Evening star. [volume] (Washington, D.C.) 1854-1972, 1878-09-26
NEW YORK REPUBLICANS
CONKLING'S SPEECH.
HIS FINANCIAL VIEWS.
NEBRASKA DEMOCRATS.
THE FATAL FEVER.
NEW YORK REPUBLICAN CONVEN.
TION.


porary chairman and permanent president
On taking the chair he said: We have met in
year likely to be the hinge on which much in
the future will turn: year which in its politi-
cal results Will leave deep and lasting i'm
press on other years. America, in common
with every land in Christendom, has been pass.
ing through period Of depressed Industries
suffered much everywhere. Hard times
have fallen on all lands; not on all alike, be-
cause less heavily on ours than on others.
Great Britain. Germany, Russia, France, and
other countries are passing through deep
tribulations. We have overpassed tue worst
and restoration, gradual but constant, is sure
unless want of wisdom and falIaciouS meas
ureS block the way. The matchleSS resources
of the country and the matcheSS enterprise
ana activity Of our people will not fail 10 cure
our business disorder III three things eau be
assured. lst. Congress must not destroy
the headway which has been made, and
launch the country on new seas Of con-
temptS TO control the laws of trade and TO
create values by legislation. Financial sta
bllity and certainty on which men can rely
and calculate ahead must not be exchanged
for exploded theories or novel devices. Per-
manence and fxedneSS in laws are often bet
ter than philosophy or even perfection. %.
We must have frugal honest government,
earnest tanG steady administration, and hon
eSt, constitutional currency, with the public
credit Kept high and untarnished, and the
public treasury defended against unfOunded
claims and against all schemes of plunderers
and SPECTATORS Sd. We must have peace
and order and protection, full and equal be-
fore the law, for the rights of all men every
where, north and south. The object OF just
government is not to carry on business, but
to protect life, property and rights, and thus
to leave every citizen free and safe in all law
full exertions, opportunities and enterprises in
which he chooses to embark. Wealth or prop
erty cannot be conjured up by legislation nor
by political parties, no Slelght OF hand can
produce it; no philosophers stone or per-
petual motion can be discovered by legfsia
t!ive, device, however cunning; Property
out Of the field, blasted out of the nine,
pounded cut OF the anvil, wrought out in the
factory and the furnace. Labor is a. the bot
tom of 1t all; and the nation in which there
are the most laborerS, and in which labor is
ceSt cherished and cared for, must be the
labor are natural allies. When they work to-
gether, both are enriched; when they are hos
Tile or separated, both suffer. What is the
difficulty now? Business is stagnant, capital
is afraid, and labor lacks employment Capital
is always afraid when labor lacks employment.
Whenever capital is not afraid, there is brisk
and again that 3,GO0,Gy0 laboriug people in the
Unitea States who want work are out of en-
p'oy; but every rybody knows this cannot be
true; The picture has been overpainted. The
truth is bad enough and sad enough; business
is depressed, and honest, honorable labor is
suffering. Can these evils be cured by such
It is SAID we Shall have have new new and and
larger issues OF paper currency. WHAT for?
Is not currency piled UP in every bank and
money center and depositary? Cannot money
lie borrowed in millions at the lowest rates OF
interest? When all the paper and coin in the
country IS put into active circulation will there
bility, and assurance that credits and values
will not be tampered With will unlock capital
and put money in circulation, but schemes for
watering the currency and shrinkage in its
purchasing power, and thus changing bar
gains and transactions will frighten capital
and make it hide: What is to be done with
told to bo1 dtol iers; what are they to with ite
Will they give it away? They will keep it or
loan. What good will that do? If put into
whole currency and put up prices for the poor
to pay. and the wages of labor will not ad-
vance fast enough TO keep up with the ad-
vance of prices of food and commodities
Ali borrowers with security can borrow at the
cheapest rates Of interest now-this is all they
can do alter more groenbacks are issued. But
SO much interest. Yes but what stands in the
way? Gold can be bought too dear. In the
first place this would be fiat reputation.
said on their face, and laws and resolutions fn
every solemn form of p'ighted faith have said
that the bonds should be paid in honest hard
mOney-in coin. Savings banks, trust compa.
nies and dividends nave bought these bohds
for Widows and orphans and soldiers on this
pllghted faith. The bonds are not held by the
who are not rich. Again the government
and the, American people in Congress
assembled, said when they asked money for
bonds that more than Si03,Go0,C ,C39 of legaLtend-
erS never should be outstanding. This was to
say, the bonds should never be paid by legal
tender notes. This pledge obtained the money
and there 1t stands, to be kept in honor or re-
striking at the bonds OF the United States, or
at those who hold them? The chief objection
now seems TO be that the bonds are not taxed.
place they were and are taxed, and taxed in
advance. The man who pays par in gold for
e oond bearing only per cent interest, and
more than half the legal and usual interest in
this state, pays for the exemption from further
taxation in advance, and pays pretty largely
be to break the contract just as much as to
refuse payment in whole or in part. The bonds
and the legal tender notes were issued to save
and now It IS in IN Voaion af te
laws and faith Of the American peo-
pie to repudiate and depreciate both.
cial system when its worst evils have
been overpassed to overthrow banks, and to
set shifting congressional maioritieS, caucuses
and coalitions rs at the work OF printing paper
promises or fiat" money as much and as often
as they please. Such action would unSette
values; would initiate and debase the cur
rency; would cheat labor Of its just wages:
latlOn; would battle all calculations of busi-
ness, and make trade worse than rattle,
ranie In which honest industry not snrewd
eTs. The republican party is against it,
and one of its missions is to manage TO
final success and relief the ugly financial
legacy of war which il did not make
a war in which every republican IN every
state and on every spot was on his countryS
side. Look over the c0untry-east, west and
southland see the position OF the democratic
party. Its last national convention demanded
the repeal of the act 10 resume specie pay
ments next January: Now, wnen gold aud
paper have come together months beforehand.
enators Thurman and Pendleton in Ohio.
Senator Voorhees, and Governor Hendricks
in Indiana General Johnston in Virginia the
western and southern leaders of the democra-
cy generally and democratic conventions even
in New England cry aloud for huge schemes of
more paper money. In the West the demo.
cratic party has become the party of imitation.
In New Jersey and other states, fusions of
democrats and infiationists are progressing.
In Maine large portion OF the democracy
voted the avowed expansion ticket, and the |
democratic press exults over the result. Mas
sachusetts outdces herself and General Butler |
heels.
Mr. Conkling was frequently applauded,an |
at the close Of his speech the convention took |
a recess.