The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1877-08-16
WRONGS AND THE REMEDY.
lat VorEilgnol Read And Reflect
How the Radical Finance Policy
Has Swamped the Country
Twelve Years Of Rule in the Interest," Oh
BOndhOlders.

;0c, tha war WAS prominent memoeI Vi
The lower House from theAshland diSIric'
Henry Claws old district. He Is now
q member of the Senate, having DeeI
chosen to take his seat on the iourth Oh
March last On the 28th ult, Senator
Beck made a speech at Maysville, which
ia the key.note to many of the vital mea-
sures and issues that will come before
the next Congress. 1t is mastery re-
cital of the injustice and evils that nave
flowed from the financial policy OF the
mast nine years, since the Gold Act OF
1869 repudiating the greenback contract
became law. 1t shows how, step by
step, the legislation of the country has
been controlled by monopolists and mon
ev lords, until their labor brings no re-
turns, and the only money that mas
nro6table investment is that which Is
nlaoed in Government bonds. We ask
from all, especially the workingmen who
are studying the situation, while they
struggle in the sloth of despond, o care
ful reading Of what Senator Beck says
SOUND FINANCIAL POLICY.
We are pledged as party to the un-
conditional repeal of the Gold Resump-
t;on act which the Radicals have iasten-
ed mon the country in the interest OF the
foreign and domestic bondholders. we
regard the contraction of the currency
necessary to such resumption as the
prime cause of the bankruptcy ana rum
which threatens all the labor classes, ana
of the paralysis which has fallen upon
our industries, making beggars OF thou
sands who ere willing to work, and caus'
inc outbreaks which endangers the peace
oftb country, and the security OF prop
erty everywhere. ~
We will restore for all purposes the old
standard silver dollar as a unity OF value
eoual TO gold; it was demonetized by fraud
falsehood and suppression of the truth by
the Radical leaders and their foreign aliles
so secretly that even the press, Whlch
learns everything, did not know iof
months that it had been done. l hope
and believe that we will succeed in re-
nuirinp the Government to receive lts
own legal tender notes for its customs
dues. and stop its reputation of the pa
ner It forced all but the bondholder to
receive for all the debts it owes.
FORCED RESUMPTION BANKRUPTCY.
The Radlcs party in its long years OF
absolute con rol of every department oil
the government, has brought the country
nv law to tit, pointwhere all debts OF the
General Go .rnment, Of the States, ofthe
municipalities, of the railroad and other
corporatiop,, as well as of private indi-
viduals, have to be paid in gold alone or
its eouiyalent, on and after the first day
ofJanuary, 1879, above seventeen months
fIom this date. The aggregate OF these
debts is computed to exceed S6OOOOOO''
900 more than three times the amount
of all the gold coin in the world, we
have not got and cannot possibly obtain
before that date over $500 600 600 in gold
or saw five per cent. of the amount we
owe less than one years interest, half OF
that in the hands of foreigners. Forced
resumption now fastened upon US IS, un-
der such circumstances universal bank
ruptcy: the number and magnitude OF the
failure of our business men arefeartul to
contemplate, and we are daily going from
bad to worse. The Federal and State
Government, the banks and other great
corporations, are all compelled to contract
their loans and circulation in order to
meet what they have outstanding in gold,
which they must of course make the
smallest amount possible. No prudent
man dare borrow money now to invest in
apy business, as it is obvious that he can
NOT hope to realize enough from the sale
of any product of industry hereafter to
repay the money he borrows and its in
terest in gold. A lender may be willing
to lend $4,000, taking a mortgage on a
farm worth 500 900, in the hope ofbuying
il in for the $4,000 loaned hut the own
er of such farm, no matter how much
he wants the money, dare not borrow
Yet we are told money is abundant Ger
tainLy because safe borrowers cannot be
found. Manufacturing establishments,
rolling mills, industries all over the land
which demanded vast sums of money,
are closed, and their hands are tramps or
strikers, because there is not only no
prospect of profit, but certainty OF ab-
solute ruin by continuance Of the busi-
ness, Yet the bondholders and other
leeches who are demanding gold, and
gold only, so that they can buy property
at their own prices, are continuing the
cry that money Is cheap and abundant.
Does any gentleman here (unless he is a
banker or bondholder) know how, where
or from whom he can obtain gold to pay
his debts or meet his liabilities. The
Government pays gold only to the bond
holder, from him only can it be obtained
at his own rates, by those who are COM
pelled to have it
Are not these things trne2 Ought
they to continue? Radicals say yes,
Democrats say no. You have to choose
between them. There is no middle
ground. Your vote is your only means
of leg,lly asserting your rights-youl
only real attribute of sovereignty. See
that you exercise itwisely. The history
of the bonds of the United States woulc
fill a volume. / can only give an outline
which will however, clearly show the re
lation of parties to the question, anC
fasten the responsibility for the exist
ing condition of things upon the Repub
lican party.
THE MONEY POWER.
The bonds and the greenbaCks wer
both the offspring of Radical policy
t,cins the same act giving birth to both
The bonds were purchased with green
backs, at par, at time when gold was a
such premium, or paper at such dis
count that the Government realized YER
little, if any more than fifty cents on th
dollar in gold for them. The interest O
them was made payable in gold by a
amendment tackled on to the bill in tn
Senate after it had passed the House in
form which made both principal and il
terest payable in legal tender notes. Tb
House agreed to the Senate amendmen
but many leading Republicans in bot
Houses protested against even the inte
est being payable in gold.
Mr.. shellabaryer said "They (th