Daily globe., 1878-09-13
PENDING CONFLICT.
RON. GEO. II. PENDLETON,s REVIEW
OF THE POLITICAL SITU.4TION.

OF THE POLITICAL SITU4TLON.
Al Able Expose Of the Ruinously oppres.
sive Financial Policy Of the Republican
Party--Why tho Country IL Impover-
ished and Distress Exists on Every Hand
-.Facts and Figures Which Tell the
Whole Story.
lHon. Geo. n. Pendleton's Speech ut Colum-
bus, Ohio, Sept. 10.
The recurrence of an election compels us to
confront our ancient antagonists on questions
of great importance. mistake. Not our
ancient -antrgonists-the opponents of the
Democrats never become ancient. Founded
only in questions of policy, temporary in their
natuEs.r rhsving no great underlying principle,
they eosere only for day-they fill their ap
pointed time and disappear. They spring up
rapidly. and for time they seem to have great
vital power, but the element of their rapid
growth is also the cause of their decay. The
mushroom grows more rapidly than the oak;
the soft porous stem and succulent top are
more readily formed in the dews of the night,
and therefore more easily perish in the heat Of
the sun.
The Repub lean party is no exception. 1t
follows the logical law of its being. I speak
neither boastfully nor tauntingly. Its own
warmest friends and supporters declare it is
lending to its end.
They say the vitalizing cause of its exrtenc.
has either ceased or been lost sight of, amt
soon 1T will only cumber the ground. What
new protean face it will next assume will not
venture even to guess. Federal. Whig, Know
nNth HI 1,,<
nothing long" We shall see a new face and
hear new name, and have brought into prom
lnence new question; but at bottom We
shall find the motley crew, whose only princi.
pie is opposition to Democracy, whose only
| c0hering power is love of Office for Office sake.
THE DEMOCRATIC PARTY
has its foundation in the conflict eternal in
civil society between the rights of men and the
franchises of corporations, and the special
| privileges of wealth-in the conflict, inherent
in orr federal system between the rights of the
constituents and the 20 sers of the central gov
ernment, between States rights and consoli-
dated power, between home rule and paternal
| government, between union and unity.
The Democratic party has always stood firm
| for the people against the classes. for the in
dlvldual against the masses. for the powers re-
| served against the powers granted and there
| fore 1t will exist in all governments long
| the aspiration for the amelioration Of q mans
| condition exists in ,he human heart; it will
| exist In our government as long as the aspira-
tion for the constitutional liberty and consti-
| tutlonal union are the tests Of :Lerican
patriotism.
The debate in Ohio has been fully opened.
The conventions Of the parties stated the issues
and positions. Thurman, Sherman, GARFIELD.
Ward, Foster, Ewing, West. Mcmahon.
Mckinley. Geddes, Aiherton, Sayler, Follett
and Warner have spoken. have read care
fully every word of all these speeches. They
| nave heen able, eloquent. vigorous. They have
exhibited every phase of the questions with
ingenuity and power.
Barring the exaggeration which belongs to
OUR STUMP syrsEM,
they have been candid. Barring the contradic-
tions which grow out of the rapid consideration
of many great subjects in brief space, they
have been logical. Their intellectual range
only has spoken of his antagonists unwnrthily;
and those who know him better than do. at
tribute this injustice to hi, intellect. rather to
the inadvertance ot his expression, than to the
! promptings Of his heart.
venture to say that not in the palmiest days
OF popular oratory has political debate, in
| volving SO many speakers, been opened with
| greater power and el0quence; not in intellectual
4 conflict have been given heavier blows or keen
er thrnsts, and been exhibited stronger deter
| mination and courage.
And as almost simultaneously they appeared
before the people to battle for their cause,
an active imagination might we'll recall a
transcendent scene, when the bravest, and
| strongest, and most enduring. and active
gladiators, devoted to victory or DEATH marched
! into the arena and bowed their heads before the
emperor and senate, and one hundred and
| twenty thousand Roman citizens, the power
| and wealth, and beauty of the imperial CITY,
| and exclaimed: I'VE, who are about to die
salute thee."-lNo,Ituri sal1tun.us.
| will
NOT BEGIN THE DEBATE ANEW.
| will take it where I find it. will not in
troduce new subjects. will not argue these
/ questions as original questions. We find a
certain condition of affairs, very unhappy
one; we must get out of it. 6tatesmanship
consists in adapting principles to the ever
/ changing phases of human affairs.
| The people of Ohio are so accustomed to
discussion of the financial question that they
| need no repetition of axioms Or rudimental
proportions. ] have endeavored to eliminate
the very gist of the discussion. with many
words you confuse wisdom but here, with
whatever e, contradictions, or variety of express
sion, or differing degrees of importance attrib-
uted to particular branches. there are
| AFEw PROPORTIONS
generally admitted, and few other PROPOSE
lions steadlly maintained.
| !. Secretary Sherman, in his speech at To-
ledo. said: From the diversity of our wants
| we have different kinds of money TO measure
great wants and little wants. We must have
com money and paper money and plenty of
| both. What contend for il that though our
| money may be of different kinds, it must all
have the same purchasing power. The essential
qualities ot all good money are stability, equal
| ity and convertibility.
q. The Democratic platform declares i,
favor of paper money made receivable for all
| dues to the government of equal tenaer with
coin, the amonnt of such issues to be so regu-
| lated by legislation or organic law as 10 give
the people an assurance of the stability in vol
ume of currency and consequent stability of
| value"
8. All parties in Ohio-I say parties. not in
dividuals--concur that the amount of green
backs now outstanding by law-about s347,-
OOOOO0-shall be permanently maintained in
in words that there should be any contraotion
of the present amount of outstanding bank
note currency-about 1922, ,00O. .0O1-unless an
equal volume be otherwise supplied.
think the acts ot the Republican party do
| in fact lead to contraction, notwithstanding.
Is shall hereafter endeay yor to show:
THREE GENERAL CLASSES OF PAPER MONEY
familiar to US all:
4 !. A paper note representing an equal amount
OF coin, dollar for dollar, which is boarded
away, entirely unused, and ready to be pro-
duced at any moment on the demand of tho
holder of the note.
j q. A hank note, whether national or State
bank. substantially such as We had before
1869. which is on its face a promise to pay
coin on demand. and whose value depends up-
on the ability of the bank issuing it all times
to fulfill that promese. It is said that expe-
rience has shown that coin equal to once uar-
ter or one-third OF the amount promised by
these notes, will suffice to keep them at par.
History does not support the assertion.
8. A currency issued by the government
containing a nrOmise IN the nart of tho oovorn