The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1877-09-01
THE DEMOCRATIC CANVASS
In OHIO OPENED.
Remarks of Hon. SEQ. III. PEN
1le1Om.

Remarks of Hon. eco. n. rem
dlefOM.
On Thursday evening, the ed inst,
large audience collected in Capitol
Square, Columbus, Ohio, to listen to
the remarks~of Hon. Geo. III. Pendle-
ton. The following are few of his
closing remarks. Let every reader
give them his careful attention:
"By the money power l mean those
whose aim, object and purpose in life
is not by energy, and enterprise, and
industry, and the cooperation of cap
ital and labor TO add to the aggregate
wealth of the world, but by legisla-
ton, Interpretation and combination
to add to the value of accumulated
money. Every man knows this can
be done only by increasing the value
of every product of labor or skill, de-
stroying or making doubtful the pro-
fits Of all enterprise, discouraging all
business. In this struggle the mon
ey power has been successful. Ener-
gy, enterprise, industry, business lie
PROSTATE before it. The great crime
of the Republican policy is that its
whole history marks one long, pro
longed, painful sacrifice of the inter
ests of every industry in the land to
the greed of this relentless money
power. Need | repeat the proof to
you?
The law authorizing the issue of
greenbacks provided that whenever
they were presented by any individu-
al in sums of fifty dollars they might
be converted into five-twenty bonds.
Two years afterward this provision
was repealed. Greenbacks depre-
ciated immensely in the hands of the
people, and the sale of bonds was
monopolized by the capitalists.
The fivetwenty bonds were by law
of their own issue payable in green
backs. There can be no question of
that fact. Thaddeus Stevens assert
ed it when the law passed. The Re
publican Conventions of Ohio, Indi-
ana, Illinois, Iowa and Michigan de-
clarcd it. Senator Morton approved
it. Secretary Sherman in his place
in the Seuate, six years after the pas
sage of the law, asserted it. The
Cincinnati Gazette within two months
has admitted that it never doubted
that Interpretation of the law. Yet
a Republican Congress passed the
law of 1869, whereby it was declared
they should be prid in coin. This
SINGLE act added eight hundred mil
lions of dollars to the value of the
bonds in the hands of the bondhold-
ers, and added that much to the bur
dens already imposed upon labor.
The currency has been steadily and
mercilessly contracted. In this poll
cy there has been neither deviation
nor cessation. This confessedly adds
value to money and subtracts value
FROM everything else.
Silver has been demcnetized for the
express purpose of contracting the cur
rency and increasing the value of gold.
Millions were deducted from the coin
currency, and bonds were increased
largely in value.
The threat of resumption in 1879
hangs like pail over the country,
and shrouds every industry in mourn
ing. The banks are contracting their
issues, the Treasury is contracting
the greenbacks, the Secretary is
boarding gold. Every Republican
paper in Ohio, the Chamber of com
merce of every city in Ohio every en-
terprise dependent on labor and CAPT
tai combined, in all the land, declare
that resumption cannot be effected in
1879 without utter ruin; and yet the
money power mercilessly, brutally
even in these days of anguish" de-
mands contraction and resumption. u