The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1878-09-19
HON. GEO. Il. PENDLET0N.
SPEECH AT COLUMBUS, OHIO, SEP.
TENDER 10.
Our Ancient AntsgoHlsm Confronted The Repub.
llcan Party Tending to It's End--The De-
mOcraCy Always Firm for the People,

pies, they cohere only fora day-they fill theirap.
pointed time and disappear They spring upTap'
idly, and for time seem to have great vital pow
er, 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
ard kucculent top are more readily formed in the
dews Of the night and therefore noIe easily per.
ish In the heat of the sun.
The Republican Tarly Is no exception. 1t fol.
lows the logical law ofits being. speak neither
boasfully nor tsuntinRly It's own warmest
friends and supporters declare it is tending to Its
end.
They say the Vitalizlng cause Of its existence
has either ceased or been lost sight Of, and soon
1t will only cunt er the ground. What new Pro
team face 1t will next fssume l will not vel lure
even to guess Federal, Whig, Know Nothing,
Republican, "every thing by turns and nothing
long" We shall see a new face and bear new
name and have brought into prominence new
question; tut at bottom we shall find the motley
crew, whose only principle is opposition to Dsmoc.
racy, whose only cohering power is love of otace
for Office sake.
The Democratic party has its foundation In the
conflict eternal iu civil society between the rights
Of men al d the tranchisesoi corporations and the
special privileges of weallh-in the conflict, In
herent in our federal system between the rights Of
the constituents and powers Of the central govern
ment between states rights and consolidated pow.
er, between home rule and paternal government,
between union and unity.
The Democratic party has always stood hrm for
the people sgainH the classes for the individual
against the masses for the powers reserved against
the powers granted and therefore 1t will exist IN
all governments as long ss the aspiration for the
amelioraton Of mans condition exists in the hu.
man heart; 1t will exist in our government as
long as the aspiration for constitutional liberty
and constitutional union are the testsOf American
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
Athertop, sayler Toilet Warner, have spoken, I
have read carefully every word of all these
speeches They have been able, eloquent, vigor-
ous They have exhibited every phase ofthe ques-
tious with ingenuity and power,
Barring the exaggeratiOn which belongs to our
stump system, they have been candid. Barring
the contradictions which grow ont Of the rapid
consideration Of many great subjects in brief
space they have been logical. Their intellectual
range has been equaed by their lofty courtesy,
One only has spoken Of his antagonists nnworlhily
| and those who know him better than do attrib-
ute this injustice to his intellect rather to the in
| adyertenCe of his expression than to the prompt
| ings of his heart.
I venture to say that not in the pslmIest days of
| oratOry has a political debate. involving so many
| SPIT akers been opened with greater power and
| eioquence not IN intellectual conflict have been
| given heavier blows or keener thrusts, and
been exhibited stronger determination and cour-
| age.
And almost simultaneously they appeared be-
fore the people 10 battle tor their cause active
| IMAGINATION might well recall atranscedant scene
| when the bTavest and strongest and most endur-
ing and active gadiatlors, devoted to victory or
| to death marched into the arena and bowed their
| heads before the Emperor and Senate and 100 900
| Roman citizens the power and wealth and beauty
| of the imperial city, and exclaimed: I'VE, who
are abont to die, salute the" AOrtturt Sdtata
| mus. ,,
mn where And 1t. Twill not Introduce new sub
iects | will not argue these questions as original
questions We tlud O. rtain condition Of affairs
4 yery unhappy Que we must get out Of IT,
slate msnship cOnsisIs in adapting principles
to the ever.ChSnging phases Of the human af-
fairs. ,,,
sion of the financial questions that they need no
repetition of axioms or rudimental propositions.
have endeavoried to eliminate the very Rst Of the
| discussion. with many words you confuse wis
| dom !" but here, with whatever contradictions, or
variety OF EXPRESSION, ulutIlub Ut bTeGb Ol
pOrIance attributed TO particular branches there
| there are few propositions generally admitted,
| and a few other propositions steadily maintain
ed:
/. Secretary Sherman, in his speech at Toledo,
| said From the diversity OF our wants we must
have different kinds of money 10 measure great
| wants and little wants We must have coin mon
| ey and paper money, and plenty OF ooth." What
| Icontend for Is that though our money may be OF
| MANY kinds II must all have the same purchasing
nower The esst ntial qualities Of all good money
| are stability, equality aud convei tibility.
@ The Democratic platform declares In favor of
| paper money made receivable for all dues TO the
government Of equal tender with coin, the amount
Of such issues to be so regulated by legislation or
organic law as to give the people an assurance Of
| the stability in volume Of currency and conseJ
quent stability Of value.
g. All parties in Ohio-I say parties, not individ-
usls-concur that the amount Of greenbaeks now
| outstanding by law-abOut S347 0000-shRl be
permanently maintained In our currency. And
| no party ventures TO affirm IN words that there
should be any contraction OF the present amount
| of Outstanding bank note Currency-about 1920 O.
! OOO-unless an equal volume be otherwise sup
piled. r.,,,-
fact lead to contradiction, Notwithstanding, as
| shall hereafter eDdeaVor 10 show.
There are three general classes OF paper money
| familiar To us all,
l. paper note representing an equal amount
| of coin dollar for dollar, which is boarded
sway. entirely unused, and ready to be produced
al any moment on the demand Of the holder Of the
note.
3. A bank note, whether national or State bank,
substantially such az we had before 1852 which Is
| on its face promise to pay coin on demand and
| whose value depends upon the ability of the bank
issuing 1t at all times to fulfill that promise. 1t iE
said that experience has shown that coin equal
TO one.quarter or one third Of the amount promis.
ed oy these notes will suffice to keep them at par.
| History does not support the assertion.
| currency Issued by the government con-
| tanning promise on the part OF the government
| at some indefinite time and some Indefinite place
| 10 pay given amount Of dollars, but depending
for is value chiefly on It's quality Of legal tender
| for the payment Of all taxes to the government
and Of all debts from the government and indi-
viduals except where otherwise provided IN the
| contract.
immateral notifications or Of national bank cur
renCy, Of which shall presently speak, will be
the paper money Of the country, which all parties
agree must be maintained
| There are other forms Of paper money, some
claiming to have great advantages over either OF
| these I 30 not examine them or express any
| opinion Of them here. For our present discussion
| this general classification will sutice.
| NO one to-day advocates the paper currency hrst
named. II Is purely representative OF me coin It
| furnishes no additional amount and huctuAtes
| with It's volume. The Bank Of Amsterdam was
| founded oD this system and was supposed TO have
adhered rgidly tO it, bus on noLsble occasion
when the coin was actually needed and an exam-
| ination Of the vaults was made II was found that
| the coin had disappeared lopg before.
The second form Of paper money depended
| solely on the capacity Of the bank to redeem in
coin. say solely because, although there were
many expedients devised to give ultimate securi-
" to the note holder, yet II the bar did in fact
| refuse redemption over It's counter panic ensued,
The notes deprecated, they lost their currency
and were finally either scalt or totally repudiat.
ed or paid TO speculatoTs who had bought them at
low rates. without single exception, so far as
| now recall, the honest nOte-holder who received
them in business lost largely
The law permitted, and, BY a consequence as
memorable a. human greed, eDjoined an Issue OF
these notes. payable ON demand In coin, In me
| neyeT could redeem all itB notes In coin. IB g.
/ nsniau fn nj re mnnRN dananded ON the fant that