The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1876-07-21

NO president. NHhteNtT HI personal
views, dare antagonize, on mere ques-
ton Of expediency. the representative
of the party which elects him. our
government is ruled by parties, and not
by man. In fact, though the presi-
the senate has legislative functions
nearly coordinate with the house. the
body which comes fresh from the people
substantially controls legislation on all
questions attracting public attention.
such has been the tendency IN all Tree
governments. aid is an increasing ten
dency in ours.
THE CANDIDATES.
Gov. Hayes has declared has deter
mination to oppose the repeal or modiii-
cation OF the resumption law. unless an
act forcing resumption at as early day
lie substituted. Gov. Iilden has not
committed himself to this Republican de-
vice for robbing the many to aggrandze
the few. The Republican candidate Tor
vice-president has. as "A member OF con-
gress. voted steadily against lis repeal or
modification, while Gov. Hendricks
God bless his true and noble heart -
stood by us in Ohio last fall in demand
ing that it be eXpunged from the statute
book. Looking at
THE PLATFORMS
we find the Republicans silent on that
law. while the Democrats declare for the
repeal of "the resumption clause BY
common consent this is held to mean the
repeal OF the whole clause authorizing
and requiring the secretary of the treas
ury 10 sell bonds or use revenues to re.
deem the legal-tcnder notes. GOV. Hen
bricks. in his speech at indianapolis two
days after the convention. happily char
acterized tina, part of the platform as a
demand tor the repeal OF the only pro-
vision of the law which causes contrac-
ton and prostrates the industries of the
country. So much for the candidates and
platforms. Now what are
THE ACTS Op TIRE RESPECTIVE PARTIES IN
CONGRESS
on the resumption law: 1t was born in
Republican congressional caucus and
rushed through congress under the gag.
with every Democratic vote in both
houses againstif. and almost every Re-
publican vote In its favor. On five or
six different occasions vote has been
had in the house on the repeal of the
whole law or Of that clause authorizing
a sale of bonds and purchase of gold with
which to redeem greenbacks. and each
time about four-fitths of the Democrats
have voted for repeal and five-siXth OF
the Republicans against it, An analysis
of the largest vote which was given on
Holman's resolution, shows one hun
dred Democrats for repeal, and thirty
seven against. and Thirteen Republicans
for repeal and seventy-fiye against. The
repeal has only been prevented by the
fact that the committee on banking and
currency was packed by the speaker
against the sentiment Of the Overwhelm-
ing majority OF the party in the house.
In the absence of a report from that COM
mittee, n suspension of the rules by
two-thirds vote was required. so that
about one-fourth OF the Democrats. added
TO the Republicans. have been able to
balk the will OF the party, as expressed
by three-fourths of Its representatives,
forming clear majority Of all the votes
cast on the proposition.
On the question of restoring the old
standard silver dollar, and making it
again legal tender for all debts, public
and private. United States bonds ana
greenbacks included, vote was had in
the house on the 18th of last month.
when eighty-three Democrats voted for
the proposition and only eighteen against
it, while but twenty-fOur Republicans
voted for 3 AID thirty-fve against it.
Thue ihrpc iOurths OF the Democrats
in the house arr resOlutely struggling for
the repeal pl these most pernicious laws. |
and are only baked of success by an I'M
Just organization OF the committee, and
by mere fraction OF the party cooper
ating with the Republicans. Assuming
that the Democrats on both sides repre-
sent the opinions Of their respective
party constituents. three fourths OF the
Democratic party of the United States
favor the repeal of these laws, and five
sixths Of the Republican party oppose it.
THE TRUE SITUATION.
But let US go further and look behind
these laws at the fundamental differences
Of policy involved in their enforcement
or repeal. There is no question OF hard
money or soft money. Both sides equally
know that gold will not. alter resump-
ton, be current among the people, but
will be locked up in the treasury or the
banks, and the money actually current
will De either government paper or bank
paper. Both sides want the paper
money to be at par with coin. IL is, in
fact, now precisely at par with the ave-
rage OF the two standards, being worth
ten per cent. more than the standard sill
yer dollar and ten per cent. less than
gold. Neither party seeks reputation
or imitation. The conflict in policy
involved in the struggle for the repeal
of those laws are:
First. One policy is designed to in
and give them complete and perpetual
control OF the issue of currency and con-
sequent ACKNOWLEDGMENT in wealth and
political power. The other is intended
TO deprive the banks of the power, and
have the general government alone issue
all the currency.
Second. One policy is designed to in
crease the burden of the national debt by
bic 10 the bondhOlders. The other to
tighten the burden as far as possible con-
sistent with national honor.
Third. One policy intends, by forced
contraction, to coniiscate the property Of
debtors and of producers and eXchangers
ofvalues generally, and build on their
wrecked fortunes powerful money aris-
tocracy. The other intends 10 reach re-
sumption in gold or silver without saeri-
hclng the fortunes or business Of the
people.
The fact that there is some division in
both parties indicates that these issues
are so potent that in certain States and
districts both parties bow to the doIai-
naHt interest, but that does not alter the
fact that In substance and effect the Re
publican party represents the money
power and the Democratic party the
people. This is not only true now, but
has been true throughout the manage
ment OF the war debt and currency.
Though the Democratic party opposed
the creation OF legal-tenders, yet il has
steadily sustained that currency since
their establishment. On the bill Of 1869,