Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-09-11
Thon,Dsou,s Screed.

son, secretary of the navy, spoke at the opera
house tonight. He confined himself to the
discussion of the financial question. He con-
siders that the most important now demanding
public consideration, and considered the issue
SO distinctly made up that it could not be
evaded. But two plans of currency are pro-
posed in direct opposition to each other, one
paper circulation deemable at par in coin at
the pleasure of the holder and limited by the
necessities of trade and commerce. The other
paper circulation, limited only by the discretion
of Congress, having relation to specie value
and not redeemahle in anything. He does not
believe that the Democratic party throughout
the United States favor an irredeemable cur
rency, for in the last national platform of the
party it severely censured the Republican
party for delaying the resumption of specie
payments. but in tie State of Indiana it is SO
committed that it cannot support its pres
ent ticket without expressly approving
On this p int the Indiana Democracy and the
Nationals. therefore. whenever in particular
localities they can secure a prospect,f success
by uniting, they fall into each others arms as
gracefully as if they were dancing the round
dance. Upon one point only is the difference
SO great as to cause any impeachment to their
old parties are corrupt, to which
the Democrats only go 30 far as TO
include Republicans and not themselves,
that is they go the first half. Even this i'm
pediment seems to be gradually disappearing,
not from any concessions from the Nationals,
wh0 stick to their own men, but from the
Democrats. who for the sake of success submis-
sively accept the dictatiOn of the Nationals in
several important localities.
The currency question ought not to he
party question, ought not to have Repub-
lican and Democratic side to it, for it concerns
oil Sf Rr1t hn ITO
have made it so in far our present finan-
cial system is concerned. That system is en-
phaticaIiy Republican, conceived and
fostered by the Republican party, which
cheerfully accepts. all the respon-
sibilities it Involves 1t was
made necessary by the war. The administration
of Buchanan had so impaired the public credit
that money could not be borr we'd by the gov
eminent for less than IL per cent, and under
this state of things it would have been inn
possible to conduct the war for the Union. The
administration of Lincoln had to produce a
better state of affairs suffer the government
to be destroyed This bad to be done by ber-
rowing money upon government bonds and is
suing greenbacks, but ut every step in the con-
summation of these measures, it met with
opposition from the Democratic party. That
party supported the interest upon the bonds in
coin, but opposed the issue of the bonds and
denounced the policy which run up the public
debt, Notwithstanding it was necessary to sus-
tain the Union, and declared the greenbacks to
he utterly worthless, lie and fraud upon
their face because they promised to pay money
when the government had none and their is
suance in violation of the constitution. The
most eminent leader of the party declared that
the constitution gave Congress- only the
power to coin money and regulate the value
therein, and that the money it meant
gold and silver, nothing else could be coined,
and by their steady opposition to all measures
oh. hrrn
Democrats have made the financial question
party one. The consequence for whatever in
furious results may spring from this fact rests
upon that party.
As for the Republican party. it will stand by
the system to the end, not only becanse it has
been the means of sustaining the government
in the hour of its greatest peril, but because it
has now reached its contamination by the prac-
| tical resumption of specie payments, and
promises the most certain means of extending
| the already revived trade of the country. The
enemies of the Republican party need
| not delude themselves with the belief that the
signs of it's dissolution rising out of trfing
| differences among its members. They will re-
| alize that party which done SO much for the
| country and has much 10 be proud of, will
not suffer the slightest disagreement to divide
| it's forces so long the honor, interests and
| welfare of the nation shall require 1T to be
| united.
! Notwithstanding the opposition of the Dem
ocratic party to every feature of the present
| financial system it asks, with the most
complacent air, that it be allowed to become
! it's future guardian, that the greenbacks which
it had cursed and cheapened by its hostility
may be confded to it that by reissuing
them in untold amounts, prices may be inflated
| and Democratic administration ridden into
power upon the tide of apparent and delusive
prosperity.
There are many Democrats in whose hands
ho 70 {ho hop lYc
| for there are many of them who understand it
as the Republican party does. to be a promise
to pay money, that is coin. They are in all
the States and some Of them in Indiana, but
| the leaders of the party in this State. IN whose
behalf the whole party is now called upon tc
| make it's earnest efforts are not of this class
| They demand the repeal of the resumption act
after resumption has been practically begun,
and at this point made a common ground OF
opposition to the Republican party with the
Nationals. Thus they signify their adoption
of the plan of creating cheap money, as it il
called, as if the government. in the face Of
common sense and experience of the world, anC
the very words of the constitution, could create
money out of anything upon which it CHOOSE
to stamp the name. This il
not a new idea, but an old one. Il
than 500 years before Christ. He stamped ar
OK on piece of metal, sheep upon another
piece and 80 on as to other animals and pro
vlded by law that each piece should represent
the value of the animal indicated. How lone
it lasted we are not informed, but it took but
fac. 4'i .s., Vn. III M saimals .se1 Of tht
same kind were not Of the same
value, and therefore II had to be abaodoned