The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1878-08-20
THE KEYNOTE SOUNDED.
OPENING SPEECH OF THE
OHIO CAMPAIGN.

OI OE
OHIO CAMPAIGN.
Delivered by Hon. Allen G.. Thur.
man at Hamilton, Butler COun.
ty, Tuesday, August 13, 1873.
Mr.. President and Fellow Citizens:
have seen several statements in the
public press To the effect that the object |
of my appointment to address you to-
day was that should "soupd the key
note of the campaign" l wish, in the
very oatset OF nv remarks, to disclaim
any such pretension. Under our free
institutions it is for the people to give
the key note; and, so far as the Democ-
racy Of Ohio are concerned, they have
discharged that duty in the platform
adopted by our late State Convention 1
stand squarely on that platform | have
advocated its principles heretofore, and l
shall continue TO advocate them. Per-
haps this is all l should say about N.Y.
self; but, inasmuch as in certain quarters,
/ am denounced as a man who has sur
rendered his convictions to appease
popular clamor, it may be pardonable in
me to occupy few moments in repelling
this charge. The accusation has refer
ence to
MY SUPPORT OF THE FINANCIAL PLANK IN
THE PLATFORM.
Now, what is this financial plank? 1t
condemns contraction of the currency;
demands the repeal Of the resumption
act; advocates "the removal Of all re
'strictions to the coinage Of silver, and
the re-establishment of silver as a money
metal, the same as gold-the same as it
was before its fraudulent decentralization; ;
the gradual substitution of United States
legal tender paper for national bank
notes, ard its permanent establishment as
the sole paper money of the country,
made receivable for all dues to the gov.
eminent, and of equal tender with coin
the amount of such issues to be 50 reg
ulated by legislation or organic law as
to give the people assurance OF stability
in the volume of currency, and the con-
sequent stability of the value; no further
increase in the bonded debt, and no fur
ther sale of bonds TOR the purchase Of
coin for resumption purposes, but the
gradual extinction of the public debt,
rigid economy, the reduction of expend-
itures in all branches of the public ser
vice, and tariff for revenue only" These
are the financial doctrines of the plat
form, and now, I confidently defy my
critics, one and Ito name any vote that
I have given during the nine years that
I have sat in the Senate, that was incon.
sistent with these principles. have
steadily opposed contraction ever since
lit was inaugurated. Ispoke and voted
against the Resumption Act when it
passed, and at the last session of Con-
gress voted for its repeal worked hard
to restore silver TO the place it held be
fore its demonetization. Several years
ago / drew a resolution for our State
Convention fayoring the gradual substi
tuition of greenbacks for National bank
notes. and that resolution, iDjudiciously
amended, as / believe every one now ad
mits, was passed by the Convention.
was one of the frst to propose in the
Senate that greenbacks should be receiv
able for customs duties, and al the las
session voted for the bill making then
thus receivable. ! have been the advo
cate of silver currency, and your plat
form demands stability. / have contend
ed that the precious metals ought not te
be demonetized, and the platform asserts
1.-THE came doctrine. have spoken an(
voted against an increase of our bondes
debt. / have advocated, to the best o
my ability, strict economy, reduction o
expenditures, and revenue tariff N.
course, therefore, has been perfectly con
sistent with the platform of our Conven
| ton, as the journals and debates of th,
Senate will show. And beg leave t
add that | have never given vote, in th
nine years that have sat in the Senate
to which exception was taken by the De
mocracy of Ohio, 80 far as | know, o
have ever heard.
Fellow-citizens / trust that ! have no
offended propriety or good taste by max
ing these few remarks about myself. Yo1
are portion Of my constituents, ant
have right to know whether ! have rep
resented you correctly or otherwise.
I'll have reputation worth preserving,
lis for your interest as well as mine lha
lit shall not be unjustly tarnished. Bu
enough upon this theme.
i When the currency part of the plat
form is carefully scrutinized, it will b
found that its principle featureis the pre-
; posed substitution of greenbacks for ms
tional bank notes. ] think that ! d
them no injustice when I say that th
leaders Of the Republican party are i
favor of directly the opposite course
that Is to say, they would retire all tn
| greenbacks in order that their place
might be filed with national bank-notes
Let either course be taken and the meta
, lie money of the country remains tn
same. Use either kind of paper and tn
amount of coin in actual circulation
apart from the small coin used 70
!, change, will be comparatively small, 9
!, long as one and two and five. dolla
notes are freely issued, for such note
always drive coin out of circulation
And whenever conversion into coin
practicable and desirable, it will be jus
; as easy to convert greenbacks as to cor
vert bank-notes. The question then
5 narrowed down to this: Shall our pape
: money be national bank-notes or greer
3 backs2 For several reasons, that wi
D briefly state, / think that the latter al
preferable.
l. In the first place, national ban
currency
D MEANS THE INDEFINITE PERPETUATIoN o
THE NATIONAL DEBT.
The national banks, 80 far as their Gil
i culation is concerned, are founded o
0 that debt. 1t is the security for the
s notes; and whenever the debt be pal
the banks must retire their circulatio
and cease to issue notes. In ordel
therefore, to perpetnate their privilege 6
. issuing notes, they must strive to perpe,
uate the national debt. And you ma
rest assured that they will do so an
the inf fence of more than two thousan
! such institutions, spread all over th
: country, will be very powerful indeed