The weekly Oskaloosa herald. [volume] (Oskaloosa, Iowa) 1855-1885, 1876-10-19

| party DIS 10 the mOue ana meCn0Q OF re
sumption, and decided opposition from
Democratic Senators to everything pro
posed to the thing itself.
BORROWED FINANCIAL IDEAS
Gov. Tilden in his letter of acceptance
recommends two plans in aid of resump
tion-one to gradually accumulate coin in
the Treasury, and thus strengthen and
enlarge a reserve for resumption; and
the other to either pay or fund into bonds
such surplus greenbacks as the wants OF
business may need to keep in use at par
with coin. We have proposed since 1870
to adopt, both plans, and so has Gen.
Grant and Gen. Bristow, and the great
body of the Republican party, and have
been met by the opposition and denunci-
alton Of the Democratic party, especially
here in Ohio, where Gov Allen, Gen. Ew-
ing, Gen. Cary, and all the rest have fair
ly torn passions into rags in denouncing
''hoarding gold" and contracting green
backs" And now, forsooth, these same
gentlemen are hurrahing for Tilden
and the very measures we proposed, and
passing judgments against us for hinder
ing resumption.
So it has been, fellow citizens, on every
question of principle or policy for sixteen
years with the Democratic party.
But, Gov. Tilden goes one step further
than we have gone. He proposes to pay
rate OF interest on greenbaCks to make
them desirable as an investment, and thus
retire the whole body of them from circu-
lation, and to continue the banking sys-
TEN, which he exaggerates, and give it the
entire circulation. Exit greenbacks, issue
banknotes says Gov. Tilden. But last
year it was, away with the banks; more
greenbacks." How can we meet such ad-
versaries? What honor or consistency is
there in such political jugglery?
HONEST PAYMENT OF INDEBTEDNESS.
But they say that the Republican par
ty wasted our resources, and exhausted
our surplus income during these eleven
years. Well, know we used the surplus
income in paying off vast sums of floating
war claims and debts, as we'll as the in
terest and also the sum of $500, 1852, ,sO2.-
SO on the principal Of the bonded debt. l
had regarded this as a matter Of pride, and
not matter of reproach. They say we
have annually enacted fresh hindrances to
resumption. | do not know what they
mean by this. [ thought [ had annually
tried to get some measure Of resumption,
and annually failed for want of votes, but
| am not aware of the passage of acts to
hinder resumption. But the meanest and
worst clause of this demagogical resolu-
ton is the last: GAS such a hindrance we
denOunce the resumption clause of the
act of 1875, and we hereby demand its
repeal" 1t is not the resumption act
they denounce-that is approved-but
the clause promising to redeem on
the first day of JANUARY, 1879; and that,
not because it is wrong to resume then
but that our promise to resume then is a
"hindrance" to resumption sooner. 1t can
not be "hindrance" unless we ought to
resume sooner. And so all the Demo
cratic opposition to the resumption act is
that we did not resume sooner. We
hindered or delayed resumption. And
upon this plank Governor Allen and Gen.
Ewing are to march to victory, and the
Republican party, which last year was
tried before the people of Ohio because
we thought it right to keep a steady step
towards resumption, are now to be tried
by the Democratic party of the United
States for devising "hindrance" e"-many
'hindrances," an annual hindranee" to
resumption. Thereupon they solemnly
demand tnat the special "hindrance," the
fixing day so remote as January l, 1879,
shall be repealed so that we may resume
sooner.
PROMISES, BUT NO PERFORMANCE.
And now come Tilden and Hendricks
with their letters of acceptance, after
much tribulation and delay, and demand
the repeal of the date of resumption for
opposite reasons. They are at opposite
ends of the saddle-bags riding mule.
Gov. Hendricks wrote to his friends in
the House of Representatives that re,
peal of the resumption clause, ETC., in al
most any form, will elect the State ticket
and carry the indianapolis district
Gov. Tilden writes that the same clause
is a hindrance to resumption, and advises
that gold be boarded, that greenbacks be
paid or funded, converted into an invest,
ment in order to secure resumption, and
thus "heads win, tails you lose," after
long incubation and much wine drinking
go before the people on the same ticket
as candidates of the Democratic party
for President and Vice President of the
United States. And the Democratic
House of Representatives, after being in
session eight months, after these letters
are received, in haste, under the spur oi
Governor Hendricks promise as to th'
election in Indiana, passes a bill, not t.
repeal the Resumption act, but singl,
clause fixing date without any substi
tute whatever. They dare not propos,
either plan suggested by Governor Tilden
but with opposite constructions of wha
they have done they will seek to pervert
mislead and deceive you. In New Yorl
they will talk about resuming and Gov
ernor Tilden's plan of resuming. Ii
Ohio and Indiana they will say they re
pealed. so far as they could, the Resump
ton Act, and promise more greenback.
Fellow citizens, if there is anythin,
which ought to settle the fate of the Dem
ocratic party with quiet, sensible men
who, seeking no office or favor, wish to d.
what is right, it is the position of tn
Democratic party on the Resumption Act
Proposing no measure themselves, fo
Governor Tilden's letter is the first sue
gestion of plan by any leading Demo
crat to secure resumption, abusing us on
year for wishing to resume, and the mex
year for hindering resumption; having n
fixed principle; openly surrendering a
they struggled for during the war; nc
daring to take issue with us on the er
forcemeut or the election laws, and Greer
ing through the most ridiculously sma
hole ih the Resumption Act, the Demo
cratic party of to-day stands before 20
without single principle or measure tina
it dare proclaim.
WHAT is THE RESUMPTION LAW?
Let us now briefly state what this r,
sumption law is. 1t contains several di
J tinct provisions, but all of them intende
r to bring up our greenbacks and ban
T notes to be equal to coin. The first Sc
} ton provides for the substitution of silv,
} coin for fractional currency. The reasO
D of this was that this small currency W,
: very perishable, lasting only, on an ave
!, age, one year, and costing $l,40O, 900
, year, or three and one-half per cent. on I'll
e amount of it. 1t was not money, but
promise to pay money, while silver col
5 was money of intrinsic value, that r
a deemed itself, and cost nothing for coli