The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1876-09-08
Something Of His Views upon
Finance

eniDg, that was prepared was thrown |
aside, but so many have been the |
favorable comments by both the |
press and individuals, and go regret |
full have been the expressions of
many OF our citizens who did not
hear II, that we herewith print an
extract from that portion of the
speech in which Mr.. Plumb showed |
clearly that he was not only no
novice in finances, but that the green
back was and is q Republican meas
ure. OF the ability and esrnestness
of the speech the audience fully at
tested by an hour and a-half OF the
closest and sometimes breathless at
tentiOn. Those portions of his
speech, which, from their nature,
gave play to his oratorical powers,
or chances for cutting anecdote were
cheered to the echo; and of its ben
eicial effects upon the party we en-
terrain no doubt.
The following extracts, the points
OF which no Democrat can gainsay
or refute, have only to be read TO be
understood and appreciated:
The Democrats hereabout arraign
the Republican party for it's finan-
cial policy, chiefly OH account of an
alleged design to redeem the green
back, or At all events, to prevent the
issue of any additional amount.
The western Democracy have late
ly assumed 10 champion the green
back, and to find its unlimited issue
q panacea for all the ills of the
times. AS test of their sincerity
it is we'll to go back over their rec
ord. When the Republicans found
themselves charged with the control
and conduct OF the war to put down
q Democratic rebellion, they found
themselves obliged to devise unus-
ual ways of raising the extraordina-
ry sum of money required. In this
strait they hit upon the expedient
OF issuing treasury notes, since pop
ularly known as greenbacks. This
expedienf, undertaken as o war
measure, was met by the united OPP
position of the Democratic party,
who denounced it as unconstitution-
al, as, in fact, most of the measures
deigned for carrying on the war
seemed 10 them to be. Mr.. Geo. Ii.
Pendleton, then q Democratic mem
Der of Congress, was an especial
opponent of the scheme. The meas
ure was adopted, the notes issued,
and they proved an important factor
in the war for the Union.
In December, 1865, Andrew John
sons Secretary of the Treasury-the
fiscal ofhcer of Democratic admin
istration-recomme the retire
ment = contraction-of the green
backs, with q view to an early re-
sumption of specie payments. On
the 18th of December of that year
the House of Representatives pass
ed resolution cordially concurring
in the views of the Secretary of the
Treasury, the vote being nearly
unanimous in it's favor and only one
Democratic vote against it. A sim
liar vote was had in the same Con.
gress upon bill to provide for re.
firing the enbacks-contractin
the currency to provide for specie
payments. Both parties were theI
in accord. A few years since, how
ever, the Democracy of some of the
western States, apparently despair.
ing of making any other issue upoI
which they could go before the coun
try with any chance of success, con
ceived q sudden love, not only fo
the greenback, as 1t then was, bu
demanded the ISIS ne of an unlimited
supply. This sudden change of from
caused some confusion in the Re
publican ranks. The greenback ha(
been useful IN the war for the Union
and, therefore, endeared to the Re
pnblicans, who were gradually be
coming convinced that il might b.
made valuable In times of peace
But their natural distrust of tn
Democracy made them look, for tn
time, with suspicion upon this new
recipient of Democratic favor. TIL
discussion served the purpose of tn
Democracy. and enabled them I
win some local vlctories-but tina
this sudden affection for the green
back did not represent the spirit an
purpose of the party is shown by q
inspection of the st. Louis platform
which not only does not have an
word in favor of the greenback, bu
especially indicts the Republican
not only for not redeeming then
but also for not providing any fun
Wh0SONCE NuCAL
This shows that the animus of til
party is that of extreme oppositio
to the greenback-the same spir
which characterized its first oppos
ton. In the very nature of thing
the money which aided in putin
down the rebellion could not me-
with favor at the hands of the Den
ccratic party as now organized.
There is an endless variety
opinion in both parties upon tn
whole financial question. This di
ference not only covers all matte
of detail, but is equally decided col
corning matters of principle. Th
diversity of opinion is so wide tn
il would appear unwise to go
either extreme-there would be tC
much risk. The great mass of Il
people have no interest in testiI
theories which have in them q stToI
element of doubt. The manifest d
ty then is to go slow-try no ne
experimental least not to so gre
an extent as to invite disaster in ca
the experiment should prove unsu
cessful. Let each days experien
be the guide to the duty of the ne,
There has been great speculate
great extravaganza, great waste,a
the inevitable reaction has con
There should be economy-natio
al, state, municipal and person
Debt should be avoided. The 60
eminent should, as far as possib
keep hands of.
In this crisis the nation eau bet
far afford to trust the Republic
party than its opponent. The /
publican party embraces in it's raj
the greatest number OF farme
mechanics, small merchants, a
persons of small means general
These classes have the most to !,
and the least to gain by sudC
changes and wild fluctuations. ]
party will obey the wishes and C
suit the interests of the great N
of its constituency for the reas
If for no other, that its inter
manifestly, is to do so. 1t alw
has befriended the masses more Il
any other party. 1t is the party