The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-14
The Greenbaok Theory Endorsed as
...s Sound National Policy.
THE NATIONAL DEBT TO BE PAID.
Arrangement OF the Republican Party a
.asss's venal and Corrupt
fsr rsLxasArH TO THE HEnAID.I


while such lesser lights Cougressmsn
ucMahon ana Saylor and John +. Follett de-
hysred addresses which helped TO oil up
HE day as well as 10 lay of tho ground which The
party expects to occupy In It's nsht for supremacy in
NE State this fall. Hamilton tho county scat Of
Bnsisr county. OF the strongest and most reii-
SHY democratic countles Of this State. ana ono,
loo, IN which Judge Thurman has always
had enthusiastic following, and 1t was doubtless for
this that II selected as the place for him
to mako his FIRST speech Of the year. The meeting
look place the public square, handsome little grove
In the Of the city the Court House
and other pubic buildings. The crowd was quite
large enc, Numbering probably three thousand, and
embracing tho number many who had gone there
from Coiu mbus Toledo, Dayton and CINCINNATI, who
were dsslrous of hearing the distinguished senator
make what nssss oolievi ng 10 mis- frs
bid for the Presidential nomination in 1880
The meeting was presided ovor BY ME- Petef Muir.
ply. Senator Thurman In good health and
reasonably good voice, though little hoarse a. nrs
bus - he warmed up with has subject his vo,ce be-
came clear and his manner emphatic and eIciting
frequent rounds OF applause from his hearers. He
spoke ~ tsllows:-
SENATOR THURMAN's SPEECH
Mr.. PRESIDENT AND FELLOW CIrIzKSs-I have seen
several statements in The public prcss 10 the effect
Jay was TIA. should Sound the keynote Of the cam
paign ;" Il WISH in tho very outset Of my renarks,
10 dssaim any such pre,ension. Under free insstu,
,ions il is the people give tho keynote; and.
far thc democracy oil Ohio concerned they nnve
dsehargsd that duty in the platform adopted by our
iorm- l have advocated It's principles heretofore
and shall continue to advocate them. Per-
sci K but inasmuoh as, in certain quarters
! am denounced man who has surrsndered his
psrdonabis Ia mo to occupy q few moments IN
polling this charge. The accusation has references TO
Now, what u this financial plankf 1t condemns eou-
traction OF the currency; demands the repeal Of the
act advocates the removal Of oil ressEc-
ment OF SILVER AS money metal tho samc ss goid--
the Same as II was bsore Its fraudulent demonetizs
sou the gradual substitution Of United States legal
pepper bank nosoe and IT, Pcrmanent
the solo paper money Of The country,
made receivable for all dues TO the government and Of
equal tender coin-tho amount OF such issues
70 be by Legislation OF organic Law as 10
Eiyc the people assurance OF stability in the volume
81 currency, ana the consequent stability or the
value; no further increase IN tho boodcd debt, ana
no further sale OF bonds Tor the purchase OF com Tor
assumption purposes, but the gradual extiocion OF
Tho pubic debt, rigid economy, the reduction OF sx
psndtures in all branches OF the public sorvce, and
= tari6 Tor revenue only" Those The financial
doctrines OF the platform, and now, Confidently dey
my critics, one and all, 10 nac any vote that have
gwen, curing the nine years that have sat in
the Senate, that was inconsistent With thsso prn-
cipies have steadily opposed contraction ev0r since
sumption ACT xhcn passed, last session OF
Congress voted Tor It's repeal worked hard 70 re-
store silver TO the place y held before No nc
State Convention fnvoring the gradual suosthutiou OF
greenbacks Tor national bank notes, and thst seseu.
iicn, inJudiciousiy amended, az i believe cvevy
one now admits, was passed BY the Oosven-
zion. I one Of tho first 70 propose In
the senate that greenbacks snsulA DO reoesvsbie
dor duties, and Al the last session voted for
the bill making them thus receivable. have been
ssmsuds stability. have oons:sd.d .sss re pr.e
ious metals ought NOS 10 be demonstrated. and tho
platform asserts the same docirine ! have spoken
sn "A wsto uinQ tur n n DEL L
have the bost OF my ability. strict scon
omy, reduction Of expenditures and rsvsa ne tariff
NY course therefore has been poefeetly c0nststeas
with the plat form Of Convcusion, the jOuPnals
ana debates OF the Senate Will show. And beg isavs
ycafs have sat in inc senate 20 which exception was
taken by the democracy OF Ohio, so fer ss know Or
Fellow citizens, trust that hsvs nos offended pro-
priety GOOD tssts by making these few remarks
aoout myself. You are portion OF my conssitueass
and have right TO Know whether have represented
you correctly Or otherwise. II have rsputasou
worth preserving IL Is Tor your iasersse - we'll as
mne that II snail not be upJussly tarnfsned But
enough upon this theme.
When the currency part OF the platform ~ carefully
crutinizsd Il VIII be iound tnat principal foasuro
proposed substitution Of grcenbacks for national
bank notes thnK that do them no injustice wnon
say that the leaders Of the republican party are IN
favor OF directly the opposite ccurse-tbat Ia TO
say, they would retire all the gresnnseks
an order that their places might be flied
with national bank notes Lot either course be
tskcn, and the metallic money Of tno ooontry re-
mains the same Use either kind of paper, aud the
CfrCulat1Oo,
small coins used Tor cnange viii DO comparatively
small so long one and two and hve dollar nesss are
freely issued Tor such notes always drive coin out OF
circulation, and whenever conversion into ooin Is
practicable ana desirable IL Will pc just as easy To
sonvvrs grcenbscks as TO convert bank notes. Tho
question, then, - narrowed down TO th1-ShaI our
}sper money be national bank nosos or greenbacks?
For several reasons that will briefly state think
that The latter are preferable.
NATIONAL BANK CURRENCY MEANS rERPEruArIoS or
TIM SArIoSlL DLBr
In the first place national bank currency
- AM fnftn nf nnilA
acpl Tue national banks, so far their circulation
k concerned, are founded on that debt. IL 10 the
paid banks retire their circulation and Geese
20 issue notes In order, thsrcfvse, 70 pcrpetuate
ycrpetuaie tho national dobt. And you may ross as
bured that they will DO and the influence Of mere
Imam Two thousand such Institutions spread all over
Inc country, will DO vory powerful Indeed.
Now. ON not one OF those who essevs that
psusnaf dsts Is = nstiosai bissstse bersvs shas
Inc reverse Of this is true, and tnst such Asos 10
pasiona curse 70 say nothing OF NJ oorrup.ing In
tueHcss us drnin oil the resources OF tho people 10
isrrs portion Of the d.ss is held ssrosd. IL CEN.
paratsvcy brief period the aneuat OF interest pad
s1ossds ,he principal ,ss ese VAL: .ns sra,s con.
Who nss asa'ss the sss,set xnoss that
sassry and pvospsr1y Of . coss~y. IL 10 Srus that
the nssssaS csW s~nDcs ~ speedily pad Dut We
va esy@sas me ssussal BANK sstss are such On
Ds>is aDa fos tbss reason are oujsctionsbIe. Your
yiatern w1esay sosossS~s 1ne gradual oxtnctton OF
zoe &C 1etL' a. thus favofs Ne honest payment
END spposss ssdsfs pcrpotsas,os And IN strict
nwDeDy win tos vfise'pis y eesasmns bank sots
System mat tssds 70 psrpstualS u.
= a sscenA spJecssoa 10 the ssusDal sasx ~ aIem
~ that " sssds 70 csmbine, concentrass ssd 10
ssvssfy the nsnsy power shsii indulge "a no dee
lsmatSop sEaisst tho money power seek to az
passion, no prejudice. wish 70 reason fairy
and wish you 70 JUDI iarly Aud DO reason fairy
when say that, 10 view Of the undoubted fact that
darnr tho whole period OF the unlimited sway Of the
republican party tho legislation OF Congress
stssdiiy fuvorea The moneysd iatersst and thereby
areaty added to thc burdens OF thc people that the
Purchasing power OF money mas ImmcDsey Increased
while the exchsngesbc er Purchasing power Of every
fniug elise renamed stationary has dtanishsa
ana IN vtcv ne furthss loot that shs national
bank sysicm coafsrs special privileges upss the banks
thai etbcr insnusisss ana ne iadrvadusIs enjoy
that combines more thaa tws thsusasd usstlutions
pew, and, perpstusssd, nay combine Thousands
more, In commos purpose and win oom mon In
berest 10 MAINTAIN their possr and psoobg thor priv.
tegse that these Institutions scattered ali over
bs Republic aud, actlsg openly or Ia secret are able
influence legislatures, crosses ana thousands OF
rotsrs, IL 10 not injustice, but the contrary, IN