Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1877-08-22

lied, and their institutions imperilcd
by tie existence of the operation of
such causes, and the influence of an
enlightened, oycrpowering public
opinion will prevent turbulence by
depressing these causes of discomfort,
will not await its outbreak 10 be beat
en- down by arms.
To the formation and cnlighten-
ment of such opinion and in sugges-
ton of peaceful methods for the cor
rection of evils, the bureau can be
made an efficient instrumentality.
The method of compensation l have
ventured to suggest may or may not
be approved. 1t will not if one bet
ter be brought forward. Be this as
it may, the mighty interests involved
cannot afford to be indifferent; labor
cannot afford it; capital cannot af-
ford it; social order and public lib
erty cannot afford it.
/ know the hazard of venturing
upon the untried. Conservatism still
remains in old ruts and is content,
but progress rises to the hight of
newer occasions.
REpUBLICANIsM is PROGRESS,
ever struggling to advance mankind
to places Of higher development and
security. To this end not to endan-
ger but to secure: not to change but
to protect; not to blend but to har-
monte the rights of labor and the
rights Of capital on basis of impair
tial justice to both, it now .grapples
with the great issue growing out of
their collision and seeks by peaceful
methods to provide against their oc-
currence,
| LABOR AND CAPITAL
neither of which can prosper unless
nourished and fed by the other-shall
they be enemies and not friends? 1t
is most natural, as to republicanism
was given the honor of lifting capi-
tai and labor to common plane of
impartial freedom and universal man.
hood, so may to it be given the honor
of witnessing these two twin cours-
ers harne ssed to the car of progress,
their ensign not of communism, but
of concord, bearing the emblem not
of crossed swords but of clenchcd
hands, and together mount the high
or plane of impartial Justice and mu-
tual prosperity, where, while capital
receives its remuneration, labor shall
not be denied its just reward.
! CURRENCY AND RESUMPTION.
Upon the question of currency and
resumption he said that the Cleve-
land Convention had reaffirmed the
declaration of the National platform
that the government having assumed
to remove any doubts of its purpose
to discharge all just obligations to
the public creditors and solemnly
pledged its faith to make provision
at the earliest practicable period for
the redemption Of the United States
bonds in coin, commercial prosperity,
public morals and the National credit
demand that this promise be fulfilled
by continuous and steady progress
to specie payment; and the said Re-
publican party, not only of Ohio, but
of the nation, stands committed and
it must be fulfilled. The war debt OF
, the nation is q legacy only less sacred
than the soldiers pensions. The gov.
crnment having originally pledged
the reimbursement in coin of the pub.
lie credit, national faith cannot afford
} to dishonor the obligation.
The desire to equalize the value and
purchasing power of the coin and pa
per dollar is practically universal
When they shall become interconver
tible at pleasure the desired results
will have been accomplished. How
shall this be brought about with thu
least possible detriment to existing
s rights and interests In considering
l any method various interests involv
cd must be kept steadily in view
: The money of commerce is the meas
n ure of values. All Indebtedness i
: contracted with reference to the kint
of money which at the time is tn
: measure of value and in which pay
: ment is expected to be made. Value
n may change, the purchasing power o
n the current money may enhance O
: depreciate, but indebtedness ono
j. contracted is unalterable. The slip
= ulated number Of dollars will be re
r quired.
ri Dollars will be required to dis
i charge it, whether the value of tn
b dollar be augmented or diminished
Its augmentation tends to injuriousl,
r affect the debtor, because more labo
n and more merchandise will be re
: CURED to procure it than when tn
= debt was contracted. Its deprecia
r ton tends to injuriously affect tn
/ creditor because he will be compelled
q to receive payment in money of les
r purchasing power than that will
i reference to which the obligation wa
: entered into.
III VALUES
: adjust themselves to the money stand
: ard by which they are measured. l
money appreciate, these shrink ant
decline; if money depreciate, thcs
4 correspondingly enhance. Any con
t siderable appreciation must, there
t fore, work more or less dctriment
: depending on its extent and the de
t gree of its violence. If it be so grad
. ual that the recuperative energies o
s the country can repair losses as the.
arise, the transaction may be effected
!? without sensible shock, or, if on tn
Q other hand the transaction be SO sud
S den and great as to paralyze the pow
D er of continued recuperation, disas
: ter must result in proportion to thu
s unpreparcd condition Of the country
Q and the extent of the change.
THAT FINANCIAL POLICY,
therefore, it would seem wisest
which will effect a return to specie
equivalents with the least possible
imitation on the one hand or contrac.
ton on the other; which will steadi.
ly but surely improve the quality OF
currency without serious disturb
ance of its existing volume or violent
change of commercial value.
This / understand to be the policy
of the Republican party and the spir
: it of the platforms of the Cleveland
and Cincinnati conventions.
THE POLICY.
81 In closing Judge West referred
briefly to the Presidents Southern
' policy, admitting there were differ
ences of opinion upon it, but asking
that it be given fair and honest trial
trusting that an impartial history o
: the country and the best welfare O
an emancipated race would vindicat,
the wisdom of his course.
II One North Carolina office-seeke
has been rewarded. History will
know him as ID. M. Landsey. IL
went to Washington after Hayes
, election with the intention of devot
. ing his valuable services to the gov
: eminent as Commissioner of Agri
culture ; and was repeatedly pressed
for that position by his delegation.