The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-06-20
The Cheating Platform.

II there be one question more than an
other upon which the Republican leaders
have professed to be positive aud united,
it is the resumption of specie payments.
In order to enlist capitalists on their
side, and to propitiate the bondholders,
the act of Jan. IA, 1875, was driven through
Congress without a word of debate in
either House, and by the discipline of
party alone, enforced by the caucus. That
act provides for resumption on the LIST OF
January, 1879. but IL does not provide any
means to carry 1t into execution. 1t was
intended 10 be fraud, and Is now vir-
tually dead letter on the statute book.
Still, in the face of this and other decep-
tons the Republicans have pretended to
be in earnest about specie payments, and
State Conventions have passed resolutions
Affirming the policy of sound cur
rency." The proceedings of the Cincinnati
Convention prove how hollow and false all
these pretences are. Listen TO the open
ing address of Gov. MORGAN:
This Convention should emphatically dsm1nd the
prompt aud .ncient execution OF those solemn prom
d,sa IN CON ne HIGHLANDER o5iiJanon or hs Gorera-
msni on 1.e lHO ymaarN 1919 aud signlt, oppo.
does not guarantee sti earlier or better method u
money"
These words are plain and emphatic.
They have an earnest sound and mean ex-
actly what they say; but what did the
Convention determined Let its platform
speak:
Nv In the nrst OF Congress signed by President
GRAFT The national Government ass umed to rom We
doubts Of s purpose to dscnarge all Just obga.
tons 10 pupNc creditors ana rocuny pledged Ito fAltn
MAKE DToyson q, TN the esTs gsete sole period Tor
Commercial prosperty puzzle morals, Ard nationsl
tinuous and steady progress to specie payment"
The " first act which GRANT signed was
in the interest of the bondholders, because
| it made loan OF five hundred millions
payable in greenbacks by the law, payable
in coin. The managers of that job prolited
immensely, while protesting to strengthen
the public credit. There was no obliga-
ton about it, but the very contrary, for
the original debate shows the intention to
pay the interest In coin and the principal
| in paper. Mr.. SHERMAN and others who
carried the law of 1869 through, had par
ticipated in this very legislation.
From 1869 to 1874 no step was taken look
ing to resumption until the sham was con
cocted fixing the LIST of January 1870 for
that purpose, without any provision what
ever for carrying II into practical effect.
| This is all that has been done, and when
examined, it amounts to worse than no.
thing, for 1t keeps the word of promise TO
the ear and breaks it to the hope.
Now the country is asked to take this
miserable dodge OF q platform, reported
by Gen HAwLEY, too, us a declaration for
nd f.tlA .,fI
MoRGANs upright demand for the prompt
and faithful execution of those solemn
promises of both Houses of Congress to
redeem in coin the legal-tender obliga-
tons of the Government on the LIST Of Jan
uary, 1879.
But this was not all. The minority of
the Committee on Resolutions more honest
aud candid on tins subject than the trim
mcrs who were trying to deceive the hard
money men and the softs at the same time,
reported the following substitute, through
Mr., DAVIS of Texas;
"Hes0n IT, That 1t Ia the duty ~ Congress to provide
mca-u,e. FOR carving out tue PROVISIONS Of what l.
Hal re,tinpt,n Of ,prie pny,ne1ts Al In, tu" 4ea
by s4ida act, cannot befmther delayed"
Here is a clear aud downright express
sion of good faith if resumption be i'll
tended at All. Gen. HAwLEY opposed il
for that reason. He thought IL better t.
make an emphatic declaration OF sound
principles, and not tie ourselves TO delals
in measures" Similar declarations have
been repeated in q variety of forms during
the last ten years, without the least effect.
In fact Republican Congress repealed il
own act, 10y which the legal tenders woulC
have appreciated to the gold standard anc
thus solved the problem OF resum ptoI
years ago.
The Convention voted down the substi
| fp re rA ,f.,1 ~. aba tbat m