The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-06-26

The first resolution of the platform of the
democratic party Of Indiana says that ina
tionsl bank notes shall be retired, and in
lieu thereof there shall be issued by the gov
eminent an equal amount of treasury notes
with full legal tender quality
This is a square out and out declaration,
incapable of any double Interpretation, and
meets the issue fairly and sqaarely. This is
what the nationals have been clamoring for
what they nave declared for in the first
resolution Of their platform. The resolution
tied coming OF gold and silver, which the
democratic platform also indorses
On this financial question, If
there is any distinction between
the two parties, it is distinction with
out difference. The nationals favor an
issue Of greenback currency sin sufficient
amount to meet the wants of trade" On
that question the only division between the
two parties would be on what constitutes ga
sufficient amount to meet the wants of
trade" No man of any common sense
would ask for an unlimited issue of green
backs; for after while the head of every
family would be compelled to take his mar
ket money with him in a basket, and then
he could bring back his purchases In his
hand. How are we to arrive at the conclu-
SION of what constitutes IAN amount
sufficient for the wants of trade"
This is not a very difficult mat
ter, for the experience of other
great and older nations is before us, and
their experience is "a lamp to our life. a
guide to our feet" No nation that has
attained power. wealth and greatness. since
the dawn of civilization, has worked up to
its destiny without the aid Of paper money.
A careful study OF the rise, progress and
fall OF these nations will certainly give US
the key to financial policy that will enable
us to steer clear of the pitfalls in
national finances The money in circu-
lation should not exceed a certain amount
per capita. Now what is this amount?
How can it be arrived at? These are the
questions to be solved 1t is better to COM
mence on scale that we can climb than to
start with one from which we must fall.
The reconciliation OF silver was an
entering wedge in the right direc-
ton. The reissuing of the greenbacks was
another step in the right direction, and the
repeal of the resumption act would have fol-
lowed but for the declared action of Secre-
tary Sherman, il 1t became law. The den-
ocratic party originated the measures, and
pressed to their conclusion the two
acts that have already afforded relief
and restored confidence. 1t will also, in
time, inaugurate such further legislation IS
will place the keystone in a financial arch
that will span all the needs of the people.
1t is question that needs careful thought
and deliberate action. To go slow and be
sure you are right is making haste faster
in the interests of the people than by en-
bracing precipitate action. The nationals
must remember that the democratic party, in
affording the relief they have so far been
enabled to offer, have been fought step by
step by the republican party. They GER
tainly are not advancing the ideas they de-
sire to see engrafted in the policy
of the government by organizing
third party. Success will be sooner attained
by supporting that party which IN organiza-
ton, members and discipline is alone able to
cope with the enemy OF their principles.