The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1876-06-01
THE CURRENCY QUESTION STA
TED FOR THE CONSIDERATION
OF DEMOCRATS.

There are some Democrats who favor
an increase of the currency, and seem to
think it both advisable and practlcaDlee
For the particular consideration OF all
such Democrats as entertain these views
we propose to give brief statement oi
the present aspect and precise position
of the currency question:
In the first place it must be remem-
bered that all legislation on the subjects
of finance and the currency since 1861
has been the work of the Republican
party, whether wise or unwlse,, good or
evil in its results, all the legislation on
these subjects has been adopted by Re
publican President and Congress. They
passed the law authorizing the issue OF
legal tenders or greenbacks, and for the
organization of the odious system OF Ma
tional Banks, an incubus upon the coun'
try, like that it was freed from by firm,
ness and sterling Democracy OF President
Jackson, and are wholly responsible Tor
the INN ense initiation Of currency which
followed, for the continued issue otthose
notes, and all the contraction which has
occurred, whether necessary or unneceS-
sarv, has been the work of the Republi-
can party, through its President and its
most unscrupulous majority in Congress,
Then after the reckless expenditure and
speculation engendered by its immense
initiation has nearly the whole country,
and the Republican party began to per-
ceive that its days were numbered, and
that it had been weighed in the balance
and found wanting; after its Congress had
passed measure of extreme imitation,
which, equally to the astonishment and
dis ust of its authors, had been vetoed
by the President, Congress reversed its
action, and by the grinding force Of Re-
publican caucus machinery, and for the
merest partisan purposes, passed that
most advised and ill-digested Resump-
ton Act; and that, too without allowing
the necessary and usual deliberalion.-
To complete this statement of facts, the
action of the Supreme Court in Decem-
ber, 1868, decided that the Legal Tender
Act was unconstitutional. This decision
was so obnoxious to the Republican par
ty, and so extremely detrimental to its
wealthy speculators who managed the
party movements, that it was determined
the decision was reversed. 10 accom-
plish this the number of Supreme Judges
was increased, and as there was one va
cancy from the death of Judge Grier two
new Judges were appointed-one the at
torney of the Penna., R. r, company, the
other of the New Jersey Central compa-
nv, but both known to favor reversal,
and thus, by the most corrupt political
management, in which Republican Con-
gress and President concurred-the re"
versal of decision which had been made
after the fullest discussion, and most ma
ture deliberation-was Trejudged and ef-
fected, solely for political and pecuniary
Objects
The decision of reversal, however, only |
extended to the point that the legal ten
der act was justifable as a necessary war
measure, but the Court, at the same time,
decided that any further issue or reissue
of greenbacks would be clearly unConsti-
The legal aspect and precise position
Of the currency question, then, as
we understand it, is just this: there can
legally be no further issue or reissue of
even if law should be en-
acted by Congress to that effect.
The crude and impracticable Resump-
tion Act cannot be repealed or amended
by Democratic House of Representa-
5ives without the concurrence Of the Re-
publican President and Senate, of which |
here is no probability. How idle. then,
it's forDemocrats to clamor for an increase
Of the currency when the thing is clearly |
We believe the only remedy for the
present financial evils is for all to praC-
tice the strctest industry and economy,
and above everything else, every Demo
crat, and all citizens who desire the best
of the whole country, should |
make the most urgent efforts to secure
the election of clear headed Statesman,
and sound and reliable Democrat for our
next President. That more than any
thing else, we believe, will contribute to
renew confidence, and restore the pros
Derity of all classes in our Country.-Mar-
On Mirror.