The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1876-05-02

squarely answered, yea
Then, said Gov. Woodford, you and
thoroughly agree. Cheers.
Gov. Woodford then illustrated the
difference in purchasing power between
q gold dollar and greenback dollar,
and showed that each each gold dollar
would buy fourteen cents more OF food
or clothing than the greenback dollar.
The difference in value between the
promise to pay gold aud the gold it.
self. is precisely the measure OF the
popular doubt OF the greenback.
The two things that make promise
good are ability and inclination. When
he who makes the promise is both able
and willing, his promise is good.
The government is able. Is IL will
ing? IL the Democracy OF Ohio would
unite with the Republicans in resolute
determination to pay bill holder and
bond holder alike. the people would
believe aud greenbscks aud bonds
would alike be worth their face in gold,
honest, substantial gold. Cheers.
am grateful that all Democrats are
neither infiationists nor repudiationists.
From Nebraska aud Wisconsin the hon.
est, Democratic plough holders have
spoken for the good faith OF the ma
ton. From New York there comes
back no uncertain sound. A man in
the audience exclaimed: SIS not Boss
Tweed in that New York crowd?"l
Governor Woodford continued cour-
teously: Thank you. my good friend,
for that question. Time was when Mr..
Tweed ruled the politics of New York
city and State. He believed in infa-
ton. He swelled the debt OF New
York city and county well nigh thirty
million dollars. But after time hon
esty resumed. Mr.. Tweed went into
retirement on an island near the city.
Better men came to the front, and New
York to-day, without regard 10 party,
stands for honesty in payment OF our
nations debt. Cheers.
Have You heard from New York late
ly? Loud cheers and laughter But
since / have been in Ohio have feared
lest the spirit OF the great statesman
you have named has entered into the
Democracy OF Ohio. [Cheers. Re-
member, however, that your fate has
been foretold in parable.
The devils entered into the swine and
they ran violently down a steep hill
anu were choked in the sea. Cheers
and laughter lasting several minutes. !
Governor Woodford then resumed
the thread Of his discussion.
am not here to dscry the Gen.
back. am here to simply ask that il
be made as good as gold. That green.
back was the price Of my country's lib
erty. Let us pay the price in peace as
we promised it in war, faithfully, hon
estly. Cheers We clung 10 that
greenback when the mad deluge Of re-
bellion swept over the land as Nosh
clung tothe ark in olden time. But
Noah did not stay in the ark forever.
As soon as the waves subsided he land
ed on Mount Ararat, and Ararat stands
to-day for solid ground, hard rock,
good gold and silver money. Loud
cheers and long applause.
The great difficulty to-day in the way
OF business is that no man who has
money dare embark in any new bust.
ness, for he does not know how soon
the bad faith of some political party
may unsettle all values and derange
and destroy all business calculations.
He spoke earnestly and at length Of
| the absolute necessity OF restored
I utuOuk NiaSstrt tupitai-
| ist aud laborer alike, before business
could rSvive and labor find general and
profitable employment.
Ne then proceeded to define credit
as being simply faith OF one man in
another; "a the practical belief that
the seller has in the honesty Of the one
who buys.
The speaker then impressively add
ed: "What credit il to the poor man
/ ia his purchases Mt the cornerstone,
precisely such is credit in the great
/ dealings Of bankers and merchants -
! Cheers. He then reviewed the prom
ise Of the Government made in 1863
that il would never print more than
four hundred million OF these green
backs. II you break that promise
now, who shall ever believe any prom
ise that you may ever make in the fu-
ture? II the people do not believe
your promises, your credit IL gone
1t will be with the nation just as it is
with any OF you, who breaks his prom
Use at the cornerstone. Long applause
Governor Woodford then produced a
Continental note aud read its promise
TO pay Spanish milled dollars or the
value thereof in gold or silver. He
added: What is that promise worth
to-day? Nothing. Why? Simply be-
cause tie government, instead OF stop
ping printing them. kept on printing
more until at last there were three hun
dred million Of them in circulation.
Then faith broke ,lowH. Credit was
gone. Tho people would net take
them even for waste paper aud they
were aud are to-day Irpudiated. The
audience here sat in profound, almost
awed silence, watching the speaker. +
He continued: Let that sad page OF
dishouor from our country's history
burn its lesson into every heart and
conscience here tonight. III you
wonld not repudiate the debt that is
the price of the nations preservation,
"a your fathers repudiated the debt
that was the price OF the nations birth,
stop where you are, and resolutely de-
clare that not another dollar in groen-
backs shall be printed. whatever the
temptation or the bribe. Loud cries
Of "No more! no morer' Here gen.
tleman, connected with the local Dem
ocratic newspaper in this city, took
from his pocket a paper, and began
reading therefrom a question. Mr..
woodford politely waited until he had
finished, and then asked him 10 send
the paper TO the stand. The gentle
man did so. Governor Woodford then
read us follows: "Will the gentleman
answer how much coin has ever been
issued, and whether there is gold
enough in the whole world To pay the
national debt, and whether resumption
must not be arrived at by business ac-
tiyity instead OF resolution OF Congress
in 1872"
Mr.. Woodforl then said, Have /
read correctly1' The gentleman re-
piled. "You have"
Governor Woodford resumed: ! can
not give the exact figures as to how
much coin has ever been issued. do
not suppose that we need as much gold
as the entire amount OF our debt, be-
cause the debt is not all yet due. All
our bank currency and all our credit
transactions are now based upon four
hundred million Of greenbacks All
bank notes have now To be redeemed
IN ereenbacks, aud grtenbacks are
alone legal tender. II four hundred
millions OF them are sufficient to..snstain
all the present credits of the county,
then surely four hundred millions Of
gold would redeem the same amount
Of greenbacks aud would do the same
work ss the greenbacks aud sustain all
present credits. and could be used 10
: nav tho bOntlel .lebt as Al maturss