Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1878-07-12
A Remarkable Statement From Senator
Thurman,

PRESIDENTIAL candidates should fight
shy of newspaper interviews, but Mr..
Thurman has fallen victim TO the in
quisitive race. He has conveyed his
opinions about the Ohio Democratic
platform to reporter of the Cincinnati
Enquirer. Mr.. Thurman is a distin-
guished lawyer as well as Presiden-
tial candidate. In the latter capacity
we fancy he has thought it necessary
TO give an unequivocal support to the
financial sobhisms of the Ohio plat
form, in order to head off old Fog Horn
Allen, whose candidature has been re-
Gently revived. In doing this, we think
he has committed himself to statements
which, as a lawyer, will trouble him to
sustain. The following extract en-
braces the purport of what he said on
the financial resolutions:
The doctrinal part is the same as last year.
| have never seen an Ohio Democrat who
found fault with that PLATFORM and don't
think that any fault will be found with this.
10 embraces my Views. For instance, | spoke
and voted against the Resumption act when
IL passed the Senate. i have repeatedly
spoken against 1t since upon the stump and
in the Senate, and only month ago voted
In the Senate TO repeal IT, As to the silver
question, everyone knows | have been an ad-
yocate of unlimited silver coinage. AS to the
contraction OF the currency, have steadily
opposed 1t during my entire service In the
Senate. AS to the gradual substitution Of
grecHbdckS for HdtjOndl-b1Hk notes, believe /
wrote the first resolution that ever passed a
Democratic State Convention i'm Ohio favor
ing that substitution.
The Ohio platform proposes to sub
stitute iegHL-tender greenbacks for the
bank-notes. Briefly stated, Mr.. Thur
man would first repeal the Resumption
act, thereby shutting out the expansion
of the currency to the extent of all the
coin in the country, amounting to up
wards of 100000, ZOO, and then sub
stitute 1921 100000 of irredeemable
but enforced legaL-tender greenbacks
for the present stock of National-Bank-
notes. Now Mr.. Thurman, as q law
yer, cannot be ignorant of the Supreme
Court decision which held that the is
sue of legal-tender paper currency
was war-power; that such currency
must be confined within the original
limit of S400,000,000 made at the time
this extraordinary power was exercised;
and that new issue of such currency,
in time of profound peace and in ex-
cess of the original S400, 100000 war
limit, would be unconstitutional, so
that its legal-tender function could not
be enforced. There are now about
1916, 100000 legal-tender grecnbacks
outstanding, and about 1921, 900, 600 of
National-Bank notes. There could bc
about S54, ,000,000 of additional legal
tender greenbacks issued without in
fringing upon the constitutional prohibi-
ton as laid down by the Supreme Court.
Having substituted S54,000,000 of legal
tender greenbacks for that amount of
National Bank notes, their would re-
main about $267, 900, 900 of bank-notes
to be retired. Legal-tender greenbacks
substituted for these would be in ex-
cess of the limit prescribed by the Su-
preme Court as within the constitu-
tional authority of Congress in time of
peace to issue. Does Senator Thur
man, as a lawyer, hold that S267, ,0OO,-
600 of new greenbacks, forming this
excess, would be LegGL-te1ader in spite OF
the Supreme Courts Interpretation OF
the constitutional principle? This is
a question which he ought to answer.
If he holds 10 this opinion, he goes
further than even Buckner or Ewing
dared to go during the last session OF
Congress; for their proposed bill to sub
stitute greenbacks for bank-notes did
not make the new issue of greenbacks
for that purpose legal-tender, as does
the Ohio resolution to which Mr.. Thur.
man has given his approval.
Some of the Ohio papers ought to in
terview the Senator on this important
point, and ascertain just what he did
mean on the point, and whether he be-
lieves there is any constitutional limit
to the amount of irredeemable legal.
tender which may be constitutionally
issued in time of peace. - Chicago Trt-
blL1le