The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-06-23
THE COMING OHIO CANVASS.
TTourIer.JournaI,1

The absorbing question in the ap-
preaching Ohio campaign will be that Of
the currency. The discussions now 60
| ing on in the press of that State are
conclusive evidence OF this fact. The
rallying cry Of the Democracy will be
the silver dollar as legal tender for all
debts, public and private, and the re-
peal of the resumption act. How far
the Republicans, as q party, will ven-
ture to antagonize these views, is as yet
unknown. A clear whistle from Wash
| ington would doubtless solve the prob
lem. We have no doubt but that sound
will be given.
The Cincinnati Gazette says that the
Republicans are in favor of the resump-
tion act s'if''-mark this 'if''-"as Sec
retary Sherman represented in his Ma
rietta speech, it will add specie to the
greenback circulation, but are utterly
opposed to the act If 1t Is to 1corh any
Contraction" This Marietta speech
was made during the last presidential
canvass. 1t was made to catch votes
not the expression of his honest opin-
ions. AS Secretary of the Treasury, he
would be far from giving birth to such
sentiments. Nobody knows better than
he that forced resumption means con-
traction.
The difficulties lying in the road of
the Republican party OF Ohio are set
forth by the Gazette in the following
paragraph:
'The present position of Secretary
Sherman is understood to be a conces-
sion of silver dollar to be legal tender
for private coin debts, and for redemp-
tion of green backs, but not for the pub
lie debt nor for customs. It is also un-
derstood that the President has recently
come to this stage. This is considera-
bly, behind the Republican popular SEN
timent in Ohio, and, we may say, in
that great and indefinable region called
the West; and it presents en invidiouS
and unpopular distinction between one
class of public debt-'the blood bought
and -sanctifed greenback, and
another class, the 'Shylock- bought and
hated bond, and also of one kind Of
money for the people and another for
the bondholder. But as both the Presi-
dent and Secretary Sherman have, as
President Grant said he would have no
policy but to carry out the will of the
people, and as both are advancing on
this line of progress, it is presumable
that both will come fully up to the de-
mand of Ohio popular sentiment, as
the exigencies OF puclc fnanciering
will permit.
eff they do not, then the Ohio Re-
publicans will labor under the disad-
vantage of this reservation by the ad-
ministralion, that the silver dollar
should not be receivable for customs
nor payable on the public debt. In that
case the Democrats would make the
campaign on that issue, namely, the sill
YER dollar for the bondholder and for
all public and private dues, together
with the repeal Of the resumption act.
The Ohio Republicans will 60 the whole
length on the silver dollar. AS to the
assumption act, they try to believe in
Senator Sherman 8 promise that it shall
add specie to the entire paper money
circulation. But this is uphill work.
This act has become standing fear for
in spite Of all the promise Of specie
added to paper, and of silver dollar
cheaper than paper, there is an instinct
that resumption is contraction-a thing