The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1876-08-31
COLONEL P. B. PLUMB'S SPEECH IN WITCH
TIA AT THE RATIFICATION MEETING.
An Extract Giving Something of His Views up
on the Great Question Of Finance and His
Opinion as to What Party Should be
the Guardian of the Greenback

( y. W opu, Coi- u. iuihp, iioh'
Thomas II, an and others.
The review OF Col. Plumb's speech,
which proved The speech of the even
ing that we had prepared was thrown
aside: but SO MANY have been The ia
yorable comments by both the press
aud individuals. and so regrelful have
been the expressions of many OF our
citizens who did not hear it, that we
herewith print an extract from that
portion of The speech in which Mr..
Plumb showed SO clearly that he was
not only no novice in finances. but
thar the greenback was and is a Re
publican measure OF the ability aud
earnesincss Of the speech the audience
fully attested by an hour and half of
the closest and sometimes breathless
attention. Those portions of his
speech, which from their nature. gave
play to his oratorical powers, or
chances for cutting anecdote was
chcered to the echo; and of its bene-
fetal effects upon the party we en-
terrain no doubt.
The following extracts, the points
of which no Democrat can gainsay or
refute, has only to be read to be AN
derstood and appreciated
'sThe Democrats hereabout arraign
the Republican party for its financial
policy, chiefly on account of an alleged
design to redeem the greenback, or at
all events. to prevent the issue of any
additional amount.
"The western Democracy have lately
assumed to champion the greenback,
and to find in its unlimited issue a
panacea for all the ills of the times.
As Il test Of their sincerity it is well
to go back over their record. When
the Republicans found themselves
charged with the control and conduct
of the war to put down a Democratic
rebellion, they found themselves
obliged to devise unusual ways of
raising the extraordinary sum of
money required. In this strait they
hit upon the eXpedient of issuing
treasury notes, since popularity known
as grecnbacks. This expedient, I'M
dertaken as war measure, was met
by the united opposition of the Dem
ocratic party, who denounced it as
unconstitutional, as, in fact, most OF
the measures designed for carrying on
the war seemed to them to be. Mr..
Geo. Ii. Pendleton, then Democratic
member of Congress, was an especial
opponent of the scheme. The measure
was adopted, the notes issued, and
they proved an important factor III
the war for the Union.
"In December, 1865, Andrew John
sons Secretary Of the Treasury-the
fiscal officer of a Democratic admins
tration-recommen the retirement
-contractlon-of the grecnbacks,
with a view to an early resumption of
specie payments. On the 18th of De-
cember of that year the House of Rep
resentatives passed a resolution corr
daily concurring in the views of the
Secretary of the Treasury, the vote
being nearly unanimous in its favor
and only one Democratic vote against
it. a similar vote was had in the
same Congress upon a bill to provide
for retiring the greenbacks-c
ing the currency to provide for specie
payments. Both parties were then in
accord. a few years since, however,
the Democracy of some of the western
States, apparently desparing of max
ing any other issue upon which they
could go before the country with any
chance of success, conceived sudden |
love, not only for the greenback, as it |
then was, but demanded the issue of |
an unlimited supply. This sudden
change of front caused some confu-
sion in the Republican ranks. The |
greenback had been useful in the war
for the Union, and, therefore, endeared |
to the Republicans, who were gradu-
ally becoming convinced that it might |
be made valuable in times of peace.
But their natural distrust of the De-
mocracy made them look for the time,
witt, suspicion upon this new recipi-
ent of Democratic favor. The discus
sion served the purpose of the De-
and enabled them to win
some local victories-but that this
sudden affection for the greenback
lid not represent the spirit and pur-
pose of the party is shown by all in
'pection of the st. Louis platform,
which not only does not have any
word in favor of the greenback, but
indicts the Republicans not
,nly for not redeeming them. but also
or not providing any fund whatever
or their redemption. This shows
hat the animus of the party is that of
xtreme opposition to the greenback
the same spirit which characterized
IS first opposition. In the very ma
ure of things the money which aided
n putting down the rebellion could
ot meet with favor at the hands of
he Democratic party as now organ
zed.
''There is an endless variety of
pinion in both parties upon this
1hole financial question. This differ
nee not only covers all matters of de-
nil. but is equally decided concerning
iatters of principle. This diversity {
f opinion is so wide that it would t
ppear unwise to go to either extreme 1
there would be too much risk. The t
reat mass of the people have no in 1
crest in testing theories which have
/ them strong element of doubt.
he manifest duty then is to go slow
try no new experiments at least !
OF to so great an extent as to invite :
isaster in case the experiment should /
rove unsucc ssful. Let each days u
lperieuce be the guide to the duty of p
le next. There has been great specu- :,
ton. great extravaganza, great o
aste and the inevitable reaction has e
,me. There should be economy, Ma II
onal, State, municipal and personal. :