The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-08-14
SENATOR meDoNALD's SPEECH.
A Clear and Logical Address to the
Democracy of Cass County.

Democracy of Cass County.
by Telegraph to the SentineI.l
LoGANsPoRT, Ind, Aug. 6.-Senstor Joseph
+. Mcdonald spoke to large and very en-
thusiastic audience tonight on the financial
and other questions of the coming campaign.
Though not set speech, his address was ex-
cellent in style, being clear and logical. 1t
will no doubt convert many who were bal
anced between democracy, fiat moneyism
and republicanism, as well as strengthen
those already on the democratic side. Sena-
tor Mcdonald was introduced by the Hon.
Rufus Magee, and was welcomed with three
rousng cheers. He spoke of the Importance
of the approaching contest, especially as re-
CARDS the financial question and the ques-
ton of popular representation. He said
when in 1866, at the end Of the war, we
found ourselves largely in debt, we also
found that the necessity of the government
had changed the character of the circulating
medium. We had currency which stlmu-
lated enterprise in all departments of trade,
but the republican party commenced sys
tenn of financial legislation which led to a
change in the nature of our obligations in a
by which all sorts of property was depre
ciAted.
AT THE END OF THE WAR,
of our bonded debt $1,7O0,OOO was in 500
bonds that were payable in money issued by
the government during the war. In support
of this, extracts from Governor Morton's
speeches were read. In 1869 this contract
was changed by the passage of the gold bill,
followed in 1873 by an act demonetizing sill
yer, thus making the bonded debt payable
in gold only. In 1875 was
passed the act providing for the
enforced resumption of specie payment
Although the effect has been disastrous the
republican party have persisted in keeping
this law on the statute books. Until 1876
the republican party had complete control
of legislation, and thus OF the supreme court
of the United States. The speaker alluded
to the panic of 1878 as an effect of this policy.
RISE OF DEMOCRATIC POWER.
He then proceeded to trace the gradual rise
of the democratic power beginning with the
Forty third congress- each succeeding con-
gress showing their gain, until the Forty
fifth congress assembled with q democratic
majority in the house and nearly a tie in the
senate. This congress remonetized silver and
passed an act prohibiting the further contrac-
ton of the greenback currency. He recounted
the futile attempts made to repeal the re-
sumption act and obtain the passage of two
acts in its place-the one to provide that the
legal tender notes of the United States
H. fto- l~o ~ 60
the government four per cent bonds, the
other providing that after the 1st of the
coming October treasury notes should be
ceived for all government debts, including
duties on imports, so as TO make the present
volume of greenback currency the business
equivalent of gold and silver.
Foe THESE MEASURES
he had labored, believing that they were in
the interest of the people, and he believed
that the next congress would make them
law. As to the future policy of the dem
ocratic party it had undergone no change.
Our financial policy must eventually settle
down to a specie basis but it is not worth
while to try to force resumption; therefore
he had opposed the resumption act. We
produce from $50 600, 900 to $40 900, 600 of the
worlds yield of SIC, O0O, 900 per year of silver
and of the worlds yield of $11O, 100000 gold
we produce $40, 600, 900, and thus supply is
likely to continue. We can not dispense
with a convertible paper currency for 1t is
of great convenience in business trans
actions If the government would make its
notes receivable for public dues there
I
for private debts as well. l want to
ask the people whether they will
stay the hand of the democratic
party or whether they are going to turn this
government back again into the hands of the
republican party, that they may act over
again the role of the last ten years. Senator
Mcdonald reviewed the conduct of the re-
publican party in the electoral commission
ia bitter terms stigmatzng it as a great
crime, and declaring that that party had
Mexicanized this country as far as it was in
their power. He then took up the matter of
redistricting the state, exhibiting a curious
looking map, the result OF republican talent.
BY this means they bad succeeded in electing
nine of thirteen members of congress. In
/ NoiOiuoioh hO cAPAoeoou hOpc Iudt LASS
county would be found under the banner of
the democracy in the coming campaign.
General Manson, democratic candidate for
state auditor followed in a brief speech in
which he dwelt mainly upon the financial
policy of the democratic party.
by the Associated Press.l
OPENING OF THE CAMPAIGN AT LoGANsPoRT.
LoGANsPoRT, Aug. 6.-Senator Mcdonald
opened the campaign here to night to large
/ III L. IL q - L