The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1876-08-04
The Republican Party and
EseSun DlfOR.

nc following eulJOrlaI, unuer
the above heading, is from the Law
renee Daily Journal of the 18th.
We clip it because the Journal has
been the leading "hard money" re-
sumption paper of Kansas, and has
heretofore insisted upon the resump-
ton law being enforced to the letter.
1t shows that the hard money ad-
vocates have. of late, modified their
views considerably, probably be-
cause they have been informing
themselves more thoroughly in re-
gard to the circumstances of the
case:
The position of the Republican
party on the money question, as
laid down in the Cincinnati plat
form, is very liberal one. That is
to say, while the platform enunci-
ates in positive terms the great
principle of resumption and the ne
eessity of continual progress there
to, it leaves the whole broad ques-
ton of means and measures open
TO be settled by the dictates of wis
dom and experience. In the COM
mittee on resolutions, an attempt
was made to commit the party to
the terms of the resumption act, but
the committee by large majority
refused to do so. A minority re-
port embodying this idea was there
upon brought into the Convention
but was Overwhelmingly voted
down.
1t is clear then, first, that the Re-
publican party is committed now,
rs it always has been, to the honest
payment of all the just debts of the
nation, including the ultimate re-
sumption of the United States notes
in coin.
Secondly, that aside from this
fundamental doctrine, the widest
latitude of opinion is allowed. If
II man believes that the entire paper
circulation of the country should
bc greenbacks, aud that all national
bank notes should be abolished, he
cando so and still be good Republi-
can. If he favors the convertible
bond theory,--the , Go arrangement,
he can do SO and still be Repub-
licau. He may favor any financial
theory he pleases, consistent with
an homes fultillment of the nations
obligations and steady progress to
specie payments, and still be a good
Republican. The utmost freedom
and latitude of opinion is allowed.
The fact Is the resumption act it.
self-abont which so much ignor-
ance and passion is displayed-loes
not contemplate the withdrawal Of
the greenbacks except in excess oil
three hundred millions, and does
not assume to fix the final DISPOSE
ton of the currency.
The date Of resumption is still
nearly two years and six months in
advance, and that act has not yet re-
duced the premium on gold cent.
Every thoughtful statesman rec
ognizes the fact that there must be
much wise and careful legislation
before this financial question is fl
nally settled The condition of the
country, the fact that the whole vol
ume of personal aud nearly all cor
porate and municipal Indebtedness
has been incurred, not upon a specie
basis, but upon our present paper
basis, the interests OF all classes and
sections, all these things must be
taken into account before this ques-
tion.is definitely determined. All
violent changes in the value of the
circulating medium must, as much
as possible, be avoided, because
they work injustice. The people
have been forced by law and by
the condition of the country to in
cur their Indebtedness upon the
basis of paper money worth from
10 to 20 per cent less than gold.
They must be allowed to settle on
the same basis. When resumption
finally comes, it must be accompa-
MED by such legislation as will al
low all debts to be settled upon the
basis of the value of the paper
money when they were contracted.
This is practicable. The value of
greenbacks, at every hour of every
business day since tie suspension
of specie payments in 1861, down &c
the present time, is a matter of
record. If, therefore, a man gave
his note for thousand dollars
when greenbacks were worth only
70 cents on the dollar, he must be
allowed to settle upon the same
basis. Once let a simple, practical
BILE, and Just measure like this be-
como law, and all opposition tC
resumption, except among fool:
aud knaves, would at once vanish,
The Republican party is COM
prised of vast majority of the
thinking, active business men and
producers of the country. They
know that the permanent prosper
ity of the country demands that al
soon as possible our currency
should be put upon a specie basis
they know also that it must bC
done i'm such way as not to work
injustice or produce suffering. Thai
this desirable end can and will be
accomplished, we have not n doubt
We will simply add that the
journal is mistaken in its interpeta-
ton of the Resumption law. Tha
law provides for the retirement (by