, 1876-06-30
THE DEMOCRATIC FINANCIAL PROMISE

THE DEMOCRATIC FINANCIAL PROMISE.
We have already referred TO the Democratic
Confederate platform az an extraordinary
document. 4 close reading will feava it MI
open question whether tho financial rart Of
tho document Is more extraordinary for whAt
it contains than for whAt it onits. Tho
an1ions Granger md Grecnbackcr and the
oppressed working1nan will searcll it in
win for any promise of abundant and chenr
money; for any reduction Of tho rntes Of ill.,
tercst; for nuy recognition of m intercon-
rertiblo bond for currency needing no
redemption and based on the faitll aud re-
sources Of tho country y; for my assurance
tllat tho National DankB aro to be abolished
and their currency replaced by more green-
backs. To all these cardinal points in the
demands Of the grocnback party and of the
Democratic party in dozen StatoB tho pint
form makes not tho slightest reference. 1t
ignores them completely. Whnt, then, docs
tho platform say on the subject Of finance
Hcro is the dclyeranco
S'rth-We denonnce the financial !mbccilIty nnd
immortality ofttat pnrty which during eleven years
Of peace has mutlc NO advance toward resumption,
md no preparation for resumption, hut. Instead,
has INSTRUCTED rcsa,'p!aon ~, py Wasting our IT,
,S,,, nnnna,ix nr,,tsssng uintnn sns r.,nru
to specie. payments, has annually cuuctcd trcsl,
hlndranccs thrrcto As such Il htntlrance, NC de.
nonnco tho resumption clause of the net of 1915,
and VT here demand its repeal.
.Strenth-Wo demand a jud!cious system Of
preparation by public economics, by Official re-.
trenchn,ent, and by hnaucc which shall enable the
na!ion soon to assure t'o Whe]c world "f s perfect
" a -, s., -, nre's, ~ nss. as .. ~
ment. Wc icl,cya In xnch sy,tem' we,i. .a.rtsc,
nniaborc all intrsted 10 competent hands for exc
cntlon, creating at ia time an artificial currency.
n'll a. W I'ls "'.is wv lao''s ,nl" shioa "Hn'
NJ mr. rant ~ MI bu4n4. trnnaac,ions m ,'"r.
fornc,l-a systc,u OPEN IL the public. and nprtrlns
general conddenec, which would, from tho day Of
i's auofioh' ps'ns tea!'ng On w. WINGS 70 Ali on
rnnncrce manfac!',res and inc nnebanic m re', a,,.
restore employment to labor, ind renew In oil
iss natural eousccs the prosperity of tho people.
lilo first is mn arra'gnnont OF tho kopub-
llcRn party Tor not haVln6 restored specie
payments anu for having nctuatiy hlndered
and prevented it %, especially by the 80
cal1ed Resumption act OF 1873. iiaylng thus
impeachcd tho Kepnollcan party Tor "itabc-
cil1ty md lmtnorailsy, the pintform pro-
fcsaes to tell how the Observation-Disclosures
l'nrty w'il act the people put IT III power
There IN TO be 1uuic'ohs Hystem OF econo-
mica, nnu oiilelal retrenchinent aud fiHAnco,
which shall enable iAo nation to assure tho
whole world OF ita atll'1y and readiness to
pay its debts on delnand. but there is 4
deeply s'gn'hcaht omission to explain whGt
tins J'ls'lc'ous system OF economies anti wltHt
THIS systom OF nhnnco H. iho Denocratle
party nus haa supreme control OF ono branch
oI congress SINCE Leo' = 1860; tho HOUSE
has peen III continuous session Rlnco tAen'
pnt turing tnat "ho1o t1lne Tue f1ouse mas
novcr permitted vote to ho taken On the
repeat OF the great n'ndfaheo TO speclo
Payments, nor Inns tt doVlsed 1utllcious
sys1em OF preparation hy PUBLIC economics; !;
'nlecd' tho Democrats Of that body l'ave
novor been able to agreo on any 4acs-
tlon relating 10 hnance. Tho majority
OF tho DoInocrats, Whenever tho managers
would permit m expression OF opinion,
lavo favored hASpEuS' plan OF papor money
M distinguished from paper notes or promises
to pny; md lloLMAs's plan to abolals the
National Nnnks nnd substitute more green
bucks for their circulation; mud VoonHEEs
plnn to issue greenbackB and pny OF the
whole national debt; or TINT other plan Ia
issue notos ret!eo'nablo in bond payable III
grsenbacks. The Democratic party made
this Inst plan their creed through one prcsi'
densfnl campaign, md havo naed it rcpeated
ly In various State campaigns sinco tho,l
mud over 200 Of tho delegates at st. Louit
favored 1t Mt tl.is time. Now. which Of ll.cst
"publlc economies" or systems Of finance
does tho st. Louis platform mean, III demand
ed by tho Democratic party in 1876? We
naturally lot'k to tliu second clause of the
seventh resolution for m explanation, hut l.,
vain. Tho language employed battles COIN.
l,rchonsion. All va nn.lcrstnnsl is that tl.e
Democrats demand that tho ncw system s.al
10 lntrautcd to "compotont hands, "-suc'.
US tho Democrats in Congress, who, during
Asven months session, after long anI labori
l