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


suEaMAs's FOLCY.
The law of 1870 declares that the bonds authorized by
shall be paid in coin OF the STANDARD value o. July II,
1870 Coin gold and silver coin! And yet the Secre-
ary OF tie Treasury has within SIXTY days written let
ter to the Syndicate saying they will be paid in gold.
The law is lis interpreter II prescribes the obga
ton OF the Government The Secretary can not odd 10
that obligation The law says the bonds shall De PAD in
silver and gold Tie Secretary says they VIII be paid
gold only. know that ne USES laleuage guaiueuS, Dt
MS letter understood think IL was intended 10 be
ami rcpndate this cfot II will re claimed that the fait
OF the Government has been pledged by HIM, and the
DO NOT be deceived nv elowcl,izens. Chase permitted
JAY Cooke 10 publish that the hvetwenties were able
In CON- and thceupOn 1t was claimed that the public
faith was pledged, and the law of 1869 was.passed.
have read with care the speech OF secretary sherman
have made There word in it in favor Of the
restoration OF the old silver dollar not one word III favor
wateTy plan OF the Republican Convention. Mr.. Sher-
man says $50. 100000 Of ereenbacks have been with
sued / said they increasing the nterestbearlng
debt Mr. Sherman says that since May be has bought
seid tbey we're contracting greenbacks and compelling
banks 10 retire their circulation. Mr. sherman says the
si in the Treasury outstanding circulation,
81 45O OOO the banks have been driven by the threat
S42 100000 showing an actual contraction within less
than three years Of $l23,574.OOO. Aud IN the
presence OF this great calamity will the Republicans
abandon and reverse this policy Not At all They
affirm their adherence TO IT, shenan and Hayes require
prevent and punish strikes and cOercc labOrers and ON
Congress 10 ADJUST fair wages secure good dividends
and appOItiOD property.
DEMOCRATIC PROPOSITIONS.
The Democratic party proposes the exact oppo-
site Of this. Tracing the pauperisn and discomfort
OF the people and the prosraon Of all prosperity to the
vicious policy which have described 1t demands the re-
peal Of the Resumption Act the restoration Of the old
silver dollar the retention OF greenbacks the cessation OF
their contraction and finally, the issue OF all circulating
medium by the Government, making IT all egal-tender,
and the paper and the intercOnyerbc at par Ths
will give us q stable currency, sound currency and
safe currency This will start the wheels or industry,
give sails 20 our and labor to our artisans.
This will hft from our enterprise and energy
the weight which has long oppressed them
This viii revive nope, renew coincidence,
and, BY removing the uncertainty as 70 the
future stimulate the activities so long dormant IL VIII
act lust cOnJar1wise 10 the Republican policy. All
business will instantly feel its influence and within
year after its adoption 1t viii rebuild the places which
have been made waste for ten years. commend II TO
your thoughtful consideration. 1 commend 1t 10 YOU
iahorers whose hearts have asked nothing more
for your independence than as much work IA your
strong and willing do. commend % you OF
the Workingmens party the foundation Of whose theory
IA that 10 capital sOuld bo idle, bat that II should all
coIn bne with labor commend IL TO MI good citizcns,
whose highest aim Is their country's welfare.