The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-04-22
The Indiana Platform.

The presidential election Is bnt little more
than six months of, and the conventions
which are to nominate the candidates for
President will both meet in comparatively
short time. The creeds OF the two parties
ought to be by this time indicated in gen.
oral way by the platforms adopted in the
several State Conventions. The desire to
succeed win induce compromises. just
now it might naturally be expected that
there would be strong tendency towards
smoothing the rough corners OF the various
platforms which have been IN use IN the
several States FOR the last year or two.
For instance, no Democratic State conve,-
ton would he expected to reatlirm under en-
listing circumstances the doctrines set forth
last wear in the confession OF faith OF the
Ohio Democrats on the one hand, or those
set forth in tho confession OF faith OF the
New York Democrats on the other. 1t Is
b,i; natural that there should be attempts
made TO unite the members OF the party by
making platform upon which they could
NIL stand.
We see the results Of this disposition to
compromise in the platform adopted the
other day by the Democratic State Conven-
ticn OF Indiana. 1t is in the main good
one. 1t varies but little from the one which,
unless we mistake the signs OF the times,
will be adopted by the National Convention
at ST. Louis, and upon which the Demo-
cratic candidate for President will be eX-
Dected to stand. OF course, we do not reier
10 those planks in the State platform which
would he out OF place il Il national one,
but only to those bearing upon na'iola.
matters, and particularly TO the hnahcial
creed set forth. This last is rs follows:
!. We believe in our ancient doctrine
that gold and silver is the true ana Salc va
sis for the currency, ana we are IN ia'or ol
measures and policies that Will produce
uniformity in value in the coin and paper
Nancy Of the country without destroying
or embarrassing the business interests OF
the people.
, We oppose the contraction OF the vol
,ure Of our paper currency, and declare lii
favor OF the adoption Of measures lookingto
the Gradual retirement OF the circulation OF
the national banks, and the substitution
therefor OF circulating notes issued by au-
thnrity of the Government.
2. we recognize with patriotic SatlSlac-
ton the vast recuperatIye energies Win
which our country is endowed, anu we Oh
serve that in spite OF the interference Win
the laws OF commerce which has been prac-
ticcd our currency has improved in proper
ton as our wealth has increased ana the
sense of national and local security has been
confirmed. We are, therefore, OF the opln-
ion that a natural return to specie-ravmentS
will be promoted by the increase OF ma
tional wealth and industries, by the ass'i-
rance Of harmony at home and peace abroad,
and By strengthening our public credit un.
der wise and economical administration OF
our national affairs.
4. The lcga-tcndcr notes constitute safe
currency, and one especially valuable to the
debtor classes because OF its legal-tender
quality, and we demand the repeal OF the lc-
1iSIation enacted by the Republican party,
providing for its withdrawal from circula-
fion and the substitution therefor OF national
bank paper.
). The act OF Congress FOR the resumption
OF specie payments on the 1st OF JANUARY,
1879, was q party measure, devised IN secret
caucus for party ends, and forced through
the House OF Representatives without the al
iowancc OF amendment or debate, under
party discipline. 1t paralyzes industry,
creates distrust OF the future, turns the Ia
borcr and producer out OF employment, is q
standing threat upon business men, and
should at once be repealed, without any con-
sition whatever.
IThc numbers arc ours
1t will require but little alteration in this
creed to make it acceptable to the Demo
cratic party OF the country. The first,
third, and fifth resolutions are just such as
the National Convention will probably ma
il necessary to adopt. The other two con-
tain but one and the same heresy. The
second is good in SO far as it opposes q
forced contraction OF the volume OF the cur
rencv. Distrust must follow all attempts to
control the laws OF trade. We doubt not
that the country could get along very
well with half the amount OF paper
currency that it now has so long as
everybody should think there was enough
OF it; but the moment you tell people that
the volume OF the currency is to be con-
tracted you alarm them and SO cause mis-
chief. 1t is for this reason that We approve
OF the fifth resolution, which dcnounccs the
act of Congress Of 1919 rs paralyzing indus
try. creating distrl!st OF the future, and
turning laborers and producers out OF en-
ployment. 1t has had exactly that effect, we
doubt not. And yet We are Just as tho
roughly convinced that if the public had
been kept in ignorance OF the existence OF
such a law, it would have had no such effect.
Any law that creates distrust creates also
financial disturbances. Confidence is the
mother of business. Many people suppose
that Congress has the power to bring
about resumption OF Specie-payments in
1879. and 80 they set about to make the
twelve or fifteen per cent. that is 10 be made
by somebody as u consequence OF the III
creased value in gold OF The bank-nOtes and
grccnbacllS.
We repeat that The fourth resolution and
the last part OF the second are unsormd-
are heterodoN--ii our ''doX" Is right
There is not doubt in our mind that The
national-bauk notes constitute a safer anC
more stable currency than the greenbacks
We have repeatedly stated our reasons fol
d this opinion. This part Of the Indians
y creed will not be acceptable in New Iork
nor New England, nor to any OF those iinan-
ciers who hold that a greenback is u mere
promise to pay money, as indeed it is. H.
however, this one feature were left out, tht
Indiana platform would, we think, make :
a.