New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-08-24

The Democrats of Ohio mean to conduct
this campaign Ill their own way, and to force
the fighting. Their comrades in Pennsylvania
have done what lay within the range OF their
courage to pledge the fidelity of the party to
the principles of financial honesty announced
bythe national Democratic platform OF 1876, but
the distinguished speakers who last night opened
the Democratic side of the Ohio canvass de-
nounced that formula of political faith with
even more vehemence than they expended upon
the whole catalogue of Republican enormities
Messrs Ewing and PcndletOn are certainly en-
titled to speak for the Western Democracy; at
any rate, they do speak for it with clearness
and emphasis that must command attention.
The brief and hurried profession of the Penn
sylvauia delegates, made as it We're, under their
breath, lest somebody should hear 1t, will
count for nothing. 1t is to the aggressive
speeches of Messrs Ewing and PendletOn that
everybody will turn for indications of the
Democratic policy.
These gentlemen are too much in earnest to
waste time over the fraudulent cry of Fraud
They go boldly to the question of the day.
and base the whole campaign upon opposition
to the Resumption Act. opposition TO every
point of the financial programme of the Adj
ministration, opposition to a gold stand
ard, opposition to any coin standard, OPP
position to the payment of the public debt
in real opposition, in short, to
the payment of debts in any way. Start
ing with the mOnsrOuS fallacy that the
uopulation of the United States is divided into
debtor class" Of forty millions or so, and a
creditor class consisting of a few hundreds OF
bullionists," mOnOpolists," usurers," etc.
they assume that 1T is for the interest of the
debtors that the purchasing power of a
dollar should be as small as possible
and for the interest of the creditors
that it should be as great az possible
Of course they side with the majority.
There is hardly "A crazy fancy in finance
to which they do not give their adj
hesion; and anybody who wishes to know to
what rank folly the deluSion that rags are
money will reduce a naturally sensible man,
NAV find in either of these addresses an awful
example.
Mr. Ewing asserts that the resumption law,
"involving as it does the early and total de-
" struction of the greenback currency and
"the larger part of the National Bank cur
"rency. is the sole cause of the unparalleled
"distress which aiilictS ALL employers and en-
"ployed alike, who are engaged in industrial
pursuits" "TO no other adequate cause" he
declares, can the trouble be attributed" While
we are ground to pieces by the cruel contraction
of the currency caused by the near approach
of redemption, France suStlins her credit
and keeNs all her industries prosper Gus
by an abundant currency of iTedeemable
rags Is it possible that Mr. Ewing knows
so little of the recent financial history Of
the French nation? Can he be ignorant
that France, during these prosperous years of
hers, has been passing through the same process
which he supposeS to have produced such dis
astlous effects upon us &? France, like us, has a
resumption law; 1t takes effect on the first of
next January. The nation has prepared for
this date by an extensive contraction of the
redundant issues of paper; the "ful cur
"rencyr has been steadily reduced, and to-day
coin and paper are practically interconvertible,
and resumption is already accomplished. If
the country has thriven throughout this pro-
cess, it, perhaps, shows that her finances have
been managed with common sense, common
honesty and decent respect for the rules of
arithmetic.