paper
currencyY Can It be done by standard which Is be-
yond its control aud which naturally nuctuates, while
the sign OF exchange Indicated oy the paper the
This s the unsound theory which possesses the
minds OF people and OF our politicians. We must
loose from this unreasonable theory or We shall be
subject for all time to those periodic disturbances OF
our currency which bring such widespread rum and
distress to our commercial industries, and work, on
the part OF the government, positive and cruel In
Justice. The remedy seems to 10 be vel y plain.
first-we must put this whole power OF coming
money or issuing currency as Thomas Jefferson says,
''where, by the constitution, 1t properly belongs''-
entirely into the hands Of our government That
government Is Republic. hence it is under the con-
trol OF the people. Corporations ana States have
hitherto. 10 some form other, divided this power
with the government Hence come the cmbarrass-
But must trust our government with this
whole function OF providing the standards and moas
of exchange we trust II with the weights and
measures OF trude. So far from putting the people
In the power of our government and at the caprice
OF parties in power contend will bring the govern
ment more under control OF the people, and give a
check TO mere party rule. For the moro stake the
people have the wisdom and honesty of the
M nts the wntchul and firm they will be IN Its
control
lSecondy-we must require the government to make
this currency, at all times and at the option OF the in
dividual convertible. But tho currency must be con-
vertible into something which the government has
entire control, and to which II can give definite
and permanent value THIS is its own interest bearing
bonds These are, IN fact, mortgage upon the
embodied wealth OF the whole country Tue reality OF
their value sound and as permanent as the gov
ernment ITSELF and the degree of their value can be
determined exactly by tho rate Of interest the govern
ment may think proper to nx. AS have
said before, the time has como when the
claims OF common humanity and all that can
in demand for act Of common justice now due 10
the American people who have saved country from
ruin and WILL trust forever protect IT, The consti-
tuition has made 1t the first and most important duty
OF Congress ITO establish justice, insure domestic tran
quil!ity, provide or the common defence, promote the
selves and our posterity." To my personal friends
need say that this sacrifice OF and rest Is iko
the surrender of what remnant OF life may have But
the country at large will say that am willing to
stand In the place where | have been put by
tho judgment OF an intelligent and honest
with them, and try before the whole people this cause
of the peoples money and the true financial policy
Of this Government PETER COOPER
SPEAKERS
r. NJ. Grnen, of Albany W. Y. Groom, OF New
York; Mr.. Throop, Of New Haven; Mr.. Armstrong, o
Clinton, and others addressed the meeting
NONSJNAnCn NO CnNnprCc