Daily globe., 1878-08-07

to the orig ginal law creating the public debt by
which the obligations of the contract have been
made more. onerous.
Other resolutions hold the Republican party
responsible for the depressed condition of busi-
ness anl vigorously denounce the conspiracy
which through corruption and fraud gave the
electoral votes of South Carolina, Louisiana
and Florida to Rutherford B. Hayes for Presi-
dent, and VIM. A. Wheeler for Vice President,
against the clearly expressed will of the voters
| OF these States, and declare a firm conviction
that the refusal of the Republican members OF
the electoral commission to Investigate the
charges of fraud whereby certificates of cleo
tion were given the Hayes electors in said States
! was violation of public duty and betrayal of
! the trust reposed in them; and we hereby en-
| dorse and approve the investigation constituted
by the House of Representatives. for the pur-
pose of exposing to the whole country the
means by which said frauds were perpetrated,
and the will of the American people defeated
in the election Of their chief executive,
Times special: Four delegates from the
Tenth ward of New Orleans who offered to sell
their votes were expelled from the convention.
After ffty-seven unsuccessful ballots for State
treasurer, the convention at II: 80 adjourned
Moncure, 1S419; Richardson, 9319; blank, 5
necessary to choice, 2D6. Last ballot, Burke
l4o; Moncure l54; Richardson, II; Taylor, Al
SENATOR NJ DONALD AT LoGANsPoRT.
LoGANspoRT, Ind, Aug Ex-senator Mcdonald
opened the campaign here tonight to a large
audience. Speaking of the financial question
he said his views were the same as four years
ago-that the specie basis is the norma
financial condition of every commercial country
because specie in some manner forms the
standard of value. If we hold no trade com
merce it would not matter what medium OF
exchange was adopted between ourselves, but
we are commercial nation and people, and il
is necessary to have standard OF value ap
proximate the standard of value in other
countries. We cannot afford to other cur
rency, because if we disregard the worlds cur
rency we fail TO provide for ourselves. A ma
tion that has departed from this rule must lose
it's position unless 1T returns to specie pay
ments as soon as practicable. The close of the
war ended the necessity for lavish expenditure.
A speedy reaction set in and the difference be-
tween gold and paper was considerably re-
duced, but there came time when
the process of closing the gap became more
difficult-for this reason: We have nearly
seven hundred millions of paper circulation
and only abantsone hundred and sixty millions
specie in the treasury and the attempt to re-
duce the volume of paper currency too sudden
ly would break down the industrial interests
of the country. Upon this account L voted III
favor of the repeal of the resumption bill. /
preferred to wait until the legitimate business
of the country should enable us to grow out
of the dilemma, keeping constantly
in view Of the fact that we are out of our true
position as q commercial people until there
should be no longer any difference between
gold dollar and paper ores l don't consider
the question of currency settled until spe-
Gle payment shall be resumed. As a Democrat
ever looked on such monied institutions
I>cr,l 1ffnr
the authority of the federal govern
ment, as dangerous engines of political
power. and / do not feel willing to see the sys-
tenn perpetuated fer any supposed advantage
that may spring from 1T. In addition to this,
the perpetuation of the national banking sys-
tenn, as we now have 1t, renders it necessary to
have Il perpetual national debt. l am anxious
to see the national banks of this
country in and certain
process of liquidation. l cannot believe that
Congress possesses the power to coin money out
of paper, yet believe in the fullest manner
in the right of the government to use her credit
in the form of treasury notes to any extent
her creditors will receive them, and that the
people may use them among themselves.
DELAWARE DEMOCRATS.
DOVER, Del, Aug. 6.-The Democratic State
Convention to-day nominated John W. Hail. of
Kent county, for governor, by acclamation.
Martin. of Sussex county, was nominated for
Congress. One resolution passed endors-
ing the Delaware senators and Republicans in
Congress, and concluding follows: In &C
cordance with the time-honored and constitu-
tional faith of the Democratic party, we hold
that the only lawful money of the people of
the United States is gold and silver coin, or
paper currency convertible into such coin at
will of the holder
CONGRESSIONAL NOMINATIONS.
New ORLEANS, Aug. G.--The Tines Baton
Rouge special says r. l.. Gibson was renomina-
ted for Congress in the First and Roberts in
The Sixth district.
BELFAST, NE, Aug. 6.-The Republican Con-
gressional convention of the Fifth district to-
day renominated Eugene Hale by acclamation.
CINCINNATI, Aug. 6.-The Democrats of the
Third district to-day, nominated j. A. Mchla-
hon for Congress. The Republicans nornt
mated Isaac Morton, and the Nationals nomi-
mated Hon. r. McGinnis for Congress from the
Fourth district.
EaRUTLAND, Va, Aug. 6--The Democrats of the
First district nominated j. r. Randall for Con.
gress..
GREENBACKERS.
WASHINGTON, FAug. G.--At meeting of rep
resentative Greenbackers to-day to form ma
tional committee and systematic their labors
in the several States, ex-senator Fowler, Of
Tennessee presided. A declaration of principles
was discussed, but action vas deferred till {
future meeting.