The daily gazette., 1878-09-06

their circulation paid by the banks,
amounting to about three millions annu-
ally, and the net saving would be about
twenty-three and three-quarter millions.
Perhaps, in strictness, this deduction for
taxes ought not to be made, but it is pro-
bable that the banks throw the burden
of the taxation upon their customers,
who in turn shift it to the shoulders of
those with whom they deal, until, like
all other taxation, it finally falls on the
great body Of consumers, the people.
have given you, fellow citizens, some
reasons in favor of substituting green
backs for bank notes. now proceed to
consider the only objection to the sub
stitution that seems to have any weight.
1t is said that if greenoacks were to con-
sJitute our only paper curfency, its vol
ume would depend upon the action of
Congress, and not upon the natural laws
of trade; and that as Congress is liable
| to be influenced by popular feeling on
| the one hand, or the arts and appliances
| of special interests on the other, the cur
rency would be subject to imitation or
| contraction, as either influence might
prevati,,fo y degree that would be ruin
| Gus to buAiness and prosperity.
In answer to this objection, and admit
| ting that it is not without force, / have
to say, in the first place, that 1t is equally
potent whether our paper currency be
greenbacks exclusively or bank notes ex-
| clusively for, let II be one or the other,
| Congress would have the power to ex-
pand it or contract it at will. For in
stance, were Congress to repeal the tax
on State bank circulation, multitude
of banks would spring up under State
laws and great initiation of the curren
cy would take place. On the other hand
should Congress retain that tax and re
tire the greenbacks, as the Republican
financiers demand, a frightful contraction
would result. In brief, If Congress shoult
have neither sense nor honesty, 1t nigh.
for the time being ruin the country Blu
to assume that it would do so would bt
to condemn our form of government.
But our platform squarely meets thil
difficulty. 1t condemns contraction OF
the one hand or "kiting" on the other
1t demands that "the amount of such is
sues (greenbacks) be SO regulated by leg
lslation or organic laws az to give the
people an assurance DISABILITY in volume
of currency and consequent stability OF
value" and, in unmiStakable terms, i
opposes the decentralization, or disuse o
the precious metals. Could anything
appeal to you, be more conservative thai
this, if conservatism means to conserve
the interests of the people at large ant
not those of particular class? Can an,
Hill TtdSOIdUly ODltCb W
policy that preserves gold and silver from
destruction and demands stability il
the volume and value of the currenc.
greater than has ever yet been at
tanned?
Fellow-citizens, our platform has beel
denounced by men who never read ii
and by others whose interests or preju
dices incline them to misrepresent 1T
and now the answer | make to them i
: to ask you to read and to study it. 1t /
, in vain for its enemies to say that
means what it does not express. 1t
language is too plain to be mlsunder
stood by a candid man and the charac
ter of the committee that reported, an,
, the Convention that adopted 1T, is suff
/ cient to shield it from the charge of dc
ception. 1t is an honest platform, an
means just what it says. 1t means oppC
sition to monopoly, opposition to specia
privileges, opposition 10 contraction o
the currency, opposition to the deinonei
, iZation of the metals, opposition t.
, wasteful expenditure and opposition t
never-ending public, DEBT: And j
means equal rights and privileges, al
honest and stable currency, strict econ
} omy and lighter taxes and fiithful pay
, meDt of the public debt. 1t gives n
/ sanction to irrehgion and communism
{ but it fully recognizes the dignity of la
Dor and sincerely sympathizes with tn
: iaDoring man in his toll and privatio1
: 1t asserts the principles upon which til
: Government was founded and which ar
. essential to its usefulness and perpetmt,
: 1t promotes fraternal feeling throughou
the length and breadth Of the Republi
S and condems seetionalism as the wors
9 foe of the Union. In a word, it is a
|. honest platform of honest men, patr
t otto platform for patriots to stand VI
9 on.
!, Fllow-citizens, if am net in error
$ what have SAID, 1 have given you
i sufficient reason why there should be
l. change in our Federal admnistratio
: If our financial policy is correct, that {
: the Republican party, or at least of tho
: who shope it legislation, is wrong.
n this be SO, then, as soon as the forms I
l. the Constitution will permit, that part
y should cease to rule But there are oth'
l. reasons why there should be chang,
: and to some of them wish briefly to ca
r your attention.
= no BE CONCLUDED TOMORROW