The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-07-06
bank notes, as proposed in the Repub-
lican Resumption act and setting forth.

lCa0 heSumptlOu act anu SetlluS AOItAs | !
.'fhat the true road to specie payments is
through economical administration OF the gov
reduced taxation, restored prosper
ity, developed resources, and increased ex-
portation Of the products Of our inexhaustible ,
fields, forests and mines."
And now the National Democratic
resolves
AS such hindrance we denounce the re-
sumption clause of the act of 1876, and we
HERE DEMAND IT'S REPEAL.
And this is the model by which they
propose to reach resumption
We believe such system, well devised and
above all entrusted to competent hands for ex-
ecution, CREATING AT No TIME AN ART1.
FICIAL SCARCITY OF CURRENCY, and at
no time alarming the public mind into with
drawal Of that vaster machinery of credit, by
which 95 Der cent. of all the businessi trans.
actions are performed; system open, public,
and inspiring general confidence would, from |
the day of its adoption, bring healing on its
wings to all our harassed industries, manufac-
turers and mechanical arts, restore employ
ment to labor, and renew in all its national
sources the prosperity of the people.
This is substantially the doctrine set
forth in our resolutions, which were
voted dowu, two to one, by the Demo-
|
doctrine, in national convention in 1876,
is proof, not only that the world moves,
but that the Democracy are capable ofa
degree OF progress slow indeed but
sure.
We grieve to say however that while
demanding the repeal of the Resumption
act they do it on the ground that it will
not bring specie payments quick enough.
The issue was made by General Ewing
Of Ohio, who offered the following
amendment
General Tom Ewing, Of Ohio-At the re-
quest of several members Of the committee on
resolutions, present . minority report as to
one phrase OF the platform. The undersigned
members Of the committee recommend that the
| following clause in the resolutions reported by
| the committee be stricken out: ''As sucn
hindrance we den0uuce the resumption clause
| Of the act Of 1876, and we here demand its re-
| peal;" [Cheers] and they recommend there
he snbstitused Tor that clause the following:
"The law for the resumption Of specie pay
ments on the first Of january, 1879, having
been enacted by the republican party, with
out leliberation in congTen0r discussion be-
fore the people, and being both insHectual to
secure its object and higly injurious to the
business of the country, ought to be forthwith
repealed" [Cheers.] signed by Thos. Ewing,
Ohio; D. w. Voorhees,. Indiana; John G.
Brown, Tennessee, Malcolm Hay. Pennsyl-
vania; d. H. Trvm6le, Iowa; VIM. John Davis,
! West Virginia; T. L. Davis, Kansas; G. II.
Hardin. Missouri. therefore move that the
clause referred to in the resolutions reported
: to he stricken out, and the resolution / have
read b. inserted in its place.
Upon this General Ewing said:-
, Mr.. Ewing-I desire to briefly state the OBJ
| iectlons to the clause which we propose u
have stricken out. 1t denouHces one CLAUSE
. only Of the specie resumption act. Wha
clause is that! The clause liking the time fo
resumption Of specie payment, having ths
7 implication approved. But why does it Oh
iecf to the ciausel Becaase 1t Is destroyins
the business ofthe country in connection witt
the balance OF the lAwl Not at all; but merely
: because it is . hindrance to specie payment
!. the fair inferencs ssing-at any rate If not |
fair one, an inference that will surely b
drawn-lhat the objection OF the nationa
democratic party to the specie resumption Law
Is confined only to the date for resumption anf
the objection TO that Is that the date Is hin
drance to resumption. and the construction
will BE- given, and with some degree Of plaus
ibility, At least, thxe the democratic party wan
resumption earlier than the date fixed. LAP
plause. object to that clause in the resOlu
ton because Ii has the efsct-I will not 81,
that il was intended4--to palter with the sub
ject in double sense. keeping the promise :
the ear TO break it to the hope. ! said that b
inference the balance Of the law is approved
and it is fair inference, il not . necessary one
j and what does the committee say about III
commits itself to the issuing Of gold bonds {
! take up the fractional currency. 1t commits y
= to the reduction Of legal tenders money b
:. having hank paper take its place, thus in
!. creasing the power OF now already danger0u
: monopoiy---a monopoly that is thorough
1 49, a. ~ = Ia -
II country. [Applause.l It commits u to th
> pe1petuation Of the national bank system, Il
n If we have no objection to that law except II
= date Of resumption, We approve then the prt
e visions for the raising mp Of 2,0rO or 3,0
q great monopoiies to control the currency {
. the country, in addition 70 the 2, 100 we alread
rs have. lApplause. II lraves the secretary
q the treasury with the p1wer---l will not state
!, positively---but perhaps the power TO izsr
= gold interest bends Of the United States, to bu
mp gotd and lock it Immediately In the trea.
ury, waiting the day OF resumption that ma
be fixed policy which the democrats of Il
west, am sure, almost unanimously oppos
:. IApplanse. What i the law which We thr
q endorse in our resolutions by implication a]
y prove. Who enacted il. DID it havea Deyns
, cratic votess Not one in the senate or hoEs
% lAppl1use.l 1t il purely > republican measur
= and the sum Of the financial viilanies Of Il
% republican party. lCnes 0f slime, "tine,
"Go on"
I'll Tothis Gov. Dorsheimer, of New Yo7l
: Ti,dens representative in the CONVEX
= tion said -
- Mr. Chsirman and gentlemen Of the CONVEX
S; ton: do NOT propose 70 speak upon th
! matt1 u length. Five minutes IL quite tin
= = enough for me propose here % make
3 Tremendous chsering-1 By that We sand
Z. or - fsgf rCheers1 lfyon rnuf sr,ft ,,nry,,op