The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-08-07


the whole people can possibly
save even IN prosperous times, and he
shows the bearing of the taxes to support
this expensive govern ment upon every
mans income, and every business and
industry. ave cannot" he adds, "af-
ford the costly and runous policy OF the
radical majority: We cannot afford their
policy toward the South, we cannot al
ford the magnificent and oppressive GEN.
tralism into which our government Is
being converted; we cannot afford the
present magnificent scale OF taxation.
He gives also forcible expression to his
views in regard ~ the finances,
and comtats the idea that the period
of resumption is necessarily attend
I ed with. distress. To make the
coin in the treasury available, to
gradually strengthen and enlarge the re.
serve, aud to provide for such exceptional
| demands for coin as NAY arise, he does
not believe to be a work of difficulty, and
ought not to cost any sacrifice to the
business of the country. 1t would tend
on the contrary, he thinks, TO the revival
of hope and confidence. But SO far, no
step has been taken by the dominant
party TO prepare the way TO resumption.
| They have made only a barren promise,
and hence the st. Louis convention de-
manded the repeal of resumption act
for which no provision has been made,
and denounced it as political trick, a
delhsion and snare.
sTATEsMANLIKE, RINGING, AGGRESSIVE.
Baltimore Gazette-Republican.
1t is clear, earnest. and forcible, and
carries with it weight of conviction
that will sink into the minds Of the peo-
pie. Its style is somewhat cumbrous,
but it is not in the least ambiguous. 1t
has hearty ring, statesmanlike
breadth, iullness of detail, an sggres-
sive tone, and decided and definite
policy, in all which respects 1t differs
from the timid and fsltering letter of
Mr.. Hayes.
1t is one of the advantages of having
an able man at the head of tho ticket
that he becomes truly the leader in the
campaign. Mr.. Tilden's letter is of
greater Importance even than the plat
form upon which he was placed by the
st. Louis Convention. He takes an ele.
waited view of the situation, and pitches
the battle upon the proper ground. His
letter may be studied with interest by all
who wish to understand the causes of
our present POLITICAL; financial, CONNER
cial and Industrial depression. 1t will
be stimulus to all who hope for bet
ter and purer state of things; and very
troublesome document for the Republican
press and orators 10 answer before the
country.
BRAVE, GENEROUS, sTATEsMANLtKE.
Cincinnati Enquirer-Democratic.
His declarations upon the currency
question had been most anxiously
awaited. They are unexpectedly close
to the belief of the great western Democ.
racy; they are nearer than we hoped,
even, to sympathy with policy which
we regard rs necessary to the promotion
of the prosperity of our people. He says,
and well says that "the amount of neces.
sary currency at given time cannot be
determined arbitrarily, and should not be
assumed on conjecture He says that
at varies with certain states of business;
It huctuates with considerable regular
ity at different seasons of the year. In
the autumn, for instance, when buyers Of
grain and other agricultural products be-
gin ther operations, they usually need to
borrow capital or circulating credits by
which to make their purchases, and want
these funds IN currency capable OF being
distributed in small sums among numer-
GUS sellers The additional need OF cur
rency nj such times is five or more per
cent. OF the whole volume, ard If sur
plus beyond what is required for ordi-
nary use does not happen to have been on
hand at money centers, a scarcity OF cur
rency ensues, and also a striDgency in
the loan market He says that the gov
ernment, "hsving assumed to monopolize
the supply of currency, and enacted ex
illusions against everybody else, 1t is
bound to furnish all which the wants of
business require" There are thousands
of Democrats, and of currency reforners
who are not Democrats, in Ohio, to whom
this admission, or statement, will be well
come. 1t IS an emphatic statement,
for whose truth the Ohio De-
mocracy have contended. 1t is
couched in almost the very words OF
our platform Of 1875 which was So bitter
" betray ed. II is public announcement
by our candidate, under circumstances OF
great responsibility, with the eyes OF the
nation fixed on him, of one of the funda-
mental ideas for which we in Ohio and
the West have been contending. de
SAWS. further, that 'the system should
passivcly allow the Volume of circulating
credits to ebb and flow according to
the ever-changing wants of business. 1t
should initiate Ms closely as possible
the natural laws of trade" This is
the heart, the soul, the essence
of the Ohio Democratic platforms oi
1874 anC. 1875. And still further, which
seems an echo of our platform of last
wear. he SAYS "thst resumption should be
effected by such measures rs would keep
the aggregate amount of currency SELF
adjusting during the process without Gre
ating at any time an artificial scarcity,
and without exciting public imagination
with alarms, which impair confidence
and distract the whole machinery OF
credit and disturb the natural operations
of business He argues that pub
lie economies, official retrenchments,
wise finance, the reducing OF Gov.
ernment expenses below the Gov
ernments income, will secure "redemp-
ton" without imposing "any new charge
upon the people, He says with so much
conclsepess and force that we will not
sbbreviate or parsphrase that "the proper
time tor resumption is the time when
wise preparations shall have ripened into
perfect ability to accomplish the object
with certainty and ease that Will inspire
confidence and encourage the reviving of
business. The earliest time in which
such result can be brought about is the
best even when preparations shall have
been ma,ured. The exact date would
have to be chosen with reference 10 the
then existing state of trade and credit
operations in our country, the course OF
foreign commerce and condition Of ex-